Angus Energy Share Discussion Threads

[g2theary] 15/4/2024 16:46

Nice surprise :)

[iceagefarmer] 15/4/2024 15:34

hold for balcombe black gold coming soon

[iceagefarmer] 15/4/2024 15:34

BOOM! derampers obviously loaded up so quiet now

[iceagefarmer] 12/4/2024 16:02

5,000,000 buy..nice

[1347] 09/4/2024 20:04

JT It was in the RNS when he was appointed. I can't remember the posts from back then but I'm sure I did muse whether SDX were going to be another stalking horse like Sound Energy. As for the DoB, come on it's only one year difference, that's quite accurate for these clowns.

I'm not sure there's anything to be gained by looking into any more of these hopeless AIM Tiddlers, I've seen enough to know that some are little more then scams at worst, or badly run and high risk at best. I expect several to go under this year.

Actually on UKOG, I did wonder whether Anguish Energy might take them over when they go into administration, after all they did drill that well at Horse Hill and they now have experience with gas operations, which is useful for Loxley, albeit at a hefty cost (to shareholders, not the hapless Directors obviously).

[jtidsbadly] 09/4/2024 19:20

1347: did we? I’d forgotten. His Angus Energy Companies House entry doesn’t mention it and his d.o.b. is different on the SDX site there. If I could be bothered I’d have a look at a few more of these minnows and see if the new boys have been active in any more of them. They must have quite a wheeze in mind in view of the paper losses they and their clients are suffering currently. Still, you haven’t got a loss until you sell, what?

[jtidsbadly] 09/4/2024 18:35

UKOG appears to be spiralling down now, currently capitalised at £1.7mm. Vast looks as if it’s enjoying a pump and dump, so a large share issue is probably imminent (not the diamonds).

I’ve just noticed that Mr. Zielicki is a Director of SDX Energy, another AIM minnow that has suffered a very poor performance record. Interestingly, he was appointed at about the time that Aleph Commodities took a 20%+ stake. Their investment clients must be true long term investors. But given the statements recently by Mr. ‘Erbert, is it possible that Anguish may be persuaded to do a share swap there?

[bionicdog] 08/4/2024 18:43

No you didn't.

[iceagefarmer] 08/4/2024 16:55

bought a nice fat wedge today..the tide will turn soon

[fat frank] 08/4/2024 13:23

Thank you - yes, it's very fulfilling.

Look forward to speaking in a couple of weeks.

[bionicdog] 08/4/2024 12:56

Good for you. What a life you lead.

[fat frank] 08/4/2024 12:41

Dogbreath; wrong again on both counts. As usual.

Who's in hiding? I check this board every week or so as I have a life. Not hourly like you

[bionicdog] 08/4/2024 12:21

Yes. If only they'd lost all their money , then gone into hiding like you.

[jtidsbadly] 08/4/2024 09:45

1347: I’m suggesting that they’re going to be assiduous in suggesting that there are parties interested in investing in the storage potential at Poundland. Any deal will probably do little more than move responsibility for de-commissioning elsewhere.

A very big sustained rise in the gas price would resolve many of their financial issues. But even so, it would need to come while the gas flow is still sufficient to pay Angus’s expenses. The hedged volumes for the next three-six months would be unlikely to meet their costs, including finance and new equipment costs, which is why they’ve got the one-year loan repayment deferral. Is Brockham merely to justify another share placing?

[1347] 08/4/2024 09:09

JT Well you can view the sidetrack as a glass half empty or glass half full event. Yes it increased production and reserves but cost a lot more than they said it would, even for a supposedly 'low cost operator' who are 'energy industry specialists with a proven track record'.

As far as cost is concerned, well £11,067,000 is what they added for Oil and Gas production assets (note 11 AR) so that's pretty much what it was. I wonder how much those Martians would have charged? Yes, anyone that's read the Field Reports knows the history of the drills and the risks.

Decomissioning shouldn't be an issue, it was just £2.5 m, the previous pen holder, assured us of that and even had it validated by an independant well examimer. Still due to buying out the rest of Poundland for circa £14 m (an absolute bargain eh?) they managed to acquire the rest of the liabilities, a masterpiece of corporate dealing what, what? Now it stands at £4.970 m for all their assets, so still not that much. You're not suggesting that just could be a tad insufficient are you?

[jtidsbadly] 08/4/2024 08:32

1347: well, the sidetrack was a disaster, wasn’t it? It’s added 1-2mmscfd to the production from the two pre-existing wells and required a second compressor, all at a cost which the management resolutely avoids disclosing but which may well be over £12mm. for the sidetrack alone. Investors are taking a lot on trust if they expect Mr. ‘erbert’s new team to do better. The geology under Saltfleetby is prohibitively complicated, as the field’s previous operators found. They didn’t fancy doing any more work on it. They didn’t fancy paying for the site’s restoration either, what? If Anguish can’t find an eventual storage partner (assuming they still exist when this becomes an issue), shareholders will presumably end up with a massive bill for site and pipeline restoration.

[1347] 07/4/2024 20:36

JT Often not, whether audited or not is stated on the front sheet. By the way break even (all in) at Poundland is much higher than 20 p as quoted in Kansas, try dividing the total direct costs by the Therms, you'll see. Of course they still make on the Condensate but at these prices Poundland is running at an Operating loss, all in the Annual Report if you adjust for the derivative write back.

[jtidsbadly] 05/4/2024 16:09

1347: well, you’re probably right. These small company accounts don’t require an outside auditor, do they?

[1347] 05/4/2024 16:05

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 15:35

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 12:55

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.