Angus Energy Share Discussion Threads

[jtidsbadly] 17/10/2021 17:22

CQ: the Lenders may take the same view. If His Lordship fails to generate enough cash to meet his commitments next June, the Mercuria CEO’s son’s hamster could get the opportunity. Meet the new boss...

[clottedq] 17/10/2021 16:44

1347...

No sign of a rig as far as I'm aware & no update from the BOD either = Good old Anguish up to their usual tricks...

I would have far more confidence of actual delivery to deadline here, if we made my son's pet hamster CEO!

CQ ;-)

[1347] 17/10/2021 14:17

2nd August 2021:

Target mobilisation of rig is slated for first week in October. Should suppliers indicate potential delays, whether Covid-19 related or otherwise, the Board will consider a deferral of the side track until end of March 2022 if those delays would in any way cause consequent delay to commissioning of the process plant. This would be to ensure that Angus and partners benefit from the very tight pricing environment indicated by UK National Balancing Point forward gas prices for January, February and March 2022. The Board will advise in due course should this become the case.

11th August 2021:

Tendering for the side track is complete and bids are presently being evaluated.

17th October 2021:

???

[bionicdog] 17/10/2021 10:43

Bit quieter this weekend than last.

[clottedq] 16/10/2021 17:40

Well my "one week" estimate was out by about 6 days... looks like CouldA's already starting to foam at the mouth and across his keyboard over on the B Channel...

The poor lad just can't help himself... he's clearly obsessed and in need of a decent hobby... or a girlfriend... or preferably both!

CQ ;-)

[headinthesand] 16/10/2021 16:21

I think this latest iteration of the Cuddles' Kansas ID is currently being manned by someone a little less linguistically challenged than the usual moron - though its true colours are definitely already starting to show through (the poor lamb just can't help itself).

So it won't be long before we have a full incoherent, swivel-eyed and mouth-foaming meltdown.

I'm prepared to wager a whole five pounds sterling that the current intern manning the weekend boiler room keyboard shift is none other than the not at all missed UniversalJustice9, resurrected for the umpteenth time next door. It's a recognisable tone thing...

[jtidsbadly] 16/10/2021 14:51

A rather dim post from Crocqman on the other site.

Meanwhile, Cudswallop appears to have breached my copyright with his latest Twitter cut and paste.. I’m not sure why he’s done it, it seems to me part of a well argued post, what?

[3put] 15/10/2021 19:43

Should see a steady rise as first gas gets closer. Tick tock

[clottedq] 15/10/2021 18:25

Loving the NEW "considerate" tone of EchDelta (WhoCares aka CouldA aka Foth) over on the B Channel... obviously hoping not to get rumbled too quickly - before his post tally gets into the hundreds (AGAIN!)

No problem... as he'll lose his head (like he always does) and then everybody will recognise his all too familiar manic ramblings again... don't worry.

Let's see how long it takes... I give him a week! He might even beat the next placing?

CQ ;-)

[jtidsbadly] 15/10/2021 15:22

HITS: I’ve said on a few occasions that this will prove a successful investment if they can supply gas to Shell next February or even March, at the rates forecast in the CPR and within budget. If they can also drill a successful sidetrack promptly, and if gas prices remain high, they may do very well.

The timescale is already dragging out. They were supposed to be doing the Poundland groundworks two months ago. We’ve heard nothing about this. Equipment is supposed to be delivered this month. Nothing so far. EA and HSE permissions are still outstanding. There’s been no news on a sidetrack and they’ve changed the plans for this, including the abandonment of their plan, as committed to in their planning application, for a well test. They’ve softened up the market already with statements to the effect that demand for gas well equipment has picked up strongly with the huge rise in gas prices. Deliveries will not be helped by the current supply chain difficulties

They will owe lenders about £5.9mm. by next June. Their assets are in the hands of a third party, against their meeting the terms of their loans. In July, the hedges take effect. This is a management which has never met a single one of its own deadlines or budgets and which has given its shareholders a number of unpleasant surprises on both fronts.

These are not disingenuous, or even negative, comments. They are statements of fact. I’ll be happy to debate them with anyone. I don’t want the share price to go down. I don’t, however, share the view of bulls of the company that this management will have achieved enough cash flow at Poundland to pay the company’s debts by the time the money has to be paid to the Lenders. Whether the Lenders will then enforce their rights or give this lot more time to get to real profitability is a moot point.

[1347] 15/10/2021 14:50

Isn't it more like this?

While {drawing salary}
Then kick can
Loop

[sincero1] 15/10/2021 14:31

hits - i'm always fair .... but we all know what disingenuous jtisdaly meant..he just can't help himself .... the negativity is consuming him .
i wish you a good weekend, i'm off to enjoy mine.


remember old grey window lickers ... truth is the best defence...

[headinthesand] 15/10/2021 14:14

To be fair, Sincero, the whole point about any conditional is that it must by default have at least two states, or in simplest terms a yes and a no (if it's a binary option).

