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Aleph seems to have felt that the entire company's worth around £30 million, given that it's in the process of buying what will turn out to be 21% of the expanded shares in issue for £6 million (I've obviously not counted the extra 170+ million warrants in that calculation).
On the subject of Aleph, the ANGS Web page detailing major investors has been updated... FEL is showing as holding the correct amount as per the acquisition RNS. But Aleph seems to be showing as over 100 million shares short? They should be holding 273 million shares or 12% right now... where have the other 100+ million shares they're meant to have received gone, then?
Equally important to the Company's long-term future is to attract the support of a strategic investors in the group led by Aleph, who have shown repeated commitment to Angus and have the resources and shared ambitions to grow Angus's production in hydrocarbons and support its plans in relation to alternative and renewable energies.
'Makes one wonder why they wanted to raise so much just before cash was supposed to start flowing from gas sales?' It's called contingency planning and any forward looking company will want cash in hand
If they cannot produce the hedged gas in 34 days time, then the cash they are raising will be useful to pay the required compensation. Makes one wonder why they wanted to raise so much just before cash was supposed to start flowing from gas sales?
PS: I've not adjusted my price targets. The capital base is increasing very significantly, but, at the same time, Angus's interest in Saltfleetby has very nearly doubled. So, for myself, the share remains grossly undervalued.
Mirasol, those are all details that I agree I don’t think we will be updated on until first gas has happened and a flow rate understood. Unless there is a feeling by BoD to prop up the SP before then. The sidetrack will be a forward plan from then on.
Regards the funding, GL already stated an appetite for acquisition beyond the current ventures, so again as and when will be my prediction. If in the meantime a deal is agreed for buyout then that’ll be notified as and when.
f) What's going to be the first full month of production? g) What's the actual consistent monthly production of gas from the two existing wells going to turn out to be? h) What's the estimated start date for the sidetrack attempt and how long is it estimated to take?
Agree, Crocqman, that every time it looks as if the share is about to break out on the upside, it gets knocked back again with a placing. But believe the share can re-rate this time: £6m in the bank is a bigger cash injection than in the past and first gas (together with its cash generation) has never been closer, gas which is now 100% Angus's. And Brockham and Lidsey are there to make a contribution, too, (for Balcombe, we await the appeal decision).
I agree that Angus is a very different company to when GL took over, and have said this for over 3 years now trying to negate all those who tirelessly referred to the SP when he started to now, which is a very false position given what he was 'lumbered' with by he departing PV. Sadly, he has still not delivered anything meaningful though in over 3 years, despite the promise of SFB, other assets, and mooted projects. Meaningful as in quantifiable cashflow, not the piddly sums from Lidsey and Brockham. As ever, it is the above that is dictating the SP.
Regardless of what this 'should' be worth according to the many experts who keep giving us figures based on production, side-track, etc, the market just does not trust Angus, as seen quite clearly by a circa 20% drop on news this week.
It is pointless owning 100% of SFB if you can't get it to produce, and at the figures, or greater than anticipated. One week from anticipated production and we are told it will be "towards the middle of June", so a near 2 week delay. It really is shockingly bad, they should be throwing staff at this 24/7 to get this producing.
I have reduced my estimated target SP down to closer a 2p level, the bottom of my original estimate, and I will look to sell at least half if we get to that level on production, maybe the lot. I have been here too long to afford Angus any time beyond SFB production for my investment
Let's hope for a change in fortunes (again) since for something like the 5th time, Angus themselves have scuppered the SP at exactly the time that sentiment was changing and the SP was getting some momentum. You couldn't make it up really gla
The transformation of Angus since GL's arrival has been very substantial: today its principal asset is a 100% interest in Saltfleetby, which only entered the company's portfolio after his arrival; its 2 strategic investors of today weren't in the company's share capital 3 years ago. Let us hope that those who deramp Angus day in, day out, year in, year out, recognise they are no longer deramping the same company as they were.
That’s an odd post? You suggested that that 2 substantial strategic investors are new. They quite obviously are not as I pointed out! You seem to be suggesting 5 recommendations for correcting a post that is grossly misleading is so wrong?
I just had a look and JA51’s history is still available ( I see what you mean about DL but that’s another can of worms by the looks of it) doesn’t look like a ban to me if the history is available!