Angus Energy Share Discussion Threads

[clottedq] 07/6/2021 10:10

JT...

I would bet Anguish's unblemished 100% record of failure on the interims being late!

CQ ;-)

[jtidsbadly] 07/6/2021 10:08

Does anyone else think there’s a chance the interims will be late?

[clottedq] 07/6/2021 09:58

Blimey... you know it's BAD when over on LSE "even" Maddog finally smells something and throws in the towel!

Looks like Lucan's going to have to dip into his own pocket - together with the other shysters on his team - and "BUY IN" to convince The Market that their enthusiasm is genuine FOR ONCE!

Yeah... AS IF!!!

CQ ;-)

[sincero1] 07/6/2021 09:41

jtisbdly " people don’t like oil and gas plants on their doorstep," .. and there we have the reason this doughnut posts here, just as i predicted....

[sincero1] 07/6/2021 08:32

looks like nurse took the weekend off and didn't lock the computer away ... the resident window lickers seem more agitated , deranged and desperate than normal. why are they so worried ?

[jtidsbadly] 05/6/2021 21:18

CQ: they haven’t even bothered to change the rules, they've just broken them without even a by your leave. They’ve lied, in fact: most if not all of those questions were asked before even the middle of the month. I wonder when James II will realise: that was his, at the top of the list with the multiple sub-questions. Asked on 15 May.

It’s odd also that no one on the other site is questioning Anguish's motive in putting “Lidsey back in the frame”. As you know, I think it’s probable that they did it to avoid having to provide for its abandonment provision, as detailed in that October 2019 release. It’s quite a lot of money. We now know that they've been living on credit for the past two or three months, even with this write-back and they haven’t finished paying their creditors back even yet, even with the issue of 50mm shares in lieu of cash. They were as strapped as we said they were. They haven’t got a budget for Lidsey, or for management expenses - the Mercuria money is all for Poundland.

[clottedq] 05/6/2021 20:03

JT,

No surprise this BOD are altering the Q&A rules to suit their agenda. They still haven't published the questions asked about director buys have they? Reasonable to expect the BOD to put THEIR OWN hands in their pockets - if - as Lucan suggests - this is such a great value play...

...I wonder why they haven't?

...Probably because - like the rest of The Market - they know it's just the latest load of old bull to keep their pay checks getting signed off!!!

As for Ocelo-Bot... well he doesn't even try to hide his paid-for ramps anymore. Quite obvious he works for Anguish & U-Dog PR IMHO. Got a job on his hands with both these dogs!

CQ ;-)

[jtidsbadly] 05/6/2021 18:02

CQ:yes, and it’s misleading stuff, too, about lithium extraction and Warren Buffet. It’s all at the early trial stage, he hasn’t made a major investment and has accepted Government grants. If people don’t like oil and gas plants on their doorstep, wait and see what the Cornish make of lithium extraction from geothermal water!

Re Ocelot’s injudicious post referring to the Q&A, JamesII doesn't seem to have noticed that his question, raised on the company site on 15 May, will not be answered for another month, as Anguish has changed the date it was asked to 24 May! It’s unbelievable, really.

[clottedq] 05/6/2021 17:27

The other site seems to be banging the "Geothermal" drum already!

God give me strength...

This BOD have so far proven incapable of accomplishing even the most basic tasks... they really should focus on one job at a time. Once they have a FIRST EVER SUCCESS in the bag... THEN... and ONLY THEN... should they move on to other projects... further squandering shareholder's money.

It's high time they recognized their limitations. Clearly The Market already do!

CQ ;-)

[jtidsbadly] 04/6/2021 17:43

gkb47: re Angus Energy Holdings, I’ve assumed this is a sort of legacy entity and doesn’t fit into the network of AEWB 2&3 and Angus Energy plc any more - if it ever did (there’s one or two others in the pecking order - I just can’t remember their names).

[jtidsbadly] 04/6/2021 17:36

JA51: I agree with your analysis. It’s one of the reasons I expect Mercuria to want Anguish to have more placings. It’s free money if they end up absorbing Poundland in due course. It’s not clear to me whether the Knowe convertible agreement stipulates that Knowe may choose to be repaid in cash or if they have to take shares. I’d be interested in others’ views on the wording.

