Angus Energy Share Discussion Threads

[jtidsbadly] 27/3/2024 12:15

1347: I think there’s some consternation at Poundland Towers, judging by the workload they’re expecting the Ocebot to carry. Placing reliance on the new boy Ross Pearson is a bit rich. He appears to have been on the Board at IGas once, before it changed to Star Energy. He wasn’t on the Board at Star, whence there were one or two escapes in the final quarter of last year. OofyProsser in Kansas refers to his jumping out of the fire into the frying pan and I think I agree with him. Still, what's a chap to do?

A damp squib, the presentation - sort of (to quote Mr Zielicki), what?

[jtidsbadly] 27/3/2024 08:26

1347: I sat up and watched the whole thing last night. Mr. ‘Erbert gave a reasonably fluent account but in Carlos’s absence (did ‘erbert say on jury service?!) his stand-in, Mr. Zielicki, was, sort of, awful. They’re very short of expertise at senior level there, aren’t they?

What remains is a company that will struggle to stand still, even with the big new loan to end all loans. The presentation hasn’t moved things on at all. There’s going to have to be more and more share issues. Mr. ‘erbert has totally jettisoned his earlier pledge of no more dilution. If it takes the issuance of a multiple of the current shares in issue to get them into profit, that’s what they’ll do. Which they will, given the chance. A share consolidation could be on the cards soon, what? Their talk of £100mm market cap is taking the mickey. Bring back George. I preferred his wolfish leer to the new man’s blank, grey stare. The message is pretty well the same.

[jtidsbadly] 26/3/2024 21:38

1347: I didn’t either, but no, nothing’s changed. £17mm EBITDA when you’ve got another well or sidetrack to drill and a compressor to buy won’t stretch too far. Then you’ve got five years worth of loan repayments to pay in the four years after the current one, with a rapidly depleting gas flow and yet another well required. I doubt that any of them believes this nonsense about the rating. This is a company with a single asset, which is having to take on increasing debt at exorbitant interest and arrangement fees, which is flinging new share issues about like a one-armed paper hanger, and whose single asset is depleting monthly. And re US-style ratings, I’d advise them to avoid going there. The SEC isn’t the FCA and penalties for misleading investors and for failing to notify the authorities on a timely basis of movements of shares among potential concert parties on your share register are best avoided.

I wonder if they’ll put the presentation and Q&A on the website.

[jtidsbadly] 26/3/2024 19:16

There you go, fully deployed. Desperate stuff.

[jtidsbadly] 26/3/2024 17:27

The tension is palpable, innit? I’m looking forward to Ocelot’s very supportive interpretation of whatever comes out of tonight’s show.

[jtidsbadly] 25/3/2024 17:47

1347: yes, I agree about Paddy. You can’t keep a good Earl down, what?

That’s what I meant about the senior Earl. Drinking money. What else would he spend it on, the Countess dresses him?

[jtidsbadly] 25/3/2024 15:49

1347: well, they do have lifestyles to maintain. Though the senior Earl is married to the daughter of a billionaire, so perhaps his is mostly drinking money. I wonder where the junior Earl (the one whose escutcheon bears the motto “OMD, où se trouve le doigt, hein?”) is going to find another agreeable sinecure?

[jtidsbadly] 25/3/2024 10:18

1347: it’s such a shame - Anguish has always been dodgy but there was something pleasantly amateurish and dozy about it under the management of the former OE members of the Irish aristocracy. Even their references to Mars were amusing, as were all their forecasts as to timing of their latest ill-thought-out project and their pursuit of white horses with a single horn. It’s all grey now, and the management schtum. Perhaps Mr. ‘erbert is unwilling to expose himself to the close scrutiny of Martians and others. The little dandy Malcy must be missing the fees, what?

[1347] 22/3/2024 18:26

Possibly, although I think it may be more to do with 'erbert not renewing the contract with Justerini & Brooks and replacing it with the office junior doing a weekly trip to Lidl to re-stock that wine cooler. Paddy probably stayed just long enough to finish off any decent stuff and sign the Annual Report. Za Zdarovje!

[jtidsbadly] 22/3/2024 17:47

Perhaps the rather ragged look of the place where his missing finger was, made Mr. ‘Erbert queasy at close proximity in board meetings.

[jtidsbadly] 22/3/2024 16:48

....still, you can’t blame the opacity in the RNS resignation statement on Cambridge or anyone educated there, can you?

[jtidsbadly] 22/3/2024 16:06

1347: at Oxford and Cambridge, you wait a few years after the award of your BA, pay a small fee and it morphs into an MA. A nice silk-lined hood instead of an ermine (rabbit fur)-lined one. It was English, which means English Literature really, I’m not aware of an English language degree, I suppose if you get into either university it should be safe to assume you can express yourself pretty clearly, accurately and fluently in English. Though some colleges at both universities used to have closed scholarships, open only to pupils at certain public schools. What happens if all applicants in a given year are too thick to qualify for one, I’ve never known. Since I’ve started watching Anguish, I’ve had my suspicions.

[1347] 22/3/2024 14:58

Perhaps he'll be moved to the 'New Business Development' department they set up several years ago under the esteemed leadership of Captain America?

PS: Was it an MA or a BA and was it lang or lit? No matter really, if those RNS announcements were the standard that results then he'd have been better sticking at GCSE and saving a few bob.

[jtidsbadly] 22/3/2024 14:36

Actually, the RNS today says that Paddy has stepped down from his position as Chairman. Is he still on the board? The Pen Holders in this company have never been models of clarity, what? Even the one with the MA in English from Cambridge.

[jtidsbadly] 22/3/2024 07:46

Yes, it’s all change, innit? Mr. ‘Erbert is nicer about him than he was about the other Earl. I doubt they’ll look too hard for a permanent replacement, having a compatible “temporaryR21; replacement so close at hand. Still, Anguish Towers’ loss is the club’s gain. “Phew, I’m out of there in the nick of time, what? Don’t want another stain on the old escutcheon like the last one. Absolutely. Excellent. I mean to say. Make mine a bumper.”

[1347] 22/3/2024 07:21

"Angus Energy announces that it has today received the resignation of Patrick Clanwilliam ("Paddy"), Non-Executive Chairman of the board of the Company. Patrick joined the board in 2019 and stepped in as interim Chair in August 2023."

I always expected him to go not long after his quaffing partner had been turfed out, only kept there long enough to sign off the Annual Report. That just leaves Carlos. Expect further twists and turns to come on Snake Pass shortly.

[jtidsbadly] 19/3/2024 14:05

1347: yes, I think I said in a post last week or the week before that it looked like a race to 5he bottom between UKOG, Vast and Anguish, with the three likely to cross the line to suspension in that order.

I’m finding the money paid to Mr. Forrest for his remaining 49% of Poundland more and more strange. He’s done ridiculously well out of Anguish while small shareholders/mugs/gerbils are losing their shirts/filling their pants. As Mr. Prelea at Vast might put it “You wouldn't read about it, mate”.

[1347] 19/3/2024 12:46

JT Well unless the gas prices spike again they will struggle to generate enough cash to cover the hedges, opex and finex, even without any capex, but hey they all still get a big pay rise, overall renumeration more than doubled. I see GeoThermal now kicked into the long grass and another year before we know the feasibility of the gas storage. Those drills are make or break now and the last one was way over time and cost and only a partial success. Oh on the race to the bottom don't forget UKOG, they have even less going for them than Anguish Energy, although 'erbert has now borrowed the ShareCoin Sanderson business model to settle liabilities.