Angus Energy Share Discussion Threads

[sincero1] 20/1/2022 16:01

uclot is that the bad news rns you stated as fact would arrive last Friday...you really do keep making yourself look very very stupid....

the latest rns has you old duffers scrambling....

[clottedq] 20/1/2022 15:56

JT,

I bet Jonny wished he'd taken Forrest's advice now and gone RUNNING himself!

JA,

I don't think the placing and offer are an issue for Anguish. I expect the latest offer will be officially rejected & "HEY PRESTO" the following day, the placing will be announced

... simples!

All IMHO

P.S: We're fast approaching another AIM Bad News Friday again aren't we... Has George put pen to paper already?

CQ ;-)

[3put] 20/1/2022 15:55

As hits said , it's predictable. How much gas and how much is the offer. He even predicted the rise

He also sent me a dm and told me to buy He1 the other day, clever man

[3put] 20/1/2022 15:54

1.2 finish everyone agree?

[jtidsbadly] 20/1/2022 15:45

There it is, then. Jonny has 2.54% still. And a long list of options.

[1347] 20/1/2022 15:14

Well I see we are still waiting for some disclosures from significant shareholders, but while we are waiting can anyone explain why was there no notification to market of the previous indicative proposals on the 18th December 2021, 30th December 2021 and 5th January 2022 but rather they waited until after the latest approach on the 14th January 2022, which for some reason was oral via Gneiss?

[rmart] 20/1/2022 15:09

jt still hoding 27.5m

[3put] 20/1/2022 13:52

He1 mooning

Come with me and make some cash , stop stinking the place out. Very tedious

[3put] 20/1/2022 13:51

88e mooning

[3put] 20/1/2022 13:16

Relax everyone , warrants are coming

[jtidsbadly] 20/1/2022 12:50

JA51: yes, and there would be further pressure on the Sound share price, which has risen sharply since 1 December, on closer examination by its own shareholders of the Anguish assets and the bid terms (think what their shareholders would say if the Debenture holders acquired Poundland three months after a successful bid!). A still lower Sound share price would reduce the value of the bid, so Sound might need to sweeten the pot further to get control tof Anguish. After which the Anguish shareholders, disgruntled at the dilution of their interest in the fabulous Saltfleetby asset, would be selling their new shares hand over fist. No, not a recipe for a higher share price.

Added to this, Sound’s stated rationale for the bid is pure bs.

Re Anguish/the Debenture holders: this may all be just a pump and dump with a placing somewhere along the line. Or the Interim MD may be trying to attract the attention of the Debenture holders. I think it could depend on whether Mercuria have laid off their potential profit on the hedges. If they have, they’ll have a strong interest in getting the gas flowing on time. If not, they might just sit back and watch how Anguish performs! I agree that Anguish will need more money for the sidetrack and that one more placing is unlikely to be enough.

[sincero1] 20/1/2022 12:21

ja51contractvoidoilerWG818 "The sooner the company disappears the better as far as I'm concerned"
Why anyone would listen to anything this horrid little nobody still posts after that comment is a mystery. the usual grey old disingenuous crayon eaters reply and support him and therefore clearly should also be ignored.... what helmets...

[chickbait] 20/1/2022 11:45

JA. Some good points there. Maybe one of the 6 bidders are in talks with the lenders.

Food for thought?

[ja51oiler] 20/1/2022 11:35

JT..... This is the thing. If the lenders of the loan had or do say we understand that you got your figures and timings wrong and we are willing to lend you another!
lets say £2.5 million

£1.2 M minimum on Costs
£ £250 k a month on time overrides....So that's £750k up until March plus how ever much longer it's going to take "At least 3 months on top of that imho" plus whatever timescale the EA permission is going to take.

So that's around £2 million minimum plus the half a Million already listed in the CPR! "see above"

So back to the original point, if they had said this it would be a completely different scenario. Angus most likely would not be up for sale, would it?

