Angus Energy Share Discussion Threads

[jtidsbadly] 26/11/2021 11:23

CQ: a ruffled butterfingers smacks of 3somes.

HITS: yes, I agree. But it’s equally important to point out the real-world implications of a five-month slippage in the original schedule, on which the forecast of first gas at or around year-end was made, isn’t it? Those multiple local contractors are going to have to form a very orderly queue if they’re to make up part of the lost time, aren't they? Then there’s the sidetrack.

[sincero1] 26/11/2021 11:11

jtisadly - ..wake up smell the coffee.....you're embarrassed at being caught out again i know, we all know ... you have nothing but supposition ...

uclot...please try and think for yourself.... its pathetic and your posts are embarrassing ... another placing prediction ? that's almost as many as jtisadly has predicted

[headinthesand] 26/11/2021 11:11

JTids, you're right to point out those schedules that ANGS has already had to revise several times (e.g. Poundland groundworks and equipment arrival).

Now okay, schedules slip - and ANGS can quite justifiably be accused of repeated naive optimism (at best). But provided that they update those paying their salaries in a timely manner as those schedules slip, I have less of an issue. Still a major issue with competence, but less of one overall.

What is unforgivable is when ANGS trumpets a schedule, then watches it slip by... and says nothing. That for at least the last month has been the case with both Poundland groundworks and Poundland equipment arrival. And that borders on pure deception.

[clottedq] 26/11/2021 10:58

JT,

Please... don't aggravate Jonny... he doesn't know his left from his right as it is... we don't want a ruffled butterfingers anywhere near our last chance saloon asset now do we?

CQ ;-)

[gaffer73] 26/11/2021 10:58

Have you not see the market's this morning?

[clottedq] 26/11/2021 10:56

Today... another slow walk down the cemetery path by the MM's.

I'm pretty sure they know that a discount placing is coming. It's AIM at its worst!

George will no doubt "try" to sugar coat it by saying it's just a small raise - but he will also have to update The Market on his latest - in a long line of - missed deadlines, since clearly there's not a hope in Hell of anything happening to the current schedule is there?

CQ ;-)

[jtidsbadly] 26/11/2021 10:50

Jonny: I think I’ll have another cup of coffee.

[sincero1] 26/11/2021 10:40

jtisadly "... I think ..." everything else after therefore is your supposition ... and always negative ....that dictionary you suggested i buy ..would you like me to send it too you at the care facility ...you clearly need it ...

but do try again..i'm here to correct you free of charge ... but i may start to charge if you persist being so stupid... now run along.....nurse has milk and cookies for you ...

[jtidsbadly] 26/11/2021 10:34

HITS: if you were the Lenders, who, through Law Debenture’s bean counters, must know the score day by day, what would you be doing with those shares you took in June? There’s a potential reason for a weaker share price. Knowe too. The reported intra-day share trades may be largely market makers trying to rouse some interest in Anguish, though.

By the way, as I’ve pointed out before, the 3 June update from Anguish said July for the groundworks. The whole thing slipped a month or two over the next couple of months. Those groundworks still haven’t been done, have they? If they’re five months late, what can that mean for the rest of the project? They’ve got the flare kit delivered but they haven’t been able yet to take a decision on when to drill the sidetrack. Still, if the kit has been fabricated, the makers wouldn’t want it hanging round their yard, would they? These engineering firms are famously busy at the moment. And has that firm in Aberdeen completed the detailed design work? We haven’t been told.

[headinthesand] 26/11/2021 10:13

Sadly, the apparently never-ending supposition primarily seems (as always) to lie within ANGS's varied issued public announcements, whether RNSes, answers to IQs, presentations or whatever.

And that in a nutshell is my biggest issue with this outfit. They're more than keen to take PIs' money (which let's face it, they have direly needed throughout to keep their salaries paid - I'd point out that ANGS has been literally zero revenue generating for around 20 months and counting). But they invariably look to secure investment based on much-trumpeted projections - not one of which has to date turned out to be accurate.

Can one build an investment case today for ANGS? Yes one can (and PeterA has next door on more than one occasion) - but it's necessarily and entirely predicated on the notably shaky assumption that pretty much everything goes right for the company from here on in - and in the timescale that the company desperately needs it to, given debt financing and hedge commitments.

But this comes down to two things, namely competence and credibility.

Regarding the former, has ANGS ever shown any? I would say no - and as prima facie evidence, I would cite the company' initial RNSed assurances and estimates that Poundland could be got to first gas by Q3 2020 and at a cost of just £2.5m, all of which funds the company then had.

Now sure, projects can and do slip... and can and do overrun on costs. But to slip by 18 months and counting? And by a cost overrun of c 500%/£10+ million? That doesn't suggest any level of competence. The entire reverse in fact.

And then we come to credibility and trustworthiness. Can ANGS justifiably be said to have earned any? Ever? My answer is a firm "no" - and again the prima facie evidence to justify such wariness is legion.

