Angus Energy Share Discussion Threads

[ja51oiler] 09/10/2021 13:25

Time to give up... you've been rumbled guys and girls at Whocares/Cudd towers....Give it up and start again with new user names and MO!

Ignoring the embarrassing expose of your mistake and putting the illiterate one back on reply duty isn't doing your cause any good!

[jtidsbadly] 09/10/2021 13:11

Whocares765: yes, that’s all they've announced. They must have very large sums owing to equipment suppliers against delivery and the sidetrack cost is coming out of the loan proceeds. There’s been no progress report on that, has there? I doubt they've drawn the money for it. If Mercuria finds itself strapped for cash, it’s going to be a problem.

[jtidsbadly] 09/10/2021 13:03

...and I hope Anguish have drawn the whole loan and have the money in their hot little hands. If they haven’t, and Mercuria are in trouble, things could get awkward quite quickly, what?

[jtidsbadly] 09/10/2021 12:57

JA51: Ocelot appears to be a bit shaken though, doesn't she? There’s panic somewhere.

The article attached by Oktane concentrates on Gunvor. I take Nomlungu’s point about the reliability of the source of the information but if it’s true - and the article suggests that Mercuria may be in similar trouble - there’s going to be a debacle in the natural gas area of the futures markets! I wonder how the new boys on the block are doing? They may be wishing soon they were back in Scout Lane.

[ja51oiler] 09/10/2021 12:48

JT
I think the fact that they haven't replied within 30 seconds confirms what I say.

He/they were getting caught out on the other side and it was pretty obvious looking back!

This EGM reminds me of when Yanis (the top-up king) was vocal for legal action to be taken after the Brockam debacle.

He at least is slightly better at the swing trading,,, well at least he is polite anyway. Painfully obvious when he's in or out depending on his Twitter feed pushing like mad, and claiming yet another top-up, or the doom and gloom when he quite obviously has sold out again.

Again James2. 2.9% claimed ownership of the company?? Again more top-ups than George Best, yet posts of talking to his Lawyers, and now Is all for this orchestrated BS EGM....id total balls isn't it!

[jtidsbadly] 09/10/2021 12:44

Wolfofthewoods: they may as well make it a good one, what? No stinting. Do you know what happens to the charges/hedges if Mercuria were to go bust? Presumably they go to the creditor banks? Not an enticing prospect for shareholders, what? I mean to say.

The plot has thickened a lot since yesterday..

[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?