Member Info for WG818

Half truths Fitsy????? I was good enough to post the links to confirm what I posted. Please open them and correct me on anything that’s not correct.
The company itself has to submit the figures to the NTSA? Are you suggesting they have got it wrong?

EnergAnnum…..Adrian.
How many times do you need to be banned from this site before you finally realise you can’t post outright lies?

DRB As you say the sidtrack is far from a dead cert, The last 9 attempts all failed. This is from a previous post of mine.


The OGA is now called the North Sea Transition Authority and the information is available from them if the links don’t connect now.

“Wells”.... and sidetracks.
The last 9 attempts at Saltfleetby by the best in the business all failed.

SF7Z
Spud 4th July 2003
Sidetrack 8th October 2003
Sidetrack 10th Nov 2003....Abandoned phase 2

SF8

Spud date 27 Oct 2007.
Sidetrack 9th Jan 2008
Sidetrack 10 April 2008
Sidetrack 26 April 2008...Failed and shut-in!

SF7W
Spud 14th Feb 2016
Sidetrack 13 March 2016..Abandoned phase 2

SALTFLEETBY ENERGY LIMITED

2014 Turnover £14,470 Million...............Loss for year £17.8 Million
2015 Turnover £8,099,Million...............Loss for year £9.58 Million
2016 Turnover £6,954 Million...............Loss for year £24,40 Million
2017 Turnover £3,568 Million.............. .Loss for year £2,95Million
2018 Turnover £0 Million.............. .Loss for year £2,70 Million

https://find-and-update.company-information.service.gov.uk/company/00953066

HTTPS://itportal.ogauthority.co.uk/edufox5live/fox/edu/WONS_WELLBORE_SEARCH_PUBLIC

License number PEDL5

Howey here you go.

The first page (UKCS Production Dashboard) is easy to navigate. Just tick Angus and then Brockam. The Second page (PPRS Spatial Dashboard )( is a little more complicated , zoom in onto Saltfleetby on the Map and all the information becomes available. It takes a bit of playing with but gives all the previous year’s production in all forms Take a look at the water cut increase over the recent years and then look into its implications!

https://www.nstauthority.co.uk/data-centre/nsta-open-data/production/

He also said Brockham was producing “AT PEAK “ I think the term was 50 barrels a day. The Figures listed on the NSTA website give a figure of 5.7 a day!
As anyone who has watched any interview he gives, anything and I mean anything he says inevitably ends up being considerably different to what he has said.

Poor even for you Donk! He confirmed that only one compressor package was on site rated to 5mmscf and they could push it a bit further if they ran it harder but didn’t know exactly how much.
I have only corrected those who claimed that each package was rated At 10Mmscf….. including your (worryingly) your industry expert.

DRB
The point I was trying to put over is that Mercuria won’t have got a penny less than they are contractually entitled…why would they? Let’s just add circa £10 million more Angus owes! They could well have sweetened the deal for themselves as they hold the debentures over all Angus’s assets.

With regards to moronic posters on this BB you have found out yourself that they are here in abundance, largely the same few people with multiple accounts as is clear to see.

Literally anyone who questioned on here is hounded or the inconvenient question mysteriously disappear s or is swiftly moved down the page by pointless one line posts. Your new friend Is the master of this tactic. Others like RT00 manage to get posts including their own mysteriously removed……I think a certain number of reports deleted a post!?!

Howey

I take it you’re hangover isn’t helping your mood.
Your position is perfectly clear for all to see from your history. No offence was offered or implied.

With regards to my “fair to say” comment. A contract was in place and would need to be fulfilled for the amount agreed….. end off!!

Sorry, same time as the sidetrack!

Not really DRB. I suggest you have a listen to the investor one2one presentation where GL himself says they will take a couple of months break to drill the sidetrack. This question has been lurking around for a year or so now and if they had got permission they would be shouting it from the rooftops.
They have even said it’s not considered safe!! Given the fact that GL told us they couldn’t even film the plant when it was operating I wouldn’t take it that simops are going to happen!! …….they could of course but if you listen to yesterdays Malcy interview doesn’t he say 3 or 4 weeks to install the second compressor package? This was originally meant to be all done at the same time.

HITS

The 17p figure has come from the Q&A page I assume. That figure even back then looked just plain wrong. Since then the cost has risen from £2.5 million to £20 million plus.