We have the announcement of the Poundland acquisition coming less than two weeks before they dropped the Brockham bombshell. Coincidence?

And how many revised Poundland schedule updates have we had? Numerous, all showing slippage. Now sure, slippage happens - but does ANGS update those paying their wages, when a schedule goes by unfulfilled? No it categorically doesn't, despite the fact that it must know well in advance that an announced schedule is going to be missed.

Examples? It announced that groundworks would start at Poundland in Aug (then Sep)... they didn't and haven't yet. It announced that equipment would all be onsite by Oct... it wasn't, with just one item arriving yesterday.

This lack of transparency and openness to those who have funded and continue to fund the company is the biggest red flag of them all. It's breathtakingly disingenuous and contemptuous - and let's not forget, making Poundland work commercially in an ever-shrinking timeframe is literally a matter of life or death for the company.

[headinthesand] 26/11/2021 10:03

Sadly, the apparently never-ending supposition primarily seems (as always) to lie within ANGS's varied issued public announcements, whether RNSes, answers to IQs, presentations or whatever.

And that in a nutshell is my biggest issue with this outfit. They're more than keen to take PIs' money (which let's face it, they have direly needed throughout to keep their salaries paid - I'd point out that ANGS has been literally zero revenue generating for around 20 months and counting). But they invariably look to secure investment based on much-trumpeted projections - not one of which has to date turned out to be accurate.

Can one build an investment case today for ANGS? Yes one can (and PeterA has next door on more than one occasion) - but it's necessarily and entirely predicated on the notably shaky assumption that pretty much everything goes right for the company from here on in - and in the timescale that the company desperately needs it to, given debt financing and hedge commitments.

But this comes down to two things, namely competence and credibility.

Regarding the former, has ANGS ever shown any? I would say no - and as prima facie evidence, I would cite the company' initial RNSed assurances and estimates that Poundland could be got to first gas by Q3 2020 and at a cost of just £2.5m, all of which funds the company then had.

Now sure, projects can and do slip... and can and do overrun on costs. But to slip by 18 months and counting? And by a cost overrun of c 500%/£10+ million? That doesn't suggest any level of competence. The entire reverse in fact.

And then we come to credibility and trustworthiness. Can ANGS justifiably be said to have earned any? Ever? My answer is a firm "no" - and again the prima facie evidence to justify such wariness is legion.

We have the announcement of the Poundland acquisition coming less than two weeks before they dropped the Brockham bombshell. Coincidence?

And how many revised Poundland schedule updates have we had? Numerous, all showing slippage. Now sure, slippage happens - but does ANGS update those paying their wages, when a schedule goes by unfulfilled? No it categorically doesn't, despite the fact that it must know well in advance that an announced schedule is going to be missed.

Examples? It announced that groundworks would start at Poundland in Aug (then Sep)... they didn't and haven't yet. It announced that equipment would all be onsite by Oct... it wasn't, with just one item arriving yesterday.

This lack of transparency and openness to those who have funded and continue to fund the company is the biggest red flag of them all. It's breathtakingly disingenuous and contemptuous - and let's not forget, making Poundland work commercially in an ever-shrinking timeframe is literally a matter of life or death for the company.

[jtidsbadly] 26/11/2021 09:51

1347: yes, you’re right, a weak attempt at sarcasm. I can’t even claim irony. Not supposition though.

To clarify, I think the management of this is/are perfectly hopeless and they compound their incompetence by misleading investors and withholding from them a lot of price-sensitive information. Their description of themselves in their website may seem to them to demonstrate a nice, becoming sense of humour but it’s fatuous really. Risible, not amusing. These are the people from whom the authors of the CPR imported wholesale and without question the information on which they based their own opinions as expressed in the report. You can’t believe anything you’re told with this company, it seems to me.

[davemarn] 26/11/2021 09:15

Take it or leave it,Ive taken some this morning!

[1347] 26/11/2021 09:03

JT "He’s gone miles along the learning curve compared to where he was three years ago, what? Still Tim, nice but dim, but with three years under his belt running an oil and gas company. What’s not to like?"

You are just being provocative now. I have seen no evidence that anything has been learnt nor anything to like nor that what the then Chairman Buchanan (not sure what he's done since) stated on 29th January 2019 has actually happened:

"We expect George and the growing management team to provide strong leadership, ensuring a focus on delivering on the Company's strategy, implementing an appropriate corporate governance culture and practices and ensuring Angus can focus on delivering on its promising asset base."

[sincero1] 26/11/2021 08:33

as I predicted a few twitter pics sent the resident disingenuous old grey dads army and loons into a posting frenzy of negative supposition ......i imagine all crayons were eaten ...
nurse new crayons and colouring in books for them please .. and remind them to use the pointy end..

set timer for supposition post ....

[solo4yous] 26/11/2021 08:21

Take it or leave it,

Ive taken some this morning!