Share Name Share Symbol Market Type Share ISIN Share Description
Angus Energy Plc LSE:ANGS London Ordinary Share GB00BYWKC989 ORD GBP0.002
  Price Change % Change Share Price Shares Traded Last Trade
  -0.05 -5.56% 0.85 17,045,594 15:51:49
Bid Price Offer Price High Price Low Price Open Price
0.80 0.90 0.9455 0.725 0.90
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.20 -5.04 -1.08 8
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:01 UT 83,983 0.85 GBX

Angus Energy (ANGS) Latest News (3)

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Date Time Title Posts
02/3/202118:34New Angus Charts and News3,271
02/2/202108:49Angus Energy 2021 - A New Bright Future.50
29/1/202109:02New Angus Charts and News7
27/1/202120:11Inaccurate placing claims24
26/1/202109:27Angus shareholders' board18

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Angus Energy Daily Update: Angus Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker ANGS. The last closing price for Angus Energy was 0.90p.
Angus Energy Plc has a 4 week average price of 0.73p and a 12 week average price of 0.60p.
The 1 year high share price is 1.55p while the 1 year low share price is currently 0.38p.
There are currently 916,502,269 shares in issue and the average daily traded volume is 13,346,730 shares. The market capitalisation of Angus Energy Plc is £7,790,269.29.
jtidsbadly: JA51: If the Committee passes it, strangely, the share price will get a boost! The interim MD will like this but it makes no difference, they can’t afford to do anything at Balcombe. In fact, getting approval is likely to be an embarrassment going forward. Shareholders are likely to ask continually when will drilling start! If the Committee turns it down, I dare say the shares will have a small fall. A slightly ridiculous situation.
jtidsbadly: JA51: it wouldn't surprise me if the auditors have advised them that the accounts are going to have to be heavily qualified and that they need to show that they’re a going concern. That would explain the stopping of work at Poundland and the promotion of Lidsey and Brockham to potential income sources. £650,000 of abandonment reserves written back as cash will help. It’s a bit alarming that the £1.65mm. raised in the recent placing hasn't helped much. In view of the fact that the placees are now under water with their new shares, it’s going to be harder to raise much money through further placings in the near term. If they do put back the publication of the accounts until June, this will support the above supposition. I’d regard it as grounds for serious concern. Meanwhile JamesII on the other site blames the AAAG for the current share price. Luckily, he bought his 18mm. shares at a lower price and is still in profit!!
ja51oiler: Recently answered questions 1: Does Angus have a Plan B in case the SFB loan financing does not close as anticipated? Asked on 27 January 2021 We started looking for debt finance or leasing solutions in March 2020 – not the most auspicious time – and whilst equity markets picked up in the summer, debt folk tend to be much more circumspect. We don’t like to count chickens before they have hatched but we would say that the environment for debt finance of development opportunities is vastly better now than it was even in September 2020. Funds and individuals can sit on their hands for so long before they start losing feeling in them. What we can say is that, of the great number of counterparties we spoke to, two potential industry partners, and four experienced debt investors have crawled over the field (and Angus) and none have had any problem with the technical or financial proposition other than the relatively small size of the deal and their readiness to do anything last year. 2: Why did you not offer this placing offer to all shareholders? Asked on 27 January 2021 The placing involved a warrant structure – priced at 1.2p, 1.35p and 1.5p and designed to reward placees but only when all shareholders had enjoyed benefit – which would have been administratively impossible to manage in an open offer environment involving thousands of shareholders. 3: Does Angus anticipate further placings before First Gas, permit for reservoir support at Brockham and the well test at Balcombe? What kind of monthly income are we looking at if all these go to plan? Asked on 27 January 2021 We have planned in the weeks ahead a full presentation of Angus’ strategy going forward as a Transition Energy company and this will involve new projects. However we don’t right now see these projects as involving signficant (>£0.5m) spend, and so large placings, before First Gas. As to monthly income projections, we are not allowed to announce these outside of RNS and the number of variables across three oil fields and one gas field is in any case considerable. The result would be very good indeed. 4: Given the Staltfleetby reserves valuation report is based on pence/th prices of between 32 and 42 pence, whereas the Feb 21 Nat Gas futures contract has just hit 82 pence/th, presumably this will have a significant impact on SFB profitability assuming prices continue to trade in a similar range. Given this development, is there anything Angus can do in order to lock in forward sales at these prices using futures or the like? Asked on 27 January 2021 Near contracts for gas at National Balancng point have indeed spiked in recent weeks to close to 80 p/therm (according to my Bloomberg) and the day ahead contract is currently around 55 p/therm – although bear in mind that this is peak season and in summer months the price is likely to be significantly lower. The present price also reflects the impact of a very cold northern hemisphere winter as well as structural demand/supply issues driven by rising demand for global LNG from the Far East. About 20% of UK supply is now LNG. The valuation of the field is highly sensitive to headline gas prices. In our Reserves Report the exchange’s forward curve prices were used resulting in an average gross price of 38 pence per therm. At target peak production rate of 10 million standard cubic feet a day an extra 1 pence/therm is equal to about £350,000 per annum of additional revenue from the gas field, of which 51% goes to Angus. Given Angus’ tax shield there is very little incremental cost associated with this improved revenue – essentially frictional supply discount, shipping and grid entry charges etc. The potential debt participants in the facility have indicated a strong preference for a buyng a “floor” (a seasonally adjusted option over a minimum price) at or around 30 p/therm over at least a majority of the production albeit on a declining balance related to expected outstandings on the loans. The final hedging won’t be put in place until we are closer to precise supply dates, given it will be much easier (and cheaper from a credit perspective) to hedge against known production. Outside of that likely requirement, generally speaking, companies who have tried to speculate outside of hedging defined production have tended to go spectacularly wrong more often than right in much the same way that in gambling, on average, the punter loses and the House wins. Nonetheless our advisers at Aleph are exploring dynamic hedging strategies which would also allow some opportunistic fixing of future prices during the sorts of tight price environments which we have recently witnessd.
