Angus Energy Share Discussion Threads

[ultimatejustice9] 25/8/2021 10:24

Getting close to my entry point , lovely de-ramp

[clottedq] 25/8/2021 10:06

What can we expect:

IMHO: Dilution... Delay & Disaster - delivered late (as always) by the three (NOT so) wise men: George Lucan, Paddy ClanWilliam and Jonathan Tidswell.

CQ ;-)

[sincero1] 25/8/2021 09:30

uclot - you still posting ? yawn.... same old same old .... embarrassing

[cantrememberthis2] 25/8/2021 09:15

WhopperHTTPS://mobile.twitter.com/DeepValueHunte1/status/1430442274542993412

[clottedq] 25/8/2021 09:04

"Any guesses on what the next RNS will be?"

"Another" Placing... "another" delay... or "another" disaster IMHO

CQ ;-)

[ultimatejustice9] 25/8/2021 00:09

Anyone know what the Angs action group was all about ?

[clickbait] 24/8/2021 20:40

Any guesses on what the next RNS will be?

[clottedq] 24/8/2021 16:05

I see Coulda Shoulda Woulda (aka cantrememberthis here) over on LSE is still pumping this dog of a company - despite being seriously down on his buy-ins and top-ups... hardly the share prophet he claims to be now is he?

Coulda shoulda woulda been better avoiding Anguish like the plague and investing in a company where management are aligned with shareholders... not seemingly hell bent on shafting them at each & every turn IMHO.

CQ ;-)

[ultimatejustice9] 24/8/2021 14:28

Haha, he knows them all by first name

[cantrememberthis2] 24/8/2021 13:42

Geonews awaited

[sincero1] 24/8/2021 12:24

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...


...apparently Shell group has a legal dept of over 1000 of which 70% are lawyers ....

ja51"contractovoid"olier brown trousers on ....

[ultimatejustice9] 24/8/2021 09:26

Anyone looked at EDL before ?

[1347] 23/8/2021 20:24

Ah Lidsey, the failed drill targeting the Oolite layer that had equipment failure (comes up a fair bit that one).

www.angusenergy.co.uk/wp-content/uploads/2017/11/Angus-RNS-Lidsey-Oil-Field-Update-20-November-2017.pdf

Still just a temporary setback wasn't it:

"Angus Energy has put in place a comprehensive diagnostic program (sic) with the help of external experts to make all necessary repairs and adjustments to further conventional oil production at Lidsey and increase yield from Lidsey-X2."

Well whatever happened to that programme and the X2 well repairs? No matter because later they were talking it up - but from the Kimmeridge now - remember this howler?

www.angusenergy.co.uk/wp-content/uploads/2018/07/Angus-Energy-Kimmeridge-Assesment-Indicates-High-Quality-Crude-at-Lidsey.pdf

Funny that they never went back and tried to fix X2 or appraise the Kim isn't it? Ah but now all the oil's just to the left, or is to the right and will they know the difference?

[ja51oiler] 23/8/2021 19:51

PS
They used exactly the same tactic of overblowing flows and then blaming the equipment at Lidsey. Check out the cringe-worthy back of an envelope RNS after Mr. Vonk told some major porkies in an interview!

[sincero1] 23/8/2021 19:48

yawn....the disingenuous old duffers still posting i see.... yawn....

[ja51oiler] 23/8/2021 19:39

UJ9
If news comes in that the sidetrack is going to be started in March then I think you will get your wish. The trouble is for Angus if they do drill in October(doubtful in my opinion) They are finished if it's unsuccessful or even semi-successful depending on the gas flow. The 2 producing wells were producing around 5mmscf in 2016 (the last full year of production) and far less than that in 2017 before they were shut-in. The Figures they produce say they hope to get 10mmscf, FYI, The last 9 sidetrack attempts at Saltfleetby have all failed.

I can foresee a scenario when the BOD can be able to do a "Balcombe" and say the gas produced was more than they could manage....the equipment couldn't handle it..bla bla bla however, that would only be because 1 compressor would be operating (only capable of handling 5mmscf)before delivery of the second in February. Such a long gap in production will have caused a big pressure build giving the "Mug Punters" a false picture when it blows its top at turn on. Up goes the share price and those in the know bailout as usual before reality creeps back in.

Might even crossed their minds when they are trying to figure out how to pay that £1.4m CLN in April!!

[headinthesand] 23/8/2021 18:46

UJ9, if this gets to seven tenths of a penny, if I were you, I'd wait for 0.6, which would be sure to follow on soon afterwards.

(And so on... and so on).

[ultimatejustice9] 23/8/2021 18:31

I want my 0.7 entry. Hurry up and de-ramp it peeps

[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?