Angus Energy Share Discussion Threads

[1347] 11/4/2022 08:07

Well here are some interesting facts.

Since the interim MD Lucan arrived the following funds have been raised:

£11 million in placings.
£12 million high interest loan with royalties, hedging and fees on top.
£1.4 million convertible loan from Knowe.
£1 million Riverfort convertible loan.

That makes a total of around £25 million raised. Now to remind you all what was said in the last but one RNS:

George Lucan, CEO, commented: "Our Competent Persons Report of October 2021 gave a P90 valuation of £24 million (P50 of £34 million) to our interest in Saltfleetby, since which time confidence in our ability to achieve First Gas in June has risen, and the wider market has reflected this in our own share price"

So they have raised £25 million for an asset with an NPV of £24 million, a resulting value of minus £1 million? Fantastic piece of management and shareholder value accretion that is.

In fact it's worse than it looks as not only did they have to borrow that £12 million loan, as they got the costs and timescales so wrong (or weren't honest about their original estimates of circa £2.5 million), since they arranged that loan, which was supposed to finance Poundland through to first gas and drill the sidetrack, they've raised almost £6 million on top anyway, another 50% costs.

On top of all that shares have been issued as equity kickbacks and payments for legal disputes etc. When Lucan took over there were 403,944,208 shares and the share price the week before was over 10 p. Now there are 3 times as many at 1,368,650,514 shares and the price is around 10% of what it was then.

They have also failed to get any other asset in production even do an EWT at Balcombe (although I accept the planning difficulties added to that). By any measure, in my opinion, Lucan's period of tenure has been an absolute fiasco for anyone other than insiders and a few short term traders.

[terminator101] 11/4/2022 07:56

And not even a "fully subscribed" ramp either, so you know that the bucket shop will offload onto the gullible.

[jason_scrap] 11/4/2022 07:52

Directors still not bought any...?

[sincero1] 11/4/2022 07:45

chickbait " us shareholders" I'm a shareholder numbnuts...are you? seek help.... ggp , boo, still a big ouch eh...

small fund raise , prudent...all positive stuff....the old grey disingenuous crayon eaters will be posting like crazy today , I see a filtered post from stale old urine smelling
nobody 13reallneedsahobby47cptmainwaring already. searching desperately for the negatives... raise was at 1.1. still well above 1p .... hits think before you post and embarrass yourself.
remember you sold at 1p....

[3put] 11/4/2022 07:41

"Trader Makes Lottery-Ticket Bet on U.S. Natural Gas Doubling to $10"

hxxps://uk.investing.com/news/commodities-news/trader-makes-lotteryticket-bet-on-us-natural-gas-doubling-to-10-2617844

[3put] 11/4/2022 07:41

All aboard the Angus Express…

“…All of which leaves companies with gas projects ready to go like @angusenergyplc in a strong position. After several dry years #ANGS seems set to spark into life this summer as production gets underway…̶1;

[...]

[tomzimerman] 11/4/2022 07:33

Those with inside information might have known huh??

[3put] 11/4/2022 07:32

maybe Shell will buy out ANGS ?? hxxps://www.cityam.com/shell-to-invest-25bn-in-uk-energy-systems/

[3put] 11/4/2022 07:31

Great news today

[terminator101] 11/4/2022 07:11

Ps that post didn't age well huh, less than 8 hours mate :-)

[terminator101] 11/4/2022 07:10

Placing huh. Who would have thunk it.

[chickbait] 10/4/2022 23:31

sincero1 7 Apr '22 - 06:50 - 20539
1.000
sitting by the pool enjoying a cold drink....and price still high , so obviously no pump and dump ...so anyone saying that is a bellend. ...and none of the placings predicted by the resident old grey disingenuous crayon eaters either...well that is a real surprise...not.....such imbeciles with negative agendas....the company slaps them in their old stale urine mutton chops again..... see you suckers next week....

I love the last part of sincero1's post.

see you suckers next week.... I hope he or she is not referring to us shareholders!

[chickbait] 10/4/2022 23:28

3Put. Any ideas why the share price is crashing when gas prices are still high?

[chickbait] 10/4/2022 21:19

Interesting SOU pulled out without upping their bid seeing they had all the data?

[3put] 09/4/2022 20:29

Looks decent to me, you were calling it down at 0.8

[chickbait] 09/4/2022 19:31

Just logged in again to the 3.put pumping thread. It's not working pal as the share price is on a nose dive!!

[3put] 09/4/2022 16:14

ocelot

Posts: 17,537

Price: 1.45

Strong Buy

request to reduce French electricity usage on MondayToday 15:43
France’s electricity grid manager asked businesses and households to cut consumption as a cold snap pushes demand higher at a time time when around half of the country’s nuclear reactors are offline.

RTE requested that households run dishwashers and washing machines over the weekend rather than on Monday to help reduce the load and requested that businesses moderate electricity usage between 7 a.m. and 10 a.m. local time that day, according to a statement on the company’s website. It said it doesn’t expect any power cuts... (Bloomberg)

They think they should be alright, this measure is precautionary.

[3put] 09/4/2022 16:14

"Trader Makes Lottery-Ticket Bet on U.S. Natural Gas Doubling to $10"

hxxps://uk.investing.com/news/commodities-news/trader-makes-lotteryticket-bet-on-us-natural-gas-doubling-to-10-2617844

[3put] 09/4/2022 16:14

All aboard the Angus Express…

“…All of which leaves companies with gas projects ready to go like @angusenergyplc in a strong position. After several dry years #ANGS seems set to spark into life this summer as production gets underway…̶1;

[...]

[gaffer73] 08/4/2022 19:24

7 weeks to go, it's gonna be close. Site works looking good though.