Angus Energy Share Discussion Threads

[jtidsbadly] 25/5/2022 10:32

I’ve rectified the problem and have listened to the Interim MD’s interview with Zak Mir! Rather, he read from a prepared text for 7 minutes. So here we go, they’ll be giving interviews all over the place now. Does he sound a little distrait to anyone else?

If this current selling is Knowe, we should be informed of it soon. Otherwise it can only be forward sales of the new shares, surely? The Interim MD is insistent that 40% of the issued and to-be-issued shares are now in safe, long-term hands!

[jtidsbadly] 25/5/2022 09:41

1347: apologies, my mind must have been wandering when I read your post re the £1.4mm.

Is there a problem with the chat board today on the other site? I can’t read any of today’s posts.

[sincero1] 25/5/2022 08:26

hits "slapping " was - as usual - applied to the faces of existing holders" eh?? those that bought at 0.6 and up??!!.. perhaps you are referring to your slapping selling at 1p before it rose to 1.40 and still today sits considerably above that sell out price. hits have you become so bitter about that that you no longer think before you post in a rush to be negative? another embarrassing post.

[jtidsbadly] 25/5/2022 08:09

JA51: thanks. SEL’s accounts are also there. Neither company had cash that amounted to more than loose change this time last year. That debt write-off will be welcome.

Has Mr Forrest realised that Anguish is not likely to succeed with Poundland and is he hoping that they’ll be able to do something with their legacy assets? I wonder how much of the Aleph placing money will go to Brockham? Will he take over as permanent MD at Anguish?

[ja51oiler] 25/5/2022 07:32

Forum Energy Services LTD..... £248K ???

[headinthesand] 25/5/2022 07:08

Well, as ANGS has now revealed that it needs to raise a further £3 million on top of the £3 million raised yesterday in order to satisfy both the lenders (no doubt because of that minimum positive cash balance requirement) and the regulatory authorities (presumably because it's just taken on 100% of the decommissioning liabilities)...

...the market is now aware that there's a further 12% diluting raise just around the corner. Another 273 million shares (plus 88.5 million warrants) at 1.09p.

That's going to put a crimp on any upward movement from the share price in the near future...

Looks like the much-trumpeted "slapping " was - as usual - applied to the faces of existing holders.

[sincero1] 25/5/2022 07:08

grey old disingenuous crayon eaters getting very excited...pahahahaaa...so embarrassing

but keep posting all the usual negative supposition...please don't stop..get those stale urine smelling mutton chops ready for another slapping....it's coming , it happens every single time...

[1347] 25/5/2022 06:24

Yes that's exactly what I said JT, Forum have been 'gifted' £1.4 m at the expense of Anguish Energy as it should have been cash they acquired along with the rest of SEL.

Aleph I'm not sure whether they want to just sell down at a profit or will try and take over Anguish completeley, which they would be in a good position to do with help from Forum. Either way, when the dust settles, Lucan will have transferred around half of the company to others at a knock down price.

[iceagefarmer] 25/5/2022 05:42

from lse by caravanboy


Yep. Hits that’s what I took form the rns hours ago. Now have you worked out how long nearly all those share are locked in for? That’s what makes a massive difference here. And I am not thinking you missed that out on purpose. Ha ha. This was a deal that IMO. Will bring gold eggs to all involved. If the gas flow is as expected.

[jtidsbadly] 25/5/2022 00:10

By the way, I got the £1.4mm loan wrong. It’s money owed by Forum to SEL. Now it’s presumably going to be written off, Anguish won’t get it. We’ll have to look at the two Forrest companies’ accounts later that week for any further information.

[3put] 24/5/2022 23:51

How high, 1.5p ?

[jtidsbadly] 24/5/2022 23:39

Yes, HITS. They’re going to need Malcy and Catherine and everyone else they can muster to keep the price of this high enough to get all the new shares away. I don’t expect Aleph to want to be long term holders of Anguish equity. As I mentioned earlier, I wouldn’t be at all surprised if the second placing with Aleph is abandoned.

[iceagefarmer] 24/5/2022 23:23

must be a big rise coming for these bozos to keep posting 24/7...why is money so important to them?

[headinthesand] 24/5/2022 23:00

Leaving aside any warrants, today ANGS increased the number of shares in issue by 915 million (or 65%), with over 270 million more to come, subject to shareholder approval..

It's acquiring the whole of SEL for £250k up-front, plus 637 million newly issued shares (28% of the enlarged number of shares in issue), plus up to £6.25 million of deferred cash payments. So SEL ends up shedding £1.4 million of debt, shedding its share of liabilities and costs, getting 28% of ANGS in its entirety plus £6.5 million in cash (now and deferred) for its 49% stake. Nice for Mr. Forrest who also gets on the board.

