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Rastuss - all on the website..
To be honest Rastuss, I see this enlightenment as a positive step. Even Ocelot proved the numbers for the gas asset didnt make sense, only he didnt realise it. That said we do need to get the price up somehow so not sure how we are going to do this unless we talk exclusively about the liabilities which are assets. This is why I want to ensure everyone understands that £400k rent in scotland doesnt appear to be prudent.
What is this about Lidsey? This is our flagship asset as only revenue is from here.
gkb47: thanks for this. When did they do this consolidation? They’re still in the Companies House data.
When these AIM companies pay off their Wonga loans out of their valuable cash resources, rather than allow Wonga the option to take new shares instead, the share price goes merrily up, it seems. Yet they don’t bat an eyebrow when there’s a massive placing of new shares. I don’t understand.
Michael: many of the posters on here, including myself, would miss very much you’re very valuable insights on this board. Please keep it up (why does Jonathan keep coming to mind, and the Tay?).
We are all interested in any of your analysis that doesnt involve threats or reporting, or your thoughts about other people. Havent seen a post like that from you so interested to know where you stand on angus.
Rastuss - Think they took AWB No 1 out of the structure, it's now AWB No 3 -> AWB No 2 to Angus Energy Plc. So at least a bit simpler now.
Bit confusing the structure anyway as the normal structure is to seperate companies horizontally by asset (in case one goes pop), Anguish haven't done that, strange.
We've discussed the ever raising wage bill, the big payoff to Vonk, why? The high costs of offices, leases etc. yet they only had £200 k revenue from Lidsey?
On that topic, I've picked up that they paid £467,377 to acquire further interest in Lidsey, yet have now impaired it for £600,000 soon afterwards. Some Business acumen there.
By the way Balcombe 25% interest was acquired for £4m and yet has just sat there for 2 years. Holwood 12.5% interest cost £155,000 with further commitment up to £800,000 exploration costs and certain further contingent costs (whatever they may be) and is also a dead asset.
On top of the Contingent Liability in the AWB No 3 Accounts I also noticed on Page 56 of the Plc accounts the following:
"The Group is in discussions to recover the full amount due from farmees. The Group has made an allowance for impairment to reflect the potential uncertainty over the recovery of these amounts."
Anyone know what those are about?
PS: All taken from issued accounts, so anyone can verify the statements for themselves.
Michael: well, one reason could be that it’s a very nice office. Swimming pool (shared but I dare say less busy than the RAC or the Lansdowne). It doesn’t actually list a real tennis court but who knows? They’re getting on a bit, the Earls, squash is a bit energetic. It doesn’t do too raise a sweat. What? What? I mean to say...
Crocqman: thanks for this. I agree that the Earl of Lucan has nailed Angus’ colours to the Saltfleetby mast. They've already spent part of the £2.5mm. they got for the eventual site refurbishment haven’t they, so going for broke seems the best option?
Have you looked at the resolution passed at the AGM, allowing a doubling of the number of shares this year? There’s a secondary paragraph giving them the option to issue 900,000+ . Is this part of the first paragraph or is it further, additional, shares? I’m new to all this, don’t understand the legalese. I think a placing is coming and don’t really understand why AIM shareholders are so relaxed about a doubling of their numbers every year or two.
Actually, why do they need offices in Chiswick? What a waste of money. I cant believe ive put money in this company
I know you are here for SF, but arent you concerned that the cpr shows a 50p therm price when we are at 8p? Even Ocelot quad bookkeeping method showed a loss, just he didnt realise it.
Also the expenses - you not concerned at all?
There are 3 Investor Q's on the Angus website that they will also need to answer by month end on Tuesday. These will also give an indicator as to finance arrangements and timelines for activity and spend over the coming months.
I still feel focus will be on SF (my preference and they have said this themselves) with the others being progresses in the background.
For me, delivering o SF will )hopefully) be the source for funds for operations elsewhere, either through cash generation, ot with the CPR, alternative fund raising options, aside from placings.
Wasn't going to post unless news, but thought I would add this as it ties in with updates expected next week
It seems some posts have been removed again so good work by Angus. They dont want the huge increase in rent and consultancy fees being plastered everywhere.
It would be foolish to ignore such accounts. The losses are colossal. Anyone that says they arent shouldnt be taken seriously.
Highroller: the obvious fact is that the ultimate operating subsidiary, no.3, will pay any money it may earn to no.2. They will pay it to no. 1, who will pay it to Angus Energy Holdings Ltd. They will pay it to Angus Energy Ltd. That’s what we’ve pointed out. At every stage the auditors are being paid part of your investment. We’ve also pointed out that the office costs seem a little high in the operating company in Scotland. The Directors are, it seems, all to be found, when they are, in the Chiswick office which, as I myself have mentioned, is quite nice (the office, not that the directors may be found there, when they are. Though that would be nice too).
The Angus energy interims are due on Tuesday, I think. They will add clarity to the picture, no doubt.
highroller - I did no such thing, be careful.
As per page 47 of the Saltfleetby CPR:
AEWB No.3 Limited's tax losses at 30/09/19: £15.64m
At total tax rate of 40%, value to ANGS: £6.256m
= 1.16p per share
very disingenuous of you! made a meal of subsidiary company accounts and spreading false information about labilities. The obvious fact is that the subsidiary reflects the money owed to the parent company and this will be repaid to the parent TAX FREE when production starts (upto full utilisation of tax losses). The true liabilities of the company are reflected in the consolidated and audited company accounts which ignore intercompany balances.
Deliberate distortion of facts is deceitful at the very least. looks like I have to add you to my filter list. Its pleasant to see a long list of greens.
" ill-informed and deliberately misleading posts "
" Balcombe and SF will be producing this year."
Anyone that can put those two statements in the same post has to win the ironic post of the year award.
former/new shareholders will pile in on consistent delivery by the company. we are much closer to realisation of revenues and the barrage of negative, ill-informed and deliberately misleading posts confirms significant interest. Balcombe and SF will be producing this year.
Bring on the overdue news.
a pleasant surprise may be Brockham production from the portland. it should produce as much as ukog.
PPS: what I think UKOG also shows is that former shareholders, of 2 or 3 years ago, can pile back into a stock once they become convinced it has touched bottom.
Like a bat signal? What sort of signal are we waiting for? Paperwork done on time? A profit? Explanation as to why the rent has suddenly exploded in Scotland?
I wouldnt for one second suggest anything improper is going on though. Seems very plausible to have offices dotted round the country. £400k rent? This could be money well spent. If you work there.
PS: and the extraordinary thing is that, when they are satisfied the signal has been given, they all tend to come on stage at the same time!
What is relevant to Angus is that there are very many PIs out there who do not participate in this, or other, board(s), but who are waiting in the wings for some kind of a signal to come on stage.
Is off topic for this board but I bought a ton (for my trading style) of ukog too. I am up 75% there so far and I expect a a lot more than that,
I am slowly averaging down on Angus too ... whilst is cheap.
It's off-topic for this board, but, no, it is not clear to me what suddenly triggered such a rise in such big volumes. For myself, it's, above all, because the stock was oversold.
ocelot - I know you are present on the UKOG board so I am somewhat surprised by your statement that it's not clear what trigerred the interest over there. You ought to know that.
On 05/03, the day of the Saltfleetby CPR, ANGS surged upwards to about 1.25p, in volume approaching 30% of its total issued capital, before coming off at the close.
These last few days, UKOG has gained about 75% in very big volume and it's still not entirely clear what triggered the sudden interest.
Could something similar happen here?