Angus Energy Share Discussion Threads

[jtidsbadly] 09/10/2021 12:27

Oktane’s post on the other site is worth a read, and the attachment. It seems Mercuria have been caught out by the recent rise in gas prices!

[wolfofthewoods] 09/10/2021 12:24

The main thing is they have money, which is important. Xmas party coming up.

[jtidsbadly] 09/10/2021 12:19

JA51: yes, that was a bit odd, wasn’t it? It didn't read in the same way as any of the preceding ones, what? The fact is, if the asset is not providing cash flow to pay off the £1.45mm which they may need to pay Knowe in April and the £4.4mm. which they need to pay the Lenders in early June, the Lenders can enforce the terms of the charges. There are charges on SEL’s assets as well as on Anguish’s. Pawnbrokers set a date after which an asset cannot be redeemed. I should think that Anguish won’t be top of their suppliers’ priority list for early delivery, either - they’re unlikely to be a repeat customer. There’s little the Interim MD can do about it. Very high gas prices are not necessarily good for Anguish.

[ja51oiler] 09/10/2021 11:38

You really must think people are thick You Conman/Men!
You have just got caught talking to yourself there!..... Should have replied as 3put shouldn't you!

It's pretty obvious as your posts range from barely making sense to being almost articulate!

Put a big sticker on the top of each burner phone you're using at least!
One for every ID you have. You will need a lot of tape.

Lots of swing traders trying to con people on these BB but your little gang is pretty poor at it!

[jtidsbadly] 09/10/2021 11:12

Whocares765: I understand all that and I sympathise. But how would new management improve things at this late stage? The sidetrack issue is an equation that includes regulatory permission, prevailing gas prices, plant availability and the usual risks of success/failure. The answer will be a logical one, and you’d expect any management to recognise the logic of it, even the current lot. The assets are all pawned, the hedges have to be met, whoever runs the company. If they’re short of £5mm+ in June next year, would shareholders stump up for it? Would someone else make a bid, with the hedges continuing to apply for at least two years more, and production expected to fall quite sharply from three years out? And do the Lenders want the asset?

[whocares765] 09/10/2021 10:27

Now is enough is enoughThe EA APPLICATION was way too late in the day, should've been out to consultation in June not September, lack of cash in the back, Convertible Loan Notes of £1.4m due in April 2022, chasing rainbows for geothermal and delays to FIRST GAS means there's only the 3 things CQ said that is needed as a first stepWhen there's no trust there's no way forward for shareholders.

[jtidsbadly] 09/10/2021 09:51

whocares765: what will you do if you achieve an EGM but the management receives the support of most shareholders? The thing is, all of Anguish’s assets are in hock and there are hedge contracts in place from July, the terms of which will have to be met. I don’t think there’s any value in it to its current shareholders, unless the sidetrack is drilled in time and is a huge success. At the moment, it’s looking as if it may be late. At what point will you say “Enough’s enough”?

[whocares765] 09/10/2021 09:43

Jti an insider?

[jtidsbadly] 09/10/2021 09:37

I see Ocelot has posted “no comment”! How odd. If you’re not commenting, don’t comment, innit?

[jtidsbadly] 09/10/2021 09:25

1347: that’s a bit subversive..

Re the recent ramp/fall, yes, I think it’s quite similar in type to, though much less effectual than, the one that got Rupert out. I have no idea who buys the shares near the top on these ramps. Maybe it’s as simple as mug punters believing all the bs of the shills etc.

I think Anguish exemplifies some of the questionable practices that appear to prevail on AIM. If it is no longer listed this time next year, I think it may be made an example of in the interest of better regulation and more responsible stock market practice. This is one of the reasons I continue to take an interest in it.

Whocares765: I must say, I’m still a bit shell-shocked by the recent reversal in your opinion of Anguish and its management - and of Lidsey, Brockham and geothermal. Good luck with the EGM. Let us know when you’ve got the 5%. It is 5% you need, isn’t it? Bionicdog suggested it’s 10%. He may be better informed than I am.

[1347] 09/10/2021 07:58

JT You make some valid points though I do wish you'd stop sticking up for them in such a fawning and supplicating manner with all this Lordship stuff.

Anyway if those in possession of 'equity kickback' shares were selling then why would the price rise as it did recently, the share price would normally tend to go down in any significant selling would it not?

Could that possibly suggest a degree of connivance between the parties involved and Brokers and/or MMs do you think as I seem to remember a similar pattern when Labrum escaped his lobster pot? It's a shame there is no effective regulation of the market, a close look at the trading records would soon expose anything underhand wouldn't it?

[jtidsbadly] 08/10/2021 23:55

Incidentally, couldn’t the ramp and subsequent selling this week be the Lenders cashing out the shares they got in May/June? The implied price of those shares was .945p, as I understand it. If it was their selling this week, they’ll have made a small profit, and got rid of their investment in the equity of a company whose prospects probably don’t look too good to them.

[jtidsbadly] 08/10/2021 23:37

CQ: I’m not so sure about JTP. He’s not actually a non-executive director, he is a non-board director. He’s supposed to have executive responsibilities for business development. I don’t see him as a sort of Machiavelli. I think they’re all just a little bit incompetent and lacking experience at this level and in this industry.

I completely agree about the need to concentrate all their attention on Poundland. I’m not sure you’ll be able to get His Lordship to abandon his geothermal ambitions though.

It does seem as if the timetable is slipping. I’ve been back over some of the announcements over the past year (and it looks as if the lenders are on the other side of the futures contracts). They were committed earlier this year to an early sidetrack - before they started building the plant. That’s all gone a bit quiet. They were also predicting first gas at the end of this year. It’s March now, isn’t it?

I really think this whole situation may be irremediable. But I wish Cudswallop and Jamesll good fortune in their endeavours with an EGM. It might at least shake them up a bit and show them that people are watching.

[clottedq] 08/10/2021 22:25

WhoCares,

I don't know what JTP is up to these days... although he's still paid a generous salary as a non exec director for it... whatever "IT" is?

The fact that he organised the coup to put Lucan in office originally - would lead anyone to assume that some back-room deal was done to keep him out of the limelight for a period until his "Captain America" Share Fiasco was all swept under the carpet.

I half expect him to come back into prominence on the BOD again when the time is right... but progress has faltered yet again and shareholders are still very bitter towards him. By very publicly getting even with Paul Vonk - he cost long term investors here, dearly and I doubt they will easily forgive or forget!

Personally, it wouldn't surprise me at all if he were loaning out his shares and shorting Angus. It happened here before... despite his false denials... so it could just as easily be happening here again IMHO.

The real issue with Jonathan Tidswell is one of TRUST. He let down shareholders badly with his dishonest share dealing... and again by staging the costly coup against Vonk. And yet he's still a paid non exec director and close associate of the current CEO (who has no previous oil or gas experience and who was supposed to be merely a temporary post!?!)

Rightly or wrongly... many LTH's still smell a rat here... and that further destroys investor trust IMHO.

Three things George Lucan could do to restore some of that damaged trust:

1) Apologise for his recent outburst against eagle-eyed posters here who were simply highlighting inaccuracies in management statements. They should be listened to and management should learn lessons and promise to improve the accuracy of their communication in future as a direct result.

2) Jonathan Tidswell should be removed from post and distanced from this company and any further projects to draw a line under the past once and for all.

3) George Lucan should take a lead and make an immediate substantial investment in Angus from his own salary - as should "all" board directors to align fully with their shareholders. It continues to be difficult to believe the company rhetoric when the directors themselves refuse to lead by example!

CQ ;-)

[3put] 08/10/2021 21:31

Another day closer to first gas