Member Info for WG818

JD-Nau
I hope you have calmed down now? Calling other’s Liars is frowned upon by Admin don’t you know! With that in mind I attach the following. Please actually read them before throwing any more baseless insults old chap!

Obviously I can’t give you any links to Aleph as they haven’t even been around for a year yet....Strange that! ....Do you think it’s anything to do with that legal action being brought against Angus? I can however give you a link to Mercuria the other lender who quite obviously do Hedge!!

https://www.mercuria.com

The 16 week timeline For the Sidetrack program is in this Aecom presentation. It also says they hope for 4 to 5 MMSCF from the two existing wells on resumption and possibility that they may require workovers at switch on.

https://consult.environment-agency.gov.uk/psc/ln11-7dj-angus-energy-weald-basin-no-3-limited/supporting_documents/NonTech%20Summary.pdf

It seems to be beyond you so……Zoom into Saltfleetby it’s just below the Humber bridge. You then have all the info you need.

HTTPS://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa

Anything else you want?

You started so well!! Gone down hill rapidly after that though.
The link supplied gives you all the information. Try spending 10 minutes looking at it and you may change your opinion. Or carry on posting trying to discredit those who have actually done some research.

Your lack of an answer sums your argument up nicely. Tou don’t have one!

What was the share price when those Wonga loan guys bent Angus over a barrel? About 20% above today wasn’t it? Says it all really with gas prices as they are.

JD

I’m afraid you will have to put a little effort in to get to the figures.
They have been put up on Twitter if you can be bothered to look #ANGS

I had the courtesy to post you the link as requested.
it’ says more about you than I that you couldn’t figure out or take the time to get to the figures!

Could you do me the courtesy of replying to the question as to why Aleph and Mercuria would possibly slow Angus to delay the sidetrack possibly costing them millionS?

Your wait is over!!…. Would you like me to post the charges placed over the company and SEL that cover that £12 million? Or the Knowe charge for £ 1.4 million due in April as well ?

Hardly a risk for them! More like a last chance Wong’s loan at the time.

https://data-ogauthority.opendata.arcgis.com/pages/production

That would be a Good post JD if it wasn’t for the fact that it’s mostly irrelevant.

The OIL CPR makes it clear that it is compiled on information supplied by Angus, is based on a different well drilled into a different formation and didn’t include the £12 million loan.

Hard to see where they got some of the figures from when compareding them to the OGA published ones.

Yes if this were a normal company you would expect the share price to be well north of here thanks to the price of gas.

Why is that? Because nobody can believe a word they say anymore!

Why aren’t the BOD and industry experts pulling in?
Because it’s out of their hands now!

Lenders, contractors, and government agencies will decide the future now. Why would the lenders possibly allow them to only supply at best half the gas and lose millions?

Good post though if it were realistic!

RT003
The “hard facts” are that when the gas flows is largely out of Angus’s hands now. Totally reliant on contractors, suppliers and The relevant authorities and the agreement with the funding partners now.

Lucan knew all this and had ample time to have this in place. He knew lead times were 24 weeks back in September last year, he should have known that the EA can take over a year to make a decision (just look at the current Brockham application) still not decided. He does know that it’s not a case of the last bit of kit turning up and switching production on as the in house timeline proves. About 2/3 months on Angus own estimates. The second compressor is due in Feb and the 24 week hoped for for the due point was the last week in Jan…. That’s if they haven’t been pushed down the list by higher priority clients!
He will also have negotiated the loan on double the flow rate some are calling for here for short term gain for Angus at the expense of the lenders is pie in the sky. I guess it’s Possible but not likely!

We don’t even know what what 70% on average means. It could very well be on the projected 10Mmscf and be reduced to 100% @ 43p hedged at 4 or 5 which the company itself says it hopes for to cover the lender.

I’m sure they thought the Ea permission was a forgone conclusion at Brockham as well. Didn’t the EA withdraw it after the consultation!

Peter

You’re not being rude but somewhat naïve. Of course what you say makes sense at first glance. What you say is irrelevant anyway as they are going are going to miss this winter anyway. But If you have actually read the RNS’S and interviews given, understand what has been submitted and accepted by the OGA in the FDP, Understand what is actually likely to be produced and when, the drop of rate, water cut, and life expectancy of the 2 previously producing wells, weather the gas produced will actually be able to pay the loan at the reduced rate at the time when prices drop as they will, well that should be enough to think about.

