admiralty12
22 Nov 2017
Re: RNS Oneway - Thanks for that. Interesting read. Although not invested in Angus I keep an eye on it with regards UKOG."The Bakken formation is a hybrid reservoir like the Kimmeridge in that it has fractured limestones which enable natural production. It is therefore a close analogue to the Kimmeridge in both the generation of oil and how it can be produced."Of interest might be that the Bakken Shale play is, to a large part, fracking and was considered mainly uncommercial until this development . So you might hope it is not too analogous.Regards
onewayticket
21 Nov 2017
Mending Things Courtesy of Itsallaboutme on the LSE[link] hole pumps can lose between 20 to 100% efficiency due to free gas problems".Video demonstrates one down-hole gas separator tech and shows gas lock up in a pump without it.Own due diligence
onewayticket
20 Nov 2017
RNS 20 November 2017Angus Energy Plc("Angus Energy" or the "Company"
Lidsey Oil Field Update Angus Energy Plc, a conventional oil and gas production and development company, is pleased to provide an update to the Company RNS of 17 November 2017. Operational Update - Lidsey Oil Field· The Lidsey-X2 well experienced significant gas locks at pump causing the original equipment to cease operation. · A 150 bopd pump with a 120-meter tailpipe extension was installed (prior to the 17 November RNS). This pump did not gas lock or cease functioning however every six hours the rate declined significantly with bubbly oil recovered to surface even though production is above bubble point. · The flow rate of 40 bopd, per the company RNS of 17 November was recorded from Lidsey-X2 on Thursday 16 November whilst attempting to identify the down hole issues. The company notes this current rate is twice the historical output from the Lidsey field. · The Lidsey-X1 well, shut in since January 2016, to be brought back in to production.· Angus Energy has put in place a comprehensive diagnostic program with the help of external experts to make all necessary repairs and adjustments to further conventional oil production at Lidsey and increase yield from Lidsey-X2. Geochemical Analysis Update - Lidsey-X2Angus Energy is pleased to provide an update to the Company RNS of 6 November 2017. The Company has now received final results from a third-party study of tests performed on the Kimmeridge Layer and Oxford source rocks of Lidsey-X2. These results were received after Angus Energy fulfilled its statutory requirements to release the above mentioned RNS of 17 November 2017. Per the Company RNS of 6 November 2017, detailed geochemical analysis of all potential hydrocarbon bearing formations encountered in the Lidsey-X2 well has been performed. The Group carried out similar work on its Brockham assets and compared the results from Lidsey-X2 with Brockham and data from Horse Hill-1 - the first well in the UK to successfully test oil from the Kimmeridge - as summerised below. The Company has received confirmation, the Lidsey-X2 has TOC (total organic content) values similar to the Brockham and the Horse Hill-1 well and is comparable to the Bakken Shale formation (US).The historical temperature reached by the rock is estimated with the RockEval pyrolysis analyses method. Angus Energy has received third party confirmation, the values seen at Lidsey are similar to those seen in Horse Hill and the Bakken Shale formation. In the Bakken Shale the onset of oil generation is at a Tmax of around 420-425deg F and this is met in both Brockham and Lidsey. The Bakken formation is a hybrid reservoir like the Kimmeridge in that it has fractured limestones which enable natural production. It is therefore a close analogue to the Kimmeridge in both the generation of oil and how it can be produced.The results received on Friday were unexpected as basin modelling of the Weald Basin in recent years has suggested that peripheral areas such as the location of Lidsey would not be expected to reach these temperatures. These temperatures appear sufficient to generate oil thus far. The amount of oil generated cannot be measured directly but is indicated by the metrics S1 and S2 reflecting the total oil content and H1 the hydrogen index. The newly confirmed third party review of the Lidsey data and the earlier reviewed Brockham data indicate the hydrogen index Tmax plot for the Kimmeridge at Lidsey and Brockham to be within the same envelope as Horse Hill-1 and the analogue of the Bakken Shale formation. Similarly, S1 oil content and oil saturation index derived from it, for both the Lidsey and Brockham wells also fall in the same envelope as Horse Hill 1 and the Bakken. The Company believes this data demonstrates that significant producible oil has been generated.The Kimmeridge was encountered a
theprior
20 Nov 2017
Re: Slow to update Now showing today’s trades .....errr. 1x 50k /
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oohthatscheep
20 Nov 2017
Slow to update Why isn't the share price not being updated here?Their 'partner' is keeping up to date at 17/18p!
