Angus Energy Share Discussion Threads

[3put] 31/5/2022 15:13

UKOG up today , wonder why

[headinthesand] 31/5/2022 14:42

Yes I noticed that re the two parties allegedly going to hold 20% each, JTids.

After the second swathe of shares to Aleph (another 273 million shares plus 173 million warrants), the number of shares in issue will then be 2,556 million.

20% of that is 511 million shares.

So according to George, Forum will sell 136 million of the 637 million shares it's got in the just done deal (and it's already baled out of the maximum 91 million it was allowed to sell immediately - so expect many more to follow). Aleph and chums will apparently only sell 35 million shares out of the 546 million shares they're buying.

Given that apparently Aleph only needs to hold 10% (not 20%) in order to maintain the right to appoint two non-execs to the ANGS dream team, I doubt they'll hold onto that many. Currently they've only got 7.19%, when you'd think they should be showing at 12%...

[3put] 31/5/2022 14:00

CTL train about to leave the station

[ja51oiler] 31/5/2022 13:51

JT
Well, that's ok then, isn't it!! Only £1 Million forward sold! What a perfectly fair and level playing field we mug punters are playing on!

[1347] 31/5/2022 13:17

JT I can understand why some, including myself, thought at one time that there could be potential with Anguish and UDOG due to the theory that there was a large pool of oil in the Kimeridge layers, which actually there may be, but it seems that they can't get most of it out without fracking. Let's not forget Horse Hill did flow quite well for a while, so it wasn't total pie in the sky and Brockham, Lidsey and Balcombe were at one time claimed to be analogues of Horse Hill. However what we now know is that Horse Hill appears to be a geological anomaly that only flowed for a relatively short time. That's a risk with these companies and it happens, but what got my goat was that they continued promoting things beyond the point where they should have come clean. Since then it's gone downhill for both companies, placings and share dilution continue apace and in my opinion the misinformation has increased, as we've seen with Poundland as discussed here. I now regard both companies as uninvestable, useful only for short term trading, which is not really my game but the only way to make anything back at all. Remember AIM stands for Alternative Investment Market but it's not functioning like that in some cases is it, it's rather more akin to a casino where you can only get anything back if you place your bets before a pumping and take them out again quickly before the dumping.

[jtidsbadly] 31/5/2022 13:08

.sorry, JA51, not HITS.

[jtidsbadly] 31/5/2022 13:01

... he also says that Aleph and Forum will each own 20%. So we can expect 25% of Forum’s holding to hit the market after 26 August, what? Another 160mm shares. On top of Knowe’s converted holding in July?

[jtidsbadly] 31/5/2022 12:52

£1mm worth, HITS, not shares. The full 91mm shares, or close to it.

[jtidsbadly] 31/5/2022 12:48

1347: yes, the 50% (of annual earnings) is a demand of the Aleph people.

The same chap on the other site suggests that the 7% holding of Aleph reflects the placing by Aleph of the rest of the shares allocated to them, with their clients. I don’t know whether there’s merit in this theory. I agree with you about the other site, I’ve almost given up with it, it’s peopled by just the type who will be the victims of the Darwinian process at work here. Oddly, however, their reluctance to realise a loss may enable the people higher up the evolutionary chain to keep fleecing them with placing after placing. I simply can’t understand it. It’s referred to sometimes as suspension of disbelief but they’re taking it to ridiculous levels. It may be that only Mercuria can put them out of their misery. How they’ll wail, what?

[ja51oiler] 31/5/2022 12:38

Doesn't he actually say they only sold 1 Million to market? He then corrects himself ad says "the general market".....5.10 in

[1347] 31/5/2022 12:18

HITS It seems the 91 million may have been sold even before admission as there was a trade for 91,000,087 shares that went through on 24th May 2022 just after another one for 82,810,079 shares. It also seems the 12,500,000 shares held on 20th January 2022 were sold, I wonder when and why it wasn't notified as surely Forum must be an insider as they held 49% of the asset for which there were potential bids and which later resulted in an acquisitiuon by Anguish Energy?

[jtidsbadly] 31/5/2022 12:08

1347: yes, quite. Have you seen peterashbeck’s post on the topic? He doesn’t appear to grasp what it means if Anguish find themselves imminently in breach of their loan covenants. Anguish are seeking authority to issue 682mm more shares to address this exact issue! The supply of shares in Anguish is hardly in danger of drying up, is it? The prospect of Anguish having to place another £6mm of shares in the late summer/autumn, over and above the present cash raise, merely to meet their loan service requirements and/or to meet a further overspend on building the plant doesn’t seem to have occurred to them on the other site. Anguish are catching up with UKOG, what? Don’t you think the MD of a company with so many shares in issue should be paid more? Doesn’t Mr. Sanderson pay himself £300,000? And George hasn't put a foot wrong.

[1347] 31/5/2022 11:28

"Also unlike past placings only a small fraction (4%) of this issuance was to market participants who might trade out. The rest is either locked up or part of a strategic stake."