You may want to Add the sidetrack cost s of circa £3 million each for Saltfleetby and Brockham to your list, and of course the £12.8 million de-com costs for the plant and 8 mile pipeline that got lost in the RNS when mr Forrest sold his 49%.
All information to confirm this available on companies house!!

Howey

Your sums seem to be done on the basis that Mercuria are willing to take a risk on gas prices being higher than they were in July and August?

Well the average price per therm was around 450p over the 2 months and Angus had a contract to supply 103.37 MMSCF per month or 1.125 therms. That’s circa £ 9 to £11.5 million depending on when the price is calculated, end of day or end of month, they owe isn’t it?
As GL won’t give any details on the agreement with Mercuria it’s fair to assume they will not be getting any less than this figure? They are completely in the driving seat after all.

Just for reference on the day before production started at Saltfleetby gas was at 702.95 a therm. It closed yesterday at 286.58.

To simply try and move a proportion forward to suit your position doesn’t quite work.

Howey I have pointed out that the company itself has told us the compressor packages are rated to 5mmscf. Only one on site and GL himself has told us they may be able to tweak 10/15% more out.
Relying on a Twitter picture that has Test written on the top isn’t the most reliable source of information really is it?……as I said it also would be highly disappointing if the flow had dropped from 4 to 2.8 in those few short days……but again it does just say TEST!!

So just for counterbalance. A4 does have a big red IN TEST at the top and more worrisome is the fact that it says it’s at 100%!! And only 2.82 that’s dropped from The 4Mmscf in the RNS?……How do you know what the flow rate is actually referring to Yanis?

MayQueen…….Adrian.

The First load payment is due this month. You really shouldn’t post things you know aren’t true!

Bit of a slap in the face from GL himself when he Basically called you an idiot in the answer you asked by the way…….ouch!!!

Fred.

If they are lucky they will meet the hedge this month? Apart from that they have been loosing £250k to £350 k a month just running the company and spending Millions finishing the plant. It’s fairly easy to work it out from this and previous year’s accounts where they are financiall as they haven’t made a penny in nearly 3 years! You should try it it’s all available if you look!!……and please don’t try the Brockham oil as the NSTA give a figure of only 5 Barrels a day and at that rate it’s just a hole in the ground to sink more invested money into.

MayQueen

You really should do your homework before posting insults. Check out the October CPR and the 13th June interim accounts. Even with the Six Million placings and the exercised warrants their still doesn’t look to be enough to pay the loan down, the interest owed on the loan, the general running costs of the company and of course the restrictions placed on Angus by the lenders regarding a minimum bank balance……..perhaps it’s you who should consider further education??

BF

If you have a look at the debentures secured by the lenders on all Angus assets on companies house, the compressors are listed as I recall. So yes I think they are paid for…….The side track circa £3 million I doubt is however.?!?!

Yanis
I think you should listen to the interview again. The answer from the Q And A says is also answered in the CPR regarding drop off.
The answer actually tells you that the plant is rated for 10Mmscf not the compressor package which are quite clearly rated for 5mmscf! Why else would the have put “ the target production rate after the sidetrack “

GL clearly disagrees with your last comment according to the LSE interview.

HITS
People need to take into consideration the fact that in all likelihood they will not be able to produce and drill the sidetrack at the same time. If as GL let slip in his last answer from the interview available here that they can’t even use a camera when the plant is producing, does anyone realistically expect them to drill the sidetrack with the masses of equipment that requires?? Between 45 days and 16 weeks depending on the information freely available in the public domain from the company itself.

Yanis
Yes but they only have one on site!! And as I said rated half of what was claimed!! Its available all over the place Here are just 2 examples … Each unit is rated at 5 MMscf/d each, Perhaps they have tweaked it to get the extra 10% GL talked off in the recent interview when he also confirmed what I’m saying!!

· Two gas compressors packages are currently being designed by specialist fabricators in Kent. Each unit is rated at 5 MMscf/d each with Caterpillar gas engines and Ariel reciprocating compressor sections. The engines and compressor ends have been identified and secured for the project. Delivery to site of the first pre-fabricated unit will be in October.

https://www.lse.co.uk/rns/ANGS/saltfleetby-field-finance-and-operations-update-6ubb80yfyuet376.html


Core item of 2 compressor/engines ordered: first service (5mmscf/d)
delivery date fixed for 15 November = sufficient compression for resumption
of production from SF04 and 02 around year end

https://www.angusenergy.co.uk/wp-content/uploads/2021/06/ANGUS-ENERGY-PROACTIVE.pdf