Angus Energy Share Discussion Threads

[jtidsbadly] 25/2/2021 12:20

JA51: it wouldn't surprise me if the auditors have advised them that the accounts are going to have to be heavily qualified and that they need to show that they’re a going concern. That would explain the stopping of work at Poundland and the promotion of Lidsey and Brockham to potential income sources. £650,000 of abandonment reserves written back as cash will help. It’s a bit alarming that the £1.65mm. raised in the recent placing hasn't helped much. In view of the fact that the placees are now under water with their new shares, it’s going to be harder to raise much money through further placings in the near term.

If they do put back the publication of the accounts until June, this will support the above supposition. I’d regard it as grounds for serious concern. Meanwhile JamesII on the other site blames the AAAG for the current share price. Luckily, he bought his 18mm. shares at a lower price and is still in profit!!

[ja51oiler] 25/2/2021 07:25

Regarding the millions of barrels at Lidsey.

Some of us have been around long enough to remember that there is a limit of 8 tanker movements a week at Lidsey.
Given the quantity of the water cut that has traditionally been disposed of at Brockham does anyone really think anyone would want to invest a few million for a farm in given the fact they are limited on production in this way?

Also when and if has it started producing again? The OGA website is three months delayed but shows zero production. Surely they should have updated the market with an RNS?

I think the fat Aussie had resigned from DOR at the point Lidsey deal was done. The second Brockam deal looks not to have happened as I haven't seen an RNS and DOR are still showing on the licence that runs out on the 27TH of next month.

Not that being on the BOD means anything to the lot involved here. Just look at the shares JTP was given in DOR around the time he was forgiven the first director loan!!


Speaking of RNS'S shouldn't they have issued one when they suspended works on the pipeline as looks to be the case. I guess the latter would spark panic and they chose not to publish as they are legally bound to do!!

[jtidsbadly] 25/2/2021 01:11

I think we’re being churlish if we don’t spare a thought for a tubby Australian philanthropist, who was clearly persuaded to sell his stakes in Lidsey and Brockham far too cheaply, in view of the massive oil finds about to be tapped there. He’ll be crying into his Fosters.

[jtidsbadly] 24/2/2021 17:09

..the Pele of elephant polo. He was funny too, more so than your standard accomplished whacker of balls from on top of some long-suffering quadruped.

[wolfofthewoods] 24/2/2021 16:54

What a coincidence that Michael Goodwill happened to be invested. The pele of polo no doubt.

[chickndinner] 24/2/2021 16:41

We will just have to release it in an RNS and do another placing.

[jtidsbadly] 24/2/2021 16:29

chickndinner: on a technical note, what happens to the supply of rocking horse manure if the rocking horse gets constipated?

[jtidsbadly] 24/2/2021 16:17

chickndinner: perfect! Or would be if they could rely on the non-Board Business Development Director to order the spuds for planting.

I should think that long-suffering shareholders are feeling royally rogered. Or aristocratically rogered, to be pedantic. Like Michael after that threesome. Unpleasant.

[chickndinner] 24/2/2021 16:04

JT. We can sell them some rocking horse manure for thier Jersey Royals.

[jtidsbadly] 24/2/2021 14:48

.. and does anyone sense an irony in their using income from the sale of oil, if any, from Lidsey and Brockham to finance their green agenda?

[jtidsbadly] 24/2/2021 14:40

JA51: with all these presentations and the consultants’ fees, as well as their increased staff, I should think monthly costs may have gone up. Yes, no news on the pipeline. I wonder if the Business Development Director has remembered to order the seed potatoes?

There’s also Aleph’s reasonable expenses, legal etc. fees, design work (part of the Saltfleetby site needs re-designing, doesn’t it, after the recent County Council conditional approval ?) and I dare say the new big bank trying to arrange the bulk of the loan is not working for nothing. Then, yes, there’s de-commissioning reserving and approvals by HSE, EA and OGA, as well as the County Council. And if lenders insist on hedging 70% of their production at conservative prices, how are they going to turn a profit? And that’s assuming they don’t have exceptional delays on plant delivery/site construction or problems with the wells. If they don’t produce the 2020 Accounts next month, this share price is going to tumble, isn’t it?

[ja51oiler] 24/2/2021 13:55

Ahh ....the Wonderful world of Angus!!It's just getting comical now.They have quite obviously suspended the pipeline works as they conveniently forget to put it on the wishful thinking chart on the presentation.Cash burn of £250k minimum a month and gas realistically a year off.Who in their right mind will lend this shower £20 million quid with the appalling track record of deception, vastly missed timelines and massive overspending?It's just a company with a big tax right off now isn't it, the rest is just pipe-dreams and de-commissioning costs.

