Angus Energy Share Discussion Threads

[jtidsbadly] 09/6/2021 16:47

Look out, the night shift has turned up early.

[kinggibbon] 09/6/2021 16:44

And ps we can read.

[kinggibbon] 09/6/2021 16:44

Jt I'm convinced you're a shemale.

[jtidsbadly] 09/6/2021 16:39

Yes, Mark Barker! And this:

“Finally, the Company regrets that it is engaged in a dispute, disclosed to lenders prior to signing, over a significant invoice from a financial service provider (not the Company's Nomad or Broker) and has sent a letter before action in respect of the same. In the opinion of the Board, properly advised by legal counsel, the net claim is unlikely to be material.”

Could this be the new boys’ reasonable expenses? Yes, they ran out of money. Barristers involved. That’s barristers, your lordship, not baristas.

Not only that but they’re proceeding to order some kit in the next fortnight. Five and a half months delivery time, wasn’t it? That’s the end of November. No gas before well into the new year then, even with a following wind. Still, they may be able to drill that sidetrack before then. Good luck with that.

[markbarker] 09/6/2021 16:31

News o g a approval

[sincero1] 09/6/2021 16:01

jtisbadly "Yes, ran out of money as we predicted and now they’ve committed to loans they can’t afford and derivative contracts they don’t understand" getting yourself all worked up , watch that ticker old duffer... You only ever post supposition and libel... good luck ....

[jtidsbadly] 09/6/2021 14:50

Yes, ran out of money as we predicted and now they’ve committed to loans they can’t afford and derivative contracts they don’t understand and which, according to the expert financier interim MD himself “have tended to go spectacularly wrong..”. Dear oh dear. Pass the port. Quick.

[sincero1] 09/6/2021 14:15

jtisdbadly 27.5.21 " poor angus 0.20 soon " " I expect a downward move into the sixties shortly" still too soon ? not shortly enough ? you have been proven to be a clueless imbecile time and again , a person that just fabricates and claims as fact ... that is very dodgy ground ... sounds all very libellous to me . good luck ....

[jtidsbadly] 09/6/2021 12:35

Well, they thought in December that they were going to be producing gas at Poundland in Q2 2021. The passages quoted above were in January. They wasted another five months talking to lenders and have not progressed Poundland in the interim, so I’d say they’re no further on now than they were then. They’ve got a loan, it’s true, but on terms that they can’t afford and a hedge which, in January, they said was likely to go wrong and which they likened to gambling, where, on average, the punter [Anguish] loses and the House [Mercuria] wins. Good luck with that, then.

And yes, as we correctly predicted, they ran out of money in April, or slightly before. But I’m wasting time in educating you, you’re just a paid PR type or an intern and not a very competent example. I doubt I shall take the trouble in future. You should be paying us for the tutorials you’ve received already.

[sincero1] 09/6/2021 12:20

jtisbadly " They’re not closer now to “a precise supply date” or to “known production” today than they thought they were then" just by the fact that actual time has passed from then to now means they are closer , unless you are now bending time to suit narrative ... you cretin .....

[sincero1] 09/6/2021 12:16

jtisbdaly " come to the same conclusion as we did" and there you have it, translates to " we think we are right therefore it must be right " As predicted can't show me actual proof therefore supposition , always supposition , and supposition from clueless halfwits is worthless. Jtidbaldy , Ja51"contractvoid"oiler delusional is on the phone for you , will you accept the charges....

[jtidsbadly] 09/6/2021 12:15

This is from the Q&A in January:

“The final hedging won’t be put in place until we are closer to precise supply dates, given it will be much easier (and cheaper from a credit perspective) to hedge against known production.

Outside of that likely requirement, generally speaking, companies who have tried to speculate outside of hedging defined production have tended to go spectacularly wrong more often than right in much the same way that in gambling, on average, the punter loses and the House wins.”

“The House” in this regard will be Mercuria. They’re not closer now to “a precise supply date” or to “known production” today than they thought they were then, what? Oh dear..

[jtidsbadly] 09/6/2021 10:11

JA51: well, we got Anguish’s financial situation right, though anyone with any idea at all would have come to the same conclusion as we did.

Now, re the Mercuria hedge: Anguish has not been conspicuously good at meeting timetables or estimating what’s there in the ground accurately, has it? What happens if it either fails to get to first gas by the time the hedge applies, or if their “conservative” estimate of production on which the hedge is based proves to be optimistic? In any case, they can’t deliver physical gas to meet the terms of a hedged sale, since the gas is all being sold to Shell. So they’re getting paid the market price minus 6% (I think it is, under the Shell arrangement) and have in place a derivatives contract on which they will lose money if the gas price exceeds 43p (and if they’re not producing the stipulated volume of gas). I’m no derivatives expert, please correct me if I’ve got this all wrong!

Their counter-party will doubtless be Mercuria itself! I think there's a bit of a risk in all this for Anguish shareholders - assuming Anguish limps on until next summer. If I were the Anguish management, I wouldn’t be buying the shares. Still, the interim MD is a finance expert and will have played a shrewd part in the loan negotiations..

[sincero1] 09/6/2021 08:40

ja51"contractvoid"oiler- you are embarrassing yourself again , blowing a gasket , you clearly have no idea , again you write before you think , a typical trait of a cretin. Uclot - never backed up your "fact" yesterday and now you embarrass yourself again .. 2 words to help your recovery " mercuria" " shell" you're welcome.

