Angus Energy Share Discussion Threads

[1347] 20/5/2025 10:40

JT No I can't see how this would work at all. Anguish don't have the funds for anything nor any experience in operating offshore anywhere, let alone the Gulf of Mexico. I'm also not sure why any company operating there would want to do an RTO of a tinpot AIM company, unless it' to get at those tax losses, but can they offset earnings on US assets against UK tax losses incurred against UK assets? One for the bean counters that.

The other possibility is that it's just a stalking horse to give them an excuse to suspend their listing to buy time to come to some kind of deal with Trafigura (maybe Kemexon or Aleph also involved). Like most things to do with this company I'm sure there's a hidden motive but I think we'll have to continue along Snake Pass a while further before we find out what it is, although I doubt it will be to the benefit of non-related party shareholders.

[jtidsbadly] 20/5/2025 08:54

1347: there’s £30mm of tax losses in AEWB3. But Poundland appears to be a dead duck and if they cease operating there, they’ll incur the costs of de-commissioning and restoration. Add to that the repayment of their loans etc and it doesn’t appear to be an attractive takeover candidate.

I had a very brief look at the 2 outstanding charges last evening. What looks like the Mercuria charge from 2021 is secured on AEWB2. The later, presumably Trafigura, charge is secured on Saltfleetby Energy (what a great deal the previous management gave Mr. Forrest, what?).

I can’t see any attraction at all to the owner of profitable assets in the Gulf of Mexico in Anguish’s prospectus.

[bionicdog] 19/5/2025 18:56

He will pop in to laugh at us in a couple of weeks.

[1347] 19/5/2025 18:48

Where's Fat Frank? Is he happy all his money's gone?

[1347] 19/5/2025 15:31

Has ice been in touch with his sources again? Or should that be sauces?

[bionicdog] 19/5/2025 14:56

ice says they have , so that's good enough for me.

[onetomany] 19/5/2025 14:50

Yes plenty

[jtidsbadly] 19/5/2025 14:26

Aleph’s investors must be thrilled. Is it back to Scout Lane, Clapham, for them?

[jtidsbadly] 19/5/2025 14:23

Have they got any money to pay Trafigura on 25th!

[3put] 19/5/2025 13:35

Ends the same way as Copl , no cash and no idea

[iceagefarmer] 19/5/2025 13:21

yes when new hedge comes into play

19 May 2025



Angus Energy PLC

("Angus Energy", the "Company" or together with its subsidiaries, the "Group") (AIM:ANGS)



Potential Acquisition by Reverse Takeover and Suspension of Trading on AIM





Following recent market speculation, Angus Energy (AIM: ANGS) announces it has entered into a non-binding agreement to purchase a group of producing assets located in the Gulf of America ("Potential Transaction").



Given the nature of the Potential Transaction, this would constitute a reverse takeover under Rule 14 of the AIM Rules for Companies and accordingly, the Company's shares have been suspended from trading.



Rationale for the Proposed Transaction



Completion of this transformational transaction would represent a major strategic development for Angus Energy, with a significant increase in reserves, production and positive cash flow. The transaction diversifies Angus away from the challenging UK energy sector into assets in a highly supportive oil and gas jurisdiction, with stable and reliable production and low decline.



As part of the acquisition and reverse takeover process, approval of the Company's shareholders in a General Meeting will be required under the AIM Rules. As such, a further announcement with full details of the transaction will be issued at the appropriate time once binding contracts are entered into and an admission document published and sent to shareholders with a notice of general meeting. The Company is working towards finalising the asset purchase agreement and further details and timing will be communicated in due course.



At this stage, the Potential Transaction is non-binding and subject to completing due diligence, funding and other material considerations and there is no certainty that it will be completed, and the timing thereof cannot be determined.



In accordance with Rule 14 of the AIM Rules for Companies, the Company's shares have been suspended from trading on AIM with effect from today. The Company's ordinary shares will remain suspended until such time as either an admission document is published, or an announcement is released confirming that the transaction is not proceeding.



Shareholders should be aware that there is a risk that admission of the Company's securities could be cancelled if they have been suspended from trading for six months.



Finance Update



Further to the announcement of 7 May 2025, Angus Energy confirms that while resculpting discussions are ongoing, Trafigura has granted the Company an extension of the first principal repayment until 26 May 2025.



END



For further information please visit www.angusenergy.co.uk



Angus Energy Plc



Richard Herbert

Chief Executive Director Via Flagstaff

[darmz] 19/5/2025 13:19

Have they got any money to buy the asset nope

[3put] 19/5/2025 13:17

Game over. I can't see it coming back. Shorts and longs bust

[onetomany] 19/5/2025 13:00

I see John aka 1066 spouting nonsense as usual. Positive news in general today. Upside will hopefully outweigh the dilution. Good to see that reply from RH to someone's email.

[bionicdog] 19/5/2025 12:58

iceagefarmer 19 May '25 - 12:30 - 37646 of 37656
rumour of hostile takeover...not sound energy this time

iceagefarmer 19 May '25 - 12:30 - 37647 of 37656
maybe BP or Shell

[1347] 19/5/2025 12:57

Another one bites the dust, they can't meet the principal repayment on the "now you can borrow enough to get completely out of debt" loan so they've had to suspend rather than go belly up. These 'assets' in the Gulf of Mexico (screw Trump & his renaming things) are just a smokescreen. Like UKOG I doubt Anguish Energy will re-list, I always said they would be taken private at some point, just doing it by the back door.

[jtidsbadly] 19/5/2025 12:55

A nice 6 days extension on the payment to Trafigura. I very much doubt that this deal will be completed. Someone did a good deal for the sale of 6.75mm Anguish shares just before the first RNS, what?

[onetomany] 19/5/2025 12:52

Ah you woke up

[bionicdog] 19/5/2025 12:49

One of your reliable sources?

[onetomany] 19/5/2025 12:47

Interesting update. Reverse takeover.

[bionicdog] 19/5/2025 12:41

Nobody wants anything to flare up.

[iceagefarmer] 19/5/2025 12:39

RE: Suspension?Today 12:36
I received this from Herbert a few days ago re. The previous RNS

Yes, not the announcement we would have preferred, but we remain positive about the long-term potential of the field and our financial position will improve after June when our 2021 hedges which are well below market finally roll off.

We are being careful what we say about Balcombe, given the history of antagonism with the neighbours. We don’t want things to flare up again. Once we have agreed our plans at the site, we will make an announcement.

[iceagefarmer] 19/5/2025 12:31

my lord wasnt in charge for nothing...payback time