clottedq: The share price is where it is on empty hype / BB bluster & a connected third party buying a stake. The terms & conditions of the eventual loan being investigated for this cash-strapped company are unknown (as yet) and the likelihood of Anguish generating profit this year is zero IMHO. So... large loan... no profit for the rest of the year = share dilution and an "inevitable" share price crash IMHO... taking any recently invested newbies with it. My "unqualified" Advice (but based on the horrible history of ANGS & years of AIM trading): IMHO... If you're in profit... TAKE IT NOW! CQ ;-)
jtidsbadly: I wonder if Anguish have been told by the new boys, as they were told by the old boys, that there’s no appetite for a loan of the size they need. But there could be an appetite for a loan of £3mm. if they can raise £3mm. in an equity issue. With a market cap. now of £11mm. or so and the boys ramping it for all they’re worth, it’s a possibility. They’ll need to get it away before the bubble bursts though. The share price has moved up smartly more as a result of the perception that a single buyer is building a position - and hasn’t finished - than as a result of the loan update, which disappointed on the main point. The 10% holding that the buyer has bought will have cost maybe £750,000. If the share price rise and the appetite it has fed results in a total cash infusion of £6mm., it will probably enable the buyer to sell his position for a profit. It will arguably also leave Anguish in a stronger position than if it had got a £12mm. loan. £6mm. would cover the full projected cost of all the remaining work, including the planned sidetrack (about £6mm. of the £12mm loan proceeds was for an abandonment reserve. They may feel they can finesse that). So, can this blatant ramp actually get them to first gas (assuming they can do so within the September 2020 budget)?
jtidsbadly: CQ: they’re still discussing security for the prospective loan, aren’t they? What security will that be? They haven’t got anything worth more than a fraction of £12mm. This RNS is a holding statement. It’s another missed target date. They were supposed to have concluded the legal and due diligence work and drawn down the loan by the end of January. Instead, they’ve done just the technical due diligence, while the corporate and legal due diligence remains to be done. He’s given yet another target for completion of this, but the absence of any reference to “funding partners” doesn’t fill me with confidence. Does it you? Nor does the phrase “and most conceptual and some detailed design work is completed.” So they haven’t even finished the design of the thing. It’s clearly way behind schedule, again. They need the share price higher for the big equity issue which must be about to lurch into the RNS stream shortly. Who knows where they’ll get it to before the issue? They’re not good at much but they've demonstrated their expertise at ramping the share price before unpleasant news revelations. Perhaps that’s what “Business Development” means in their lexicon. Paying the expenses of the new boys on the block for three months (extendable - what’s the betting??) was not a very commercial decision. Still, Anguish is over a barrel. It’s being spun like mad on the other site by the usual suspects but it’s just yet another delay. If they haven’t mentioned funding partners, it seems likely to me that they haven’t got any.
