Angus Energy Share Discussion Threads

[jtidsbadly] 11/8/2021 13:10

1347: I understand that what’s on the CH site is what was sent to them. They’re contacting Anguish for the missing Notes.

[jtidsbadly] 11/8/2021 11:25

UJ9: it’s true to say that many on this board, including me, have a jaundiced view of the Anguish management. It’s also true that if for the first time they succeed in doing something on budget and on schedule, and if the quantity of gas lives up to their expectations, and if they exceed the hedge stipulation of 70% of planned gas production by next July, and if gas prices hold up near current levels, shareholders could make a lot of money in it. It’s too many ifs, given the quality of the management here, for me. They’ve been too economical with the actualité and the history of their acquisition of the thing is far too dodgy for me. It’s perfectly possible that Poundland will turn out to be the clapped out asset that Wingas thought it when they passed the parcel to Mr. Forrest.

These are the kind of thing you have to weigh in the balance, and whether the price reflects the risks. It’s also quite likely that they’ll need to raise some cash from another issue of shares, which will, if the past is a guide, be preceded by a bit of a ramp, so short term traders may possibly be able to make some money, even from current levels. And there have been price ramps in the past that appeared immediately to precede the departure from the share register of a large holder, known to the management. There was a classic last August, when they released the announcement of the gas offtake agreement with Shell. Oddly, they omitted to mention at the time the requirement for an unexpected loan of £12mm. to complete the £2.5mm Poundland project. They’d identified this requirement in March and had been negotiating with banks for five months before the Shell offtake agreement announcement and the coincident share ramp.

I wouldn’t hold these. If I’d sold them and missed a subsequent short term ramp, I’d congratulate the beneficiaries and I’d still be glad I was out of it. Good luck with whatever you do with your proceeds.

[ja51oiler] 11/8/2021 10:50

UJ9
Its easy to see the attraction here with gas prices at all time highs. But as you have found out, scratch the surface and all is not as some would have you believe.

Good luck, and take note of others opinions but always DYOR!!

[sincero1] 11/8/2021 10:25

1347 you should be apologising to uj9 ditto jtisadly, ja51"contractvoid"oiler ..

[ultimatejustice9] 11/8/2021 10:16

I don't know much about the history here. Lots of interesting posts yesterday, looks grim. People do persuade others to buy / sell . I've been persuaded to sell but understand it's my choice

[1347] 11/8/2021 10:14

UJ - Up to you but I always recommend people to research for themselves, especially with companies like Anguish and make decisions based on their own perceived risk/reward rather than some of the stuff posted on BBs.

[jtidsbadly] 11/8/2021 10:11

Yes, that’s what I asked them for - the Notes which, as you say and as I pointed out to them, form an integral part of the Accounts, as stated by the Auditors. Last year’s accounts finished at note 18. Page 22 was the detailed table showing how they’d spent the money. The previous page includes a statement that this page does not form part of the statutory financial statements. It’s also headed “management information”. I suspect it slipped out before they'd noticed. I thought it was the most interesting page in the release but don’t expect to see an updated version!

[ultimatejustice9] 11/8/2021 10:05

I've sold some profit today, as much as I hate to say it the naysayers here have put doubt in my mind.

[1347] 11/8/2021 10:00

JT - Probably not the detailed P&L breakdown but that is a different matter to the notes which form an integral part of the accounts and so should be published in toto as far as I understand it.

[jtidsbadly] 11/8/2021 09:50

1347: I’ve had a look back over the past three years’ AEWB3 accounts and it’s only the accounts issued last year that contain that very useful table of how the money was spent. Kind of the management to include it but I’ll be surprised if an updated version of it is released when the latest full accounts are finally up on the CH site. I wonder if its inclusion last year was inadvertent.

[sincero1] 11/8/2021 09:11

predictably with positive news flow and when the share price rises the resident window lickers post negativity in overdrive. totally transparent . totally discredited , totally disingenuous . they ignore all the positives and try and spin negatives from the most insignificant things .... what a waste of their final years ....

[jtidsbadly] 11/8/2021 09:08

JA51: yes, quite. The optimists on the other site think the shares will leap if the part-time interim MD manages to get gas flowing early in the new year. But to me, the key is his ability to produce enough to meet the terms of the hedges. I’m sure the price would have a sharp rise if he does get the plant built on schedule and producing but it won't last long if the sidetrack fails.

WG818: are you familiar with the term “Tids3someR21;?

[ja51oiler] 11/8/2021 08:41

JT Following on from your "over a barrel" post yesterday just a little reminder of what that 8% GROSS that the lenders will get if the loan can actually be paid means to us mere mortal PI's

"On 13 May 2021, the Group signed the Loan Facility, conditional only on the setting of the hedge, regulatory approval of the royalty of the Oil and Gas Authority between Angus Energy and Saltfleetby Energy Limited and Mercuria Energy Trading Limited and Aleph Saltfleetby Limited as the co-Lender. The term of the Loan Facility provides for a four year amortisation loan facility of up to £12 million with a 12% margin over LIBOR, a 3% commitment fee payable out of the facility, a share granted of 30 million shares in Angus, issued over the life of the facility and an override of 8% of gross revenue following the repayment of the facility."

What is Gross vs Net?

Gross means the total or whole amount of something, whereas net means what remains from the whole after certain deductions are made. For example, a company with revenues of $10 million and expenses of $8 million reports a gross income of $10 million (the whole) and net income of $2 million (the part that remains after deductions).

[markbarker] 11/8/2021 08:24

George buy a few million come on pal

[ja51oiler] 11/8/2021 07:58

UJ9. Log onto the company website.....all the info is available.

[jtidsbadly] 10/8/2021 23:08

1347: I don’t know what he does either. Maybe geothermal was his idea of business development. He’s not been the same since Perth, has he?

[ultimatejustice9] 10/8/2021 22:52

How do you see what percentage the investment company Forest hold ?

[1347] 10/8/2021 22:24

JT Well if the Business Development Director didn't bring in that business then he didn't bring in any business in over 2 years in the role did he, so what is he getting paid for (with options)? Plants and pushing odd envelopes? Can't say, no experience in either.

[ultimatejustice9] 10/8/2021 22:19

Somebody shared an email on the telegram group from Forest suggesting they are upping their position. I've asked them for clarification

[ultimatejustice9] 10/8/2021 22:17

Thanks for that, he is a bit of a ramper and was trying to convince people to invest in UKOG in the Angs telegram group and the trader groups.

[ja51oiler] 10/8/2021 22:04

UJ9....Ocelot often gets it wrong. It was only 10m and 4m of that was doubled up trades.

Vol. Sold 4,431,198
Sold Value £42.10k
Vol. Bought 5,673,737
Bought Value £53.90k

[jtidsbadly] 10/8/2021 22:03

1347: conventional wisdom has it that Poundland was Jonathan’s idea, doesn't it? Is there any evidence for that? I don’t mean a 19-year-old Eastern European female in a small office in Poland. She can’t have been a Gazprom plant, can she? This is getting ridiculous! Whereas Paddy’s Russian connections are pretty good and he’s demonstrated to them that he’s not averse to pushing the odd envelope, what?