Angus Energy Share Discussion Threads

[ja51oiler] 26/2/2021 09:27

HITS:

Yes, I have footage of him telling a couple of whoppers regarding the £12 million in interviews, well after they knew about the funding requirements......It's a good job he was not sitting opposite Malcy as he may have taken his eye out as his nose was growing so quickly!!

Any thoughts on the legality of publishing the CPR when they obviously knew it was £12 million out?

[headinthesand] 26/2/2021 09:15

Excellent question just asked by gkb next door (so it'll probably get taken down in next to no time). I'll paste it here in its entirety for posterity.

"The elephant in the room here is that if LL was talking to banks about a £12m loan as far back as March 2020 then why was the narrative being played to the market when the CPR was released on 5th March 2020 that the CAPEX requirements to Angus were only £1.5 m (mean or likely case) including the SF5 drill:

"The report envisages capital expenditure to Angus of £1.5 million (mean estimate) to bring the gas on stream in 2020 and to drill a horizontal side-track to well No. 5 during H1 2021, the latter to accelerate recovery. The Board does not anticipate any other capital expenditure to capture and monetise these identified reserves. The Board may however consider further expenditure from 2022 onward to monetise the contingent resources."

Why was a 12m loan being discussed for an asset that was supposed to cost £1.5 m to Angus? Market was not informed of the revised costs and the need for such a large loan until 23rd September 2020."

Why indeed? The problem with continually being "economical with the truth" is that one always has to remember in detail what previous economies with the truth one has spouted and to make sure that the latest set one is about to spout stacks up against those earlier ones.

As gkb has very concisely pointed out, George is clearly not accomplished enough to have managed that. The statements made in his latest powder-puff paid-for Malcy love-in very obviously and directly contradict information that was issued by RNS almost a year ago. As an astute brief might now ask "So George, please tell the court whether you were fibbing a year ago or if you're fibbing now. It has to be one of the two."

[jtidsbadly] 26/2/2021 09:12

JA51: I think the other site has lost the plot with Angus. Some trade data absent as well.

Do you know if UKOG use FlagStaff?

[ja51oiler] 26/2/2021 08:43

I see the thought police are out on the other BB this morning!

A couple of posts taken down in record time as they asked some difficult questions.

Who Expects a Lucan interview to pop up over there today?

[chickndinner] 25/2/2021 22:52

Are Angus Energy to smart for you?!

[chickndinner] 25/2/2021 22:51

Where are the shareprofits team?

[chickndinner] 25/2/2021 22:44

And your reference to Rick from the young one's I think it's more fitting to associate ourselves with Niel and his shoe that is letting in water!

[chickndinner] 25/2/2021 22:42

JT. I really cant understand it. How many cans do they have now to kick!

Now they have another elusive geothermal giant can to kick.

Honestly. How can they keep getting away with it?

Obviously there are still a few mug punters still buying the BS but not enough to warrant a massive rise in the share price

It's all just wrong!

[jtidsbadly] 25/2/2021 22:34

chickndinner: no, I don’t have a lot of confidence in him. Presumably that lack of confidence in him is why he’s still the interim MD? Mind you, the AIM oil and gas companies generally don’t seem to be over-populated with honest talent at CEO level, so where would they find someone they could afford with greater credibility?

If they can get lenders to believe that their assets represent valid security rather than being liabilities with abandonment reserves against them, they might get a loan. Surely even the new boys’ “lending partners” are a bit more savvy than that, though! It seems really laughable to me, like something Rick Mayall might have dreamed up in “The New Statesman”. Or Tim, nice but dim.

[chickndinner] 25/2/2021 22:31

This is so wrong!

Clever see you next Tuesdays!

[chickndinner] 25/2/2021 22:19

JT. You could see the disappointment in Lackey's face when he said he almost secured the 20mm loan facility last June not. He could hardly keep a straight face and neither could Malcy possibly AKA Ocelot?

Then he was saying Lidsey is a dump. I dont think the local residents would be to pleased to hear that at the next council meeting. Would you?

Then he said it would only be another 2 trucks to an already busy Road.

Seriously. You can't make this stuff up.

Is he deliberately trying to get all the assets delisted for alterior motives?

He doesn't come across as a competent MD interim or not!

[jtidsbadly] 25/2/2021 22:03

chickndinner: I don’t see how the (permanent?) MD will be able to survive a failure to close the loan deal. He’s been confident of a deal since September and fed a lot of bs about it to his shareholders. He seems even more confident now but it's very nearly 12 months that he’s been trying. If I were a potential lender, I’d be looking for security on any loan and the Earl has just started introducing the term “security̶1; into his briefings. What has Angus got that might qualify? A few oil assets. Ooh, let’s run the seismic again. Ooh, this is exciting. Look what they all missed before! Assuming 500 barrels a day, that gives a capital value that nicely secures the loan! Simple, innit? And we can add back the ring fenced abandonment reserve on Lidsey and Brockham. The auditors might sign off the accounts, if we can get away with this.

Meanwhile the other site is allowing the company’s PR people to feed all this stuff to poor unsuspecting investors and banning the people who might point out the inconsistencies.

[chickndinner] 25/2/2021 20:28

We've almost had it all now from Angish Lethargy.

Brockam. We only need to turn the taps on.

Saltfleetby. We only need to connect a pipe to the national grid.

I'm waiting for we only need to turn the lights off!

Close the door behind you.

[chickndinner] 25/2/2021 20:17

Are Flagshaft not supposed to be impartial?

[chickndinner] 25/2/2021 20:13

Does anyone know if Malcy is an Anguish Lethargy shareholder? He said we at least twice when he was interviewing Lord Lackey.

Is that even legal?

[chickndinner] 25/2/2021 20:05

JT. Good point with Ocelot. Maybe Ocelot is in fact Malcy? The plot thickens. Dun dun dun?

[jtidsbadly] 25/2/2021 19:23

JA51: haven't Knowe just been diluted down by successive placings in which they didn’t partake? You can’t be done for that. In any case, I believe that, apart from his slightly cavalier attitude to filing accounts on time at Companies House, Mr. Manclark is above reproach. He’s an accomplished lugeist and the originator of Elephant Polo.

You’re right, though, he may have introduced the Angus (permanent?) MD and it’s (non-Board) Business Development Director to Challenger. It seemed for a while that this might be in the interests of giving another string to Angus’s bow in the form of Ferris Wheels but as the sorry story unfolds, it seems more likely that it was to give the Earl and Jonathan some useful exposure to the world of cash shells.

[jtidsbadly] 25/2/2021 18:12

JA51: I understand it’s just been reported.

Gkb47 (if you’re reading this): the Directors of Angus dare not deal in the shares. Since March last year they’ve been in possession of undisclosed highly price-sensitive information as to the need for £12mm. to finance Poundland, which project the interim MD assured “Malcy” in successive interviews from April was on time and within budget. He could be prosecuted if he’d bought or sold shares in these circumstances. I doubt he’d be able to deal in the shares even now that this information is in the public domain at last. There’s more going on, isn’t there?

[ja51oiler] 25/2/2021 17:43

Yes, it's a bit strange that Admin doesn't take it down as it's posted by Angus's Pr company isnt it?.... Surely that breaks their rules??... After all, GL pays them to be interviewed also doesn't he??

[jtidsbadly] 25/2/2021 17:29

And has anyone noticed the 11 posts in the past 3 days on the other site by FlagStaffIR? Does Ocelot work there?