Angus Energy Share Discussion Threads

[chickbait] 06/1/2022 08:56

Oktane

Posts: 602

Price: 0.975

No Opinion

RE: RNSToday 08:21
Interesting development, will it significantly rally or is this the very last chance to get out of the lobsterpot?

Good luck Yanis and the other marooned longs here.

ReplyRecommend (4)

[3put] 06/1/2022 08:56

Naysayers are rattled , haha

[3put] 06/1/2022 08:55

Formal Sale Process

Any interested party will be required to enter into a non-disclosure agreement with the Company on terms satisfactory to the Board. The Company then intends to provide such interested parties with certain information on the business, following which interested parties will be invited to submit their proposals to BC.

[solo4yous] 06/1/2022 08:52

Let the dust settle Final sentenceThis valuation mismatch, also experienced by many other smaller energy companies, has resulted in a series of approaches with interest in, and in one instance an indicative non-binding offer for, some or all of the Company's 51% interest in the Saltfleetby Gas Field asset which is under consideration. Additionally, the Board has received indications that certain parties may be interested in making an offer for the Company.

[jtidsbadly] 06/1/2022 08:52

1347: I think I agree with you. The amusing Paddy may be playing a part in this. What are they going to do if no one wants the company or its assets? One look at the hedge terms and the size of the risk inherent in the sidetrack they can’t now afford to drill will deter anyone, surely? - even if Law Debenture were to give a bidder the green light. This RNS evidences desperation, plain and simple. They can’t raise the money they need to complete Poundland. They may even have been in early talks with the auditors re going concern, in the immediate future. The vultures are circling. The realisation should soon seep in. Dear oh dear.

[3put] 06/1/2022 08:50

When the CEO himself says the company is worth 3-3.5p, then shareholders will expect nothing less in any sale

[bionicdog] 06/1/2022 08:44

JC
It's not really obvious is it?

[solo4yous] 06/1/2022 08:44

The final sentence says it allIf it's in the region of £50m job done

[smcl] 06/1/2022 08:43

Could this be the year of takeovers of small cap oil and gas companies?

[solo4yous] 06/1/2022 08:39

Read the final sentenceThis valuation mismatch, also experienced by many other smaller energy companies, has resulted in a series of approaches with interest in, and in one instance an indicative non-binding offer for, some or all of the Company's 51% interest in the Saltfleetby Gas Field asset which is under consideration. Additionally, the Board has received indications that certain parties may be interested in making an offer for the Company.

[iceagefarmer] 06/1/2022 08:38

its obvious Shell will take angus out for £100m plus

[3put] 06/1/2022 08:36

the Directors are confident of achieving first gas in a timeframe which will not be materially different from that advised. A detailed week by week construction and commissioning timetable will be issued during the course of January 2022 as matters become clearer.

[solo4yous] 06/1/2022 08:36

Big players haven't come in yetNor delayed trades1.50p to smash

[3put] 06/1/2022 08:35

Whilst not wishing to be distracted from our immediate aims we must meet our responsibility to shareholders to evaluate any proposals. As such, the Board has been considering options for the Company with its advisers. In light of these developments, and to better position the Company for further growth, and to maximise value for existing shareholders, the Board has now determined to undertake a review of the strategic options. These options include, but are not limited to, a sale of the Company which will be conducted under the framework of a "formal sale process" in accordance with the Takeover Code.

The Board is unanimous in its support for such a strategic review and has appointed Beaumont Cornish ("BC") as its financial adviser. Parties with a potential interest in making a proposal should contact BC, whose details are set out below.

[3put] 06/1/2022 08:32

Get that right up you JT and all your other detamping clowns

[smcl] 06/1/2022 08:31

Overall positive news - lets see what develops.

[jtidsbadly] 06/1/2022 08:30

This RNS could have been written by cuds, really. Perhaps it was. I hope that the LSE and the FCA are watching closely. If this is a mere ramp, the Board could have some questions to answer.

They’ve got no geothermal assets and no expertise. Their oil assets should have been written off last year (why have they been spending precious cash on those, unless it was to avoid decommissioning?). They appear to be unable to complete Poundland. There are no offers for any asset or for the company. The hedges are a huge disincentive to any bidder. The Debenture holders may be interested in taking it over but on the evidence of this announcement, they’ll be able to get it gratis in the summer.

It’s good fun though, isn’t it? Still on track for “first gas” next month, what? Where’s the Joule-Thomson valve?

[3put] 06/1/2022 08:29

Flying today , naysayers are rattled

[solo4yous] 06/1/2022 08:28

This should b 1.50p very soon per share

[solo4yous] 06/1/2022 08:24

£35-50m sale me thinks

[solo4yous] 06/1/2022 08:18

Gap closed lovely

[1347] 06/1/2022 08:17

JA - The debenture holders will be in on it and Knowe and I suspect other major shareholders, probably been in the pipeline for some time.