Angus Energy Share Discussion Threads

[jtidsbadly] 13/7/2024 16:10

1347: would Brother ‘erbert work for Steve Sanderson?

I think this interview is just another puff piece. Brother ‘erbert, being more ascetic, would probably prefer not to be involved in such a thing. I agree, it’s hard to see how, on the information offered, Angus is in a close period. The Chairman should fill his boots. The Ocebot is being deployed big time in Kansas. Seldom a good sign. More likely another share placing on the way.

[bionicdog] 13/7/2024 15:01

How would UKOG pay for it , magic beans?

[1347] 13/7/2024 12:47

JT Makes no sense as if they are in merger talks to the point that it's a closed period then that ought to be notified to market. Not only that but he's saying he'll buy shares when it's over, at which point what shares would he be buying?

I've said for some time that Anguish Energy was likely being prepped for a low ball take out, who by we'll have to see. It could be Sound Energy again, who are divesting their Moroccan assets. Then again it might be UKOG, which is just about finished and would allow Anguish to become the operator at Horse Hill, which is close to Brockham.

Either way I very much doubt it will be benficial for non-insider/non-related party shareholders. It's just more twists and turns on Snake Pass.

[jtidsbadly] 13/7/2024 10:47

1347: he also said he’d be buying Angus shares after the current close period. What close period is that? He talked a bit about merger talks, the duration of which would disqualify a Director from dealing, but I’d be surprised if that’s more than a smokescreen.

[jtidsbadly] 12/7/2024 21:07

1347: he was clearly reading from a script or consulting notes very thoroughly, hardly raised his eyes from whatever he was reading from. The reference to 2 mmscfd came very early, in the first minute or two. I think they’ve stopped production for a week. Maybe routine maintenance (in line with the CPR). But I suppose it may be due to the issues that Bubblepoint raises in Kansas about the balance between gas and liquids needing to be addressed. I agree, if production is currently averaging 2mmscfd, and if this carries on for a prolonged period, they’re in serious trouble.

[1347] 12/7/2024 17:06

JT Sounds to me like he hasn't got a clue, they just told us what production was for the last quarter, the average was 6.4 mmscf/d, is he now indicting it's fallen off a cliff and will be 2 mmscf/d ? If it is they are deeply in the mire.

[jtidsbadly] 12/7/2024 16:52

134: no, I didn’t catch anything about geothermal.

He said within the first minute or so that they were producing “2 million scuffs a day”. He also said that work was underway on the existing plant but that they expected to be returning it to production again next week. Presumably that explains the recent nil returns. Let’s hope so, or those hedges are going to be a problem again - though on nothing like the same scale as two years ago, when the gas price was three times higher and they were producing nothing.

[1347] 12/7/2024 15:53

JT No I haven't watched it, I'll have to consider whether the upside of watching Katy is worth the downside of watching some boring oil man with Russian connections (PS: I don't think it's the ocebot, that connection lies elsewhere with more direct vested interests than a few interview fees I would say).

No idea about 2 mmsfc/d, it is already over 6 mmscf/d (or rather was, it seems to be 0 mmscf/d for the last three days) did he explain that?

As for the drills. Well I see there's a new Planning application, I might get round to reading it at some point but I hope they've done the downstream EA assesment because the Supreme court have just overturned two approved plans in a landmark and quite ridiculous judgement, but which I suppose is entirely in line with the increasingly daft, dysfunctional and surreal banana monarchy.

Also the marxist clown, Red Milliband, is trying to stop all drilling for oil and gas in the UK, including the North Sea for extant licences where companies have spent a fortune on platforms. One way or another I don't see them drilling Poundland in early 2025, even if they could find the funds, which they clearly don't have.

Talking of which, so they are now talking about a new Now You Can Borrow Enough to Get Competely Out of Debt Loan, to subsume the current Now You Get Completely Out of Debt Loan which subsumed the Bridge Loan Too Far, which subsumed the Nijmegen Bridge Loan needed because the Loan They Didn't Need wasn't enough to get to first gas? Spivving show, what, what? No mention of GeoThermal Rainbows on the horizon?

[jtidsbadly] 12/7/2024 13:56

2mmscfd.... maybe a little low, not high, what? Where did he get that figure from?

[jtidsbadly] 12/7/2024 13:06

1347: have you watched the Zielicki interview? Absolutely hopeless. They’re going to drill more wells and re-open an old one, which will add hugely to gas production, install a booster compressor this year, which will add hugely to flow rates, pay a dividend, merge with other AIM companies, produce more oil at their existing oil assets(!) and borrow more money from Trafigura and Kemexon. He himself will be buying Angus shares at the end of the current close period(?). They’ve got excellent, experienced management with a combined 200-300 years of experience. Then they’re going to talk to the new Government about gas storage at Saltfleetby. And he also said they were producing 2mmscf/d. Does that sound a little high? Not a word about hedges, offtake agreements, royalties etc. What have I left out? Oh yes, he said that at current rates of production, they’ve got 40 years of gas reserves at Saltfleetby. That’s the statistic that would worry me most! They’re shut down at the moment, plan to open to production next week.

The gorgeous pouting Katy (Ocelot?) lapped it up. Perfectly hopeless, he spent 95% of the interview looking at his screen or notes.

