Angus Energy Share Discussion Threads

[goforgold1] 31/10/2021 17:49

Does look like your getting in near bottom . If your willing to hold for say 3 months could be a good reward for investors . IMHO

[goforgold1] 31/10/2021 17:47

Interesting share this fully funded . To production . Revenues have risen as well . They have institutions involved as well which is good . Raised money at .6p as well . I need to find out exactly how many warrants they have given out . In summary the Report estimates production giving rise to gross field revenues, before costs etc on a mid-case basis of GBP230 million (previously GBP141 million) of which Angus's share is 51%. This approximates to a gas price of 64p/therm being a mix of the actual volumes already hedged at 43p/therm and the remaining unhedged volumes accorded prices derived from the quoted and traded NBP forward curve to December 2026 and thereafter escalated by 1.5% per annum. The gross volume of reported Gas Reserves is unchanged.

[goforgold1] 31/10/2021 17:09

A lot of warrants exercisable at 1.2p 7.5 million Further Equity PlacingAngus is pleased to announce that WH Ireland Limited has, further to the Placing announced on 27 January 2021 and to satisfy additional demand, conditionally placed on behalf of the Company a further 15,000,000 new ordinary shares in the Company (the "Further Placing Shares") at a price of 1 pence per share to raise gross proceeds of GBP150,000 (the "Placing"). The Further Placing Shares were also accompanied by the issue of one warrant to subscribe for one ordinary share in the Company for each Further Placing Share (the "Further Placing Warrants"). When issued, the Further Placing Warrants will be exercisable at any time, for a period of 2 years, from the date of admission of the Further Placing Shares at the following exercise prices: 50% at 1.2p; 25% at 1.35p and 25% at 1.5p

[jtidsbadly] 30/10/2021 23:39

Poor Cudswallop’s getting a bit of a mauling on the other site.

[jtidsbadly] 29/10/2021 20:10

1347: the royalty is forecast to give them a much higher return, and for longer, than the interest payments. The accelerated repayment provisions, assuming they gas flows as predicted in the new CPR and the price is as forecast, ensure that the loan is, in effect, repaid after the first year. It seems usurious. All this for the use of the Lenders’ money for one year! One can only assume no one else was remotely interested. I don’t think any of us expects the returns to the Lenders to be anything like those predicted in the CPR though.

[jtidsbadly] 29/10/2021 19:04

1347: that’s AIM for you, what? Find something vaguely plausible which the PR people, NoMads etc. can puff to unwitting small investors in their greedy, gullible droves and you’re all quids in. A 1-2% chance of striking it big, but a virtually guaranteed nice living wage for doing not very much for years and years. You can see hints of it in those small smirks that creep across their faces during so many of those PR interviews. Keep the small investors interested with shills etc. recording their belief in “averaging down”, “topping up” “you haven’t got a loss until you sell it”. They lap it up and repeat it back on the chat boards. It’s the dodgiest market I’ve come across and I had some interests in the Perth market some years ago (I’d have seen Mr. Lenigas coming). Should these small investors be protected from themselves? Or is the Darwinian process to continue unmolested? I think clear untruths, promises made that will never be kept, dodgy accounting, insider deals, favours for friends etc. should be exposed and prosecuted. Examples should be made of some of the most egregious offenders.

[3put] 29/10/2021 18:55

Expensive winter coming

[3put] 29/10/2021 18:54

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[jtidsbadly] 29/10/2021 18:47

1347: I’ve had a closer look at the cash flow tables, after reading your post. The repayment figures relate to their forecasts of revenues and profits, and the accelerated loan repayments which are now clearly a feature of the loan. So if revenues are much lower than forecast, which seems highly likely, those loan repayments will be much smaller in 2022. Anguish will still presumably be required to repay about 28.5% of the capital and 12% interest, though the royalty won’t apply in 2022. Those royalty payments are big, aren’t they? The loan will be repaid in 42 months but the royalties carry on at a higher rate than the interest on the repaid loan, for years! To say Anguish were over a barrel is an understatement. In view of how apparently usurious these loan terms are, it’s absolutely not credible that the big bank which the Interim MD said would have lent them the money if Anguish had needed $20mm+ would in truth have done so with this asset as security. I think he’d have got the bum’s rush. No wonder he’s trying to sue Gneiss! They seemed to offer the prospect of a loan on affordable terms.

[1347] 29/10/2021 18:34

JT The parrallels are quite close, except one is a miner and the other an oiler.

Old asset once owned by a Russian company
Inexperienced MD not that well acquainted with the actualité
Claims made about the time and cost to get the mine/field back in production
Repeated delays, cost overruns and problems occur
End up taking out large debt secured on the assets
Mercuria involved in the loan and offtake agreement
Zero revenue for a significant period resulting in repeated 'keep the lights on' placings to survive
Even when back in production struggle to produce enough to generate sufficient free cash and service the debt
To be continued.....

