Angus Energy Share Discussion Threads

[jtidsbadly] 22/6/2022 21:17

Chickbait: if you’re right, they’ll need the second £3mm from Aleph. I wonder how many Anguish shares they hold currently.

[3put] 22/6/2022 21:09

Let's have a FRIENDLY sweep for first gas ⛽️
20
21
22 - 3PUT
23
24 - Gasman & Bobaxe1
27 - TIDY 2 & WG818
28 - Sincero
29 - Shooter
30 -
1 - Noelpbz

JULY - HITS (Full Production) Shooter (Full Production)
AUG - Chick (Full Production) JA (Full Production)

[3put] 22/6/2022 21:08

I've got you down as AUG

[chickbait] 22/6/2022 21:02

I still stand by first gas production August at the earliest?

[chickbait] 22/6/2022 21:01

It all seems rather rushed to me?

[chickbait] 22/6/2022 21:00

JT. I agree. What is the difference from first gas to first gas production and first gas in the pipeline being sold to SHELL?

Has wet commissioning even started yet?

How long does it take to not only complete wet commissioning but all commissioning signed off from all authorities before the gas can be pumped into the grid and then sold to SHELL??

[jtidsbadly] 22/6/2022 20:53

Chickbait: I agree with you: this is exactly the issue. That Anguish timeline table from two years ago for completing Poundland that you reproduced a couple of times a week or two ago suggested the commissioning process might take 6 weeks, if I remember right. No one seems to know what the interim MD means by “first gas”. I confess that I have no idea what it means in the Anguish context. Does it mean the first flow of gas into the pipeline for sale to Shell. Or does it mean the first release of gas from the well head for testing and measuring purposes?

3Put: all I’m doing is pointing out that there are imminent time constraints which make it vitally important to Anguish that it’s selling gas to Shell by mid-July. A less clueless management with larger shareholdings would give me greater confidence. This lot have got a history of obfuscation and misleading shareholders. The obfuscation continues. It’s possible the shares are cheap. I wouldn’t bet on it though.

As for milestones, the share price got to c.38p in 2017. There must have been a milestone in there somewhere. And there must have been several in the succeeding years when it fell like a stone. It would be surprising in virtually any event if the share price were to get back up to the 9p or so level that obtained when the Interim MD was parachuted in. So no, the start of gas flowing is important to the share price but it will probably have less impact on most shareholders than the price movements of earlier years.

[chickbait] 22/6/2022 20:52

3put. Is nitrogen testing the same as wet commissioning?

[3put] 22/6/2022 20:29

It was only a small increase today Chick, still plenty time to get in

[3put] 22/6/2022 20:28

Has the wet commissioning started yet? Ithink that takes about 4-6 weeks to complete?

Chick: Yes it has, first gas anytime.

[chickbait] 22/6/2022 20:18

What you mean by commissioning?
Image result for commissioning meaning in construction
Commissioning is the process of planning, documenting, scheduling, testing, adjusting, verifying, and training, to provide a facility that operates as a fully functional system per the Owner's Project Requirements.

[chickbait] 22/6/2022 20:17

Has the wet commissioning started yet? Ithink that takes about 4-6 weeks to complete?

[3put] 22/6/2022 20:01

1347: I would have liked to see more director buys. Agree with you on that point.

[3put] 22/6/2022 20:00

Nitrogen testing now at 4-5 days, there should be news soon.

[3put] 22/6/2022 19:59

JT: How can you say it’s not cheap? You present the bear argument and I present the bull argument.

My point, the biggest milestone since the IPO is here. Do you agree?

[1347] 22/6/2022 19:37

"Why have the Directors of this not filled their boots with these remarkably cheap shares with “first gas” imminent?"

I think we both know the answer to that rhetorical question, do we not?

[jtidsbadly] 22/6/2022 19:31

But 3Put, you don’t know what “first gas” means. How can you say it’s cheap if you don’t know whether this will be on stream this month, next month or in August, when in all probability they won’t have enough cash to meet the forward contract shortfall for July if “first gas” is not very close to sales gas?

[jtidsbadly] 22/6/2022 19:27

1347: I was pointing out the regularity in the lengths of the delays. Yes, they initially said it would be finished by May-August 2020, within their £2.5mm. budget. If they didn’t know at the time how wrong this was in both particulars, they are extremely poor oil and gas men, to say the least. If they did know, their successive news releases and Q&A answers were highly misleading. But now we know that the Interim MD was trying to get the £12mm. that he didn’t need as early as December 2019. He should have taken the $20mm. that he later said he was offered. It’s going to end up costing much more even than that.

I agree with your summary of standard AIM practice as it’s unfolding here. Is there time for a soothing Malcy “interviewR21;? Or the bloke at LSE or Flagstaff? Or the gorgeous, pouting blonde?

Why have the Directors of this not filled their boots with these remarkably cheap shares with “first gas” imminent?

[3put] 22/6/2022 19:20

JT: clearly there are failings under the previous management and also the current. I'm not disputing that. However the elephant in the room is the first gas (let's not play games) in a matter of day, yet you are unwilling to acknowledge it. If you are a LTH that lost a lot of money, I can understand the anger. But for a lot of us, this is a fresh start and a buying opportunity for new investors.

[1347] 22/6/2022 19:00

JT That's rubbish, the First Gas date has been put back over the last 3 years, not just the past 9 months.

[jtidsbadly] 22/6/2022 18:58

But 3Put, you don’t even know what “first gas” is. Whatever it is, the Anguish management have successively put it back over about the past nine months, first every two months by two months, then every month by a month, more recently every two weeks by two weeks. The hedge contracts start to apply, at last, seven working days from now. That’s the problem. If you think the second £3mm. from Aleph is irrelevant in these circumstances, good luck.

[1347] 22/6/2022 18:57

Pretty obvious what's going on, the model is well established and oft used. Institutions and other big holders get discounted shares in placings/subscriptions or shares in lieu of payments. Many of these shares are then offloaded to retail investors at a higher price, maybe they've even been forward sold weeks beforehand.

The market makers and company brokers help ensure that the share price is moved in the right direction at the right time. Trader/rampers and some shills talk the share price up, then there's the, always flattering, interviews by the pay per view lot, i.e. Malcy et al.

At some point there's a delay or some other problem and the share price takes a dive and the retail 'investors' (aka mug punters, aka stale bulls are left under water). Rinse and repeat next time the company is short of funds for the lifestyle directors.

[3put] 22/6/2022 18:45

Aleph is a red herring. Anyone can buy or sell at any point. First gas in a matter of days , that is clearly upsetting you for some reason.

This is by far the most important milestone since the IPO.

[3put] 22/6/2022 18:43

JT: Those last two posts are nothing more than scaremongering. Can you define an aim ramp? The share price has increased 100% over the last 6 months on the run up to first gas.

[jtidsbadly] 22/6/2022 18:40

..and there’s 4.75mm. “unknown”; shares transacted earlier this afternoon, announced after hours. More to be announced tomorrow morning, probably. It looks to me like a well-organised, classic AIM ramp.

Let’s have a schedule of dates when people posting here think there will be an RNS to say that Aleph has invested the second £3mm. Or a TR-1 revealing their current shareholding and the stages by which it was reached.