Angus Energy Share Discussion Threads

[clottedq] 23/8/2021 14:19

Summary of ANGS IMHO:

Now fully reliant on turning a profit on what amount to NIL (or virtually NIL) performing old and undesirable oil assets with expensive abandonment clauses & one gas asset that has already cost infinitely more than anticipated and is already massively delayed.

ANGS are now mortgaged up to their necks in debt and are reliant entirely on their drill prowess (the history of which is a 100% FAILURE RATE!) to drill a sidetrack that even Wingas's finest have already repeatedly failed to master!?!?!?!?

And the best bit:

We're supposed to believe the assurances of the same man (George Lucan) who got his sums so horribly wrong (despite being a "so-called" financial expert)and who predicted that SaltFleetby (AKA PoundLand) would be pumping back in 2020 (despite having ZERO oil & gas experience in his current "so-called" temporary MD role!?!)

AIM at it's very worst!

CQ ;-)

[ja51oiler] 23/8/2021 14:13

JT
I think the most pertinent question is again the Angus De-comm costs at Saltfleetby.
The Russians left the £12.8 million De-Comm costs in. Given that Angus has been out by £12 million in their sums it would seem reasonable that the pipeline De-comm was now shared you would have thought?

I had a look at their accounts again and the "recalculation of liability..of £4,587,730 seems pretty close to figure Angus would now be liable for the @ 51% off the total de-comm including the 8-mile pipeline?

Given the 23rd September RNS states that

"SEL have agreed that the given the Field costs absorbed to date by Angus, advance work done on abandonment of wells 1, 3 and 6, and assistance in providing (as necessary) equity kickers to the proposed debt funding coupon, all costs going forward should be borne out of the facility including residual spend of £0.7 m of connection costs related to the pipeline and National Grid. This will include expenditure on the side-track originally expected to have been funded out of field revenues."

I have asked the question on a conference call, interactive interview without both without an answer, and been ignored on the Q&A Angus website I am very much of the opinion this cost has been overlooked by the market.

[clottedq] 23/8/2021 13:56

Again,

Why I'm demoralized here in Angs
Gentle reminder
It's a huge vote of NO confidence when an MD needs to borrow £12m he previously assured investors HE DID NOT NEED!

The fact that this loan is a staggering 150% above current market cap says more about the likely loan default and direction the assets of this company are heading ... and here's a clue: they will not belong to the shareholders here in the fullness of time IMHO.

My personal assessment: HIGH RISK / LIKELY DEFAULT / MORE THAN LIKELY DRILL FAILURE / INEVITABLE DELAY.

BUYER BEWARE!

CQ ;-)

[cantrememberthis2] 23/8/2021 10:31

Again

Why I'm Diamond Here in Angs
Gentle reminder
It's a huge vote of confidence when someone lends £12m IE 150% market cap

[jtidsbadly] 23/8/2021 10:18

....or you could ask whether the Aberdeen firm has completed the design of the plant yet. Or for how much longer will Anguish be in Chiswick, which they told us they were vacating in September last year.

[jtidsbadly] 23/8/2021 10:06

I see there are no questions on the Q&A! How about:

“where are notes 5-12 of the AEWB No.3 Accounts? Why were they not published along with the Accounts of which they form an integral part?” Or:

“Has Companies House contacted the Company over the issue of the redacted Notes 5-12 to the AEWB No.3 Accounts, of which the Notes form an integral part?” Or:

“Is any of the Lenders a counter-party in the hedge contracts?” Or:

“If the volume of gas produced for sale to Shell is less than 70% of the conservatively predicted volume, how do you plan to meet the terms of the hedges?” Or:

“When do you plan to drill the sidetrack? Can building works be undertaken on the plant while the drilling is in progress?”

[ultimatejustice9] 22/8/2021 20:50

Are you ex expecting news on vast?

