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……. And a 100% of the income and profits, please include positives as well
"The FIRST scheduled repayment (£1.5M) of the Mercuria £12M Loan is due Sept22 - will SEL come up with their share or is Angus lumbered with the lot."
As Ocelot will tell you ANGS now owns 100% of SFB - 100% of the gas, 100% of the hedge and 100% of the repayments
It surely is - we finally get to reap the rewards and like GL in interview - wants to make this into a dividend paying company- big plans ahead here entering the energy market in both gas and oil at the optimum global time - prices are only going one way and that’s up.
We will look back soon when it’s pounds not pence and think how the hell did people manage to buy in so cheap.
IMHO DYOR GLA BUYTHEDIP
Noel - That’s September it’s May - and yes they will. Will we be making millions on gas and oil by then? Yes we will. Probably make that in a week lol
I see they’ve all come out of the woodwork today! What does that tell you. Close your spreadbet as lads those pizzas won’t buy themselves!
IMHO DYOR GLA BUYTHEDIP
The FIRST scheduled repayment (£1.5M) of the Mercuria £12M Loan is due Sept22 - will SEL come up with their share or is Angus lumbered with the lot.
All that lovely gas waiting to be dug out of the ground! Boom time for Angus holders!
To correct Ocelot's claim, one of the parties involved in providing the debt has so far acquired 273 million shares in exchange for £3 million.
Interestingly, it seems to have already sold 40% of the shares it has just acquired.
"we are within days of g"
those days include 2021, 2022 (March, April , May Mid June-
this company is inapplicable of delivering ANYTHING on time and on budget -other than the salaries of the BoD
"Given this should now be trading in excess of £100m mcap compared to sector peers theres a huge disconnect from fair value, "
You're posting on the wrong board - you should be on BP
Yes and they're also backing a dividend policy, a complete departure from angs of old. A more grown up company emerging here.
Flagstaff TV: @mgrahamwood talks to George Lucan, @angusenergyplc CEO. George expands on the period of busy activity for the company, with the acquisition of the remaining portion of the Saltfleetby Project
Link
https://youtu.be/kiSo-ukNbxA
The provider of the debt facility has just invested £6m in Angus's equity: it is hard to imagine a more convincing endorsement.
Given this should now be trading in excess of £100m mcap compared to sector peers theres a huge disconnect from fair value, I see that closing gradually in the coming days and weeks as the taps are turned on and first revenues are registered with the market, then I see major moves in the share price and an upwards revision as a new reality sets in. There is nothing completely risk free on AIM but buying close to where the institutions have the risk reward is almost definitely skewed to the upside now. Atb
TD - for years the merchants of doom have been marching with their sandwich boards proclaiming, with all their evidences that 'The End is Nigh for Angs'
we are within days of generating serious cash from selling gas at saltfleetby, in addition to actually selling oil from Brockham and selling more from lidsey.
it was june 2019 when brockham was declared a duster from the kimmeridge
fast-forward 3 long years and we are about to make real and serious monies.
GLA
HITS. - The £12M Mercuria loan interest rate is 12% over Libor rate (approx 3%) - so c15% - ie £1.8M per annum, which is now the sole responsibility of Angus - (not 51% as was).
The loan was taken out on the 17th May 2021 - the debt could therefore be currently £13.8M. Presumably the interest payment of £1.8M for the first twelve months has been paid. (SELs’ 49% at £0.882M).
Angus responsible hereafter.
Isn’t that £14M sale more like a £20M sale ??
All well and good, except as several have pointed out, George has utterly failed to honour the content he's volunteered in many interviews, including the LSE one just a month or so ago.
But you never know. Maybe this time and for once what he assures one and all will turn out to be accurate?
From 6 minutes 40 secs - talks about now having the financing in place so retail no longer have to be worried about repeat placings/perpetual overhangs.
Link:
https://tinyurl.com/5e84fca2
Tygra - you make some valid points. I think you have to put into some context tho. Looking back of course this has been an avoid up to now - to be fair to Lucan he only came on board in 2019, in Saltfleetby he acquired the companys flagship asset - was then hit by a pandemic for 2 years, financing dried up, supply chains brokedown, he routinely used placings to get it to a ready state, it became predictable it was an avoid - 'orphan' periods can be hemorrhaging this one was no exception.
