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My own concern is a simple one, to try to see my investment appreciate in value!
There seems to be indeed to be a lot in common between us. We both seem to have an intense dislike for the actions of previous unscrupulous rampers on this BB.
I however wish to see members of the BOD past and present held to account for there actions by the relevant authorities. he wishes everyone to forget recent unacceptable management actions as may put new investors off from investing despite being genuine factor in any investment case.
I, however, have held my position and have not resorted to the tactics of playing the man not the ball by spouting bilious insults and innuendo towards the others with a differing view as this gentleman has resorted to despite apparently being appalled when others act in the same manner towards him. This can be seen BY his constant calls of action to be taken by the moderator time and again over his short but busy time on this BB.
It does mean that, in Ja51 and Steptoes, the board benefits from the presence of 2 knowledgeable posters about ANGS.
They may have come to different conclusions about the company's prospects, but it is for each PI to form his/her own conclusion (which need not be definitive, of course).
Thank you for this information, too, Steptoes.
Had realised you have been following the stock for longer than your registration with lse (!), but didn't know your involvement with ANGS goes back as far as it does.
PS: I'll just make an additional comment:
I hadn't realised you had lost money in ANGS. Having arrived on the board in the Spring of last year, and given the way posters congratulated you for getting the stock right, I had assumed (mistakenly, I now realise) that you had always been negative on ANGS.
Early 2018, by the sounds of it, after the Balcombe purchase.
Thank you for responding so fully to my question.
Well, its difficult to put an exact date on it Ocelot. I was in quite early and put up with JTP drilling the wrong well. Then stuck with them for the Brockham drilling without PP. Still kept the faith when we ended up on the front page off the Times and on the BBC news! (Believe it or not, Angus even lost an Ofcom appeal they made regarding that) Even Accepted Lidsey original results without complaining! Then the lies misleading interviews false RNS,s started. Finally, I started asking questions on here after the Balcombe purchase and was virtually hounded off the board! That's when the alarm bells started ringing and I sold out.....I wouldn't say i hold a grudge but I would admit to a certain amount of schadenfreude to some delightfull individuals i have locked horns with on here however........ a couple of new ones spring to mind.
A number of posters have congratulated you on getting this stock right, Ja51.
When did you lose your £5k in it?
The Riverfort convertible loan of 25/10/19 produced £247,500 more than required for the Brockham and Lidsey abandonment reserve account.
JPT's repayment of his loan in full should have produced more than £210k, including all interest due.
In theory, they can draw down £250k from Riverfort twice during the 1st 6 months of this year.
It gives the impression they are managing their cash resources with care.
He can take it out of the £5 k they lost me already then!!!
And yet they have!!
From note 11 of the CLG meeting of 28/08/19:
The Lincolnshire gas field represents very good cash flow so they will not need to fund
raise.
https://balcombeparishcouncil.files.wordpress.com/2019/11/angus-energy-clg-notes-28-aug-19.pdf
Time is money!.....and they are running out of both.......there lies the problem
So, if loan and interest repaid, 100% complete.
If loan only then it's circa 92% repaid?
Of course the interest should be accounted for, but not exactly massive in the grand scheme of things, no?
The important thing is the persistent few demanded for months that this loan be repaid, the company committed to seeing it was by year end, and it has confirmed payment 'in full', and on time (give or take a few days - the announcement may have been late).
The 'in full' implies principal plus interest. Clarity would do no harm, but it will be shown in the accounts, if not confirmed before. Agree with LLTM's 15:45 post too.
For me, this action point, along with the implementation and monthly update of the IQ's on their website shows the company is making an effort to progress, and move away from the old management methods, be more transparent, although for some they just will not admit that the management and focus is different to the previous regime.
Balcombe and Saltfleetby will ultimately be the yardstick to measure the new regime by though in 2020.
gla
Steptoes / CL
Do you feel you need to respond to everything ? I wonder why. As in this case as all others, what are you afraid of? There is not a single post suggesting anything dodgy happened - except for the knee jerk reaction by rampers .
There are plenty of posts by private investors calling for responsible management action and for the loan to be repaid given it is the proper and professional course of action. Now I'm sure we will hear about granularity from the new ramping cohort. Given there are no facts that make ANGS investable, granularity is all that is left. Investors would love Lord Lucan to prove this is not a lifestyle company, nor that he is a lackey of JTP - rampers obviously included.
Please save your faux indignity about narrative for when you have facts. If you think mate's rates are dodgy then so be it.
Bottom line, if they can't be bothered to make an employee pay interest on investor money, it says a lot more about the company than anything written on this board.
£6k was the interest accrued in 17/18: total accrued interest at 30/09/18 was £9k.
See last published annual report, p60, note 26: accrued interest on loan is £6k. Accrued, therefore, not paid.
Sorry, let me correct my error: interims are to 31st March, financial year-end is 30/09.
The last set of published accounts showed the interest he was due to pay at that time.
That's not possible, LLTM, the financial year ends 31st March and the loan repayment RNS was just published on 7/01/20.
Steptoes / Charlie London.
Your ramping and insults reveal it all. You have made it clear repeatedly facts and intellect are not your cup of tea. Sigh.
I was quoting the RNS, as my following post showed.
I think you'll find it is your statement, "The facts are JTP has only paid in full the PRINCIPAL", which is wrong, but the company's response to a question of Ja51's should settle it definitively.
Postalot
How is 200,000 in full? Your figure does not include interest. The RNS made no mention of any interest. The facts are JTP has only paid in full the PRINCIPAL.
Repayment of Former Director's Loan
Angus Energy plc (AIM: ANGS) announces that the loan of GBP200,000 made to former director, Mr. Jonathan Tidswell, has now been repaid in full. (RNS of 7/01/20)
Yes, in full.