The new shill on the other site has judiciously dumped the “negativesR21; side on his long list and is now pumping like mad, including highly misleading references to the CPR. The CPR assumptions are, in fact, in the bin. The update in September, stating a reduction of £1.7mm, to £15mm., in the value of Anguish’s share of Poundland, is ridiculous. Among other things, it takes no account of interest, arrangement fees, share issues to lenders, etc. Quite apart from the basic arithmetic. The number of shares to be issued (to the new boys presumably) will go higher, they're still negotiating how much Anguish will still owe them! It was kind of the new boys to allow this debt to rack up all these months, as we predicted must have been the case. We haven’t been told the specific interest rate nor have we seen a confirmation of the payback schedule for the £12mm. loan. Nor do we know the size of Saltfleetby Energy’s or Forum Energy Services’ balance sheet. And we don’t know about the status of OGA approval or about abandonment costs and provisions for them.

Geothermal! Lidsey! Ha ha. Shangri-la back in the frame. I dare say the Rouser Trousers will stay in the tissue paper this weekend, the noble Earl may actually be having to do some work. Panic stations. Or perhaps the Board is now resigned to its fate.

[clottedq] 04/6/2021 17:25

Well said JA51...

A great summary!

JTP STILL on the payroll is bad enough on its own... but combined with everything else... this company is still a field of red flags to any new investor IMHO.

I see Ocelo-Bot is still enthusing over on the other site about George's waffle... someone should explain to him that NOTHING that comes out of that man's mouth can be taken at face value any longer.

Either he Puts up - or shuts up... the rest is just noise to The market these days since he's already cried wolf far too often!

CQ ;-)

[ja51oiler] 04/6/2021 16:57

So at the end of the week, there is no denying that the £12 million funding was the best news shareholders have got in a long while. However, as has been pointed out this is only the case because commodity prices are higher than they have been in years and nothing to do with the BOD abysmal decision making. The terms however are somewhat opaque to mere mortal PI,s and they have had to mortgage everything to secure the loan. If SF7 fails or it's game over for Angus. The last 9 attempts by the best in the business have all failed. To make matters worse it's now High-risk SF7, not Safe'ish SF5. The lenders have obviously done the sums and worked out they can still break even from the 2 producing wells with the safe 5mmmscf. if the sidetrack fails they take everything that the partners have had to mortgage and that's why the share price is falling rather than double bagging as some want you to believe.

just a few more FACTS to add.


Not produced any oil or gas for 14 months.
£5500 a day cash burn.
Balcome unanimous planning permission refusal.
Brockham OGA permission ends in 4 months.
Lindsey 10 HGV movements max a week.
Water cut 30% No EA approval to inject.
WSCC permission not given to inject to Brockham.
£3 million Holmwood disaster.
2 BOD/managment involved in share scandals.
Multi-million shortfall withheld from the market.
Multiple incorrect RNS releses.
JTP still on the payroll
£1.4 million CLN due in April

[clottedq] 04/6/2021 16:43

I think we all know why the puff piece interview was scheduled... unfortunately they've not been able to sell down lots of shares in advance this time... because Lucan's optimistic artificial spike was punctured by Market Scepticism...

Aw diddums! Back to Malcy with payment in more pies then I guess?

CQ ;-)

[sincero1] 04/6/2021 16:19

a frenzy of supposition and nonsense from the unstable grey brigade .... and this after the rns to confirm funding add mercuria, shell, hires, bullish interviews etc ... these 2 are either worried about the pipeline running through their garden, almost certainly in jtidsbadly's case as he is ready to explode with agitation or utter imbeciles - definitely in ja51"contractvoid"oiler's case. this is doing you both harm , step away .

[jtidsbadly] 04/6/2021 15:25

JA51: my reading of the latest RNS was that the shares were in lieu of cash, rather than a bonus! The new boys must have been working for nothing from November until they’ve sold their shares. One doesn't know (does one?) whether Aleph has actually lent money of their own.

[ja51oiler] 04/6/2021 15:08

It's nice work if you can get it isn't it?
Get paid twice for supposedly sorting out a loan and then amazingly supplying the money themselves. Then they get the 3% funding fee from the £12 million-plus the other goodies!.... It's where all the money has ever been made here, through arranging the next loan and nothing to do with oil and gas, so not surprising!

[jtidsbadly] 04/6/2021 14:58

JA51: I factored in a higher cost for the pipeline when saying in late March/early April that they must be close to running out of cash. Since then, as was made clear in the loan RNS, they’ve been living on credit, which is why they’re giving Mercuria 30mm. new shares and the new boys etc. 20mm. shares respectively in deferred payment. But as you say, it’s not finished - and they appear to have ignored pleas to get some potatoes in.

