Member Info for Yanis2005

BV, mate I don’t follow. You mean the picture posted in the post below?

And what about the answers?

Which picture is that BV?

EchDelta, the rig happened to be in the background when the Analyser House picture was taken. Is not clear how long is been there. We don’t know whether it was brought in recently with the intention to drill the sidetrack now, or whether it has been there for a few weeks when the intention was to drill before 1st gas and is now awaiting to be taken away. If we go with the RNS, then it is the latter.

BV, if the rig was operating wouldn’t GL say something?

Afternoon BV, I’ll say that they do not need EA approval for the sidetrack because they are not applying for it. Looks like the sidetrack is included in the existing permit.

The EA approval that Angus is seeking now is a modification to the existing permit and only concerns surface facilities. It is simple and EA should award this with no significant issues.

HITS, maybe they did forget to cancel, or they already paid for it to be there for a set period.

It is possible to get EA approval this month, SFB is quite different to Brokham where EA approval is still outstanding after all this time. SFB is far less complicated, it is a simple variation to an existing approval.

Angus estimates EA approval by 17th Dec and also stated that they are in constant contact with the EA. If this the case, then approval within the next two weeks, we shall soon find out.

WG, yes I just daw the rig in another picture. I don’t know why is there.

EchDelta, if all goes to plan this time then the next news will be EA approval. Fingers crossed.

WG, the crane? purely to offload and position the equipment.

Analysers house being installed at site. This is installed outside of the hazardous areas and will be unaffected if any demands are imposed prior to EA approval. EA approval still a crucial milestone.

https://twitter.com/angusenergyplc/status/1468533450512732167?s=21
https://twitter.com/angusenergyplc/status/1468533616116482052?s=21

Analysing the situation a bit more, looks to me as the most important milestone that needs to met in order to achieve 1st gas in Q1 is in fact EA approval.

Very doubtful that Civil Works will kick in without it. Also, upon EA approval it is possible that Angus once they overcome this hurdle will seriously ramp up site activity and expediting of equipment delivery.

I think this is the reason that they come across as vague and delivery deadlines slip. Nobody needs to tell them that the earlier we get 1st gas the more money they will make before the hedge kicks in. They know this, and probably are frustrated as much as we do. Ofcourse nobody has control of EA, they will come up with a decision when they do. Cannot rush them.

It is possible that Angus revised delivery dates as a result of discussions with the EA. It may not be all that bad.

Fingers crossed for EA approval before Christmas.

There are two important milestones to achieve 1st gas Q1 (2nd half of March with current delivery schedule):

(1) EA approval obtained this month. I think the reasons the Civil Works have not been awarded yet is because they are waiting for the approval (WG mentioned this earlier and I agree with it) - possibility of EA asking for alterations to the site. So obtaining approval first makes sense. Fingers crossed it arrives as expected. WG818, is right in that it will save a lot of time if packages were delivered and offloaded straight on to the foundations. But still, 1st gas Q1 can be met as long as delivery for rest of the equipment does not slip. Delivered equipment will be offloaded on to a lay down area and then moved on to their foundations after they are build.

(2) No slip in delivery schedule stated in last RNS.

If (1) and (2) are met then we should get 1st gas on the grid in the 2nd half of March. Fingers crossed.

Torreguas said “ if that is the case I will do.”

I will also do, not happy with it but will increase my risk and buy more to reduce average down a bit more.

Torreaguas, the slippage is not due to Covid, you are forgetting that construction was allowed to continue? I have been working during lockdown in O&G (on design though), our schedule did not slip and equipment vendors were screaming to get work. If a firm order was placed, they would have delivered.

The trouble is no firm order was placed, Angus was waiting for funding to be approved and then place a firm order (and rightly so). The delivery counter then started kicking after order placement. Covid had insignificant impact on this.

Torreaguas, Friday you will be able to buy at 0.65p and next week may be a bit less.

Ocelot, I noted that - I did say that it arrived on schedule as per last RNS, and, I hope the rest of the items arrive ahead of schedule.

BV, that’s is exactly it … just think about how much more money Angus would have made if the met the original (revised post £12 mil funding) schedule for 1st gas early Jan before hedge kicks in.

I don’t believe that a merger will benefit us. I agree with Serif on this one as EOG is in much better position fundamentally than EDR, and UJO.

The Irish asset will be of immense value once the Irish wake up and smell the coffee and I think they will wake up, is a matter of a bit more time now.

Morocco? Didn’t Simon say that we may hear something on this this year? Be nice to get an update irrespective of deal closure.

IMO, what we need is … I think we all know.

Taverham, I agree with the NRO but I am more concerned about two things: (1) EA approval and Civil works starting this month (we shall see before Christmas) and (2) equipment delivery slippage. With current schedule I expect Angus to have 1st gas to grid by the second half of March. Further slippage in equipment delivery and will jeopardise this.