Member Info for Yanis2005

Morning BV, looks like an attempt to pump to me.

There is nothing I like more than seeing the SP at 4 or 5p. It will be all my birthdays at once. I still hold buys in high double digits.

This rumour has been circulating on social media for a second day now. Angus has been copied in in the Twitter posts and has replied via email to one individual. So, Angus is now aware of this rumour.

As per AIM regulations anything that affects the SP has to be RNSed, and this rumour does affect the SP.

If Angus does not issue an RNS to confirm or deny this by COB today, I will be checking in with AIM Regulation. Enough is enough.

Promised months ago and no serious buys happened yet. George Lucan promised this in the Proactive one2one presentation long long time ago.

Will this promise be fulfilled or will it be a failed promise?

It is time for all directors to buy in the open market and send a message out there about how undervalued Angus is and further align their interests with the long suffering shareholders.

After all this a “value” play and they cannot loose. Win-Win.

Geeman mate, a TU by next week will be just fine. I just hope they don’t include any caveats again.

As long as we get a TU by next week the SP should hold where it is until the TU is announced. Our problem will be if no TU until January. I expect the SP to start drifting up after TU announcement, unless they just hit us with it and then the SP will shoot either direction based on what is said. GLTA.

BV, fully agree mate. I do not believe that GL would even consider selling SFB. It Is his baby.

I believe that this is a rumour that somebody started hoping to help the SP … and looks like it is working.

Now that the rumour has been circulated around here and on twitter and @angusenergyplc has been copied in I expect we will be getting an RNS soon to deny the rumour.

BV, I hear you and wish us both good luck. I cannot say I am confident though since Angus has not done enough or said things to convince me that 1st gas will be achieved by the end of February. But, based on what I saw I am hopeful for 1st gas before end of March. Whether this can be met or not we will get an indication in January.

Firstly, let’s see the Civil Works contract awarded and works kicking off in the middle of December (as stated in the RNS).

AKI, thanks for that - if true we should be getting a TU this week.

BV, and to answer your question about been happy, I wish I could say yes, let’s just now put it this way - I am hopeful.

There were a few things in the RNS that did not add up and did not make sense to me as they were inconsistent. I will not go in to it, let’s just put this down to an assumption that not only the RNS was rushed but whoever composed it is not exactly expert in this field - after all this is the first plant ever that Angus is trying to build.

Morning BV, Ress does not have the required expertise to understand the issues here. He stated a few things that indicate lack of design and engineering knowledge, he is a Commissioning Engineer with limited knowledge.

I doubt it very much as to whether Ress has ever been inside a Design and Engineering office working on the engineering and design of new plants, or modifications to existing plants, nothing he said so far points to this.

To the uninformed he sounds knowledgeable and that’s about it.

A big drop today down to 0.70p Bid – the question is why? Why did the market react negatively to the RNS?

FWIW, my opinion of why the market reacted negatively, the reason is two-fold:

(A) Whilst the market focus in on SFB, announcing Lidsey seismic results at the same time and in the same RNS as SFB progress caused a distraction. Is seen as a diversion and induced doubts on SFB success. Lidsey seismic results should have been announced separately in a different RNS at a different time.

(B) The SFB content of the RNS is cloudy. We were told in answer to IQ that the SFB plan will be included in detail in an SFB investor presentation to be issued in November – where is the presentation? (IQ response: We have in mind a further presentation this month on precisely this level of detail with a list of all suppliers and their best estimates of timelines etc)

The RNS was issued in the last hour of trading on the last day of the month and appears to be rushed and not thought out in detail. The RNSs of 2 August 2021 & 11 August 2021 were much better in equipment description and content than yesterday’s RNS. Yesterday’s RNS does not address the equipment listed in the previous RNSs. Yes, it is still claimed that they will meet 1st gas at the end of February but the market did not believe this. The RNS failed to instil this confidence.

Ress,

I can see that you are indeed working in this industry. Let’s get an idea of what we have here and see if we can guess how much time we need to put it together.

I do not see a requirement for SCADA system here, is only one small site and operations will be manned. No remote sites. Also, DCS is not warranted, to keep costs down use a PLC for overall control.

