The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
YL,
I wasn't following ANGS at the time, so lack any personal experience of what happened prior to this Spring.
But wealdpwr's post of 20:11 last night ("... and don't forget this NOMAD was previously fired, and apparently according to LUCAN, plotting w JTP to retake the company") did prompt me to take a look at some of last year's RNSs, the word "retake" being a curious choice.
As I say, it gives the impression of a power struggle between JTP and PV in the 2nd half of last year.
That power struggle was resolved at the beginning of this year, in JTP's favour.
Ocelot...
You, I, Investors old & new and the wider market all know that whilst Tidswell is still pulling strings... catastrophe is lurking just around the next corner... After so many costly failures surely even you cannot see a future here whilst Toxic Tidswell is still drawing a salary?
The RNS of 29/01/19 announcing the resignation of PV, new appointments to the Board and re-appointment of the earlier Nomad, spoke of the intention "to develop the Company's business beyond its current core strategy".
Saltfleetby is the new management.
The new management is, therefore, different to the old.
We have no choice but to look forward here, it just remains for us to see if this "new" management are any different to the old. If Tideswell acknowledges his utter and complete past failure and does the honorable thing and resigns... then we will have our answer and can be optimistic for the future... if he continues to linger... then it will just be more jam tomorrow & a future of failed promises no different to before.
Time for ANGS to decide if they are serious about change!
Brockham, yes, of course, but there's also been the need to lodge a new application for Balcombe testing when that testing was, apparently, already covered by the existing permission.
As I say, my impression is that "Tidswell's coup" was in response to "PV's coup".
The past is the past, time to turn towards the future.
GL.
Ocelot,
I think this year's problems can mostly be attributed to the spectacular failure at Brockham.
If management had succeeded there... Tidswell's coup would have been nothing but a sideshow as we would be at a much healthier company valuation and higher SP.
We are where we are... but - since we've got such a long wait ahead of us now and infinitely more risk attached as the can has been kicked way down the road - I hardly see us being in a better situation today.
This is AIM after all... and we all know what AIM does to companies that fail to deliver and Keep changing their own goal posts.
YL,
Don't you think that some of this year's problems can be attributed to the delayed effect of the company's "power struggle" of the 2nd half of last year?
Imho, it is better for the company's future when all of the company's key players are pulling in the same direction.
Ocelot: "I'm sure we can all agree that the company is in a much healthier position today"
LOL! Take a look at the SP then and now... and tell me you believe that!
I'm relatively new to ANGS, so this may be old hat to most of the posters on this board.
weldpwr's use of the phrase "retake the company" suggests the following, that:
1/ PV used JTP's compliance shenanigans to "take" (more control of) the company;
2/ JTP regained control via the requisition and the subsequent resignation of PV.
This power struggle manifested itself, inter alia, in the replacement (RNS of 03/09/18) and subsequent re-appointment (RNS of 29/01/19) of Beaumont Cornish as the company's Nomad.
I'm sure we can all agree that the company is in a much healthier position today, now that this struggle has been resolved and is a matter of the past.
No. Again, you draw inferences I just don't see. For what reason, I do not know. Your unquesitoning and voluminous postings are indeed curious....
GLA
... plotting w JTP to retake the company.
-----------------
curious choice of word, wealdpwr, to "retake" the company.
Because the company had been "taken" by the previous regime?
Alan2017, agreed...and don't forget this NOMAD was previously fired, and apparently according to LUCAN, plotting w JTP to retake the company. Lucan was on the requisition.
How can we trust the ANGS NOMAD?
Here is the link:
https://investigatingbalcombeandcuadrilla.files.wordpress.com/2019/10/transcript-of-interview-with-george-lucan-of-angus-energy.pdf
The thing that stands out the most from the Drillordrop article is how much power Tidswell still 'Wealds' ...pardon the pun ;)
Tidswell with his Knowe Property connection is the King Maker at Angus and Lucan confirmed this.
While discussing Vonk, Lucan stated "......fell out with Jonathan Tidswell, which is never a good thing to do. Jonathan is not a majority shareholder but he is a significant one."
Lucan then confirms his own lack of experience by then saying "Initially, I was slated to come on to that board as non-executive director just to add some eyes and ears."
"At that point in time, Jonathan, the NOMAD and I had discussed what role I would come in as and it was suggested I come in as interim managing director"
I’m a relatively low-cost managing director.....It’s been a steep learning curve but I’m distinctly enjoying it."
So only Tidswell and the NOMAD brought Lucan in who doesn't have the experience by his own admission, but makes up for that by being cheap. There lies the problem with Angus.....looong sigh
They have a Financial Director in Carlos who isn't qualified.
A Technical Director who also happened to be or still is Chief Geologist at Angus who made the damaging decision to drill Lidsey and Brockham.
You had a Site Manager looking after production who was a Wellsite Geologist (Peter Eadsforth)
And then you have Tidswell who doesn't know his left from his right, alienated the OGA, EA, HSE, Local Authorities and is now tasked with Business Acquisitions for Angus .....when he has no experience.
The old expression "You get what you pay for" comes to mind.....long sigh.