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ED, as usual you misrepresent things. Yes, EA permit is crucial or this is going nowhere. The market knows this and has undoubtedly priced this in. However granting of approval by the EA categorically does not guarantee project success.
HITS
For once your more optimistic than me! Moronic fool!
EA permit approval is NOT A gIVEN.
If APPROVED it will convert the standstill project into a moving REALITY, as all NECESSARY permissions to develop an onshore project would be in place.
I await this, as too many others!
Yes the EA permit is a must-have, but I don't believe there will be any issues with it being granted (providing ANGS has made sure it's ticked all the right boxes). IMV, that's pretty much a given.
Now we've been made aware of a yet again updated schedule, including the new "news" that the sidetrack now won't be drilled early (utterly unsurprising, given there was next to no time left to do so and the site is still nowhere near ready), as ever it solely remains about...
How much gas and by when?
Everything has a risk.
The selling is relentless of late.
I suspect a large number of funds under 3% notifiable are selling.
Sector gone to pot.
Just have to wait for materiel progress.
The Permit is Materiel.
EA permit is due soon, Angus stated 17 December latest. There is no reason to deny the permit, didn’t’ t Angus say that they submitted the additional info that EA requested?
BA even Lucan said 1.6p is somewhat a near term return (irrespective of the term near term).
Options for Directors 1.50p level
Hit 1.55p numerous times in the past.
1.6p is still dirt cheap.
Traders dont have patience and have already or will continue to be selling out.
EA Permit approval/denial key now!
Spot on BV, fully agree. However, I don’t think there is any worry about Angus selling SFB … is just rumour. Only a fool will sell SFB at this stage.
Ech. I would rather GL prove to the world that Saltfleetby is an excellent asset with further upside. This will in time increase the SP and give genuine shareholders dividends. The Hedge is targeted to be complete by September 2023 if the field is successful, if traders got in at a cheap price they will run for the hills at 1.6p. Angus have been sat on this nest for too long, i'm now waiting for the egg to hatch and reap any long term rewards.
BV
I am looking at it from all directions.
AAOG were definitely thinking about buying SEL (49% side) 25% stake in Saltfleeby earlier this year.
So there is clear interest in this gas project.
Also Gas Prices have 4x bagged since Angus Energy bought the stake a few years back.
We have a decent funding profile and pre-hedge spot price advantage to reduce debt burden and generate cashflow prior to July 2022.
We had deferral of the Convertible Loan Note albeit at a 11.2m dilutive share cost to pay for that.
We had a CPR done in October increasing NPV10 by 52% even though Angus Energy stated in the Website Q&Q there was NO NEED to produce a revised CPR (who asked for that?)!
We have considerable negativity by past SORE LOSERS here, LOCALS and yes BROKERS who run the book shorting the living daylights out of this.
I believe after 5 years of hurt here for many, this can rise from the ashes.
COPL Art done this, after delivering Sweet FA.
Can Lucan and the old guard who I believe still haunt the board pull off a decent outcome?
I believe and hope so.
All those selling today good for you.
Ill stick not twist!
Ech I see what you're saying but Angus will still not have a success under their belt, and even having cash cannot speed anything up in this country of red tape.
BV looking at the abuse online with severe deramping and negative posters on Angus, a few other AIMs have the luxurious title of infested BBs with Shorters/Losers and Local NIMBYs.
Here, selling wouldnt admit failure, selling would allow the Team to rapidly accelerate GEO opportunities and do with Lidsey what they shouldve have done long ago.
Those stuck at 5p+ is a long way away. Saltfleeby could return them there, but it needs the project to be accelerated. Sidetrack or no Sidetrack the prospects are better than 1 year ago!
Yanis. I'm a Yorkshireman and we have long pockets and short arms, but even I managed to find the bottom for my top ups LOL!
Yanis,
Where we are today?
A deferred sidetrack
Equipment delivery clearly now in Dec-Feb but we are in DEC :)
Sellers (small funds/retail)
Poor markets in general
UKOG - EDR sitting on multi year lows
Sector out of favour
Covid lurking
Keeps gas prices elevated
Makes Saltfleeby valuable
FACT: Anglo African Oil and Fas WERE LOOKING for 25% stake at £8m making total potential value £32m region!
Ech. selling up admits failure and Angus would be laughed out of Town on their next project which is at least 18 months away. What would they do with the funds, just keep the lights on until the Geothermal permissions are granted.
BV, I been averaging down for the last 4 years lol. I will feel better when I see them dipping in their pockets and buying some more just like we did. After all GL promised to buy and hasn’t done so yet. They should buy and show some solidarity with us :):)
EchDelta, the “up to the directors” was in response to my reminder IQ. GL promised to buy.
Yanis
No, he said he believed there could be but up to Directors.
However, lets see what happens.
An asset sale now would be good all round.... why? Inflated prices in the gas, means someone could come in, no hedge, more horsepower and make a nice revenue!
Yanis. I thought that might you feel better. P.S GL might have to run it past the boss first LOL!
BV, spot on lol. They can join the long suffering long term shareholders by averaging down, they can do the same.
EchDelta, as many times as it takes - George Lucan promised to buy in response to my question at the Proactive one2one presentation long time back. Is time to honour that promise.
Ech. Mr Hollis recently spent 10k on the open market.
Yanis. The good thing is, the Directors are all under water and could average down.
Yanis how many times?!
They have options at 1.50p 11m worth between the Directors
No way will they buy
Fully vestable at 2.0p
As for today typical market - seller still firmly here!
It is time for the directors to send the market a clear message that they believe in what they are saying - Angus is indeed undervalued.
It is time for the directors to stand by their promise months ago to buy shares on the open market - George Lucan promised this in the Proactive one2one presentation long long time ago.
Will this promise be fulfilled or will it be another failed promise?
It is time for all directors to buy in the open market and send a message out there about how undervalued Angus is and further align their interests with the long long suffering shareholders.
After all, this a “value” play and they cannot loose. Win-Win.
George Lucan, honour your promise please.
Promised months ago and no serious buys happened yet. George Lucan promised this in the Proactive one2one presentation long long time ago.
Will this promise be fulfilled or will it be a failed promise?
It is time for all directors to buy in the open market and send a message out there about how undervalued Angus is and further align their interests with the long suffering shareholders.
After all this a “value” play and they cannot loose. Win-Win.