I can see the following systems / subsystems:

1. Overall control & safety system (no DCS, PLC to keep costs down). Use a certified PLC IEC61508 SIL 2/3 certified so that it can also perform the emergency shutdown functions requirements.

2. Fire&Gas detection system, PLC controlled.

3. Fire protection system(s) - study will define (unknown at present).

4. 1st stage compressor package & controls

5. Dehydration package PLC controlled, own PLC for fast testing installation & commissioning.

6. Joule-Thompson and Dew Point package own PLC controlled for fast testing, installation and commissioning

7. 2nd stage compressor package (HPC) & controls.

8. Analyser & Metering Package with own metering PLC.

9. Flare & Ignition package.

10. Fuel gas package under overall PLC control.

11. Power generation packages for site power and export surplus power to the national electricity grid. They use fuel gas from site.

12. Electrical switchgear & control systems

13. Piping works linking all systems together.

Civil works excluded, I cannot think of anything else, can you Ress2093?

I in my opinion, we will need about 2 weeks on average for each individual system for installation and commissioning after delivery to site.

After delivery of the last item, I estimate we need about 4 /5 weeks for completion of the piping works and overall commissioning.

Do you agree Ress2003?

Ress2003, so you will route the gas to the flare stack to check instrumentation.

Three questions:

1) Do you mean that this simulation is done to check all the instrumentation? Including that on the HPC and gas export metering and analysers?

2) You did say that the flare stack will be rated for this purpose? What would the flare pressure rating be?

3) You are talking about a DCS and PLC. How many PLCs do you recon will be required and where?

Pay a word in …auto spell lol … put a word in

WG818, I must admit I haven’t gone as far as reading the small print before but what you state is there! I suppose that is why they don’t care about what they RNS!

Ress2003, there are quite a few inconsistencies in what your are saying, but let's just take one - you state “The main HPC is what puts the gas to grid, but they could do what we call simulation, so without the HPC they can simulate gas to grid and use the flare stack etc, and flare am sure will be rated to a certain pressure to allow for this”

Would you care to explain how they can do away with the HPC and use the flare stack in a simulation? Also, what would the flare stack be rated at to allow for this? What pressure?

Geeman mate, there better be a TU in the next day or two. If they don’t until January then the SP, by all indications, will collapse and will take substantially more effort to revive it back up. Is as simple as that.

Better be a TU and with no caveats. If you have a line, pay a word in :) :)

Ress2003,

You claim that you know this O&G business very well and you state “ If you read my post pretty much what I said with time lines and kits is pretty much what ANGS as announce today” - would you care to enlighten us please? How do you see SFB progressing from here on?

Also, the RNS stated this “6) Gas process plant elements commencing mid February 2021” - what do you think these items are and would you care to explain how these items will be received at site, installed, commissioned and integrated with the process plant and control & safety systems, and after that the complete plant is performance tested all within two (2) weeks so that we have 1st gas at the end of February?

Your clarification of this will be much appreciated. Thanks in advance.

Noel, thanks for the good wishes and wish the same with your investment decisions too.

Truly, I am happy and confident with my position in FLX. My only regret is not having any more spare cash to add more at this level.

Ocelot, Lidsey sounds interesting but if things don’t develop as they should it will bring no value to existing shareholders, in fact it will be detrimental to them (if things don’t develop as they should).

This means that the top priority, the number 1 priority right now is SFB - and this is where we should all be concentrating right now, including Angus. We must get first gas out in Q1 2022. From what I seen in the RNS today I do not believe that 1st Gas by end of Feb is doable, end of March, yes.

Lidsey at the moment comes in to the “jam tomorrow” category. Lidsey at the moment is a distraction. Let’s get SFB going.

A pity this RNS came out on the last day of November and not a few days earlier before the SP crushed below 0.85p. But we are where we are, hopefully now it will slowly pick up.

RNS out
https://www.lse.co.uk/rns/ANGS/lidsey-field-reinterpretation-saltfleetby-update-nx6jx5tdhbp4nms.html

We got some dates for some of the equipment. Not too detailed but at least we got dates for Civil Works start, equipment delivery and confirmation of 1st Gas at the End of February 2022. Looks a bit tight to me but we don’t have all the details.

If they keep to this schedule we will see a rerate. Hopefully they will.