onewayticket
20 Nov 2017
Re: Back in Now that was a timely buy inA nice update of an RNS from the company.It would appear they are going after diagnostics and fix on Lidsey and there is good cause for optimism on the other contents of the RNS.Given todays release I'm targeting a 50% to 60% return on my money.Own due diligence.
Bistable
20 Nov 2017
Re: Lidsey production So todays RNS makes no mention of a hole in the pipe or a broken and repaired pumpThe problem as reported is the pump cannot handle the gas in the oil.This just confirms the shoddy reporting we are experiencing and as I mentioned in my last post you just cannot trust these people-go ask the SCC.Why they preface todays RNS with we are pleased to report is beyond me as there are now if ever there was grave question marks with this well and the engineering capability of ANGS to expluit it for commercial oilI notice the pump was only rated for 150 bopd so bang goes the expected 250bopd and higher many if not most were predicting
onewayticket
20 Nov 2017
Back in At just shy of less than half the price of my last sell.Target price again of 35p.Happy to patiently wait.Own due diligence
Bistable
19 Nov 2017
Re: Lidsey production At the point of going into production they find a hole in the tubing--come on-who believes that with all the downhole instrumentation they have and testing they have done only now do they find a hole--just don't believe it just like the pump excuse--who goes into production with no spare for a single critical component which if fails costs hundreds of thousand of pounds of lost revenue--they are either truly incompetent of think we are stupid to believe them-go ask SCC what they think and trust of ANGS
Dragonslayer1
19 Nov 2017
Re: Lidsey production thepriorI read Fridays RNS , noticed the ( MM'S ) forcing down the share price from the off triggering stop losses , creating panic selling , etc ....... and thought I 'll have some of that . Hence bought in realising Angus Energy are working through production start-up and " production has now been initiated " . Which to me means forty barrels of 38.5 API of dry oil per day is the starting point from the first of three reservoirs with potential viability in Lidsey-X2 . Much , much more to come in other words .Admittedly flow rates from the first , the Great Oolite reservoir are below expectations but work is continuing to clean up the well , The ( RNS ) states : Company is currently examining evidence that suggests a partial flow reduction is the result of a hole in the production tubing .Which would explain lower flow rates than anticipated . Hence happy to hold now whilst allowing the BOD to do their job which includes informing the market when the flow rate problem has been resolved .
theprior
17 Nov 2017
Re: Lidsey production Already back up to 17.5 from low of 15, but will it dip again?Lots of negativity about.That might offer a chance of a bargain.TP
eltelex
17 Nov 2017
Re: Lidsey production A blow for this type of play. I was really hopeful for onshore oil from the Great Oolite.40bopd is a real disappointment. Why will the share recover its losses today on this outcome - sorry, this is going lower.
oohthatscheep
17 Nov 2017
Re: Lidsey production See what happens to the share price when the expectations don't flow together with the actual results. Shades of 88eSomeones got a lot of clarification to do - quickly.Thank my lucky stars I only had a small amount lodged here.Good luck everyone.
Bistable
17 Nov 2017
Re: Lidsey production Didn't I say there was a problem and the pump was likely to be a smoke screenHow can the company issue such a RNS starting with pleased to announceHow can the company suggest 40bopd is commercialI have said before I am not impressed with Vonk as he does not appear to be completely open-look at the continuing saga with SCC and Brockham and the issue of the recent FOI correspondance between the two with ANGS now having to apply for retro planning-the lack of trust with SCC at the last planning meeting was clear
theprior
17 Nov 2017
Lidsey production Both X1 and X2 in production though not without problem. Hopefully will soon be resolved and true production figures available.TP