[1347] 10/7/2024 12:43

Gas has gone, what have they broken now?

[1347] 03/7/2024 13:08

JT Yes it is, they are supposed to check the accuracy of the report, it's in the notes not a Director's statement, which forms part of the financial statements that they've audited, although their disclaimer on page 6 means that they are not responsible for any mistakes, even if they are orders of magnitude out it seems.

[jtidsbadly] 03/7/2024 12:50

1347: I don’t think it’s one of the auditor’s functions to proof the Directors’ statement, is it? Nevertheless, it should be back to the scriptorium with Brother ‘erbert, nonne ita est?

Yes too, he’s probably peddling this round anyone he thinks may be interested. Pedalling hard to stand still must be a bit of a strain.

[1347] 03/7/2024 12:13

JT Ah yes, sloppy companies employ sloppy auditors, basically it's very difficult to have any trust in anything they publish.

Oh and I don't think 'erbert will be able to peddle any faster than the Earl of Hazard that used to hold the pen. This is being primed for a low ball take over or de-listing is my bet, hence why the share price was dialled down to 0.4 p.

A few more twists and turns to come on Snake Pass yet though I expect.

[jtidsbadly] 03/7/2024 11:43

1347: it’s on page 16, under “Derivative Financial Instrument”:

“As at 30 September 2023, the company’s derivative profit amounted to £136,966 million”. Good, innit? The Accounts are signed on p. 11 by “Richard Herberts”.

[1347] 03/7/2024 11:14

Thanks JT. I might take a look at some point but only if I can be bothered. To save me trawling, where's the howler that allows them to bid for BP?

These are supposed to be audited so it seems the auditors aren't exactly diligent are they?

I also fail to understand how you can sign off group accounts when you haven't signed off on those for the subsidiary companies first, but it seems in the Banana Monarchy nowadays anything goes.

[jtidsbadly] 03/7/2024 10:38

The AEWB3 Accounts are available now. The usual crop of typos, one of which, if correct, would enable them to mount a bid for BP. Other than that, Saltfleetby Energy is not consolidated here (and SEL’s accounts are now overdue at Companies House). So its share of the derivative losses is not included. They now employ 20 people, up from 17. The information on the hedges is now out of date but still impenetrable (to me, anyway). Though they made a cash loss of over £10mm on them in the financial year. The nice cash flow table they used to include has been discontinued. I think they’re going to be pedalling extremely hard just to stand still.

[1347] 03/7/2024 06:34

Oh dear mentioning Captain America reminded me that we forgot to commemorate St. Brockhams Day last week. So belatedly, here goes:

And Crispin Crispian shall ne'er go by,
From this day to the ending of the world,
But we in it shall be rememberèd,
We few, we unhappy few, we band of mug punters;
For he to-day that lost his money with me
Shall be my brother; be he ne'er so vile,
This day shall gentle his condition;
And gentlemen in Poundland now a-bed
Shall think themselves lucky they were not there,
And hold their manhoods cheap whiles any speaks
That were duped with us upon Saint Brockham's day

[1347] 03/7/2024 06:23

"The Company has received the following TR-1 notifications as set out below without amendment. The Board understands that this is due to intercompany transfers by Aleph Commodities Ltd and Aleph Fin C Ltd, with Aleph directors and partners increasing their personal holdings in Angus, resulting in a holding by Aleph Commodities Ltd of 6.18% and a holding in Aleph Fin C Ltd of <3%."

Understands? Aleph were appointed advisers to Anguish Energy, were supposed to have been a strategic investors taking 21% and they have worked with them for several years but they don't know what actual holdings are held by the ultimate beneficial owners in the various Aleph pop-ups and associates? Yeah sure, what's the share register for then? Are they on the insiders register?

Didn't Captain America say much the same thing once upon a time, just an inter-broker transfer he said, at the end of it though 16,000,000 shares went somewhere, worth just under £1 million at the price then.

[jtidsbadly] 02/7/2024 11:30

1347: that’s true. I can’t imagine Brother ‘erbert parting with any information he doesn’t have to. Maybe there will be some kind of explanation of those very high-priced forward contracts listed in the notes to the accounts last year and of the latest indecipherable contracts listed in the March accounts of Angus Energy plc. Though the AEWB3 accounts are in respect of September 2023, so probably not.

[1347] 02/7/2024 11:06

JT Thanks for the heads up, although I doubt they'll tell us very much if they only put the minimum detail in as they did last year.

[jtidsbadly] 02/7/2024 10:32

1347: the AEWB3 accounts have arrived at Companies House. They should be available on the site soon.

[bionicdog] 01/7/2024 16:37

Yes , but other than that?

[1347] 01/7/2024 16:15

Same old, same old. Put misinformation in an RNS, no problem. Miss targets repeatedly, no problem, manipulate the market, no problem, file accounts late, no problem. Welcome to the Banana Monarchy.

[jtidsbadly] 01/7/2024 08:48

Still no accounts from Knowe, and now Angus Weald Basin 3 is late in filing its accounts. Brother ‘erbert and Carlos falling down on the job, what? Even the supposedly less serious earlier management generally managed to get these accounts in on time. They’re the ones with the interesting stuff on how the money’s been spent.