Completely separately and on top of that, ANGS has today conducted a closed subscription placing of 273 million newly issued shares to raise £3 million with Aleph or associates.

And as per the loan terms, it's given the lenders 5 million newly issued shares, this being the anniversary of the loan.

That now puts 2,283 million shares in issue (plus 86,500,000 new warrants)

On top of that ANGS, intends to hold another closed subscription placing of a further 273 million newly issued shares (again with 86,500,000 new warrants) to raise a further £3 million with Aleph or associates, but as today's actions have exceeded the existing authority it has, it needs a new authority to be agreed by shareholders to do this.

[jtidsbadly] 24/5/2022 22:31

I think there’s some confusion as to how many new shares are being created as a result of this announcement today. If you add the shares being given to SEL to the total number to be bought by Aleph in the placing, plus the warrants (which are being issued at the same price as the shares, so should in my view be included, since they’re likely to be converted and sold), plus the 5mm. Lender shares, the total is 1,361,100,000 new shares. This compares with shares currently in issue of 1,368,650,514. That’s a 99.4% increase in shares in issue. It doesn’t include any shares resulting from the putative conversion of the Knowe loan.

As well as a substantial increase in issued shares, SEL appears to be getting a free carried interest in part of any post-hedge profits. Add this to the Mercuria royalty and the fact that from year 3-4 gas production is projected to taper off sharply, and the economics of this don’t look so good, unless P50 or P10 is achieved. And they’ve got the sidetrack to do. That won’t start until a month after they’ve got gas flowing. They’ve said so. 50 days is their estimate for the sidetrack, so if they start on 1 August, they’ll finish on 19 September, assuming no holdups and a successful result. The increased volumes in the forward contracts start on 1 October. There’s no margin for error or problems at all, is there? Please, someone, tell me if I’ve miscalculated anywhere.

[3put] 24/5/2022 22:29

god dont you guys ever give up..

-- Small victory for the trolls today, its good to see them out celebrating, shows how much the recent rise has hurt them

[iceagefarmer] 24/5/2022 21:34

bah humbug!

[headinthesand] 24/5/2022 21:17

Don't act more ignorant than you need to, John Henry. The below post deals exclusively with today's news, rather than with any matter mentioned previously.

The owners of SEL have derisked and offloaded the entire company (including its £1.4 million liability and its 49% share in Saltfleetby) for a hefty chunk of shares and deferred cash. Mind you, that liability and that 49% interest seems to be all there was to the company.

SEL has ended up with 28% of the entirety of ANGS. So it'd be fair to say that today's deal means that SEL swapped 21% of its 49% interest for the shares and deferred cash.

Full production is no longer being mentioned by George for June 1st (no surprise there at all). We're now back to him being "confident of being able to make initial nominations, or First Gas, toward the middle of June"... I suppose they might still just about be able to start full production by the time the hedge starts on July 1st.

There's also been one almighty dilutative placing to raise cash (and not just for the SEL acquisition by any means). ANGS has apparently needed to raise another £6 million "to manage general working capital and Saltfleetby project capital expenditure in particular".

I guess we now know why George sought such a massive authority to issue new shares earlier in the year... and it still isn't enough, because the volume of shares needing to be issued needs shareholder approval.

As of right now, it looks like George increased the number of shares in issue by 900 million or 2/3rds today, with many, many more to come.

[iceagefarmer] 24/5/2022 20:25

unbelievable...must be alot of money to be made here...

[1347] 24/5/2022 20:24

Yes Knowe can convert from 17th July 2022, though I think it will be 0.9 p rather than 0.65 p. At 0.9p that'll be another 155,555,556 shares or 10%, ouch. ShareCoin Sanderson - eat your heart out. No wonder people are offloading as quickly as they can.

[jtidsbadly] 24/5/2022 20:15

JA51: July may be too late. If Knowe were to sell shares in anticipation of converting and Anguish went bust in the interim, would they be censured for non-settlement? Mr. Manclark is a good egg, I doubt he’d do it.

[ja51oiler] 24/5/2022 20:08

Well the Knowe £1.4 million CLN can be converted from July can't it? Probably at 0.65p unless Angus got permission before a placement fist, and let's face it why would mr Manclark possibly give them permission to do that when it could end up costing him money!Perhaps they/he is planning to do just that?

[jtidsbadly] 24/5/2022 19:51

1347: the Companies House sites say the Forum/SEL accounts will be available on their respective sites within ten days. Most times you see that message, they’re available a lot sooner so it’s worth watching the site.