The excess supply of shares in the market over the coming weeks is likely to come from selling by the new boys, I should think. I’d be getting out while the going’s good, if I were them. Take the small loss vs. payment valuation.

[ja51oiler] 04/6/2021 14:48

HITS

A couple of further points to consider.

How much extra the pipeline is going to cost running into 21 weeks before they abandoned it (presumably due to lack of funds to finish the last 150metres) 3 weeks was the original target!, and whether the Spreadex Ltd shares being 4.21% are going to be held or not.

Down to 0.765 now.......The sunshine variety bus is going to be quiet on someone's way home from Chiswick, or wherever the troll hails from this afternoon!

[jtidsbadly] 04/6/2021 14:43

gkb47: the decommissioning provision that they announced in October 2019 in respect of Lidsey and Brockham was never applied. It’s not in the September 2020 annual report and accounts. As you know, I said when “Lidsey [got] back in the Frame” in February, it was merely to allow the announced provision to be reversed in time for the publication of the annual accounts in March. I’d be surprised if they do anything at Lidsey. They haven't got any money for it.

[sincero1] 04/6/2021 13:57

hits - look what you have done talking all that sense! the resident window lickers are now in a frenzy - supposition, guessing , making stuff up .... they are clearly deranged . nurse straight jacket and padded cell time for these 2 fruitloops... they shouldn't be allowed anywhere near a computer....

[jtidsbadly] 04/6/2021 13:22

HITS: I think the lenders will want Anguish to raise as much as possible from the equity market, as early as possible. If the sidetrack fails, the project will be uneconomic. They’ll want as little as possible to be have been drawn on the loans.

[headinthesand] 04/6/2021 13:15

JTids & JA51, I freely admit that with characters such as Tidswell still bizarrely on board, ANGS is more than capable of pouring petrol on subdued embers, so who knows?

It's mere common sense that the lenders have firmly earmarked the £12 million for Poundland and I am more than sure this has been contractually enshrined (because it's literally the only ANGS "asset" that might be worth a damn).

But in that light, I can't see ANGS going to market, cap in hand again, to attempt to finance the Weald re-re-re-re-re-visited, or to indulge any magic pixie dust geothermal rainbow chasing.

Similarly, I'd hope that the company can (or is allowed to, under finance terms) cover its other incurred liabilities and ongoing core and non rainbow-chasing running costs out of already secured funds. If not, I really don't think any attempted placing is going to be met with anything other than disgust, so a savage discount would be needed.

Sincero, I wouldn't go anywhere near so far as saying a positive week. However, I would say a neutral one (as the share price of course indicates)- if only because the market has already priced in its crashingly dim view on ANGS's overall credibility, no matter who George may pay to hear and propagate his futile squeakings.

[jtidsbadly] 04/6/2021 13:13

JA51: yes, half-yearly report for Angus Energy plc and annual report for AEWB No.3, both later this month. The interesting detail is normally in the latter.

gkb47: I think it's more than £2mm. p.a. Wages and perquisites, rents, not so much office rents (are they still at Chiswick? They were supposed to be out last September) but payments to farmers etc, for the lease rents on their Weald “assets” and Poundland. They've hired more staff already and estimated a while ago additional Poundland staff costs at £1mm p.a. That compares with the £1.8mm. p.a. that Wingas paid, for a smaller operation. They paid £661,000 in legal and consultancy fees in 2018/19. Their insurance costs must be rising sharply. It all mounts up, doesn’t it? P.22 of the AEWB3 accounts details it all. I dare say they’ll be less forthcoming this year.

[ja51oiler] 04/6/2021 12:39

HITS

This is Angus!...as you know there is always something that crops up!
There are a few things that could sway the share price as far as I can see.
There was no mention of the Knowe £1.4 Million CLN yesterday. That is going to need to be resolved at some point. The AAOG issue is far from resolved as are the accounts for Saltfleetby and Forum not being published yet. Does Angus now share the Pipeline De-com costs which may run into the Millions?.... We were told they were looking for a farm-out partner for Lidsey! this now looks not to be the case, Brockham EA permission and SCC PP to be sorted for the water disposal, and of course Balcombe and the decision to throw the towel in or not there. We know that the £12 million was solely for Saltfleetby so any of the other "ha hum assets" will need financing at some stage. Then there are the £200k shares that they have given Aleph for sorting a loan out that they themselves now seem to be supplying could well come onto the market also.

Finally, the half-yearly is published in three weeks' time...that should make interesting reading and could scare some off!