Angus Energy Share Discussion Threads

[1347] 05/4/2024 15:05

JT It's Aleph Fin C that is shown on the Anguish Energy website and it's they that issued the last TR-1 last July showing that they held the shares but dropped below 3% as the shares went elsewhere (allegedly). However they are still showing 3.71 % on the Anguish Energy website as of last November. No TR-1 has been seen from them since. It exemplifies that you just can't trust the accuracy of information put out, not changed has it. No wonder the share price is at an all time low. I expect the entry under Fixed Assets on the Aleph balance sheet is just them being sloppy with terminiolgy/classification.

[jtidsbadly] 05/4/2024 14:35

1347: I haven’t looked at the balance sheets of all of them. There may be one or more of them that hold the listed shares while the others hold shares in the entities that hold the listed shares. I’ve never been involved in such shenanigans, may be barking up the wrong tree. I’ll try to go through the balance sheets of all of them that I can, though it’s possible that the entities that own the listed shares are overseas.

I seem to remember a shareholding structure in some Caribbean jurisdiction years ago that allowed two companies to own 100% of each other. I thought we were better but after four years of watching a clutch of AIM-listed companies, nothing would surprise me.

[1347] 05/4/2024 11:55

JT That's my point, they are listed shares and so are a liquid asset not a fixed asset, which then beggars the question, what those assets they list really are then?

Yes Aleph have form for not disclosing holdings or disclsing them late. They say a fish rots from the head and the UK fish certainly is doing so. These AIM Tiddlers are just swimming in a toxic ocean.

I expect the main point of the hokey cokey 'assets' is, as it always has been, to engineer a rise that insiders and related parties can then sell into, whilst avoiding P&A costs.

[jtidsbadly] 05/4/2024 11:35

1347: I’m no accountant, but aren’t quoted (readily realisable) shares “liquid assets”. Unlisted shares are not really liquid assets.

Yes, Balcombe! Mr. ‘erbert was not talking Brockham up all that much, in spite of doing a workover on it. I wonder what that will cost. But Balcombe...

I agree with you about TR-1’s. Disgraceful. As is the continuing absence of accounts from Knowe Properties.

[1347] 05/4/2024 11:08

JT It wasn't just the small deficit it was the asset categorisation in Aleph Fin C when they are supposed to be the entity holding shares, which are a liquid asset. Also the fact that no TR-1s have again been issued, despite Aleph getting another shed load of fee shares recently. Who actually holds these shares and why no TR-1?

I'm assuming Captain America has rode off into the sunset, still never knew where those missing shares, or the proceeds from them, went do we?

I haven't watched the interview, just more of the same. No, with the current volumes and prices they won't be generating any free cash after paying interest, hedges, royalty, operating expenses, if any at all.

I see the usual 'experts' are now talking up Balcombe, but rather conveniently don't mention that it's a tight formstion and Cuadrilla origially bought it with the intention to frac it, but then decided they didn't need to. I expect they were right the first time and, although it might flow for a short while due to the pressure build up, I doubt it will be commercial. I rather suspect Anguish Energy pretty much know that, which is why they let the planning permission 'accidently' lapse after the short term test they did back in the day.

[jtidsbadly] 05/4/2024 10:40

I’ve just watched the Flagstaff interview with Mr. ‘Erbert. He’s apparently completely unmoved by the charming Katy, in contrast to his predecessor. But I digress. A workover in May at Brockham. Applications for permission for four new wells at Poundland. A third compressor being arranged currently.

The net proceeds of the recent transformational loan to make them debt-free will very quickly be used up. No mention of this or of the steady decline in production or of the much lower forward contract price in the current quarter. Nor of the 8% of turnover royalty.

What’s happened to Captain America? Where is Mike Wells? Has the former sold his shares and if not, why not? There’s going to have to be a further cash raise, probably in the current quarter.

[jtidsbadly] 05/4/2024 09:34

1347: re the small financial deficit in the Fin C Accounts, they’ve got guarantees from their parent company, which is enough for the Director to sign off the Accounts and deem it a going concern.

Re musical chairs - for instance, Richard Usher signed off the Fin C Accounts and has since (25 March) resigned. I looked at the Board members of Aleph Commodities, which appears to be their principal operating entity, and found a number of pop-ups I’d never seen, including Aleph MENA and one that started with the initials AC. Directors of these companies keep coming and going, and going and coming, and always too soon, it seems.

Re Company Secretaries, I see that Carlos is late with filing the Accounts with Companies House.

[shareprofessor] 04/4/2024 15:50

Bionicdog, I just perused your posting history. Another incompetent share dealer , pointless troll or boondogler.

[1347] 04/4/2024 14:48

From a pair to a trio...

[shareprofessor] 04/4/2024 14:08

An encouraging RNS. The oddities like 1347 of course are not happy. One brief peruse of that cretins posting history, all negative on every share forum, shows he is either an incompetent share dealer or just a pointless troll. Have some self respect you silly old man.

[1347] 04/4/2024 10:26

You spelt that right?

[bionicdog] 04/4/2024 07:34

What a pair of winners.

[hopeful25] 04/4/2024 07:06

A positive RNS today! Looking forward to better days!!

[iceagefarmer] 04/4/2024 06:05

from todays rns

At the Brockham Oil Field, site work has commenced in preparation for rig arrival early in Q2 to reinstate production from the Brockham 2Y well.

[1347] 02/4/2024 07:49

JT Any in particular? Yes could be, as you know I've always been suspicious of Aleph and their various pop-ups and why a Delaware entity would get involved with a small UK company with a dodgy history. Seems they are playing musical chairs with Directors as well as musical shares now then.

PS: I'd be interested in your views on Aleph Fin C Financial Statements. These show that it had £3,055,783 of fixed investments and £3,058,444 of Debtors. So it is technically insolvent. As this is the company that holds the shares in Anguish Energy (allegedly) then if that represents those share holdings then how come they class it as a Fixed Asset and get to the value they do? Tradeable shares are not Fixed Assets and who are the Debtors?

I also note that despite Aleph getting a shed load of fee shares in March 2024 that, as usual, no TR-1s, have been issued, nor has the Anguish Energy web page of share holdings been updated. That new secretarial company sure are working well aren't they?

[bionicdog] 31/3/2024 08:28

Have you "been told"?

[iceagefarmer] 31/3/2024 05:20

i see derampers out in forcebuying up at this level

[jtidsbadly] 30/3/2024 20:47

1347: it’s musical chairs again on the Boards of some of those Aleph pop-ups. I think they may be fronts for Russkies..

[1347] 28/3/2024 17:26

JT Yes I left the .... so anyone could complete the rest. Thing is that once they have no need to issue more confetti for discounted placings, warrants, fees, deferred consideration etc. then they don't really need to be on AIM at all do they.

[jtidsbadly] 27/3/2024 22:24

1347: or, more specifically: “the share placing has been necessitated by the adverse effects on earnings resulting from unforeseen delays in deliveries of spare parts for equipment derived from the USA due to the closure of the port of Baltimore over the Spring and Summer”.

[1347] 27/3/2024 19:49

JT Well it's not thought that it will have a long term impact as ships can be re-routed. However I can see the RNS now:

Unfortunately due to circumstances entirely beyond our control regarding global shipping lines and supply logistics issues Anguish Energy have had to defer commissioning of the third compressor until such time as.....