But then you need to remember the partner SEL and the £12 million lender who are hedging and would lose a fortune at the reduced rates,. I highly doubt they will be happy to postpone because it suits Angus? Why would they possibly agree to that?

I have run a business for more than 30 years by the way..... Hope that helps!

Peter. They have a slight issue of drilling a 16 week sidetrack in March going by company guidance. They cannot produce any gas while it’s happening.

The companies own in house timeline gives a two month commissioning and certification so don’t hold your breath for any gas before the hedge kicks in.

Blimey even cudd seems to have accepted they can only get 4/5mmscf now!!

Not sure they could be described as “non investors” and definitely not a “cabal” Ocelot!
As I recall they were anything but secretive! Who knows if Angus stumble completely by accident (with gas prices beyond their wildest dreams) into actually making any money the lawyers may get interested again??

Ocelot, perhaps it only exists in a fantasists mind?

Cudd
“The notorious cabal” you really should look meanings of words before posting to try and impress with your command of English…..They are a well known secret then!! …..Lmfao …your making yourself look even more ridiculous than you have done already!!

Who says I’m not invested?
I can only guess that the likes are more from those who sore though you’re I’m buying in posts than anything else.
I’m afraid we have all seen that type of guff far to often to believe it.

Remind me again how much Gas Angus produce Bunsen?…….or oil for that matter.

Every man and his dog will be looking to get production up.
Angus have missed this winter and I’m sure the partners and those that would have made fortunes on the hedge won’t forget It when it comes to the time overruns and the costs involved when they can’t pay the loans back in due course?

Not to split hairs Hits, but the last production was in March last year…….It’s actually 19/20 months.

Strange…..I can’t see a any £5k buys bunsenburner! Have you had second thoughts after doing a bit more research, or should we take “looking to hold £30k” with a pinch of salt

Lol. Most of it is secured against SEL as the RNS states….. they also have that attractive £ 18 million “Captain America “ tax shield GL mentions.

Could be something to do with the fact they can’t lose with the charges they have in place!
Thanks but I don’t require you permission to post on a BB even if the answer is uncomfortable for you!

Donk

The trouble is they have contradicted and forgotten to mention 2 other failed sidetracks in previous answers on the subject.

I read in the accounts of Wingas that the last well drilled – SF07 encountered a lot of difficulties and had to be shut in. What makes you confident that you can make more of a success of your proposed sidetrack through SF05 scheduled for 2021? (This question formed part of larger question already published but the full historical data has taken a few days to assemble) Asked on 5 August 2020
The Saltfleetby 7 sidetrack was drilled from the B site towards the West, as can be seen in Figure 5 in the CPR (Structural Map of the Top of Westphalian Reservoir (Unit 2b)). The well was first perforated in the Brinsley Abdy formation, but failed to flow oil. Thereafter there was significant differential sticking in the Westphalian unit and the well was sidetracked to penetrate the Namurian C which was thinner than prognosed due to faulting, and so another sidetrack (SF07Y) was drilled into a thicker Namurian C sand. After completion and perforation in 2003 the well flowed 2.4 mmscf/d of gas on test. However, once the well was linked up to production equipment it became clear the reservoir had suffered some form of permeability impairment and the well gas rate was restricted.

With respect to the upcoming SF05 sidetrack, this is to be addressed from the B site in completely the opposite direction towards the East, tapping a prolific part of the reservoir. The well is to be drilled using techniques that will negate the impact of any differential sticking, and also in to an area where there is good well control (SF3z and SF5). Therefore we have good reason to be confident that we can avoid any of the issues seen in SF07.

I’m sure the drillers on the previous 9 failed attempts all hoped they would be successful.

And what security are they going to use against that £ 8 million? Everything they and SEL have had charges against it from Aleph and Knowe!

As you should know the gas is 70%on Average hedged whatever that means and they won’t be producing for six months at best probably 9/10 if the sidetrack is started in March. What happens if it’s another duster? The last 9 attempts all failed and the one semi successful one that produced before it failed only flowed at 2.7mmscf.

We are along way from bagging! More realistic would be a fund raise don’t you think?

Astonishing as in they are all best case guesses?

Or that they used CPR figures that have used are at least £12 million out and from a different well! They don’t mention the sidetrack they need to drill and must be prolific into a depleted reservoir to pay that £13.4 million plus interest either do they? £5 million odd by June next year! How are they going to do that without any income?

Or the fact they cut and pasted the same answer regarding permissions?