Angus Energy Share Discussion Threads

[chickndinner] 22/2/2021 16:28

Mark. 2 mins to go and not 3p yet?

[chickndinner] 22/2/2021 16:27

JT. Let's just say they do manage to raise the 12 million. On what terms will this be. Especially if the funding is coming from 2 separate entities. On what terms. How much interest. Over how many years. Do they need to sell of part of Saltfleetby to achieve this. Then what if there is not enough gas to cover the cost of the loans. Where is the shareholder value. If. And it's a very big if Saltfleetby ever gets to 1st gas how many years will it take to generate an income?

Why would anyone invest in Anguish Energy unless they get suckered in from the cheerleaders on the dark side!

[jtidsbadly] 22/2/2021 16:07

chickndinner: I’d put some money on no funding within 4 weeks. Of today’s RNS’s: Balcombe is irrelevant, they can’t afford to do anything there. They haven’t suddenly discovered hidden oil reserves at Lidsey! It’s childish to suggest it. How many times will umpteen oil people have been over the seismic data? Then a big probable reserve suddenly pops up just when the share price needs a bit of a push. No, they’re just grabbing back the abandonment reserve which they said in November 2019 they’d ring fenced. In any case, it’s all about Poundland, where the clock has just been put back to 30 November. Even if they get the whole £12mm., it’s not going to be producing gas this year and they’re planning to hedge a large part of their production. They’re not going to make money from it, it will be a nice little interest earner for the lenders. But they’ve got to get the money first, even to achieve a return to their lenders, and they don't appear to be very near that yet.

If Lidsey, by some weird accident, proves to have a decent, exploitable reserve, it will make the (interim?) MD’s stewardship of the company appear even worse than one had thought, wouldn’t it? The first thing a new MD with a little oil or gas experience would do would be to check the seismic on existing holdings, rather than take a flyer on a pig in a poke.

[chickndinner] 22/2/2021 15:47

What's the chances that there will not be any funding in the next 4 weeks?

[chickndinner] 22/2/2021 15:31

Mark Barker said 2p a couple of weeks ago.

Then this morning he said 3p by end of today.

Still an hour to go Mark.

[chickndinner] 22/2/2021 15:30

There is no commitment that the funding is 100% in the bag. Pathetic!

[chickndinner] 22/2/2021 15:25

After a quick google search I could not find canned jam but you can find canned fruit for making jam with a variety of fruits.

I think i will call this morning's jam RNS flavour lemon. As there are a lot of lemons pumping this into thier doughnuts as if it's a positive 🍋

[chickndinner] 22/2/2021 15:17

So basically this morning's RNS is just another jam can kicker. I wonder if you can by jam in cans?

[jtidsbadly] 22/2/2021 13:28

JA51: it’s just a smokescreen to allow them to raid the ring-fenced reserve, isn’t it? They’re short of the readies again.

[ja51oiler] 22/2/2021 13:25

So I haven't read the Lindsey Statement on the website but it's a tiny licence area. They relinquished most back to the OGA. Seems odd they haven't mentioned this before doesn't it???Makes you wonder if Forest nominees have asked for the same as Rupert asked for to get out??????

[jtidsbadly] 22/2/2021 12:24

You wait three weeks for an RNS and then three come together!

The Lidsey update presumably means that, as suggested here some weeks ago, they will be using the ring-fenced Lidsey abandonment reserve as working capital? Perhaps there will be a Brockham update soon offering them similar latitude?

They’re excited about the geothermal prospects on the other site! If they’d read the Q&A last month, they’d see that Anguish are not expecting spending on this before they get to first gas of more than £500,000. In common with Balcombe etc., it’s just obfuscatory bs.

They also keep referring to the share price when the Earl of Lucan took over as 4p. It wasn’t, the announcement of his (interim) appointment was on Tuesday, 29th January 2019. So it happened the previous day. The price at the close on Friday 25th was 8.91p. He’s been an unrelieved disaster.

[jtidsbadly] 22/2/2021 09:46

JA51: I didn’t know they hadn’t filed a Field Development Plan with the OGA. This can-kick to mid-April means that the parts for the plant won’t all be in place before the end of September, even assuming no Brexit/virus-related delays. The design work is not finished yet and the latest document from the LCC (was it?) suggested that certain pieces of the plant will have to be re-located. There’s not going to be any gas before the end of the year, even if they get the full amount in April, is there?

