Angus shareholders may finally have something to smile about.
After more than a year in suspension, relisting is now imminent. With restructuring agreed and record profits banked from the Iran conflict I suspect it will open far higher than where it closed. 🚀 #ANGS
What’s equally interesting is the hedge position.
Spot gas has fallen back to around 97p/therm, yet the June hedge is around 127p/therm. That’s exactly what a hedge is supposed to do—protect revenues when gas prices weaken.
The forward hedge profile also averages around 101p/therm through to June 2027, suggesting a return towards £1/therm gas was already factored into planning and refinancing discussions.
Following the 12 June dip to 46,094 therms, production has now recovered with five consecutive days between 64k and 66k therms/day.
13 Jun: 65,173
14 Jun: 65,986
15 Jun: 64,773
16 Jun: 64,282
17 Jun: 64,693
June is still averaging approximately 63,100 therms/day despite the dips on 8 and 12 June.
Saltfleetby May production (1–27 May):
~50.9m kWh
≈1.74m therms
≈64.3k therms/day average
Despite several interruption-style lower days, May production has still broadly matched the original hedge assumptions overall. Recent recovery back above 70k therms/day also remains encouraging.
Estimated May gross field revenue currently ~£2.4m–£2.65m incl condensate.
#ANGS
Saltfleetby latest reported production:
24/05/2026 → 1,994,444 kWh (~68.1k therms/day)
May average now ~67.2k therms/day (~2.08m therms/month annualised). At current hedge/spot pricing this implies gross field revenue potentially running around ~£2.7m–£2.9m/month.
#ANGS#UKGas #NaturalGas