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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Angus Energy Plc | ANGS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.425 | 07:46:26 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.425 | 0.425 | 0.425 | 0.425 | 0.425 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 04/1/2024 16:25 by headinthesand Check out very recent events at Canadian Overseas Petroleum, 1347 (EPIC: COPL). It's yet another (much-ramped in preceding months/years) fossil fuel 3 shell game sucker stock that's now a bit further down the line than ANGS is currently in terms of PI holdings being destroyed as its already dubiously valued assets are acquired for tuppence ha'penny by its lenders.As for ANGS, the £57 million valuation mentioned in the most recent CPR was based on gas pricing that's 15-20% higher than current levels, so can hardly be said to have been calculated conservatively. What remains a matter of some mystery is... exactly what has ANGS spent all the money on? I mean, over the last 15 months, it seems to have produced enough gas to generate around £22.2 million (after hedge settlement). It's also had a placing for £7m (Dec 22), plus two emergency junior loans at Wonga rates (£3m in Mar 23 - paid off in confetti at end Sep 23 - and £6m in Jul 23 - due for full repayment this month). That's over £35 million, pretty much all of which seems to have disappeared somewhere in just a year and a quarter. And it's not like that pile of cash was used to pay off existing liabilities. As it stands right now, on top of the now £7m needed to pay off the 2nd junior loan, they still owe c. £6m on the original "£12m they said they never needed" senior loan and c. £5m to Paul Forrest. |
Posted at 04/1/2024 10:08 by headinthesand It seems an increasingly worrying fair bet that things are likely to go a bit COPL for ANGS... |
Posted at 20/12/2023 08:55 by jtidsbadly Yes, is the answer to that. Anguish has got into bed with an outfit with strong Russian connections and a very patchy history with regard to sanctions compliance and pollution.The information in this RNS is nowhere near complete. In particular, arrangement fees, the terms of the forward physical gas contracts, the terms under which the Mercuria contracts are being concluded. Presumably the Mercuria royalty will apply from the signing of the new loan. And, while the interest rate is a fair bit lower, the quantum is higher and will be used to pay off loans and the money still owing to Mr. Forrest, leaving Angus with £3.3mm of new money. Not enough to drill a new well. The deferral of the first year’s interest will help next year but means higher payments in the next four years, while gas flows start to fall. The 8% royalty needs to be factored in too. Overall, Anguish appears to have got out of shark infested waters but is now surrounded by a pod of killer whales. Anguish may limp on a bit longer. Shareholders aren’t going to see any returns though, are they? No dividend. The chances of an adverse corporate action here are undiminished, in my view. |
Posted at 18/10/2023 13:26 by sincero1 13reallyneedsahobbycnurse wakes him , changes, washes and feeds him...wheels him over to the staring window for a bit...nap time....meds...anoth |
Posted at 18/10/2023 12:21 by jtidsbadly JA51: ....furthermore, if they're planning to drill a new well at the end of Q3 2024, they’d better stop planning and start ordering the kit and engaging the drillers, what? If the recent past is any guide.They seem to have been spending about £4.5mm p.a. on opex this year. It’s not surprising that they excluded from the AEWB3 Accounts that very useful cash flow and expenses table. It seems to me they’re running hard to stand still. And if they don’t repay their £6mm plus usurious interest of c. £600,000 to Aleph by mid-January (either by negotiating a cheaper facility or through another really massive dilution - which would probably require a bid), they will be over a barrel again. I don’t know what the FCA would say about a big new loan with yet more cheap warrants, giving the lenders a huge platform for a bid for the minorities. The small shareholders would be effectively disenfranchised. No dividend, no chance of a meaningful vote. Not what you invest in shares for, really. |
Posted at 13/10/2023 16:48 by onetomany Don't talk pish. There's no limit on production. Balcombe will be excellent additional revenue when it comes on stream. The huge cash inflow from October onwards will accelerate the development. Really exciting few months ahead for ANGS and the rerating will commence in earnest this month. Within next week, maybe ten days, we will have RNS on Balcombe, pipeline completion and new funding. Soon after is a strategic update presentation to shareholders. Soon after that we will have the terms and timelines on storage. |
Posted at 13/10/2023 09:51 by headinthesand Reality check. The connection of the permanent flowline (which presumably will happen eventually) will not increase production capability in any way.As to today's chairman's letter, ANGS is of course going to get the authority it seeks to issue up to 5.078 billion new shares. It is definitely going to issue 516 million of these to Kemexon as soon as it is granted the authority, and all signs point to it also issuing a further 1.8 billion to Aleph in January. |
Posted at 23/8/2023 17:26 by headinthesand I don't (and indeed can't) disagree with you, 1347. History clearly shows what ANGS has done for (or rather, to) PIs - except for those few who have been short-term trading the stock and timing their entrances and exits smartly enough.The share still has the capacity to surprise - though it seems never in a positive way. Back in the late spring and following the news of what turned out to be a successful and production-doubling sidetrack (no matter how late and over budget that turned out to be), I certainly never expected the share price to decline inexorably downward ever since to today's 0.68p levels. Mind you, ANGS hadn't been exactly candid about the levels of debt and cashflow drain, had it? |
Posted at 25/7/2023 17:42 by headinthesand 1347, I took the latest RNS as stating that ANGS and Mercuria agreed to fix the quarterly floating prices on 50% of the last 12 months of hedges, rather than ANGS and Mercuria agreeing four single quarterly exit prices for ANGS to pay off that 50%.The former results in a now fixed liability of £6.25 million, the latter in a now fixed liability of £9.2 million. I agree that as usual (and no doubt deliberately) it's not been made clear. |
Posted at 20/7/2023 14:59 by headinthesand £6m just won't be enough to cover off the rest of the calendar year's already incurred liabilities that need paying back, plus cover ongoing monthly field opex and G&A with the post-derivative settlement revenues ANGS is currently generating out of SFBY. Not without a major increase in the spot gas price - right now, ANGS will be lucky to generate much more than £1.6m of free revenue from gas sales in July.What RH needs to do is get that replacement $25m/£20m longer-term facility signed. Yes, it's still painfully expensive at 15%, but a) it's cheaper than existing debt and far more importantly b) it would give ANGS the time it needs on production to be able to pay it back. |
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