Angus Energy Share Discussion Threads

[jtidsbadly] 06/12/2021 11:56

Yes, and the smart money must be on Angus looking at Turkey.

[bionicdog] 06/12/2021 11:54

I note that UKOG are pretending to go down the geothermal path as well.

[jtidsbadly] 06/12/2021 11:50

Bionic dog: they know they can’t afford an investment in it unless they can get Poundland working on schedule and in the required volumes. They can’t spare more than a few pounds for Lidsey either.

[headinthesand] 06/12/2021 11:46

Sincero, here's the section from the original Apr 20th 2020 ANGS RNS detailing CLN terms:-

" The New Loan Note is unsecured and is convertible at maturity after two years at the lower of (a) £0.01; or (b) if there is an issue of Shares or options in respect of Shares (excluding options granted to directors, managers or employees) by way of a single or directly related offer to the public with an aggregate subscription amount of £250,000 or more made without the prior written approval of the Noteholder then the price attaching to the lowest of those issues (the "Conversion Price")."

Now clearly, a placing has just taken place at 0.65p. That would seem to set the conversion price for Knowe, if it so chose.

[bionicdog] 06/12/2021 11:41

Do they know anything about geothermal?

[rmart] 06/12/2021 11:34

wonder what the next news will be ?

"Geothermal subsurface and potential site acquisition work (5 target sites identified)"

this could be a massive opportunity for the company whilst getting towards 1st gas at Saltfleetby. Exciting times ahead!

[rmart] 06/12/2021 10:40

Blue is the colour ! Off we go back to a penny.

[sincero1] 06/12/2021 10:40

another healthy dollop of negative supposition from jtissadly ...

remember the loan extend until April 2023 and angs retains the right to repay at any time with the additional grant of warrants at 1.3p per share.

there is that smell of stale urine again ..13reallyneedsahobby47cptmainwaring posting again ?

[rmart] 06/12/2021 10:36

oh ok, sorry I thought you meant me. fair doos.

[bionicdog] 06/12/2021 10:35

I was talking out Davemarn , 3put , Solo4yous etc etc.

[rmart] 06/12/2021 10:33

cheap shares gone ?

[rmart] 06/12/2021 10:29

Nah, I have 1 id here and one on l s e . Thats all, try harder.

[bionicdog] 06/12/2021 10:26

More pathetic than creating several IDs to agree with yourself?

[jtidsbadly] 06/12/2021 10:24

HITS: exactly. It’s new shares but they’ve already been paid for. At the best, Knowe will be a long term holder! At worst, it’s going to be an appalling overhang. The fact that the conversion can occur in July is interesting. If the payments on the Debenture are due in June and the hedges begin in July, they’ll be getting these shares at an interesting time, won’t they?

[rmart] 06/12/2021 10:21

ClottedQ, JTidsbadly, headinthesand,

to you, to me, to you, to me, to you, to me.

what a love fest you lot have. PATHETIC.

Feeding each others ego's. What a sad old bunch.

[sincero1] 06/12/2021 10:18

hits - i don't see how knowe have the right to dictate price - wouldn't it not be at a day price ?

[headinthesand] 06/12/2021 10:16

Sincero, the point surely is that Knowe now potentially has the right to convert debt into shares at a known price (0.65p) from a known date (17/07/22).

[sincero1] 06/12/2021 10:12

predictably jtisadly spews negative supposition ... if knowe want shares i would see that as a positive ...at what price is the question ...

[headinthesand] 06/12/2021 10:04

I want to know (and it's a genuine question) if Knowe now has the unilateral right to convert its £1.4 million CLN into shares at 0.65p from July 17th 2022.

Reading the 20th April 2020 RNS detailing the original CLN terms in combination with the renegotiated CLN terms RNS of 20th Oct 2021 and taking into account that a placing has just taken place at 0.65p, it seems that Knowe might well now have this right, should it choose to exercise it - provided of course that a) it did not give written approval for this latest placing (but why would it?) and that b) ANGS hasn't paid back some or all of the CLN 2 months before the 17th July next year (but how could they afford to?).

That would be a useful IQ to seek clarity on...

[jtidsbadly] 06/12/2021 09:22

Bionicdog: I perceive that Jonny has returned! Who would have thought it? I think you are easily the best-equipped to respond to his post, if you can be bothered.

[jtidsbadly] 06/12/2021 09:18

What is the most pressing risk to Anguish? In my view, it’s the possibility of having insufficient cash to meet the Debenture payments in the summer.

They’ve got more than £4.25mm.in the budget for the sidetrack and contingencies. Isn’t the most likely outcome that, faced with a default event if they can’t meet the terms of the Debenture, they’ll decide not to drill the sidetrack, and repay the Debenture holders with the money they've saved? Then anther placing would find enough support to make the payments, wouldn't it - if shareholders can see that the alternative is losing their investment?

The issue would then (very shortly after) be, does the gas from the existing wells flow at a rate that enables them to meet the hedge terms? And will they get it flowing at all by the time they need to? This, it seems to me, is what separates the bullish view of PeterAshbeck on the other site from the bearish view of HITS and most sensible investors here. The former believes they’ll get the plant operational and that the gas will flow in line with Anguish’s forecasts, all in time to meet the repayments/interest and the hedge terms.

I think one should acknowledge the possibility that it will work out. However, in view of the abysmal quality of the company’s management and their record to date, and the fact that none of their pronouncements can be relied on - as well as the increasingly difficult environment in which they and their suppliers are now working - it’s asking a lot to believe they’ll manage it.

The Debenture holders’ stance towards Anguish is another area of difference of opinion that I have with PeterAshbeck. He assumes that their interests are aligned. They are, clearly, as far as getting the thing built is concerned. Ownership of it thereafter is quite another matter, in my view. I must say, however, that it’s good to see a well thought-out bullish interpretation of Anguish’s situation, for the first time in years, really.

[sincero1] 06/12/2021 09:04

ewwww the smell of stale urine, slippers, cardigans and lavender is very strong here this morning. so many posts since Friday , clearly the resident old grey dads army had a posting frenzy ... too many posts to look through but i imagine there were lots of " prediction came true " posts .. can someone genuinely , honestly claim that if they have been stating a placing was imminent every day for the last 11 months .... i bet they are already predicting another placing ... that's not disingenuous... much.
a placing rns 0.65 and 2 hours later done ... share price still at .70 . some might say prudent to have additional funds , there is now also a revised timetable.
now before you old duffers get your slippers in a twist and begin the posting frenzy remember 2 things ... as i have mentioned before i'm on a free ride so any drops in share price really don't bother me and secondly , and most importantly , do not think for a second i care what a bunch of anonymous, grey old stale urine smelling disingenuous nobodies think .

[clottedq] 06/12/2021 08:50

LSE Torreaguas: "Haters out in force on a Sunday evening, how sad."

Well if you substitute "haters" with "long term shareholders" (or "Stale Bulls / Men from Mars" as our CEO likes to refer to those paying his fat salary) then you are correct!

I wonder why long term investors are angry with Lucan & chums... why don't you see if you can guess?

CQ ;-)