Member Info for Yanis2005

Ha ha, you are welcome.

I think we will in the end do well. Water is isolated, we still have more than 140m of perforations (more than HH), the chance of success is still the same as it was last year ... and testing works are starting on the 17th of June.

Next week we should see activity at Brockham as the equipment will begin to arrive. With luck double digit SP within weeks.

Lol Scullywag, what does that mean?

Scullywag, they are very clearly stating that the drawing is to scale.

If the drawing is not to scale then they are misleading us, I don’t think they will do that since they will be liable. Maybe they estimated where the problem was from previous logs and then they confirmed it.

The position of the plug also agrees with what Alan said earlier - he believes the water was at the very bottom of the well.

Scullywag the presentation is updated 15th May, maybe they forgot to update the date, presentation did change,

http://www.angusenergy.co.uk/media/presentations/

Scullywag,

http://www.angusenergy.co.uk/wp-content/uploads/2019/05/AE-Investor-Presentation-April-2019.pdf

Page 9., the drawing is to scale.

The plug was set at the bottom of the well and scaling from the drawing we lost the bottom ~50m of the well perforations. Original perforations were 195 meters, so we still have in excess of 140m left, a lot more than HH I think.

People are assuming that the gas field is a diversion from Brockham just in case is a failure. I don’t think it is a diversion, I think is just an opportunistic acquisition. The recent placing, if we believe GL, did not include a raise for the gas field.

The SP drop is concerning and suspicious. The delay in Brockham testing, the vague RNSs, the “management of expectations” IMO is designed to bring the SP down, for whatever reason I don’t know. The lack of an MAR disclosure in view of the fact that the fundamentals remain strong points to this direction.

Brockham chance of success remains as strong as ever.

We know that Angus perforated and tested the well in December. At that time they encountered the water issue but have also seen oil and Angus was optimistic that Brockham can achieve commercial success.

4th February RNS
https://www.investegate.co.uk/angus-energy-plc/rns/brockham-well-test-update/201902040700059128O/

GL statement:
"I am very pleased with the oil analysis clearly confirming Kimmeridge oil at Brockham. The water zone is obviously an unexpected hindrance but, with natural flow to surface and evidence of oil, we remain quietly optimistic of achieving commercial success at Brockham. Brockham in combination with Balcombe could be transformational for the Company and oil production in the Weald."

What’s changed since that statement?

Nothing has changed in terms of COS. In fact, the situation at Brockham has improved since the water has now been successfully isolated.

They have seen oil at surface in December but are unable to confirm this now because the test equipment is not yet installed.

JTP Feb tweet https://twitter.com/jonathantidswe1/status/1092354814728695808?s=21

The COS at Brockham is the same as it ever has been. The change in tone with the management of expectations and the delay I don’t think is related to them identifying an issue at Brockham, if they did they would have had to announce it. In any case how can they know without installing the equipment and starting the test?

We are in with the same chance of success as was expected last year under Vonk.

If they are going to be true to their word this time and start on the 17th of June then we should see the equipment arriving at Brockham this coming week. GLA

3.55p ... back to pre-RNS level. Volume picking up ... to the upside thios time :)

BigTen4,

As I understand, they need the equipment in place before they can bring fluids (which may include oil) to the surface.

If they are going to start the preparatory works (which I think includes well clean up) on the 17th then the equipment must be hooked up and ready before that.

This is my understanding but I may be wrong - hence the question to Alan.

Alan,

If they are going to start the well cleanup / fracture comms optimisation on the 17th we should see equipment arriving to site before that so the equipment is readied for the works to start. Correct?

How long do you allow for equipment delivery and setting up?

Alan,

Excellent post, has clarified some concerns. Where were you yesterday? :)

I wish Angus would put out a clearer RNS. We are not all oilers and the SP fall and continuous decline since the placing is worrying

Thanks Alan.

Placing at 0.2p.

Placing is never welcomed, but it could have been worse (i.e. .lower price) considering level of current SP.

Now let's hope for a flurry of good news.

Yes, shorts are making money aided by the vague comms from the Angus BOD.

Asking them to clarify again

https://twitter.com/yanis_2005/status/1135532952098693122?s=21

Angus has now changed the published plan.

Most of us topped up and averaged down based on the (then) improved comms and The Plan. - Have we been mislead?

The Plan had 2 stages in it - Stage 1 and Stage 2.

Now they have (effectively) introduced Stage 3 - these preparatory works to establish communication with the fractures.

They need to spell out what these works are and how long they are expected to take. .

Necessary to improve sentiment and stabilise the SP decline.

Ask Angus to clarify.

I did via tweet. They may respond if a few shareholders asked them.

Nothing to loose, just a tweet.

Mine:

Can you clarify what the preparatory works to establish communication with the fracture system are and how long are expected to last? Please.

It will go a long way to supporting #angs shareholder value (SP) which is in free fall atm, due to these questions.

Just asked for clarification.

https://twitter.com/yanis_2005/status/1135519603197644800?s=21

PBoo,

I am not going to argue with you, I respect the work that you do.. Yes, I could have sold at 6p, I didn't ... in fact I added at 6.345p. I was not expecting GL to change to this "managing expectations" guy and issuing blurred comms, after his initial performance with very clear very unambiguous communication.

You think I am moaning ... I think that I am sending a message to Angus.

I am doing something in trying to protect my investment. Will I succeed? I don't know but I will keep trying.

Wolf, not just dreadful, is disgraceful.

Where is Alan? Maybe he can shine a light on to this.

PBoo,

Do you really think that if you pretend that all is well the SP will reverse? Explain todays fall if you can.

Alarm bells sounded on the 30th April/1st May when the SP failed to recover above 4.25p.

Now we are sitting at 3p.

On the 17th of June, where do you think the SP will go if testing doesn't start?

We need to let these guys know how we feel, after all we are part owners of the company.

There is no excuse for the SP to be sitting at 3p. And this is Angus shooting themselves on the feet (and us through the heart), not me shooting myself on the foot.

Heid,

If all is good, why is the SP falling? Why down 12% today after that RNS? Have you got an explanation?