Yeah right, we'll see in time won't we...

[sincero1] 31/5/2022 10:53

the grey old disingenuous crayon eaters are very very upset today..that humiliation gets them rattled every time...tee hee...all that effort and wasted time...gone..and achieved nothing...1st gas rns and this goes up, if tv news gets hold of it it will rocket....british public hear gas and uk producer and boom....

[jtidsbadly] 31/5/2022 10:50

HITS: you don’t need to contravene anything on the other site - it’s LSE, they use opportunities that present themselves to get rid of people whose posts may undermine their clients’ interests. People have been permanently excluded from posting for “disruptive posts while not holding, nor intending to hold, the stock”. I’ve assumed that Anguish, in this case, has requested it, possibly through the medium of their shills on the chat board there. I think that if you want to carry on posting your well researched and factually correct posts there, you do need to be careful how you answer questions on your shareholding status.

[headinthesand] 31/5/2022 10:39

I've never once contravened next door's rules and regs, JTids. Which is hardly difficult if one doesn't lie and instead sticks to verifiable facts and evidenced opinions.

The disingenuous cheerleaders are bound to see anyone who dares contradict their eternal and "imminent nailed-on riches" paean of praise as disruptive. But all this goes to show is that - and to paraphrase Jack Nicholson - "The truth? They can't handle the truth!"

It was interesting to hear in George's latest love-in interview that neither the lenders nor the regulatory authorities would agree to the acquisition of SEL unless ANGS raised a significant amount of cash (hence the £6 million placing - poresumably at least in part to address increased positive bank balance requirements from the lenders and going concern/decommissioning provision requirements from the NSTA).

We also at long last got the admission from His Pinocchio-ship that July 1st is indeed a "drop dead date" (his words this time, not mine). Of course to those having done even a modicum of research, that sword of Damocles day has been known for months and months.

One glaring thing that didn't stack up at all in the face of subsequent reality was Georgie Porgie's insistence that almost all of the just issued hundreds of millions of shares had gone into sticky strategic investor hands, in which he (naturally) included FEL and Aleph. He said he believed that both parties had no intentions of selling...

However in the next breath he stated that Paul Forrest at Forum had already sold (again his words, not mine) the full 91 million shares which he was immediately allowed to sell - and also didn't address the apparent fact that Aleph has also disposed of 40% of its first swathe of 273 million shares (according to the updated 'Major Investor' list as published on the ANGS website).

Hardly a mark of long-term confidence from either party, I'd say.

[jtidsbadly] 31/5/2022 10:23

.. and I think you need to be cautious about answering questions on your shareholding status on the other site. They already see you as disruptive. They’ll be running off to admin soon.

[headinthesand] 31/5/2022 09:47

Just to clarify a point of very basic semantics, posing perfectly reasonable (and for that matter, existentially crucial) questions is not in any way an act of supposition.

[jtidsbadly] 31/5/2022 09:47

HITS: I seem to recall suggesting some of these as IQ’s many months ago. He actually answered the third question in an earlier answer. 50 days, wasn’t it? Though it was far from clear whether this encompassed connecting the new well to the plant. They’ll have to close down production while they do this, what? They don’t know the answer to question 4. He’s just suggested the first three weeks in July for the sidetrack starting. I agree that the distinction, if there is one (he’s inexperienced in the industry and may not know the generally-understood meaning of the term “first gas”) between full production and first gas should be explained in detail as soon as possible.

Of course, there’s £1.5mm of interest and the same of loan repayment due before October. There goes the £3mm from the second Aleph placing, if any, what? And July gas has just gone up to 199p per therm. They need to get the plant into production as soon as possible. And theres’s a huge stock overhang, which may get much bigger next month. And they may well need a lot more money just to maintain the loan covenants, even if Aleph do stump up for their second placing.

[sincero1] 31/5/2022 09:40

hits you know the score here by now, you and the rest of the disingenuous old grey dads army post negative supposition all day every day (although not being shareholders) whilst the company gets on with the job and then humiliates you all and slaps you in the wrinkly old mutton chops.... but please don't stop posting , i find it all very very amusing....

[headinthesand] 31/5/2022 09:26

When is full production (and NB not first gas) starting?

When is the sidetrack attempt actually being started - no woolly estimates or "is aiming for..." "is targeting..." "is planning to..." or "expects..."?

How long realistically will the sidetrack attempt take?

Can the sidetrack be attempted while as yet unstarted production continues - a straight yes or no?

How much gas? And by when?

All perfectly reasonable and as yet unanswered questions.

[sincero1] 31/5/2022 09:18

3put they are a laughing stock. difficult to see which is the most stupid ... ja51contractvoidolierwg818 is a special needs candidate.... they are the gift that doesn't stop giving .... i can't believe how much humiliation they can take ... obviously once 1st gas and sidetrack are here they will be gone...onto the next crusade ...and what would they have achieved ..nothing..except lost precious time ( particularly precious in their twilight years ) and humiliation and ridicule .....oh i do hope they don't stop posting ...tee hee...