However fast forward the facility is days away from first gas, he's taken the question of regular placings and addressed it in the interview from 5 days ago with Zak (listen to it, he needs to honor it)- regards sentiment i think the volume tells you theres significant renewed interest given the managements recent actions and desire to scale to a mid tier well beyond a paltry operation at Brockham and now has the institutional backers to do so, thats a departure from the past. Time will tell but line in the sand here and the risk v reward just became incredibly compelling with a 100% of Saltfleetby first bold move in the right direction. Atb
More dilution as GL has no confidence in delivering gas next month or after. The man and his team is a certified failure. to add insult to injury more FAT CATS will be employed to put an immense burden on the company for the extortionate salaries. And we may have another acquisition of "pie in the sky" to divert the attention from management consistent failures.
JH
I require no lesson or education as to the workings of markets, particularly the workings of AIM and the associated insider trading and leaked placings that continue to be completely ignored by regulators.
My point was a simple point that should be easily understood. This share is tainted by the current management structure and GL's failure to deliver even the most basic of his promises (fortnight for Brockham production figures missed). The 'churn' of shares wouldn't happen if the deals made were in the best interests of shareholders.
The only way this share climbs is when we get first gas and steady, proven production from SFB. I would hope we would be sold but maybe the offers aren't good enough which again is a management failure. If you open an FSP and provide data to willing buyers via a data room, you would expect a more solid offer than a non-commital paper offer of 1.5p from a company that has failed more times than ANGS. That's hardly encouraging.
If SFB is worth what people on here seem to think, it will be cat nip to mid tier producers and a premium offer will be tabled. If we see no offer once production starts, that will mean either GL is asking too much or SFB isn't as good as we all hope it is.
We should be at least at 3-4p once production starts, time will tell if that happens or if another dilution appears for yet more unknowns.
All the best
Tygra for starters understand market dynamics, theres been a lot of churn this past week or so as large investors that are not happy with the new structure sell. Whilst new investors that see excellent value going forward buy.
The price was always going to churn around the placing price, when the supply dries up the SP will rerate.
tradedesk
Whilst I agree with your reasoning when comparing ANGS to sector peers who are valued many times higher than us. The only metric that matters is the share price. Unfortunately for us, a company claimed 'value accretive deal' has resulted in the value of the company as a whole to be reduced significantly. Our market capitalisation was circa £19 million for most of the week 'prior' to this great deal, it is now £15 million.
We have a management team who consistently promise events that either don't happen or are delayed and then delayed some more. GL offers more promises than a politician and fails to deliver in the same manner as those who sit in the commons. The wider market believes nothing until it happens, and even then they remain wary just in case it's some sort of trick like oil tankers leaving site full of waste water when all the rumours and 'in the know' tweets state it's sweet crude ready to go (Balcome).
Sentiment is dreadful based on nothing but the actions of this current (and the previous) management team. The assets we have are actually incredible for a UK based onshore producer. We 'should' be debt free and picking up other assets from distressed companies, but in my opinion we will be forever chasing our tails with GL at the helm because his motto appears to be, 'Dilute First, Answer Questions Later', and until this approach changes, we will be valued accordingly.
Here's hoping for a takeover
By any metric should comfortably be trading in excess of £100m mcap. Look at sector peers, even those with no infrastructure or defined pathway to market. 100% of the asset, fully funded, institutions with huge amounts of skin in the game now. No one can say they haven't the opportunity to load up, now is the time.
HITS - PRESUMABLY Angus bought £6M of debt as well.
HITS, i'm going on the p90 case of the combined company asset mentioned by GL and not liabilities etc. If you want to include the oil assets on top feel free to do so, p.s. have you put your hand in your pocket yet instead of talking about other peoples cash.
BV,
Apologies for not understanding what you meant.
and to be fair, i didn't talk about the hedge as much as list it as part of other aspects of the deal..
i would appreciate if you could explain but if you dont that is fair enough..