Angus Energy Share Discussion Threads

[jtidsbadly] 22/1/2021 10:46

JohnCasey: I think that comes under the heading of “alternative predictions”. Even if they’d completed the pipeline by now, it’s not joined up to anything at either end and, at the Saltfleetby end, won't be for at least six months. Then they’ll have to get permission from the regulatory bodies, who will want to look at their abandonment arrangements, among other things. I doubt if National Grid will want them connecting to the gas main before regulatory consents have been given. Anguish’s ability to complete the Saltfleetby plant depends on their ability to raise a very large loan very soon. Presumably the banks will need a decent “working capital buffer” before a loan agreement can be signed.

It’s surprising to me that the managements of some of these AIM companies, with minimal equity holdings in their own companies, can go on failing - missing deadlines, over-spending, missing forecasts by miles, diluting shareholders, overseeing 90% falls in their shares prices, etc. - for years, protected by the Boards they themselves have appointed and apparently totally unabashed! Normal human beings would be mortified, humiliated. These people just carry on as usual. It’s not stiff upper lip, it’s brass neck.

[ja51oiler] 22/1/2021 10:36

Odious. Aggressive?

I don't think so! If you are interpreting putting right all the nonsense you and others spout to try and trick mug punters into investing, it would explain a lot!

Your lack of any response to posters who supply factual posts and point out your mistakes says it all to any new investor.

You have failed on every occasion to point out that I have been wrong on anything I post by the way!!... As I haven't!!


Tell me, What's your name on Twitter then? And also your latest "Incarnation" on LSE? That shouldn't be too hard to answer, should it???

[kinggibbon] 22/1/2021 10:31

"We love you Angus we do, we love you Angus we do, oh Angus we love youuuuuuu"

[jtidsbadly] 22/1/2021 10:23

Odious: you've fallen into your own trap, which you and your chums have been using on the other site, of playing the man, not the ball. Here, we see this coming and call it out, it’s rude and unproductive. It’s not about “likes”, it’s about proper research, accuracy, debunking of myth/“alternative facts” and the sharing of honestly held opinions. Happily, this site allows us to do so, there’s none of the totalitarian-style reporting and censorship of dissenting views here.

The (permanent?) MD may find a rabbit to pull out of the old Ascot headgear (What? I mean to say. A rabbit, isn’t it?). But that’s what it’s going to take. Are you expecting a placing imminently?

[johncasey] 22/1/2021 10:12

LUCAN said supplying first gas first quarter 2021...looks on schedule to me

[jtidsbadly] 22/1/2021 10:09

The accounts of Angus Weald Basin 3
Are under renewed detailed scrutiny
By Aleph, the new boys on the block,
(With one eye on the metaphorical Chiswick office clock).
No meetings though, it’s all on Zoom
- no need to look in on the old data room -
With one in the States, one in Ghana and Rome
and one in London, working from home.

“We’ve got one more week for a loan to be done
Oh dear, it looks like it may over-run.
Nothing new in that, it’s the virus don’t you know?
Though annoying, humiliating, a bit of a blow.
Will we ever manage to meet our deadlines? -
You can only fool shareholders so many times.
How’s the next placing going, will anyone buy it?
Or will Anguish’s spending have to go on a diet?”

The invoices mount up, they’re in the in-tray
There’s one from our partner, that’s one we must pay.
The next placing’s proceeds can’t come fast enough
We still need to order mountains of stuff
For the pig in a poke which the new (permanent?) MD bought
(He thought the vendor seemed a decent sort)
Still, our new partner’s excellent contacts won’t fail us,
They’ll find us a loan, enough money to bail us.

To be continued...

[an ode to aaag] 22/1/2021 10:00

You are getting very aggressive in your posting Ja51. I note you must be one of the least liked, yet frequent posters on twitter. Perhaps if you are a bit nicer to people you'll get some more likes, which must be what you are after if you are on twitter in the first place. I can help if you'd like?

[clottedq] 22/1/2021 09:40

George Lucan "promises" (again) - more like - and we already know the man is incapable of keeping them don't we?

Missed deadlines... miscalculated costs... no more funding needed, followed by a placing and now needs a loan in excess of Anguish's own Market Cap! The FACTS speak for themselves...

The only "gas" this company is ever likely to produce IMHO is from the mouths of cheerleaders to draw in unwary investors on the back of targets that the serially inept management of this company are "always" unable to keep.

CQ ;-)

[ja51oiler] 22/1/2021 09:39

Well done John. You have mastered cut and paste. Its a lot better than posing of "Rumours" though I guess.

Couple of things to point out. If you read the very first line of GL statement word 6 makes the rest irrelevant.

Yes ........." potentially"...... The magical caveat to make the rest of the RNS worthless. "Expect" would have been better, "Will or are" would have been great!

You also forgot this paragraph!

"Under the terms of the MOU, Aleph has been granted a 90 day exclusivity period (extendable if agreed between the parties) beginning on the date of the MOU in which to undertake customary legal and financial due diligence investigation in relation to Saltfleetby, the reasonable costs of which will be met by Angus. Aleph will also need to agree the funding of the Saltfleetby Finance Facility with its funding partners. Furthermore, it should be noted that the MOU is non-binding and shall not constitute and is not intended to establish any legally binding contractual obligation or other form of relationship between the Parties."

The "potentially" part presumably being

"Aleph will also need to agree the funding of the Saltfleetby Finance Facility with its funding partners."

With regard to your first post

The RNS was also on the 30th of November

"and are happy to note that our hydrogen ready pipe is now safely laid and we are progressing with the final 150 m steel stretch of the pipeline."

Almost 2 months ago! It would appear they forgot that they had a 300 odd metre 10-inch pipe to lay!! Which they still haven't started according to the Twitter feed!

