Angus Energy Share Discussion Threads

[ja51oiler] 02/3/2021 14:36

Pot and Kettle John!

[ja51oiler] 02/3/2021 14:33

nash

Probably because it's £4million down the drain. Up until this morning, it still had a theoretical value. After the decision, its become another costly De-commissioning liability.

Add to that the loss of confidence that the "alleged" £12 million investors would surely have its understandable don't you think?

[nash81] 02/3/2021 14:22

not sure why the panic sellers. largest shareholder bought in for gas project and if they are happy holding, i am happy to buy in at just above 0.8p

this balcombe is just a side show

[jtidsbadly] 02/3/2021 14:13

JA51: a rush to the exit appears to be in progress. They haven’t got any money and these Weald “assets” and the recent updates on them are no longer even a smokescreen. Who’s going to buy shares in a placing?

[ja51oiler] 02/3/2021 14:01

My respect for Ocelot has just fallen considerably.
Unless he/she has been for their covid jab it's impossible to believe missing the meeting would have happened.

Talk of appeals on other sites. but on what grounds? A unanimous decision based on the previous recommendation from the same planner who they picked to pieces in his revised recommendation

.........Can't resist an I told you so sarney for lunch!

[jtidsbadly] 02/3/2021 13:43

Here’s what they said on 24 February re Balcombe (below). “Problems with leftover drilling fluid..” - unaccustomed prescience on His Lordship’s part.

“ Balcombe 1 drilled in 1986. Well tested in 2018. Problems with leftover drilling fluid but definitive Oil Show.
• Angus has applied for a 1 year Extended Well Test.
• Planning recommendation received in February for the application (5 planning
applications have been approved since 1986).
• Remote Planning Committee on March 2
• No EA permit changes required.
• Great care applied to reduce adverse local impact and improve local economic benefit.
• Two stage programme to minimise risk to shareholders.”

[ja51oiler] 02/3/2021 13:38

Thinking aloud here, but why was there no one from Aecom on/at the meeting.
It seems strange that the only connection to Angus who show any professionalism and who prepared the report that changed the Planning officer's mind was absent!....... Perhaps their invoice hasn't been paid. I can't think of another reason they wouldn't speak.

[jtidsbadly] 02/3/2021 13:28

JA51: that’s what I mean! I agree with you. Will someone slip in a £5 buy order at 90p. at 4.30, or will they accept that the horse has bolted?

Tax loss shell, anyone?

[ja51oiler] 02/3/2021 13:19

Yes and interesting to see if they are liable for 100% of the costs. I recall they were liable for 100% up to 1st oil....Time to look at the £4 million Balcombe funding RNS.

This really won't have filled those "mysterious" £12 million loan "investors" with any confidence, will it??

[jtidsbadly] 02/3/2021 13:18

His lordship’s best course will be to leave early, retire to the club and share a bottle of the Dow with someone completely unconnected with this disaster while he can afford it. I think I can discern the writing on the wall here. The moving finger has writ.

[jtidsbadly] 02/3/2021 13:10

Yes, there go those Lidsey and Brockham ring fenced reserves (I expect). The poor planning officer will be licking his wounds for weeks, after this. Does it seem to you that they’re much worse-off than they were before as a result of this revised application? That was an excellent question, about the drilling fluids! Anguish will be looking at more expensive legal and consultancy work to get them out of this fix! Dear oh dear..

[ja51oiler] 02/3/2021 13:04

That's going to cost them a pretty penny to remove the fluids, isn't it??
Can't see anyone willing to take part in a placing to cover that?

[ja51oiler] 02/3/2021 12:59

That's another £4 million down the drain then!!............ Unanimous!!
pretty pointless if not impossible to appeal against.

[jtidsbadly] 02/3/2021 12:46

..now they're just looking for a form of words by which they can justify refusing permission! They’ll leave that to the Chairman and the planning Officer to agree on, by the sound of it!

It looks as if the interim MD has been awarded nul points.

[jtidsbadly] 02/3/2021 12:36

But they're all referring to him as “Mr. Lucan”. In fact, the chairman addressed him as Mr. Lucas! “Irritating , what? I mean to say.. a chap could get quite a ribbing from the fellows at the club, what, what? Better keep it under the old hat, what? Absolutely..”

[ja51oiler] 02/3/2021 12:30

Maybe he is in "Awe" of his lordship?.....lol

[jtidsbadly] 02/3/2021 12:21

JA51: they’re discussing meeting timeframes now! The planning officer has discussed it with Angus and had their assurance that it will all be done within twelve months! Why hasn’t anyone pointed out that Poundland has so far taken 20 weeks to part-complete something that they forecast would take three weeks?

I wonder if the interim MD has closed his connection to the meeting..

The poor planning officer must be sweating a bit. He won’t be keen to change his recommendations in future, will he?

[ja51oiler] 02/3/2021 12:15

The only question now is if it will be a unanimous NO

[ja51oiler] 02/3/2021 12:08

Probably as they don't need to by the way it's going!!

[jtidsbadly] 02/3/2021 12:06

One of these chaps ten minutes ago was pretty good. It’s not finding a lot of support, is it? The interim MD was not very persuasive, was he? He sounds really tired.

[ja51oiler] 02/3/2021 12:03

Not looking good, is it!!

[jtidsbadly] 02/3/2021 12:03

Why has no one mentioned Anguish's perilous financial status and the risk that they may not be able to complete the development or provide for site abandonment and restoration? I think they might have raised the interim MD’s failure to mention that they needed £12mm. to develop another site. And that their current commentary on alternative energy sites doesn’t include any mention of how they'd pay for them and that there appears to be a risk that they’re planning to raid specifically ring-fenced reserves of money in order to finance current spending.

[jtidsbadly] 02/3/2021 10:49

A bit of a hiccough there... it’s like a local council meeting in Midsomer Murders, isn’t it?