The point is now that they won't have enough money to drill the essential sidetrack whatever happens without raising money from somewhere.

In a best-case scenario, the lenders agree to a sale with more onerous terms, worst case they are so fed up with the shambles they just refuse and take the lot if and when Angus and SEL default. We don't know whether they are obliged to even lend them further funds as they admit they are over budget by 10%

How that's good for a PI in any circumstance I just can,t fathom? Even if Sound takes over they will have to go straight to market to finance the sidetrack diluting those nice new combined shares anyhow so how's that attractive?

[jtidsbadly] 20/1/2022 11:32

The latest Twitter snaps show the condensate storage tank undergoing pressure testing “in the yard”. Where’s the yard though?

[chickbait] 20/1/2022 11:24

Sorry for throwing this out there but looking at the Lucan Fashion website and the latest reviews it seams to be doing very well. Maybe George has had enough here and thrown the towel in??

[jtidsbadly] 20/1/2022 11:14

JA51: they can withdraw from the “bid” after 28 days, can’t they? If Anguish still has some money saved from not having to drill the sidetrack yet and from the budgeted abandonment reserve, they should be able to finesse another month or so. In the meantime, certain parties will have been able to make good their escape, what?

It’s confusing that the Exec. Chairman of Sound and the Interim MD of Anguish share the same initials.

[jtidsbadly] 20/1/2022 10:52

JA51: if they break the debt covenants, that represents an event of default, if I’m reading the charge right. So yes, the Debenture holders would have the right to secure the assets.

[jtidsbadly] 20/1/2022 10:48

I see they’re discussing LCC planning permission on the other site. It’s nailed on, isn’t it? They’ll approve it as soon as they can.

They’re also discussing “the 1.5p bid”. It isn’t, is it? It’s Sound shares, and lots of them, at 2.2p. They’re down to 2.0p now, so that’s already only 1.36p and the overhang in Sound shares in the event the bid were accepted would drive it much lower. No wonder Mr. Forrest is voting with his feet. Pump and dump?

[ja51oiler] 20/1/2022 10:47

JT
It's fascinating, isn't it? That last placing at 0.65 was obviously done as they were short on funds (why else do it)? With the historical cash burn for the rest of the operation (Circa £250k) to work from (bearing in mind they have no income) that will be gone mid-Feb!How will they fulfill the....

"This will give the Directors flexibility to issue and allot further
Ordinary Shares in the future (whether to maintain debt covenants and meet all obligations under the
Saltfleetby Development Loan Facility or more generally"

That the GM was specially called for?...

"(whether to maintain debt covenants and meet all obligations under the Saltfleetby Development Loan Facility"

What happens if they break these? Do the lenders just say thanks very much we will take it from here?

[sincero1] 20/1/2022 10:35

ja51contractvoidoilerWG818 "The sooner the company disappears the better as far as I'm concerned"
Why anyone would listen to anything this horrid little nobody still posts after that comment is a mystery. the usual grey old disingenuous crayon eaters reply and support him nd therfore clearly should also be ignored.... what helmets...

[jtidsbadly] 20/1/2022 10:26

JA51: can you do a placing while you’re officially under offer by a potential acquirer? I’d be surprised if it’s allowed without their permission but I don’t actually know the answer.

[ja51oiler] 20/1/2022 10:20

CQ

This is all new to me so I don't actually know if they can do a placing now?

It would seem logical if they could they would have to wait until after 3.30 today wouldn't it?

Took them about a week last time they held a GM (for the same reason incidentally) to announce a placing. So that would be Today!!

[jtidsbadly] 20/1/2022 10:19

JA51: I’m not sure whether that news is good or bad..

[jtidsbadly] 20/1/2022 10:17

Yes, CQ, once he’s sold them all. It’s kind of Frazer Lang to accept the Sound offer and thus support Mr. Forrest’s price while the latter sells. Will Sound withdraw after their 28 days on the grounds that the Anguish Board declined their bid, leaving Anguish with no option but a placing?