I'm sure those funding partners will be asking why it's so far behind schedule, and how much extra its cost!

[johncasey] 22/1/2021 07:49

George Lucan, Angus CEO, comments: “We believe that these terms potentially represent a great result for shareholders in a difficult time for fundraising for any hydrocarbon project. Saltfleetby is a considerable opportunity with, according to the CPR of 4 March 2020, the potential to deliver between £75 million (P90) and £250 million (P10) of gross revenues to all parties over its remaining life.

It is also exciting for us to have a potential partner who marries technical and commercial skills as well as proven access to considerable pools of private capital. We believe Aleph is the right partner to smaller scale energy and ESG projects that provide much needed local employment and displace more polluting energy fuel sources.

We see in geothermal, in particular, a natural extension of our drilling and subsurface geological expertise, our teams’ experience of working safely in high pressure and high temperature environments subject to rigorous environmental standards and of dealing with local planning issues with extreme sensitivity.

In view of the impending Christmas break and inevitable Covid-19 related delay, we expect to conclude documentation and drawdown by the end of January but at any rate in the early first quarter 2021 following which we will be able to accelerate the procurement process as we head toward First Gas in H1. In the meantime, we continue with detailed design whilst isolating key long-lead items for express procurement and are happy to note that our hydrogen ready pipe is now safely laid and we are progressing with the final 150 m steel stretch of the pipeline.”

Jason Joannou (Founding Partner at Aleph Commodities) comments “Angus is a strategic platform for the future of energy production: via natural gas and geothermal energy, and with plans for hydrogen and carbon capture solutions. The partners at Aleph believe Angus, under the innovative management team led by George Lucan, is the blueprint for the ideal modern energy company and a beacon for the Energy Transition. We look forward to working with Angus and assisting them with their plans for the future.”

[johncasey] 22/1/2021 07:27

almost completed...happy days soon


Angus Energy Plc
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Angus Energy Plc

·
20 Jan
Valving assemblies being completed and blots torqued up - remaining 10” steel section to begin shortly #ANGS

[chickndinner] 22/1/2021 00:38

JA51. Excellent last post but I think we need to stop mentioning alcohol brands as Mark is doing a dry January. You mentioned Stella in your last post!

[ja51oiler] 22/1/2021 00:02

Your Hillarious Odious:

"The important thing is that progress is being made"

Well, the problem there is they don't have any income from any of the other Stella assets to finance that progress. If they were producing and making £250/300k a month it would still only be enough to break even. NONE OF THEM IS PRODUCING ANYTHING except debts.

Each of those other assets also needs £100 of K's spending on them just to get them to break even at best. As I pointed out earlier Balcombe has a price tag of £1.7 million for a 12 month well test and only 75 barrels a day to Angus. Brockham would struggle to pay the cement bond logging cost on historical records, and Lindsey's exciting new prospect is in no man's land that's relinquished back to the OGA,

The pipeline is quite obviously going to be £100,s of K,s over the highest CPR costings as its now taken 3 times longer than it says in the RNS'd timetable, and its nowhere near finished. (The PP submitted suggested 30 men on-site to give an idea of costs involved)

So making progress just isn't good enough. The suggested Q&A aiming for commissioning towards fist gas is also so optimistic as to be ridiculous.

[jtidsbadly] 21/1/2021 23:58

chickndinner: dear oh dear!

I don’t want to appear pedantic, but the question mark belongs, if at all, after the second 2p, rather than after “question̶1;. Happiness is a cigar called.....

[chickndinner] 21/1/2021 23:35

JT. Its getting late now so I will continue with my following questions with an ode tomorrow.

As we are on the subject of William Shakespeare I will leave a parting post for Mark Barker's earlier post saying 2p.

'2p or not 2p? That is the question'

JT. Thanks for that. 1 to many sherbets lol

[an ode to aaag] 21/1/2021 22:57

Ok, but I'm not Tenants super charged so just one for this evening.

Yes, he did early on. I think the original target was May to Sept, then year end. I think laterally a few caveats came in though. But its a big project so some slippage was always likely and clearly Covid hasn't helped stuff this year. Look if you are going to chastise the board for missed targets, then there will be plenty others on the market. The important thing is that progress is being made, which I think even YorkshireLife will begrudgingly admit. Anyhow I'll leave it at that as I'm sure Rastuss will need at least half an hour with his Thesaurus and Encyclopaedia of Shakespeare prose, before he can even get in the mindset of writing a response. Plus I'm sure your finger is itching for the 7th ring pull.

[chickndinner] 21/1/2021 22:46

An ode. Let's start one at a time.

Question 1) did GL say that Saltfleetby would be a producing gas asset by now?

A simple yes or no will suffice.

[an ode to aaag] 21/1/2021 22:43

What are your questions chickdinner.

Surprised you couldn't have bought shares for a profit, although I don't understand much of the mentality on this board

[chickndinner] 21/1/2021 22:41

An Ode. In hindsight would I have bought shares @ 0.375. My answer is no because I have lost an absolute fortune averaging down from 14p down to 5p and woke up and smelled the coffee!

Another question answered.

Your turn.

[an ode to aaag] 21/1/2021 22:39

Sorry I thought I did - number of shareholders in profit from 0.375p. I said I clearly can't tell. Are you on that 6th can - tut tut, you really should wait for Mark.

[chickndinner] 21/1/2021 22:32

An ode. Are you going to answer my questions posted earlier or not?

I've answered yours.

[an ode to aaag] 21/1/2021 22:31

I agree, more director purchases would be good. But having GP Jersey come onboard as a TR-1 holder is good. With hindsight would you have invested at 0.375 p?

[chickndinner] 21/1/2021 22:27

Ode. When you said when the share price was 0.375 someone must have made a profit. Is that plural?