Should one assume from the RNS that the Knowe convertible will need to be repaid early? If so, that’s £1.4mm. off the net proceeds and will replace a loan at 4% interest with something rather higher. This RNS is just what investors should have expected, another obfuscatory delay. Mr. Micawber again. I’m looking forward to the Q&A replies!

[jtidsbadly] 22/2/2021 09:35

Yes, HITS, it’s just another can-kick. The new “mandate letter” is approximately the same as was announced at the end of November re Aleph! They’ve hired someone else to do the same thing as they hired Aleph to do, but for a smaller loan. The new boys turned out to be as useful as the old boys - but they got their expenses paid.

[headinthesand] 22/2/2021 09:17

As I just posted next door, the finance update RNS is a waste of ink and paper. It'll give the self-serving cheerleaders and the blinkered fanatics something to wave their pompoms about frantically - but that's all.

As I've said elsewhere, both Hamlet and Jerry Maguire instantly came to mind, having read this substance-free piece of puff and nonsense.

[ja51oiler] 22/2/2021 09:14

C A N K I C K !!!

I guess it explains tools down on the Pipeline!!

So Aleph has failed to get the deal done, And despite signing that exclusivity agreement with Aleph a third party is now in the frame?

That's an awful lot of get out of jail free words in the first 2 Paragraphs!

Bottom line nothing is concrete and it's all "ifs buts and maybe's"!

[jtidsbadly] 22/2/2021 08:49

Here’s a funny RNS update on the loan! What’s the betting?

[jtidsbadly] 22/2/2021 08:40

JA51: I’ve been assuming that, with the report and accounts and the AGM imminent, there would have to be some information soon on Anguish’s financial status. However, I believe there is a 3-month extension to the AIM 6-month deadline for publication of annual accounts and AGM. Do you know whether Anguish has commented on this? Can we now expect the accounts and the AGM at the end of June? If so, the new boys could be picking up fees for a while longer. Presumably Anguish will need a GM in the not too distant future, for shareholder permission to issue a lot more shares. Their monthly expenses must be eye-watering.

It will be four weeks tomorrow since the most recent twitter update on the pipeline and the lovely Lincolnshire weather.

[ja51oiler] 22/2/2021 08:27

Sue

I guess it's how you view it.

At first glance it is. However, the Kimmeridge story is all but dead, it's going to cost millions the company doesn't have to basically see if there is anything there. If there it's then several more years applying for a screening report and a production license etc. If you read the documentation it's highly unlikely that would be approved in the current low carbon environment being in the area of outstanding natural beauty.

Much like the Pipeline to Knowhere they really didn't have much choice but to pursue it. Is it throwing good money after bad is the question, The BOD really don't care as you can see by the laughable amounts they have personally invested into Angus.

[sue999] 22/2/2021 08:18

Anyone says anything you don't like becomes usual suspect. hemmmm

[jtidsbadly] 22/2/2021 08:12

JA51: yes, they’re taking the mickey really, aren't they? I suppose they will have felt it necessary to comment on Balcombe and to send the usual suspects to this bb to talk it up, but it doesn’t make any difference at all.

[sue999] 22/2/2021 08:11

good news is good news

[ja51oiler] 22/2/2021 08:03

It seems a very strange thing to RNS considering all the other far more relevant market-sensitive information that's not being disclosed. It's far from a done deal, is it! The officer seems to have changed his mind due to it now only being 12 months. That's another placing then to finance it if the panel decides to approve. Another black hole to throw money into! (I personally think that's highly unlikely with 800 objections, it's historical demonstrations and the eye-watering policing costs, but I guess we will see.)

Why haven't they updated on the now week 21 pipeline and the seeming cessation of works? or how that loan is going? far more relevant than this unworthy of an RNS bit of news.

[lithological heterogeneities] 22/2/2021 07:54

Very good RNS if it gets approved, which looks likely.Balcombe is the BIG prize.

[sue999] 22/2/2021 07:52

Things are looking up again.

[jtidsbadly] 22/2/2021 07:49

KingGibbon: it’s completely irrelevant, they haven’t got any money to do anything at Balcombe and won’t, even if the new boys come up with a loan for Poundland.

I was hoping for something more along the lines of:

“Anguish Lethargy and its partners, Aleph Energy, are pleased to announce that we have found fairies at the bottom of our garden”