[johncasey] 22/8/2021 12:24

yeah the same as QXL destroyed shareholder value but ended up a 200 bagger

[1347] 22/8/2021 11:59

I know Vast Resources it is another dog of a company with a hopeless and disingenous CEO who has made misleading after misleading statements whilst destroying shareholder value with repeated placings and convertible loan notes ending up with the company mortgaged to lenders (Atlas and Mercuria). Sound familiar? I do wish the FCA would wake up and deal with such companies, or at least rename AIM to AGM (Alternative Gambling Market).

[jtidsbadly] 22/8/2021 11:29

Oh, I was wrong, I’m up to four!

[johncasey] 22/8/2021 11:03

keep an eye on vast resources next week..could get very interesting

[ultimatejustice9] 22/8/2021 10:38

Ramping / de-ramping who cares, it's about making money

[1347] 22/8/2021 10:10

Yes can't..... is just another brain dead trading clown getting annoyed that the stupid ramping and links to their childish twitter feed isn't working. In the bin for me too.

PS: I won't be going anywhere until such time as I choose too so jog on and when you get as far as you can - well keep going......

[jtidsbadly] 22/8/2021 09:52

And here’s the troll that infests both sites with his ridiculous nonsense. In the bin you go, with your little gang.

That’s three for me too now, clickbait.

[jtidsbadly] 20/8/2021 23:35

You too, clickbait. Thanks.

[clickbait] 20/8/2021 22:43

I took your advice and am filtering them now.👍

[jtidsbadly] 20/8/2021 16:59

JA51: SEL has taken advantage of every exemption for which they qualify in the interests of concealing inter-company dealings. The provisions in respect of Poundland suggest to me that SEL retains the abandonment liability for most of it, not just the pipeline, and was left with the money to meet this liability. So perhaps the £2.5mm. that Anguish were given will actually cover Anguish’s own liability in respect of abandonment? For Gazprom to have left so much money on the table also suggests to me that they had very little confidence in the ability of Poundland to offer them the prospect of a profit.

Re the filter button, these two are either unusually unpleasant shills or they’re malevolent internet trolls. Whichever it is, they don’t betray any knowledge at all about the Anguish/Poundland situation. I think they’re best filtered. Any mug punter who prefers what they offer here to the research that the sceptics post is likely, as I said recently, to lose his money on AIM anyway and it might as well be here. Arguing with these two merely gives them an unjustified and spurious credibility.

[ja51oiler] 20/8/2021 16:24

JT
Yes Saltfleetbys accounts are odd, to say the least.
Where is the £2.5million they gave to Angus to re-start or De-commission listed for example?

[jtidsbadly] 20/8/2021 16:16

JA51: I don’t know what happened to that option announced as AAOG was de-listed, whereby shareholders there were going to get a truly massive dilution in exchange for half of SEL’s share in Poundland! Have you seen anything? It seemed like a rearrangement of deckchairs at the time. I’m afraid that Mr. Forrest’s doings are too deep for me.

[ultimatejustice9] 20/8/2021 16:07

Let's have a bit of pace and urgency on the de-ramp chaps

[ja51oiler] 20/8/2021 15:09

JT.
Yes, Anger is building over at AAOG!
Do you think Forum being the parent to Saltfleetby Energy And owing them the money that Mr. F used to buy the AAOG shares in the first place, will end up owning 25% of that mess as well?

[sincero1] 20/8/2021 15:01

ja51"contractvoid"oiler " Angus isn't anything to Shell at present" They have a contract you imbecile .. you know the contract you said was void but then said "I'm sure there will be a contract in place" and then they are contracted to supply the gas ...contracted as in the word contract and thereofre contractor ... your confusion points to an unbalanced mental state ... that will be the worry i imagine, i would be very very worried if i were you after what you have posted ......added to your lower than average intelligence and age and you are on a downward spiral . try not to worry each time there is a knock at the door or the postman delivers an envelope you don't recognise....... trying to hide from it won't help . best post an apology to angus and shell ... that might help , probably not but worth a try ... good luck

[ja51oiler] 20/8/2021 14:43

O, my good god...Angus isn't anything to Shell at present,,,,,, and if they finally manage to sell gas to them they would become suppliers... not contractors you ...."Moron".

It's been fun playing whilst it's quiet, but JT your right filter time!!