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Actually I suspect they just don't know what will happen - right now why kick in £ 3mm more if you think there is the slightest chance of things not happening to plan?
It's like he's a bot, filtered, there is no credibility to this constant bashing.
Just filter the crap out
On 13 Jun , all resolutions were passed . the Company has the authority to complete the conditional subscription. In fact, 15 days have passed and Angs has not completed the conditional subscription. The only explanation is that Aleph already knows that SFB cannot produce commercially valuable gas, so Aleph did not subscribe for the second tranche of £3,000,000.
Mr008 , what problem ? Your posts are blatantly inaccurate and how you're getting away with such stuff that could be deemed as market sensitive is beyond me.
So far, Angs has released no information about finally live gas testing with well-head gas. So, it seems the problem is serious.
GL stated that we would receive a tweet on progress 'pretty much daily' in his interview over 2 weeks ago, yet again he stated something he hasn't done. He couldn't give a rat's backside about shareholders but most of us couldn't give a rat's backside if he does or doesn't update us daily, but if he doesn't he should not state these things during interviews as leaves himself open to legitimate criticism if he fails to do what he says.
As long as the gas flows asap, we can start paying the hedge and then hopefully we see a credible offer come in to buy us out (my preference).
All the best
If there is a problem with the gas well and the gas production has no commercial value, then such problems cannot be solved quickly. Angs must spend time negotiating and negotiating with stakeholders before issuing an RNS.
That would be nice.
I doubt they'd RNS that all testing done.
We'll just go straight to "Gas now flowing"
I think all ground equipment installation and testing should have been done. Now there is a problem with finally live gas testing with well-head gas.
HITS, I guess you haven't watched GL explaining about the subsciption being worked on in the background for the two 20% holdings, all will be revealed shortly along with the Board members.
I think it should be easy to fix if it's an equipment problem on the ground. Now that the first gas is delayed for so long, it should be the problem of the well. Perhaps the gas production is not up to commercial standards.
Mirasol a troll for the loan company.
Marisol, nowhere else in the world would anyone regulatory authority have taken any notice whatsoever, that Angs entered the wrong well off the same drill pad, it was just pandering to green wokeness trying to screw Angs over, if the correct well had been entered, it’s conclusion would have been exactly the same outcome, all rather petty and sad really, the whole debacle.
ANGS was compelled to sign up to the hedge by the lenders in order to get the £12 million loan that it so desperately needed. Hedge agreements don't have "get out of jail free" clauses - just like horse racing bets don't have "your entire stake returned if you lose". In fact ANGS clearly states the (then) first year's financial liability on the hedge in its most recent set of accounts.
"Why Aleph hasn't subscribed for the second tranche of £3,000,000?"
"they probably have it just hasn't been RNSed. You don't have to confirm something that you have already stated is happening."
However what a company absolutely DOES have to RNS is when there's been a change in its number of shares in issue. For Aleph to be be able to take that second tranche of shares for £3 million, the ANGS board would need to have newly issued a further 273 million shares, using the authority granted by shareholders two weeks ago.
That would have taken the number of shares in issue up from 2,283 million to 2,556 million. It would be compulsory to communicate such an increase in shares in issue... this has not been done... therefore to date Aleph has not taken up the second swathe of placing shares.
"A deal to pay even if no gas would be suicide"
that is the issue - remember this is ANGS we're talking about - they thought they could use second-hand kit to redevelop the field, they re-entered the wrong well at Brockham...... competence should not be assumed
You but revenue for the long term, 3 year is only 25% of the life of it. Buyers of a certain type buy long term revenue, but you know this already as a shareholder ... or why would you be one.. right got to dash, its been a fun morning as usual but weirdly enough I also have a job ... SL
sorry M but hits et al are posting as if its the opposite, don't see you questioning them as a share holder? A deal to pay even if no gas would be suicide and not one I've ever heard of or been involved It doesn't happen. So mine is the most likely scenario. We haven't seen the contract but it would be completely one sided to if the were the case knowing that without gas you would still be liable, you would be better of not hedging at all, less risky. No-one has seen the contract ....
", we weaned a huge premium of we sell SFB which I recon will be back on the cards soon enough "
But most of the gas is hedged for the immediate future - there is no upside until the hedge is finished - stuck at 40p a therm for almost all the gas for several years
aah Gotham - newbie whose only other interest is CON - a financial genius I guess
"of course there will be a clause for delays or worst case scenario,"
Evidence? No-one has mentioned it to date. Why would the other side of a hedge sign such a deal?
Ask them and then post the response you get on here. Good luck.
Thats your opinion not a fact. Back it up?
Can anyone explain that why Aleph hasn't subscribed for the second tranche of £3,000,000? The only explanation is that the sfb project has run into difficulties, so Aleph did not subscribed for the second tranche of £3,000,000.