Angus Energy Share Discussion Threads

[sincero1] 21/10/2021 08:46

i see the resident old grey window lickers are in full supposition mode to try and be as negative as possible....mendacious, disingenuous, duplicitous...

agian uclot best you google those long words..... I still await your apology for your ignorant, abhorrent post....you cretin

[gaffer73] 21/10/2021 07:58

George Lucan, CEO, comments: "This extension strengthens the Company's medium term capital base and in particular will relieve the Company of a possible cash outlflow in the early months of production at Saltfleetby and will be greatly beneficial to all shareholders." That suggests they will be producing early next year imo.

[1347] 21/10/2021 07:47

HITS No it's not positive, Anguish have had to pay the equivalent of £110 k to push back conversion by 3 months as they wouldn't have been able to repay the loan (plus interest) by April next.

For Knowe it was the lesser of two evils, get a shed load of confetti next April or wait a bit longer on the basis that Anguish should be able to pay at least some of it in cash by July onwards.

At the end of the day it's another salami slice off whatever value there is in Poundland to the detriment of exsting shareholders, excluding Knowe.

[headinthesand] 20/10/2021 23:24

PS I can categorically state that I have not been in the least tempted to stick even the smallest toe back in the ANGS lobsterpot.

[headinthesand] 20/10/2021 23:21

JTids...

"HITS: I think, with respect, that you may be missing the point a bit re the deferral of the repayment of the Knowe loan. It seems to me that Anguish don’t think they’ll have the means to re-pay it this coming April. Knowe won’t get the full £1.4mm out if Anguish goes into liquidation in April...

I don’t think the loan was ever going to be converted to shares, much as Anguish might have liked it to be."

I think it's you who have missed the point, JTids. Of course ANGS must know they wouldn't have had the cash to repay the £1.4 million (NB by Feb next year, not Apr). But that's not the point.

According to the CLN terms (as per the Apr 2020 RNS), it was effectively entirely ANGS's choice whether they repaid some or part of it early (by Feb 20th next year) or let it run, to be converted into 140 million shares at 1.0p on Apr 20th next year (or possibly 155 million shares at 0.9p). It was never Knowe's call on this.

The more interesting question remains: why did Knowe (who clearly had to agree to the extension) believe it to be more beneficial to them to get an extra year's interest (£56k) and 11 million odd free shares, rather than simply getting 140 million shares next April at 1.0p? (Or 155 million shares at 0.9p, if they didn't agree to the Sep 20 placing in writing)?

It does make one ask oneself, if Knowe is so confident in ANGS's future prospects (and thus in a substantially increased share price over today's levels), why would it effectively turn down the guarantee of getting 140 million shares at 1.0p in just six months' time?

Of course one answer may be that they have just been given approx £110k's worth of shares (using today's share price as a valuation) for absolutely free, in exchange just for what seems to all intents and purposes to be a mere three month extension (because from the way I read today's RNS, Knowe can start converting from July next year, if it wishes).

Separately, those 11.2 million free shares Knowe's getting immediately... anyone else reckon that the noticeably increased ramping attempts and all the "new" uber-positive IDs over the last couple of weeks have been to create an environment for Knowe to forward sell these more profitably into? It would explain a lot about the more recent frenetic BB activity...

[3put] 20/10/2021 21:39

1347 - please never buy in

[3put] 20/10/2021 21:37

HITS 'the deferment of the CLN is definitely and without a doubt a positive thing' -----I'm not enjoying this new hits. I want the old one back

[3put] 20/10/2021 21:33

Pink Floyd , leave them out. Have some respect

[3put] 20/10/2021 21:31

Unfortunately I think HITS has bought back in

[1347] 20/10/2021 21:30

CQ It took you far too long to work that one out. HITS is still working on it though, but he mixes things up anyway, like Pink Floyd and Tennessee Ernie Ford.

JT I don't see the lenders wanting to take control of a clapped out gas field and processing plant, if they did I'd expect they'd flip it to someone else who knew what they were doing. Not sure what other value there might be here, I don't see anything else.

My view is that the company may well be taken private when they no longer need to raise funds from the London Laundromat, though who'll be the marjor shareholders then is still an open question.

[jtidsbadly] 20/10/2021 21:08

1347: if I were the Lenders, I’d prefer to dispense with the services, and salaries, perquisites etc. of this lot and take not just the margin on the hedges, but the whole lot. Who knows, they may see a future in gas/hydrogen storage?

I agree about the investment case, or absence of one, and with your view on the importance of integrity and openness on the part of the managements of quoted companies.

[clottedq] 20/10/2021 20:48

1347,

Agreed... quality & integrity of management are critical when choosing an investment - especially on AIM!