[ja51oiler] 09/6/2021 08:31

Its like shooting fish in a barrel!!!

I suppose it will deny that the "LAST 9 DRILLS AT SALTFLEETBY HAVE ALL FAILED" next?

Note 3.3

3.3Going concernThe consolidated financial statements have been prepared on a going concern basis. The Group made a loss for the year of £2.516 million (2019: loss of £5.04 million) and recorded a net cash outflow from operating activities of £1.592 million (2019: £4.38 million).The Group meets its day to day working capital requirements through existing cash reserves. As at 30 September 2020, the Group had £1.85 million of available cash. Subsequent to the year end the Group raised gross proceeds of £1,749,990 as a result of a placing of new ordinary shares.The COVID-19 pandemic has not had a significant immediate impact on the company’s operations. The Oil and Gas industry has been deemed critical and thus we have been allowed to continue operations. The Directors are aware that if the current situation becomes prolonged then this may change. The consolidated financial statements have been prepared on a going concern basis.In response to this extraordinary period, the Directors have taken the prudent decision to introduce cost saving measures where possible to preserve working capital. The Directors have assessed the Group’s working capital forecasts for a minimum of 12 months from the date of the approval of these financial statements. In undertaking this assessment, the Directors have reviewed the underlying business risks, and the potential implications these risks would have on the Group’s liquidity and its business model over the assessment period. This assessment included a detailed cash flow analysis prepared by the management, and they also considered several reasonably plausible downside scenarios. The scenarios included consideration of the likelihood of not closing the Saltfleetby debt facility, as well as considering potential delays to expected future revenue. In making their overall assessment the Directors took into account the advanced stage of the documentation in relation to the debt facility and the indicative commitments received to date. In respect of Balcombe the Directors have considered the likelihood of a successful appeal.Although there will remain
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 48material uncertaintyuntil the funds have been drawn down, the Directors are confident in closing the facility imminently. Based on the current management’s plan, management considered that the working capital from the expected revenue generation and the Saltfleetby Debt Financing Facility are sufficient for the expenditure to date as well as the planned forecast expenditure for the forthcoming twelve months from the date of the approval of this financial statement. As a result of that review the Directors consider that it is appropriate to adopt the going concern basis of preparation.As noted above, in the event that the Group is not successful in concluding the debt financing arrangements, there would exist a material uncertainty that may cast doubt regarding the Group’s ability to continue as a going concern and therefore, it might be required to raise additional funding to realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the report.These financial statements do not include any adjustment that may result from any significant changes in theassumption used.

What a moron!!

[clottedq] 09/6/2021 08:18

I love FACTS...

There's no point arguing with them... they're there in black & white for ALL TO SEE!

Definitely the best method for choosing your future potential investment IMHO. Here are a few FACTS to consider when looking here at Anguish:

1) The CEO has overseen a +90% drop in company value since arrival.
2) He comes with no previous oil or gas experience - which clearly is a factor in the demise of the company.
3) He has underestimated the costs of connecting Saltfleetby (aka PoundLand) by over £12 Million pounds SO FAR!
4) He has yet again (in keeping with ANGS 100% record of failure to meet any deadline) missed his own Saltfleetby connection deadline by over a year and counting!

Make your own minds up... I know what I would do: run a mile and NEVER LOOK BACK!

CQ ;-)

[sincero1] 09/6/2021 07:10

ja51"contractvoid"oiler you imbecile, clearly you have no idea how to read accounts but i expected nothing less from you. But as a positive replying you acknowledge you are a window licker. as predicted none of the resident window lickers can back up their claim particularly uclot who claimed it as fact and then ran away as he knew he just made it up. Remember just because cretins think its true , then say its true doesn't make it true.

[clickbait] 08/6/2021 22:59

It's not right!

[jtidsbadly] 08/6/2021 22:43

Chick: that was last August! A particularly good one, I agree.

[ja51oiler] 08/6/2021 22:28

From the Auditors....I think this answers the moron's question!

"Material uncertainty related to going concern forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure made in note 3.3 to the financial statements concerning the group and company’s ability to continue as a going concern. The financial statements have been prepared on the going concern basis, which depends on the group and company’s ability to raise further financing to cover its ongoing working capital requirements. These conditions, along with other matters explained in note 3.3 to the financial statements, indicate the existence of a material uncertainty which may cast a significant doubt about the group and company’s ability to continue as a going concern. The financial statements do not include adjustments that would result if the group and company were unable to continue as a going concern."

[clickbait] 08/6/2021 22:19

JT. DON'T FORGET THE NICE LITTLE BUMP FOR RUPERT!

[jtidsbadly] 08/6/2021 20:49

Chick: well, I think 0.71p is the lowest closing price since December, isn’t it? Before that nice ramp over Frazer Lang’s holding.

[clickbait] 08/6/2021 20:37

ON THE OTHER SIDE. A COUPLE OF THE BIG PI PLAYERS HAVE BEEN ASKING IF THE BOD ARE GOING TO PUT THEIR CASH WHERE THEIR MOUTHS ARE...

IT'S NOT A GOOD SIGN IS IT!