Angus Energy Share Discussion Threads

[jtidsbadly] 13/2/2023 10:11

Negan: Anguish haven't run out of options yet. I continue to think it’s possible they’ll get one more p&d/placing away if they issue an RNS saying the sidetrack has found gas and they are evaluating it. That would get their friends out at a smaller loss and tide Anguish over for a while longer. But if they can’t meet the forward contract volume requirements and the money they’re getting for gas sales is insufficient to pay their running costs, it’s hard to see how they will meet the going concern test, isn’t it?

[jtidsbadly] 13/2/2023 09:50

Negan: my understanding of the Charge in the Lenders’ favour is that the Lenders take the assets, rather than the Company. I don’t know, I’m afraid, what then happens to the abandonment liability but my betting would be that the bulk of it goes to Lincolnshire County Council.

There’s a couple of intelligent posts on the other site, by Sageman and Tygra, the latter pointing out, as we have consistently here, the Q&A answer re the second compressor - that it can only be used, other than at the margin, if the sidetrack is successful. The answer itself seemed to have been written by someone unaccustomed to answering the Investor Questions. There’s a clause in the reply that says they’re not planning for a sidetrack failure. If that means there’s no plan in place for such a contingency, it’s not looking good at all, is it?

[negan] 13/2/2023 09:49

Spincero1, you ramping little 💩. Get back in your yellow buggy you clown..

[negan] 13/2/2023 09:39

Tygras last post has hit the nail on the head,innit..

[negan] 13/2/2023 09:15

Jt, what happens if Anguish runs out of Wonga then and Mercuria take control. Does the ring fenced £2.5 million decommissioning kitty get handed straight to Mercuria?

[jtidsbadly] 13/2/2023 09:08

1347:

SALTFLEETBY FIELD DEVELOPMENT PLAN ADDENDUM
WINGAS (WINGAS) Oct-2016 Report

Still no fresh cartoon. It’s late, innit?

[jtidsbadly] 13/2/2023 09:06

1347: I’m referring to the “Additional221; FDP of October 2016 published on the site you attached yesterday.

Re abandonment, Wingas gave SEL £11m or £12mm for abandonment of the pipeline from Poundland to Theddlethorpe and clean-up costs, didn’t they? This is the sum that appears to have been written off in the latter’s Accounts, as discussed yesterday. Does this mean that the liability doesn’t still exist, or was it regarded as unlikely to crystallise in the foreseeable future, with production about to re-start? If it’s the latter, the ultimate liability is now with Anguish, what? A very sweet deal.

[negan] 13/2/2023 09:01

Don't worry though. Scarletvixen AKA Gideons, AKA letsbuy1, AKA Adrian has said that he is going to buy another 2 million shares @ the next placing price so no need to worry then?

[negan] 13/2/2023 08:53

I would not be surprised if Anguish are trying their hardest to get another fundraise away but it has to be at a much,much lower share price than 1.14 going by the difficulties faced with the side-track and increased delays? Just an opinion.

[1347] 13/2/2023 08:51

Negan Few points: The abandonment costs for Brockham and Lidsey were also supposed to be ring-fenced, but as Brockham was put back in production, albeit at much lower rates than they announced (in an official RNS) and Lidsey was back in the frame (but not really) I bet they are no longer ring-fenced, if they ever were.

As for Poundland, well £2.5 million was the figure Anguish gave for decommissioning the existing wells (yes JT how much is it costing to monitor/maintian those that are not producing?) but we know how accurate their figures are don't we? Their figure was about one fifth of what Wingas made provision for.

In any case they will now have the processing plant to decommission and have also now assumed the costs for the pipeline, that's another £750,000 (which didn't get mentioned in the SPA RNS did it) as well as assuming that £41.892 million derivatives liability (as at 31st March 2022) that was down to Saltfleetby Energy Ltd.

[negan] 13/2/2023 08:48

It's a merry go round, init..

[goforgold1] 13/2/2023 08:45

MARKET SAYING THIS IS A DUSTER

[1347] 13/2/2023 08:38

JT What FDP in October 2016? Or do you mean Oct 2012?

[negan] 13/2/2023 08:36

Beep, beep, honk,honk Pahaha..

[negan] 13/2/2023 08:35

For anyone wondering what Spincero1 looks like, look no further, he's the one driving. Pahapahapaha.

[negan] 13/2/2023 08:32

Spincero1, you ramping little 💩. What are the names of your other 5 accounts you used to tick yourself up?

You are an absolute disgrace ain't ya...

Paha

[negan] 13/2/2023 08:21

Spincero1. Where are those posts about me selling to soon @1.2p gone. Quick, go back and edit them. share price open 1.13 ouch..

You ramping little 💩

[negan] 13/2/2023 08:17

Spincero1 you ramping little 💩. The side-track to date is not going so well is it..

Will you be around to apologise to the VOR and the rest that have been spiked from 2.8p down, down,down. No you won't will you..!

[negan] 13/2/2023 08:15

Spincero1. It looks likely that it's you who has a big mutton chop slapping coming what,what..

[negan] 13/2/2023 08:13

"Oh no, not you again" Spincero1 you ramping little 💩, have you apologised to all those that got spiked @ 2.8p

Thought not you ramping little 💩

[sincero1] 13/2/2023 07:48

dear oh dear...predictably only either disingenuous old grey stale urine smelling non shareholders,the mentally unstable non shareholders and desperate narcissistic non shareholders desperate for tick ups posting over the weekend....what tragic little insignificant lives you lead eh...
market just shrugged on Friday..down 7%...some might see this as a chance to add ...share price was 0.80 in Feb last year....the knockout mutton chop slapping has just been postponed for 2 weeks hasn't it....

[negan] 13/2/2023 01:12

If Anguish fails on the side-track the abandonment costs are ring fenced right? What was it. £2.5mm?

Just wondering in case they run out of Wonga?

[letsbuy1] 12/2/2023 22:16

Switch off come back in 2 weeks