The machinations that have gone on here over the years would challenge the best fiction writers. The Weald "Story" on it's own would be worthy of a film script - or perhaps a government safety film entitled:

"Red flags for new investors to look out for on AIM!"

CQ ;-)

p.s: Listened to good advice and just added (IN)Sincerio to the filter bin. Since he loves the sound of his own voice, let the curmudgeonly old fart talk to himself from now on. Pah! HumBug!

"Cheerio!"

CQ ;-)

[jtidsbadly] 20/10/2021 20:24

1347: I’d overlooked that. Box ticked, then.

[1347] 20/10/2021 20:17

JT PS Aleph were appointed as logistics experts weren't they and have contacts in the USA, remember Jason K Joannou was registered there in Coral Springs, Fort Lauderdale, FL (nice part of the world by the way). I'm sure they'll speed it all up.

[jtidsbadly] 20/10/2021 20:00

And re shipping lanes, this is from an Internet site on sea freight from the US to the UK:

“How long does it take to ship from the USA to the UK?
As a general rule however, it usually takes: 40-50 days on the water. Door to door delivery will often take 9 weeks. If you’re importing from the USA, the difference in transit time can be stark. Depending on which coast you’re shipping from, the on the water transit time can double!”

If it were to take as long as nine weeks, that would be the second week in the new year, wouldn’t it? Goods shipped from New York take half as long on the ocean as from Chicago, but it’s the port handling and deconsolidation of cargoes that can take time (those two blue compressors won’t justify a whole container, will they? A couple of pallets in a shared container, more like). Then Anguish will have to find a lorry. It’s a reasonably complicated logistical job. Has Anguish got anyone with logistics expertise or experience?

Why haven’t they started the sidetrack, if the timescales are anything like this?

[jtidsbadly] 20/10/2021 19:03

1347: if we find soon that the Lenders are prepared to let Anguish off the hook and put back the first interest/capital repayment, perhaps this will turn out to be a reasonable investment. I don’t think they’ll do it. They’re not relationship bankers and they must have a number of better people in-house than the present Board to take it over next August, if Anguish then owes them £5.8mm. and can’t meet the hedge commitments.

[jtidsbadly] 20/10/2021 18:50

HITS: I think, with respect, that you may be missing the point a bit re the deferral of the repayment of the Knowe loan. It seems to me that Anguish don’t think they’ll have the means to re-pay it this coming April. Knowe won’t get the full £1.4mm out if Anguish goes into liquidation in April so they’re doing what the Interim MD is doing - hoping that something will come up, between then and April 2023. Probably hoping the sidetrack will find lots of gas and enable them to meet the hedge terms. The £11.2mm shares are a sop and they may well have sold those already. I don’t think the loan was ever going to be converted to shares, much as Anguish might have liked it to be.

[1347] 20/10/2021 18:47

JT Yes the repayment date is pushed back but do you think Knowe will wait another year when they can start converting in July 2022? I don't. They get £110,000 worth of extra shares for just waiting another 3 months and the interest will also be accumulating.

I doubt they have sold these shares yet as that would be illegal foward selling and unlike anonymous (to us) placees readily identifiable. However since the shares are fugible they could be selling the ones they already have and just replace them on the 5th November. As the new shares are over 1% they'll cross the 7% threshold unless they sell so we'll find out in a few weeks won't we when we get a TR-1, or not as the case may be.

Incidentally waiting 14 days before share admission is odd isn't it, normally it's a few days, it suggests they have something else up their sleeve beforehand, I wonder what that could be? Push back of the £12 m loan with similar kickbacks or a placing to fund the Christmas port and wine bill maybe?

Yes I expect more delay, I pencilled in May 2022 for first gas a while back, just in time for the Summer prices, but I wouldn't bet the house on that being met.

[sincero1] 20/10/2021 18:04

clickbait..remember i won't t engage with you due to your poor mental health ...clearly you are still struggling..I hope you get better soon.

[chickbait] 20/10/2021 18:02

Sincero1. That's a late post from you. Are you getting paid overtime now?

[sincero1] 20/10/2021 18:01

jtisadly "this Sincero hasnt offered an opinion i can remember " Yes i have , stop being mendacious.

jtisadly "ve filtered him for months.." No you haven't..stop being duplicitous ....

Note for uclot...sorry for using a couple of big words..Google them...

[sincero1] 20/10/2021 17:56

uclot- still being evasive i see ....always when embarrassed...he is ...lets talk about something else....you are struggling again i know , so here is the apology ..just copy and paste " Sincero1 please accept my apologies for my abhorrent and ignorant post, i foolishly tried to think for myself. i won't do it again.i will wait to be told what to think and say as usual "