Angus Energy Share Discussion Threads

[bionicdog] 06/1/2022 09:31

Utterly insane.

[3put] 06/1/2022 09:29

From other place

Sum of the parts valuation of 18/06/21:

£43m or 3.93p per share (on the basis of the current issued share capital) after prudential discounts of 80% and 90% against, respectively, Lidsey and geothermal.

Since then, the revised CPR has increased the value of Saltfleetby by more than 50% and Lidsey has made further significant progress.

hxxps://www.angusenergy.co.uk/wp-content/uploads/2021/06/ANGUS-ENERGY-PROACTIVE.pdf

[3put] 06/1/2022 09:28

Hits is part of the deramp team , simple

[3put] 06/1/2022 09:27

1.1 paid , not much left on the ask

[sincero1] 06/1/2022 09:27

hits you are showing a distinct lack of class ... its disappointing ...

[3put] 06/1/2022 09:27

Get that up you hits

[markbarker] 06/1/2022 09:25

Ho chicken drum stick still posting pony and trap

[chickbait] 06/1/2022 09:24

1.00 GBX
-6.01 (-85.73%)all time
6 Jan, 09:23 GMT • Disclaimer
LON: ANGS

[solo4yous] 06/1/2022 09:24

Read final sentence1.5p needs taking outThis 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.

[chickbait] 06/1/2022 09:22

Mirasol

Posts: 5,820

Price: 0.85

No Opinion

RE: Two ways to read this morning's RNS...Today 09:18
"The timing of this release is notable... just two weeks after the seeking of a new authority to issue up to 874 million new shares was announced, and just one week before such application gets voted on at the (E)GM."

Anyone remember the "lady of Aim " tweet just before the last (failed) raise?

A desperate attempt to pump the stock I think

ReplyRecommend (3)

[3put] 06/1/2022 09:21

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.

Further announcements regarding timings and procedures for the formal sale process will be made as appropriate.

The Company is not currently in any discussions with any potential offeror relating to an acquisition of the issued and to be issued share capital of the Company.

The Board reserves the right to alter any aspect of the process or to terminate it at any time and will make further announcements as appropriate.

The Board also reserves the right to reject any approach or terminate discussions with any interested party or participant at any time.

The Takeover Panel has granted a dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the Takeover Code such that any interested party participating in the formal sale process will not be required to be publicly identified as a result of this announcement (subject to Note 3 to Rule 2.2 of the Takeover Code) and will not be subject to the 28 day deadline referred to in Rule 2.6(a), for so long as it is participating in the formal sale process. Interested parties should note Rule 21.2 of the Takeover Code, which will prohibit any form of inducement fee or other offer-related arrangement, and that the Company, although it may do so in the future, has not at this stage requested any dispensation from this prohibition under Note 2 of Rule 21.2. Following this announcement, the Company is now considered to be in an "offer period" as defined in the Takeover Code, and the dealing disclosure requirements summarised below will apply.

This announcement is not an announcement of a firm intention by any party to make an offer under Rule 2.7 of the Takeover Code and there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.

[3put] 06/1/2022 09:20

Operational Update

Progress continues apace at Saltfleetby and whilst some suppliers have advised of delays of the order of a few weeks and the Board anticipates a further increase in the contingency for the project (up to 10% of budget), 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.



George Lucan, CEO, commented:

"The speed of transition has surprised the energy market in general and the resulting shortage of new gas supply, and deficit of renewable sources, is likely to lead to periodic crises such as we saw recently in the UK and a very high forward gas price in years to come. Presently, the market is attributing little value to hydrocarbon reserves in general, or in our instance, the immediate cashflow prospects of the Saltfleetby Gas Field. Accordingly, in the light of this and the interest expressed by other energy market participants, we think it in the best interests of shareholders to conduct this strategic review and formal sale process."

[3put] 06/1/2022 09:20

Strategic Review, Formal Sale Process and Commencement of Offer Period

The Board of Angus Energy plc (the "Board") whilst remaining fully committed to achieving first gas at Saltfleetby as soon as possible has simultaneously been addressing the urgent need for transition energy projects in particular in the geothermal sector in the south west of England. Even though progress in these twin goals is steady and sure, the Board share the outlook of some of our shareholders that our market capitalisation doesn't reflect the short-term value of existing hydrocarbon assets and their immediate cashflow potential and any long-term value in the Company's scaleable geothermal project.

This 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.

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 09:18

I JT and my other ids apologise to anyone that sold due to our deramping

--- done it for you

[ja51oiler] 06/1/2022 09:16

Realisation creeping in!

As I said...... TIMBER!!!!

[solo4yous] 06/1/2022 09:10

Hahahha some idiot said we would never see. 1p hahahhaa

[3put] 06/1/2022 09:01

I think JT and his other Ids should apologise to anyone that sold out due to his deramping

[3put] 06/1/2022 08:59

All those days deramping , lol. What a waste. 50m sale to shell would be lovely.

[solo4yous] 06/1/2022 08:59

1.50pNeedsSmashing

[solo4yous] 06/1/2022 08:57

They hate it