[jtidsbadly] 24/2/2021 13:50

Where’s Frazer Lang when the share price needs him?

[wolfofthewoods] 24/2/2021 13:29

One would like to look at expenditure. Why? Well millions have been spent and there is nothing to show.

>f you were a business owner that knew what you had was worthless, wouldnt you be seen to be spending money with your mates business? There seems to be a lot of links with these operators so theyve all got rich, but we are no better off than 4 years ago in terms of production.

Sorry, something isnt right. You cant continually mess up. I have a good idea at what is going on, but for now let us say I think the bod are misselling this investment

[jtidsbadly] 24/2/2021 13:20

ClottedQ: it’s funny. I can’t make out whether he’s being serious or waiting for the laughter.

Sticklepath is just outside the N.E. edge of Dartmoor. There’s a nice old fashioned pub there. Mirasol on the other site says a well in Cornwall near the Eden project cost £23mm. The Eden project is on China clay, Dartmoor is on granite (though I’m no expert, this may not mean anything). There’s a very nice hotel a little south of there. I hope these Earls and the business development director won’t lower the tone by taking up shareholder-funded residence there. They’re not content with despoiling AONB’s, now they want to start on National Parks! Where’s the money coming from? How much have they spent on this so far? How much over budget is the Saltfleetby pipeline? They’ll need the “Aleph loan“ soon or there will have to be another placing, “for general working capital purposes”. Does anyone believe they’ll get first gas by the end of September? Dear oh dear.

[clottedq] 24/2/2021 13:05

So to summarize after today's RNS:

Completely OUT with costs for Poundland & completely OUT on timescale for Poundland!

I thought that was why companies employed experienced management to prevent unforgivable "INCOMPETENCE" like this?

Evidently NOT at Anguish. There, the same old Etonian stalwarts are happy to keep rolling the dice & having a jolly good go at it again & again & again, with other folk's money!

You really couldn't make this up!

CQ ;-)

[jtidsbadly] 24/2/2021 12:25

Re the new presentation referred to in the 12.00 RNS, it’s all the colours of the rainbow! Brockham, as expected! Look out Dartmoor, here comes Anguish!

They haven’t got the money yet, they haven’t got any sites for their heat exchange pipedreams and their timetables - well, enough said. Comical, really - though I dare say the usual suspects will be trying to puff it!

[jtidsbadly] 24/2/2021 08:44

JA51: that will be interesting.

Re cash shells, I’ve been watching AAOG too. Not much going on there, apparently. The chat board, like the well, ran dry months ago. I follow Challenger partly because I believe its deadline is at the end of this month, partly because it’s where Knowe Properties put in the interim MD of Anguish and Jonathan Tidswell-Pretorius to cut their teeth on cash shells last year.

Re the accounts, the timing of that placing in late September was probably to dress up the end-year accounts. We’ll know more in a week or so..

[ja51oiler] 24/2/2021 07:48

JT... Regarding the Anual accounts

Just signed up for this latest investor thing they are peddling.

It gives you the Company financial calendar. This says results are expected between the 1st and 7th of March. You would expect they would have asked for the info to publish it. As you say CH says they have until late June and the Website hasn't been updated for this year. It would certainly not be a good sign if they don't publish it, but you can certainly imagine them taking a leaf out of Their Saltfleetby/Forum Energy partners book and delaying uncomfortable reading.

Challenger is interesting, but if you want the real action take a look at AAOG, far further down the line, shares suspended and will leave AIM in May without some sort of deal. Funnily enough Forum, Angus's Salt controlling partner has control with the help of Riverfort!! Big Tax-loss in Hydrocarbons much as Angus.Its Amazing all these coinkydinks that keep popping up isn't it?

[wolfofthewoods] 23/2/2021 23:54

Of course not. Anyone that says yes is stupid or a liar, neither of which should be listened to.

[chickndinner] 23/2/2021 23:31

Mark. A little spanner in the works for you. Can you honestly put your hand on your heart and reccomend your family and friends to buy shares in Angus Energy at this moment in time.

Yes or no?

[chickndinner] 23/2/2021 23:21

Mark. Ducks in a row?

What ducks are these?

Every time Anguish Lethargy release an RNS duck!