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Noel, right decision, good luck.
Forgot to add to the distractions:
Don’t worry about how much flow we get from Brockham atm.
Don’t worry about how much condensate we procure.
Yes, everything helps, but these revenues are chicken feed compared to sales of gas.
As usual, DYOR though.
With a successful sidetrack (and why wouldn’t be successful) and second 1st stage compressor installed Angus becomes a money printer.
Don’t be distracted by those trying to focus attention on 5 MMSCFD and ignoring potential flows, or like DRB trying to work out Angus’s payroll.
At 10 MMSCFD starting from January, Angus’s debts (£12/14 mil loan, £6.25 mil for 49%, £1.4 mil CLN & deferred hedge) all pale to insignificance when you look at earnings at 10 MMSCFD. Ignore the distraction but DYOR. These are my views.
Morning all, 10 MMSCFD and 250p per therm … is dizzy money
https://twitter.com/yanis_2005/status/1573927941960089600?s=21&t=khPUiVSJwS3m0gch9UCxdw
I do hope there is something behind Friday’s spike. Fingers crossed volume continues on Monday.
Noel, do what’s suits you. But, this is MEGA.
Adding the second compressor in is not an issue. The second compressor will be identical to the installed compressor and as far as control logic is concerned is a matter of duplicating the logic of the installed compressor for the second compressor plus a little more programming for integration.
Instaling and commissioning the second compressor will be nothing like it was for the installed compressor., will be done much quicker. A small shutdown will be required if they have not planned forward. If they have however installed common suction and discharge headers with the necessary valving, a shutdown maybe avoided.
Either way, when you look at revenues at 10+ MMSCFD is a fortune to be made.
Do what you please though, these are my views. Do your own review.
Hamsters, we ARE there mate. Last 6 days without trips GL said. THat’s it, is done. All instruments calibrated and all controllers set at stable settings. Now is a case of winding controllers to their optimum production settings. We are there mate. Cheers.
BV, sidetrack drilled and compressor installed this year will be mega, but I will not be disappointed if it slips a little. When 10 MMSCFD + hits Angus will be transformed in to a money printer.. Is all good mate.
Don’t be fooled with talk about what Angus owes (£12 mil loan, LCN, buying 49% SFB, deferred hedge) or cost of production, all will be insignificant compared to revenues next year at 10+ MMSCFD. We are on a winner here, and they doin’t come easy on AIM.
Herbert, mate my favourite whisky is single malt too. I love Glenfidich 18 year old but the damn think is close to £100 a bottle, is for special occasions :) A nice whisky that will not disappoint, at reasonable circa £20 a bottle is Irish whisky Twllamore Dew, triple distilled. Blended but will not disappoint, guaranteed.
Those who know me, know that I don’t pump. However, the below is a fact.
Don’t be distracted by negative posts. It doesn’t matter what Angus currently owe, e.g.
- £12 mil loan + interest
- £6.25 mil for 49% acquisition
- £1.4 mil CLN
- Deferred hedge (at 450p/therm for July & 380p/therm for August, adds up to £8.4 mil)
IT DOESN”T MATTER if the second compressor is added and the sidetrack delivers another 5 MMSCFD, and why not? (I can see the distraction it coming on this one)
10.5 MMSCFD will deliver for 2023 (year of peak hedge):
£52.8 mil @ 200p/therm
£75.0 mil @ 300 p/therm
£97.2 mil @ 400p/therm
(Had it been unhedged it would have been £125 mil @ 300p, so think about what is coming after hedge is over)
Will Angus be like Gold mine at 10.5 MMDSCFD? — No — it will be a money printing machine.
https://twitter.com/yanis_2005/status/1573667756205133832?s=21&t=XT3avas0cQ1gvN06BhEEsA
https://twitter.com/yanis_2005/status/1573713514677542915?s=21&t=XT3avas0cQ1gvN06BhEEsA
https://twitter.com/yanis_2005/status/1573718346691903488?s=21&t=XT3avas0cQ1gvN06BhEEsA
Howey, I am impressed mate. To write such a post in the middle of the night and with vino in hand is quite impressive! I am not going to try and pick holes in it, how dare I :).
BTW, Malbec is my favourite, I am drinking some now, cheers.
Good interview and the confusion about compressor size has been kind of resolved - the second stage if installed is one compressor sized for 100% flow. The first stage needs two compressors sized at 50% flow, one installed & one to follow.
The comporessors are always sized for design case + margin, 10 or 20%, not clear what we have here. Also according to GL the installed compressor is refurbished and we don’t yet know how far up above design case it can be pushed.. But it could do up to 6 MMSCFD. Great. Two compressors should easily push at least 12 MMSCFD.
We need the second compressor installed hopefully this year, but even if a bit later it should not be a big issue, in my opinion. Sidetrack adding another 5 MMSCFD will turn Angus in to a money printing machine.
Selling at 0.3p? Feel your pain. I wish you had the nerve to hold.
I added more because AR was adding. But I have already written my holding off anyway, was down so much that It wasn’t worth cashing in. I just could not write about £50k off.
I hope we get a buyer .
Geeman, oh dear!
Have you sold your shares?
I been adding, increase my holding. I am just below 1% I think so I will not be adding more as I don’t want to file
DRB, this is definitely the last response to you.
I use daily figures yes … to calculate revenue. That is it. After that you can group monthly, quarterly or yearly.
You on the other hand?
“ There is absolutely no point in doing a daily cashflow. How can you. Does he know what day of the month wages are paid, suppliers are paid, tax is paid, finance charges are paid’
You are trying to work Angus’s payroll - seriously?.
DRB, my answers are not distorted.
5.4 MMSCFD covers the full hedge commitments (with every month generating positive cash) up to a price of ~230p per therm.
At higher prices, some months between Jan23 & Dec23 may fall slightly below but average out over the year. For those months gains from previous months can offset the shortfall.
The point here is the flow from the two wells more than satisfies the hedge and any extra flow from the sidetrack is all cash for Angus.
But, feel free to try and distort the facts.
Latino, hope so. It will be great if this crazy buying continues on Monday. Loved to see the MMs shorting it getting burned :)