Angus Energy Share Discussion Threads

[clickbait] 16/8/2021 17:35

As of March 2021 5 months ago the group had cash of £591,000.00

What was Anguish's monthly cash burn again?

[clickbait] 16/8/2021 17:32

As of March 2021 net current assets of £1,351.000

Are the net current assets all of Anguish's portfolio. Ie; Brockam, lydsey, Balcombe and Poundland?

Doesn't add up to the MCAP does it?

[sincero1] 16/8/2021 16:48

jtisadly "Anguish were living on their creditors from the end of March, it seemed to me" Poor old confused duffer not letting the truth get in the way of your negative agenda ...as per the interims : "As at 31 March 2021 the Group had cash of £591,000.
As at 31 March 2021 the Group had net current assets of £1,351,000..

[jtidsbadly] 16/8/2021 16:36

chickn: Anguish were living on their creditors from the end of March, it seemed to me. I imagine the Lenders are letting them pay their salaries from the loan monies. They didn’t really spell out the limits on how the money could be spent, did they? Or did they, I can’t recall?

[clickbait] 16/8/2021 16:30

Also. Surely the 12mm loan is specifically for Saltfleetby no? Maybe they are drawing a salary from this instead of another placing? Just wondering as there has been no revenue for an age!

[clickbait] 16/8/2021 16:26

Does anyone know if Anguish have been using any of the ring fenced funds to keep the lights on?

[jtidsbadly] 16/8/2021 15:51

gkb: to be fair, the rules don’t apply to anyone on the AIM, do they? It’s a free for all.

[sincero1] 16/8/2021 15:19

1347 as predicted also with an attempted negative spin... dear oh dear these desperate clueless old duffers are so predictable ...

[1347] 16/8/2021 15:11

JT - Yes late reported but then again he's an ex Tory politician, the rules don't seem to apply to them do they.

[sincero1] 16/8/2021 14:42

oh look what a surprise the resident clueless imbecile did try and spin a negative ...jtisadly "Did his and Paddy’s continued tenure as non-execs depend on it?

[sincero1] 16/8/2021 14:41

another director buy the resident window lickers won't be happy and will try and spin a negative on it ....

[jtidsbadly] 16/8/2021 14:01

...and he appears to have bought them on 4 August.

[jtidsbadly] 16/8/2021 13:43

I see that Cameron Buchanan has bought a bit more than a million shares. Did his and Paddy’s continued tenure as non-execs depend on it?

[1347] 16/8/2021 09:08

JT Took a quick look and it was booked under: Proceeds from acquisition exploration and evaluation assets in the accounts to September 2019 so I don't see a discrepancy on this item. Having problems reconciling some others though, yes AEWB No 3 does have liabilities that are significantly different from those at group level.

[1347] 16/8/2021 07:35

JT I'll take a look at the accounts later but the RNS of 16th July 2019 stated that it had been paid then so it ought to be reflected in the 2019 accounts. Note I still can't explain the impairment charge difference, which are not explained by aggregating up the subsiduary account values, as far as I can see. Also I've never been able to understand what some of those creditor amounts relate to in the subsiduary accounts and why they don't ever seem to get paid down.

[jtidsbadly] 16/8/2021 00:39

gkb: I don’t understand the treatment of the £2.5mm. at all. I’m reading the September 2020 accounts as implying they didn’t receive the abandonment reserve money until after the September 2019 accounting date. That can’t be right, can it? It was part of the deal entered into in June 2019. I hope the full AEWB3 accounts will be available soon. In any case, the size of the AEWB3 balance sheet appears to be substantially larger than that of Angus Energy plc, the group holding company and it appears to have a huge imbalance of liabilities over assets. Or am I reading it all wrong? AEWB3 also appears to take advantage of the exemption from disclosing payments to its Directors.

[cantrememberthis2] 15/8/2021 21:56

2.8p target for me
Weekly chart analysis, future newsflow and ever crystalising of Saltfleeby project...

Yup £25-30m market cap level please

Geo news and kaboom IMO

[sincero1] 15/8/2021 16:23

JA51OILER - 31 Mar 2021 -" As JT has pointed out, if there was a contract still in place with Shell as you maintain, Angus would be in breach for non-delivery and it would now be void.

[sincero1] 15/8/2021 16:21

From angus q&a "We do monitor the Boards for gross libel"...

[sincero1] 15/8/2021 16:20

Libel : a written and published false statement about a company that damages their reputation."

[sincero1] 15/8/2021 16:19

Ja51"contractvoid"oiler "THEY WERE OUT OF MONEY!!!"
As at 31 March 2021 the Group had cash of £591,000. As at 31 March 2021 the Group had net current assets of £1,351,000.....

[1347] 15/8/2021 12:17

JT I'm no bean counter either but the Plc accounts are consolidated accounts for the group so I don't see how a £2,550,000 impairment charge in a subsiduary can become £900 k at group level, it impacts both the P&L and the BS, can't be right surely. Maybe HITS can ask ocebot on the other board as it may be something to do with these new OAAPs?

[clottedq] 15/8/2021 11:34

George Lucan ("so-called" FINANCE EXPERT!!!!) :

"At this stage the Directors are confident that re-connection {Saltfleetby aka PoundLand} at commercial rates is possible within the £2.5 million budget and advised timescale of completing work between May and August 2020."

If an MD of any normal functioning professional company made a catastrophic error of this scale... they would be sacked...

...and rightfully so IMHO!

Wake up George... you're going to be two years late and £12 million over budget. Take responsibility for your schoolboy errors & offer long suffering shareholders your immediate resignation. If Anguish is to have any chance of success they need to clear out the dead wood (yourself, ClanWilliam & Tidswell) and replace them with "respected" industry professionals... otherwise we're all just in for more delay and disaster.

I'm afraid The Market has ZERO faith in anything you say - the current share price says it all really!

CQ ;-)

[jtidsbadly] 15/8/2021 11:23

gib: I think that in the plc accounts, the impairment charges are for items specific to the parent company. I think they consolidate in the plc accounts the bottom line of the subsidiary accounts, rather than every line item, don’t they? I’m no accountant though.

[1347] 15/8/2021 10:02

JT Something else that doesn't seem to add up. I was looking at the impairments and for AEWB No 3 in Sep 2019 accounts there was an impairment charge booked of £2,550,000 and some notes about Brockham accounting for £1.1 m of it. The thing I don't understand is why in the 2019 Plc accounts it only shows £900 k, with the notes indicating £300 k for Brockham and £600 k for Lidsey? Interestingly enough the additions shown at £2,121,190 in AEWB No 3 accounts are the same in the Plc accounts at £2,221 k. How can the same value not be reflected in the Group accounts for the impairment, or have I got some wires crossed, any ideas?