This means that for every "if", there must be at least one related "if not".

That's not just linguistics,it's just basic logic.

Even Excel understands this - see below:-

IF conditional
=IF(Something is True, Value if True, Value if False)

...or to put it otherwise, if something is true, then do something, OTHERWISE do something else)

And then you've got other options:-

IF with NOT conditional
NOT =IF(NOT(Something is True), Value if True, Value if False)

IF with AND conditional
AND =IF(AND(Something is True, Something else is True), Value if True, Value if False)

IF with OR conditional
OR =IF(OR(Something is True, Something else is True), Value if True, Value if False)

[sincero1] 15/10/2021 13:10

predictably the disingenuous jtisadly is not satisfied with "if " he needs to add "nots" to really drive home the negativity ...... totally mendacious and ignorant ....

[jtidsbadly] 15/10/2021 11:57

He’s right about that, though. It’s not all about “ifs”. There’s quite a few “if nots”.

[sincero1] 15/10/2021 11:51

hits "FFS " - now now, from a linguist too... i would expect better ...swearing is language poverty isn't it ?
i agree there are some ifs ...but its not all ifs ... it is all ifs if you listen to resident grey window lickers that clearly are disingenuous ..

[headinthesand] 15/10/2021 11:17

Sincero... "hits "if they miss out on the volumes committed to under the hedge," If if if ..... you keep falling into the trap of negativity"

Oh come on now. You must know that ANGS remains all about if's... FFS, they've been literally zero revenue for 18 months and counting now.

You must also know that this is by no means a nailed-on opportunity and it's only the ramptastic idiots that would ever claim it is. Yes, ANGS may succeed and it may even do quite nicely...

...BUT that is ENTIRELY CONDITIONAL UPON (there's a overweeningly justifiable "if" for you) it managing to produce enough out of Poundland to meet its already incurred obligations, both running cost, debt financing and hedge related.

To pretend any different is to be spouting utter BS. And to avoid mentioning the glaring conditionals is to be disingenuous.

[jtidsbadly] 15/10/2021 11:11

JA51: well, there is no reason why the company shouldn’t answer simple questions on the matter of the hedges. How much gas is covered by the hedges, in therms per month, please? It’s simple enough. And there’s no commercial confidentiality issue to justify their refusal to do so.

[sincero1] 15/10/2021 11:09

ja51"contractvoid"oiler "What it does is give an explanation as to how they think the lenders came to their figures" well done you finally got something right ... Hallelujah, gold star for you ... keep it up, keep reaching for that rainbow .

jtisadly - still can't find the "ignorant " or " mendacious " comments in my post i see ... as they weren't there were they ....you just made it up ... you were being mendacious ... and ignorant ... fool.

[ja51oiler] 15/10/2021 10:57

JT
I can see it can be read like that yes. It's a get-out-of-jail-free card, isn't it?

Quite easy to just say the hedge only applies to the Existing wells. End of conversation but they didn't. What happens if they turn them back on and only one produces for example?

I read it as its future gas sales. It doesn't actually say the sidetrack is unhedged. What it does is give an explanation as to how they think the lenders came to their figures!

It says “approximately 70% of the Company’s future gas sales …. under a conservative projection” and this was prudently set by the lenders, based, as we understand it, on their own estimates of achievable flow from the existing wells and excluding the contribution from the sidetrack. "

[jtidsbadly] 15/10/2021 10:54

JA51: I’ve done the same thing. It’s not edifying, is it? All I’ll say in response is that I stand by every item he has quoted, other than the share price ones! I failed to make allowance for manipulation of share prices in AIM companies and for the dogged determination of many AIM investors not to realise a loss. And in some cases, for their bravado and enthusiasm for “averaging down”. They’ll have even more scope for this soon, I expect. Who knows, though?

[sincero1] 15/10/2021 10:53

jtisadly " assuming" "probably" "if anguish fail" - "It’s highly misleading to characterise my entirely genuine concerns as part of a “negative agenda” it’s nothing of the sort."

ja51"contractvoid"oiler -"replying to my question with a counterpoint" I did , you are just to stupid to understand because of your ignorant negative agenda .

i will however agree with you on one point "A proper explanation properly worded on all details of the hedge " this would slap jtisadly in the old grey mutton chops again no doubt ...

[jtidsbadly] 15/10/2021 10:37

JA51: I read the answer you’ve quoted to the sidetrack question as saying specifically that any production from a sidetrack is unhedged. So, assuming they meet the required volume from the existing wells by the required date, anything they were to get from a sidetrack could be sold at the prevailing market price.

However, it seems equally clear that the Lenders have made an assumption, probably based on Anguish’s own figures as used in the CPR, of gas production by end-June and applied that to the hedge contracts. If Anguish fail to produce enough gas (from both existing wells and sidetrack, if any) to meet the terms of the contracts, those contracts cease to be hedges and become uncovered financial speculations in the commodity markets.