Angus Energy Share Discussion Threads

[clottedq] 07/12/2021 13:01

JT,

Yes, they've hired a team to oversee their team... then another team to oversee them.

I can already picture it now:

A group of pen pushers scratching their chins at meeting after meeting after meeting after meeting before anything even gets started.

This is Anguish after all... so we already expect expect delay, disaster and further share price dilution (it goes with the territory!).

CQ :-(

[jtidsbadly] 07/12/2021 12:55

HITS: I think they’re concerned on the other site that work won’t start, in spite of their telling us EA permission is only required at the time gas starts to flow, until EA permission has been granted. I agree, it’s a formality, it’s just a question of when. They predict 17 December at the latest, according to the new CPR.

I’d be a bit more concerned about HSE approval. That’s due any time now, isn’t it?

[jtidsbadly] 07/12/2021 12:28

But CQ, they've told us they’ve hired a whole array of experts to help them in every aspect of getting the thing connected and flowing. It’s the multiple specialist local contractors that would concern me. And where have they got to with that Joule-Thomson valve?

[clottedq] 07/12/2021 12:09

Kansas Yanis: "The key is the PMT (Project Management Team)." "And no, the reconnection is not a first of its type - it is simply a first for Angus." - Talking about PoundLand.

Oh Dear God!

And who do "we have" working on it? The same inept team who gave us FAILURE right across the board on each & every deadline... each and every financial projection and each and every operational milestone...

"A first for Angus!" It's a done deal then: ANOTHER FAILURE IMHO.

CQ :-(

[jtidsbadly] 07/12/2021 10:29

They’ve got an Echsy moron on the other site.

Incidentally, where are they all this morning? Is Flagstaff holding a Zoom meeting?

[chickbait] 07/12/2021 10:21

An oxy MORON?

[jtidsbadly] 07/12/2021 10:18

Chickbait: is that a rhetorical question?

[chickbait] 07/12/2021 10:16

How low can this go?

[headinthesand] 07/12/2021 09:34

There is of course literally nothing in the above-quoted RNSed "envisagement" that turned out to be anywhere near even remotely true.

Separately, the ramptastic cheerleaders next door are busily trying to maintain that the other day's placing is primarily to go towards:-

"Increased contingency for its Saltfleetby budget"
Surely not? Having already got it wrong by £12 million and a year and a half, surely George can't have got it wrong again at this late stage?

"Geothermal subsurface and potential site acquisition work (5 target sites identified)"
Don't make me laugh! Pie in the sky can-kicking - the company doesn't have any chance of accumulating anywhere near the capital required to mount a 5+ year geothermal unicorn hunt.

"Planning and regulatory matters in respect of its current oil fields, including work to resume production at Lidsey during Q1 2022, subject to regulatory approvals"
It is of course crucial to continue to try to persuade the regulatory authorities that there is possible life still in one's onshore "assets"... or there'll be nasty abandonment bills to cough up for. It's very clear IMO that with the possible exception of Poundland, all ANGS's other so-called "assets" are actually cast-iron liabilities, just waiting to cost the company a shedload of cash it never has. A positive flock of Norwegian Blues.

And the reason that the ramptastic brigade always omit to mention? The one that George put last in his list, presumably doing so in the hope that people wouldn't pay any attention to it. But it does explain why the £800k (oops, missed... only £750k, and that's gross) was needed pretty sharpish...

"Working capital and general costs"
Aha. That'll be the sole real reason then. Keeping the swill trough filled a while longer.

[1347] 07/12/2021 09:17

Maybe, just maybe, they should be more concerned about the positive suppositions that prove to be clearly disingenous, e.g.

"The report envisages capital expenditure to Angus of £1.5 million (mean estimate) to bring the gas on stream in 2020 and to drill a horizontal side-track to well No. 5 during H1 2021, the latter to accelerate recovery. The Board does not anticipate any other capital expenditure to capture and monetise these identified reserves. The Board may however consider further expenditure from 2022 onward to monetise the contingent resources."

[ja51oiler] 07/12/2021 08:51

From the Q&A page Asked on 1 December 2021

Q.
There is still a concerted effort, by clearly disingenuous posters ,in online forums to discredited the company and its partners using negative supposition. What does the company intend to do about this ?

Probable answer

After reading the posts the BOD decided that the "SUPPOSITION" was actually the correct action to take and followed the "disingenuous posters" predictions!

[jtidsbadly] 07/12/2021 08:31

Thanks again, 1347: that may help explain why this placing was a bit later than one thought it might be! I should have thought its receipt would be worth a public acknowledgement.

[1347] 07/12/2021 08:27

JT If you look at the ASX announcements, the quarterly cash flow for June 2021 indicates a payment of A$489k to 'Brockham Creditors', that equates to about £260k so I'd say it was paid in that quarter, but a bit odd that they didn't state the payment was made to Anguish. Will cross check against Anguish accounts when they are out.

[jtidsbadly] 06/12/2021 23:43

1347: thanks, I’ve been having a look but have not come up with much. I think it would have merited an announcement from Anguish if they’d got the funds, yet it seems to have completed as far as Doriemus is concerned. The Alba deal went through, I think. If they haven’t got the money from Doriemus, it’s not at all clear that they will.

[bionicdog] 06/12/2021 23:16

Iceagefarmer
Shut up you moron. He is John Casey btw.

[1347] 06/12/2021 22:39

JT It's not clear from that announcement that cash actually changed hands. Other than their involvement with Anguish and UDOG I have no visibility of what's going on at Doriemus, you can find their documents on their website if you want to dig deeper.

[jtidsbadly] 06/12/2021 22:25

JA51/1347: thanks for this. It didn’t come up anywhere when I bing’d it, google is better but I’m fed up with its cookies requests every time I use it. So Anguish got £250,000 in April, after the interims. What’s going on at Doriemus, they seem to have had a strangely volatile year?

[iceagefarmer] 06/12/2021 22:14

masonfreeparty
4 minutes ago (edited)
japan is stockpiling coal for hydrogen manufacturing allegedly...but really its to heat their homes when the grand solar minimum intensifies..i can see a stockmarket collapse in the hi tech renewables when folk realise they are pretty much useless during a cold sun winter...oil,gas and coal will be king again..oh and dont forget cornish tin and copper ! strategic minerals isa good bet,vast resources,block energy and victoria oil for gas and edenville for coal

[ja51oiler] 06/12/2021 21:48

They disappeared from the OGA licence documents so safe to assume so.

[jtidsbadly] 06/12/2021 21:38

Has Anguish completed the purchase of Doriemus’s Brockham stake? I can only find references to the sale and purchase agreement, which was over a year ago and subject to regulatory approval. It would give Anguish £250,000, assuming Doriemus is good for it.

[bionicdog] 06/12/2021 19:13

Your turn.

[rmart] 06/12/2021 19:00

there are a few of us bionicdog, carry on.