Member Info for Yanis2005

I have all the patience in the world for this stock, any spare cash will go straight in to it. Not much time to add though, a few more weeks maybe.

Last year we had a TU on 3 December 2020 (and another one on 21 Jan 2021) - not long - 3 Dec is 7 weeks away.

WG, the gas was previously refined at a nearby gas plant which closed. So it was still refined in the same area.

HITS, assuming the plant is up and running I don’t believe that they will not be able to meet the hedged volume. That volume should have been decided on the lowest of the estimates.

For me the biggest issue is still the EA (which now looks like it will be approved relatively quick). I will relax after this permit is given and I do believe that SP will see a substantial rerate on EA approval.

I originally thought …

WG,

I original thought that the variation was to transform the site from a purely extraction point into a processing and distribution centre and that is what worried me. But is not the case.

One of the responses:
“Angus Energy plc, through its operating subsidiary Angus Weald Basin No.3 Limited, was granted planning permission by Lincolnshire County Council (LCC) in July for the development of the gas well and plant at Saltfleetby, including a sidetrack.”

It is clear that the permit for the plant has been granted. The variation is a small (non?) issue and should be decided relatively quick.

EchDelta, yes, looks a lot more positive than it did last week. I think is only a small variation to the permit and will very likely be approved, soon.

HITS, thanks for clarifying gkb47. Cheers.

EchDelta, this response must be from Angus. Anyway, I now feel more confident that the EA will be approved in good time.

Top up time IMO :)

Responses closed 6 October … we could hear something soon.

Another response:

“Angus Weald Basin No.3 Ltd. Saltfleetby gas field development

Angus Energy plc, through its operating subsidiary Angus Weald Basin No.3 Limited, was granted planning permission by Lincolnshire County Council (LCC) in July for the development of the gas well and plant at Saltfleetby, including a sidetrack.

The application by Angus for planning permission, submitted to LCC in April, where it discussed the sidetrack, included a well test and clean-up, which it suggested would take two weeks, with an interval of two-three weeks between completion of drilling and the start of well testing.

Presumably the planning consent was granted on the basis that this well test would be done.

Last Thursday, 29 September, the company asserted in its investor Q&A session (printed on its website under “Media”) that they were no longer planning to conduct a well test/clean-up. This was to save time.

I am writing to you, therefore, to ask whether there are any safety or other issues involved in Angus’s decision, and if so, whether Angus have cleared the changes with yourselves and with the other relevant regulatory authorities. I would be less concerned if Shell or another major oil/gas were the operator here. Angus, however, is a minnow, with staff currently being trained to operate their plant, once built. It also needs to generate significant revenues from the project by next Spring in order to be able to meet the interest and capital repayments due in June 2022 on the large borrowings which it negotiated in May this year.

I have written also to Lincolnshire County Council and the OFA in similar terms on this matter.”
——
Looks like the variation is elimination of well testing and clean up?

If so, is a non-issue.

In the responses there appear to be no significant objections.

“The proposed variation to the permit reflect the planning permissions and permitted development previously obtained by Angus Energy”

This is one of the responses which implies there is no significant variation.

WG, thanks for the links it does give an idea of the process and timelines.

James, thanks for the link too - is what I was looking for to monitor progress. So the consultation period has closed and this is a good sign. How long will it take from here on until decision though?

James, I hope you are right about the EA.

Does anybody have a link to the EA application (ON THE EA WEBSITE) so that we can monitor progress?

My innocent post asking what happened to gkb47 also disappeared.

BV, I think you are right … what is the point of posting here? Is bad enough the website is playing up and is not easy posting ; coming up with cashed pages etc.

Candi, you have a holding at 0.32p and you are here moaning? In all likelihood you will make a hefty profit!!

Hedge kicks in in July?

Surely SFB will be up and ruining by then? EA???

No. 3 is what I been banging on about. Long overdue.

James, we are not hearing much from Angus now because of the dark cloud … the EA approval. I don’t think that they can install any equipment on site until the EA approval is obtained. They may not even be able to deliver the equipment to site without EA approval. Hence quiet.

I asked this question on IQs, in two parts (1) their expectations on EA approval (2) would they be able to carry on with equipment installation without it. They answered (1) but not (2).

The only positive I can now see is that GL is still expecting 1st gas in Q1 2022. Maybe he has positive feedback from the EA?

Crocqman, I agree on SP appreciation on tangible progress and delivery. I also believe that Director buys have a psychological effect and it improves sentiment.