[jtidsbadly] 29/10/2021 18:07

Hits: that’s if they get that far. With lower prices, they’ll need to get the existing wells producing early and in good volume, to enable them to meet the loan terms.

[headinthesand] 29/10/2021 17:46

It's good news that the gas prices are falling, courtesy of Vlad the Impaler. It means that ANGS will be in less of a hole if they fall short against the hedged commitments.

[jtidsbadly] 29/10/2021 17:18

1347: even more typical of AIM than I thought then. Investors’ dreams shattered. I should have known there was less to Vast than met the eye.

JA51: I can’t make head nor tail of the Cindrigo deal. I suppose it was the only option on the table, rather like the Anguish Loan. I have noted the demise of the Dallas Ferris wheels. Sad. I hope Jonathan found a way of getting out intact - though I should imagine Mr. Manclark must be sick of the sight of him. He could always set an elephant polo expert on him. I think any hope of a Mablethorpe wheel, or an extension at Theddlethorpe so people could view the famous Poundland site (that someone bought for £1) has gone. Sic transit..

[chickbait] 29/10/2021 16:34

I thing the gas prices are coming down as Russia are supplying more gas to Europe.

[ja51oiler] 29/10/2021 15:42

1347 That's true of course but still a significant discount to the published figures non the less. Speaking of Ferris wheels. let's hope for Mr. Manclarks's sake (if it all goes wrong) they don't stuff the CLN providers as The newly re-named Challenger acquisitions seem to have done! I wonder if JTP's £40k is included in that ?

[1347] 29/10/2021 15:18

JA51 - Yes but they hardly re-publish it on daily or weekly basis can they? They did a snapshot at the time, that's the best they could do. Anyway I can easily adjust my model for different prices, so it doesn't bother me anywhere near as much as what's in the RNS announcements, or not, as the case may be and whether they can put a ferris wheel on that rig in time for the summer season.

[ja51oiler] 29/10/2021 14:46

That CPR is looking a bit out of date already!

Gas prices are tumbling again today.

1.02 summer 22
1.07 winter 22

Didn't the CPR give a figure of 1.50.35 for 2022?

[1347] 29/10/2021 14:05

JT I don't have enough detail to know where the top of the rig is coming from, maybe it's a special design, one that they can fit a ferris wheeel to and make a bit extra that way?

Yes the loan is surprising, 4 year loan but not from when finally agreed. I haven't gone through the new CPR in detail but I find the cash flow forecasts quite confusing. They show £9.6 m drawdown in 2021, then £9m repaid in 2022 (not £9.6), nothing in 2023 then £100k in 2024. Very odd.

Don't be fooled by the Vast share price there was a 100 to 1 consolidation earlier in the year, last placing was at 25% of the consolidated price. Vast is one of my 3 'dog' shares that I mistakenly bought early on in my AIM career, the others being Anguish(obviously) and UKOG (also obviously). All 3 should be investigated by the FCA in my opinion.

HITS Not sure why you bother engaging with those who clearly have little to no idea about investing or reading accounts and probably not much else either. It's up to you of course but I do idly wonder if it's related in any way to your inability to distinguish musical genres and your Fords from your Floyds?

[sincero1] 29/10/2021 13:44

i'm off for another well earned weekend.... i expect another evening and weekend of negative supposition posted by the resident dads army of grey old disingenuous window lickers.... ja51contractvoidoiler and uclot will reappear no doubt ...as they think it will be safe to do so without facing the inevitable ridicule ....i will have a look on monday morning... don't disappoint me ...

[sincero1] 29/10/2021 13:40

13reallyneedsahobbycptmainwaring from the vast page "Hate to say it but I now think it's very likely that existing shareholders may well lose the lot here, that includes me by the way." So to be clear that is vast and angs where you are underwater ...as you have previously stated you have the right to post where invested ...i imagine the same therefore at gemd, bmn, avct etc .... that would explain all the negative supposition on every post on every board ... for a pompous self proclaimed know it all you are not very good at this share dealing stuff eh ?

[jtidsbadly] 29/10/2021 12:59

HITS: he’s hopeless and claims anyway to have a large stake in this.

They’ll have to drill that sidetrack at some stage. Even if they don’t need to do a well test and it all goes according to schedule, that’s two months when it’s unlikely they'll be able to continue pumping gas. They may need the goodwill of the Lenders.

Re gas flow, it was lower in the final months of Wingas’s operating it because of valve problems at Theddlethorpe, wasn't it? And don’t newly re-opened wells often experience higher gas flows, resulting from a temporary pressure build-up? So it’s possible that the two existing wells may meet the target production for the first few months. I think they may just go for it with the two wells and sideline the sidetrack for a while.