clottedq: Ode, Happy to have an intelligent informed debate with you at long last! I know folk like to bang on about the damage Vonk did to the company and blame him for all this companies woes... BUT, it was Tidswell who was in charge of operations back then... Tidswell who formed the coup to appoint Lucan... and there's really no point denying that after Tidswell's share fiasco the share price has been on a permanent slide until very recently (PR cheerleaders currently in overdrive & share price artificially supported IMHO to give Lucan a better chance of getting his loan authorised by painting a better picture). Tidswell still "sadly" drawing a salary. The fact remains that ANGS is currently on life support (small placings for cash flow) - relying on the outcome of a much larger loan arrangement for £12 Million which is far in excess of its own market cap... and likely to come (if it ever does) with huge penalties to compensate for the large risk factor at play here. But without it... they're dead ducks IMHO! If Lucan pulls it off, then hats off to him... but it is a high risk gamble IMHO, which might - even then, lead to very little income as a result of Lucan's own original "miscalculation of costs" which now need to be offset against any eventual production. All the time the loan is withheld... ANGS become more cash strapped. Without the necessary cash to purchase long lead items they will also be further delayed into production which will "again" damage their initial highly optimistic projections. Their previous projections of future profitability must now be significantly revised to take into account 1) additional cost of equipment, placings & a £12 million loan & 2) significant production delay from original estimates of late 2020 to late 2021 and beyond? I'm afraid if any of these current FACTS lead to a significant re-rate of the share price upwards, then I will happily retire from further investment in AIM... because The Market is clearly broken beyond repair. CQ ;-)
clottedq: Sorry... I guess it must be Dear Odd? 1) I really am not Yorkshire Life? I am a Londoner... I live in Kingston Upon Thames... 55, married, 2 children.. good enough for you? 2) Your assumption (and theirs) is dependent upon a successful loan arrangement. Terms explained in the RNS are that Angus will pay for the third party to undertake due diligence until late February and possibly later - I presume you conveniently forgot this? And let's not forget... Angus have never met a deadline to date... so anything they say should be taken with a pinch of salt and a few months added! Hence my suspicion that another "interim" placing may very well be required. 3) Anyone lending to Angus will undertake due diligence and very quickly reach the conclusion that A)They have a NIL record of operational success B)A poor record of financial planning and are cash strapped and minus ANY viable near-term income streams. The outcome of this is that any potential lender will insist on draconian terms and conditions which naturally will affect the share price and dilute current holders. You may not be aware that the current market cap of ANGS is only circa £8 Million. They are looking to borrow £12 Million!!!!!!!!!! 4) The concern here is that we have not seen figures and best estimates seem to imply that Angus do not have sufficient cash - at present - to meet those reserves. Unless and until those figures are RNS'd... I strongly suspect (as do many others... including The Market I suspect) that those funds are being used to fund the day to day running of the business. 5) I say "inside" in the sense that unlike a private investor's relationship with management... this partnership will be one of equals in which the major shareholder gets preferential treatment and opportunity to sell / buy with better timing. They may choose to short their holding at an opportune time for instance and will undoubtedly discuss this with management to prevent conflict. 6) I doubt it will come as a shock to Malcy that he is paid for his interviews... or that companies pay him at strategic times to promote their placings or help them bolster their SP's? His "promotions" serve a purpose for which he is paid... and given Oil's bad run for the past year... beggars can't be choosers. The fact he earlier told us "Angus were uninvestable" still rings true to my mind - as this assessment came after Tidswell's coup to remove Paul Vonk and replace him with a man with ZERO oil & gas experience: George Lucan. Nothing has changed - other than the share price has hemorrhaged a further 80% of it's value since Lucan's arrival and they have run out of cash. Hardly an improvement & reason for a change of heart as far as I can see? 7)The only well Angus has ever derived income from is Lidsey (which they have now shut in!) So "ALL" assets have consumed vast quantities of shareholder cash and yet - to date - have contributed NIL to the coffers. I call that record "100% FAILURE"... but if you have a different phrase for it... I would love to hear it? CQ (Not Yorkshire_Life);-)
an ode to aaag: Dear Yorkshire Life, Here is a list of what you have got wrong: 1. I’m not called Odious 2. Cash position: We are told Angus aim to “close Saltfleetby loan documentation before the end of January and begin drawdown very shortly thereafter.” As such, if they do then I’m not sure why you see the need for a placing if we are talking a couple of weeks. Are you in possession of MNPI on Angus’ cash position which leads you to a different conclusion? 3. Dilution: why will the penalties and costs associated with the loan docs be highly dilutive to shareholders – there will be a grant of 30 million shares, I calculate that being around 4% dilution. If that’s significant then you are a pretty tough taskmaster YorkshireLife 4. Decommissioning liability: I don’t see the concern here given cash has been ring fenced and the current market cap doesn’t value the oil assets in any significant way. What did you think to UKOG’s RNS today, that could be positive for the Weald? 5. What makes you think the stake builder is on the inside? They invested in UJO and Reabold I believe. They definitely made money in UJO via an increased share price (good for all investors) 6. Are you suggesting Malcy P&D’s stocks. I’m sure he won’t be pleased to hear that. I’ll drop him a message. I recall everyone latching onto Malcy’s comment when he previously said Angs was uninvestable, funny how they pick and choose when he’s a good or bad news outlet, eh, 7. Angus drilled the initial successful HH well, they flowed at Balcombe. Only Brockham was a let down, but PV was the cheer leader on that one.
clottedq: I think we could see history repeating itself with the latest larger shareholder... ...Pump up the volume and share price .. and bail out with a profit just before the next "MASSIVE" placing RNS lands and ordinary PI's are left to clear up the mess (again as usual!). The terms of any £12M loan are going to be "PAINFUL"... there's no other word for it! Let's face it: Anguish do rinse & repeat better than any AIM Dog Share I know. I am genuinely sorry for LTH's who just want the share price to rise to get out... but roping in newbies like this on the premise of another promise this company will never deliver on IMHO is just shameful! CQ ;-)
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