Angus Energy Share Discussion Threads

[solo4yous] 08/1/2022 19:56

Note the line where Angus have a non binding offer for Gas under consideration

[solo4yous] 08/1/2022 19:54

Nice more like stampede for shorters and eco warrior exits

[3put] 08/1/2022 19:49

Be sensible Dog.

[solo4yous] 08/1/2022 19:47

Awful asses hereThey caused so many to sell at ,0.65pNo shame in any of these aliases who are negativeAn Mr Lawsuit Jtis admission is telling

[bionicdog] 08/1/2022 19:45

Nothing and never!

[3put] 08/1/2022 19:45

Very very predictable

[3put] 08/1/2022 19:45

As hits would say, all that matters now is how much the offer is and when.

[3put] 08/1/2022 19:42

The ramp squad next door are busily tying themselves in logical knots --- Not so long ago JT was telling everyone they will not get the finance, no way. Can you acknowledge that both sides of the debate have called it wrong?

[3put] 08/1/2022 19:41

As has ben stated clearly (both my the more sne here and by ANGS itself), it has received no formal offers --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

[3put] 08/1/2022 19:38

Needless to say, any consideration of any issue requires both sides of the debate to be seen and evaluated-- I find myself agreeing with you again HITS. Forums can be full of ramps but at least here there is both sides.

[jtidsbadly] 08/1/2022 19:20

1347: I suspect it means the first whiff in the pipe, after which lots of things have to be done and approvals given, including Shell and NG. Many weeks, in other words. It all matters, doesn’t it?

Re AEWB2 and AEWB3, they’re also subject to charges similar to those the Debenture holders signed with Angus Energy plc. I’m pretty sure a change in the ownership of any of them would have to be negotiated with the Debenture holders. If they’re going to do it, they’d be well advised to do it early, I’d say. But you know what this lot are like.

[solo4yous] 08/1/2022 19:19

Again can I askWhich idiotWill say sorry for scaring people into selling at 0.65pNice to see some Holdings RnsExpecting more to show their hands As for jtiI now believe he has a real issue with Angus Energy and his so called file may be of a more peculiar manner

[1347] 08/1/2022 19:06

JT To address your question, I don't think there is a standard accepted definition of first gas, which gives them some wiggle room.

Also there is another option, not being discussed thus far, which is that an offer is made for neither of Anguish Energy Plc nor Pounddland but for AEWB No 3 or AEWB No 2, it's owner.

[solo4yous] 08/1/2022 18:42

Reminder Strategic Review, Formal Sale Process and Commencement of Offer PeriodThe 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.

[jtidsbadly] 08/1/2022 18:40

In addition, if you look at the OGA guidelines on a change of ownership of an oil or gas licence, it takes up to 18 weeks for them to approve it. So a bidder for Poundland would have to bid for Anguish, really, wouldn’t it? Otherwise the hedges become an immediate problem. I dare say this would be an issue that the Debenture holders would also want to consider before exercising their rights under the Charge. Though if it’s a change of control that the OGA is concerned about rather than a change of immediate ownership, whoever took over either the project or Anguish would have to apply to the OGA. Murky, isn’t it?

[jtidsbadly] 08/1/2022 18:22

Sticky: why are you quoting the August 2020 gas offtake agreement as if it's just happened? No one has made an offer for Anguish. If someone has, the Board of Anguish would be in breach of the Takeover Code. Any bid for Poundland will require an exorbitant price and delay to the project (the price premium would go to the Debenture holders, not to Anguish shareholders).

Yes, at current gas prices and assuming the gas flows as Anguish predicts, it will be worth a lot. Sadly, Anguish’s lack of money and of time mean that there's a strong chance the beneficiaries will be the Debenture holders, not Anguish shareholders. The announcement on Thursday may be merely a means of postponing the “going concern” question at the time of the next annual report and accounts.

[headinthesand] 08/1/2022 18:06

Plenty of lunacy on here today. Brockham worth £150m, eh? Nurse, more meds for Iceage.

I note it's been alleged that someone on Telegram has decided to pretend to be me and ramp ANGS. For the record, I don't do Telegram and I certainly wouldn't be ramping ANGS - though I doubt that comes as much of a surprise.

A few thoughts.

As has been stated clearly (both my the more sane here and by ANGS itself), it has received no formal offers at all. It has therefore made the active and entirely voluntary choice to enter a formal consideration of sale period (even though it has no formal offers). Having decided to do this (for whatever reason, but just a week before the (E)GM seeking authority to be able to issue nigh on 900 million new shares), it was obliged to issue an RNS stating it had done so. I'll leave it to others to decide why ANGS made this choice at this precise time...

The ramp squad next door are busily tying themselves in logical knots. On one hand, they're asserting that nothing said on a share BB makes any difference - but the next second, they're doing all they can to discredit posters posting anything less than ramptastically. Ad hominem seems as per usual to be the preferred (and of course, only) tactic du jour.

Needless to say, any consideration of any issue requires both sides of the debate to be seen and evaluated. One wonders why the ramp squad are so keen for this not to happen?

Back to reality for a moment again - re fundamentals, nothing at all has actually changed. ANGS has just decided to RNS that it's got some informal offers and the share price is spiking as a result (presumably enough people are left to take George at his word... though I am entirely unsure why, given his track record).

Anyhow, more cash is still needed, both for G&A and for Poundland (a new 10% cost over-run, wasn't it?). And the entirely separate alarm clocks of debt servicing and hedge fulfilment continue to tick. So...

How many new shares, George? When, George? And at what placing price?

...and of course...

How much gas, George? And by when? Those alarm clocks still apply to ANGS...

[iceagefarmer] 08/1/2022 18:02

how much is that worth?

estimated 16 billion cubic feet of mean sales gas reserves and 10 billion cubic feet of mean contingent reserves.

[iceagefarmer] 08/1/2022 18:01

errr hello?

and was for the entire production from the Saltfleetby gas field.

[iceagefarmer] 08/1/2022 18:00

why is it so difficult for some folk to see the obvious?

Angus Energy has announced an agreement with a division of Royal Dutch Shell for gas production from Saltfleetby in Lincolnshire.

Shares climbed sharply on the news. At the time of writing, the company’s share price was up 44.41% at 1.23p.

Angus said this morning it was “pleased to have such a robust partner for gas sales”.

A statement to Angus investors said the deal was with Shell Energy Europe Limited, and was for the entire production from the Saltfleetby gas field.

Angus said the terms of the agreement were in line with the assumptions in the competent person’s report (CPR) for Saltfleetby.

This estimated 16 billion cubic feet of mean sales gas reserves and 10 billion cubic feet of mean contingent reserves.