Member Info for Yanis2005

Jaffy, you are welcome.

Baits, good luck whatever you do.

Baits, are you back in?

BV, just for you since you asked me. I submitted the following IQ:

COMPRESSORS:

The required number of compressors to satisfy full (i.e. present & sidetrack) Saltfleetby gas production requirements is misunderstood. There is widespread belief amongst shareholders that the gas flow cannot be increased above current level (about 5 MMSCFD) without an additional compressor installed.

According to the Process Flow Diagram (PFD) filed with the documentation for EA/NSTA approval, two compressor packages are currently required; 1st Stage before the Dehydration package, and 2nd Stage after the J-T package.

There is also a 3rd compressor, a Booster Compressor not currently needed but will be installed in the future when wellhead pressure is reduced.

Would you please clarify/confirm the following:

(A) Are both 1st Stage and 2nd Stage compressor packages installed?

(B) Each compressor package may have been configured for 2 x 50% design capacity (i.e. 5 MMSCFD) or 1 x 100% capacity (i.e. 10 MMSCFD).
Noting that there has been reference to 2x50% in an RNS and 1x100% in a response to an Investor Question, would you please clarify the installed configuration (i.e. 2x50%, or, 1x100%) for both 1st Stage and 2nd Stage Compressor packages.

Thank you.

On the technicals side, the SP bounced off the 200D-MA, normally strong support. Fingers crossed the sellers are out and we will now drift back up.

Serif, I agree with you. Is frustrating though.

Having said that’, I had the same frustration at Angus for many years, but look at it now.

I know, patience. Our fortunes can change in a sec. I am holding tight, but I cannot say I am not bothered with the SP drop,. Hopefully Simon’s Proactive interview today will change the trend.

BV, Balcombe is horizontal well. I hope we manage to get back to it.

VHB, is just annoying. This wasn’t meant to happen. My last 500k top up from a few days ago has put me under £3k already, and this is just on the last add. Who TF is selling?

DRB, you have flow (MMSCFD) and the price of gas (pence per therm). We can play with them as we please. Different set before.

In the post below, my calculations consider 200p per therm and two flows 5 & 10 MMSCFD. They take in to account the deferred July & August hedge. There are £millions for Angus.

I believe my calculations are correct. If you don’t like them, you could do your own.

Bid 2.25p … WTF?

Where next? Below 1.8p? Often the SP falls below placing doesn’t it?

This is damn ridiculous. We were at 3.7p before the heavily discounted placing for Serenity … for a slightly better than 50-50 chance of success. A coin toss, and if it lands wrong?

Where would the SP now be if it wasn’t for Serenity? 5p? 6p? 7p?

BV, tbh, the issue with the compressors is a bit confusing to me but I didn’t give it much thought.

The process flow diagram submitted to the EA/NSTA shows a requirement for two compressors - 1st stage gas compressor before the dehydration package, and, a 2nd stage gas compressor after the J-T package and this makes sense to me. However, GL said there is only one compressor installed at site I think and this would mean a design change and removal of the second stage. But, GL referred to 3 compressors. Note that there is space for a third Booster Compressor to be used in the future when the well pressure drops. So, I don’t really know what is really happening with the compressors, not without looking at a Piping & Instrumentation Diagram.

Anyway, I am not concerned. As GL said in an answer to an IQ that all compressors are sized for 10 MMSCFD.

Adding another compressor in the system though, will definitely require a shutdown and I don’t think we want this now, seen the problems with start up. Let’s get some cash in first :)

BV, correct … that is excluding the SFB condensate (significant at 50 bopd, could now be more) … and excluding the Brockham revenue …

Hold tight mate, I detect a lot of turbulence ahead!

Warrants are holding the SP back for now, but those warrant holders will very likely end up regretting selling this low.

I have run some calculations in quite a bit more detail and I repeat again:

5 MMSCFD covers full hedge commitments, including deferred hedge at 200p per therm, yes 200p. At 200p per therm,

5 MMSCFD at 200p per therm gives Angus
2022 - £3.7 mil
2023 - £5.6 mil
2024 - £13.5 mil
2025 - £27.7 mil
2026 - £39.7 mil

10 MMSCFD at 200p per therm gives Angus
2022 - £13.7 mil
2023 - £45.2 mil
2024 - £53.3 mil
2025 - £67.4 mil
2026 - £79.4 mil

This is HUGE … better than a gold mine. Stratospheric!

I am sitting tight, buckled up, holding on my hat and enjoying the ride. I wish I had more spare cash to add some more at this level. However, these are my calcs (and I stand by them) but each to their own and good luck to all.

https://twitter.com/yanis_2005/status/1572881922665357313?s=21&t=FOJFHlDVSu-YB0MeZTwd3g

https://twitter.com/yanis_2005/status/1572882871077183488?s=21&t=FOJFHlDVSu-YB0MeZTwd3g

5.88 MMSCFD …..

A4 - 2.82 MMSCFD
B2 - 3.06 MMSCFD

Total: 5.88. MMSCFGD

Buckle up!

https://twitter.com/yanis_2005/status/1572875223942176769?s=21&t=FOJFHlDVSu-YB0MeZTwd3g

Herbert, You put it better than me - fully agree.

Appraisal or not, I was not expecting this well to be plugged and abandoned - and looks like the market in general was not expecting this either.

I follow fundamentals and technicals and in all the time I been invested in EOG I have never seen the technicals this bad. The sentiment is killed.

In all my time in AIM (and spans a few years) I never seen a company’s SP drop like a stone when the drill starts. In fact one company with only 20% chance of success went from under a penny to more than 5.5p. I don’t think the EOG SP will now move up before drill results. And then only if the drill is successful. And then again depends on how it will be announced.

In AIM Sentiment is King.

Facts are facts - the SP is dropping like a stone instead of doing what is suppose to do and shoot up - Why?

I blame the PR for it and the “prudent” £1 mil loan.

Bladey, if this well is going to be plugged and abandoned, which well is the sidetrack going to be drilled from?

CCF, that is exactly my point. The RNS could have been written differently/ further explained - not all invested here are oil experts. Is only words, no additional cost to make the RNS a little longer.

In my case, it is the first time I heart that the well will be “plugged & abandoned”.

Thanks Tacuma. Is terrible that we cannot discuss an issue in a civilised manner.

Simple point here - not all invested in an oil company know the ins and outs of company operations, just like those invested in pharma.

Serif, cheers. My point is, looking at the market reaction, perhaps the RNS could have a couple of extra lines to clarify this? Can never be too clear.