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A string of late-reported trades each for several million has been shown on advfn, so maybe Riverfort began to sell its warrants yesterday.
Blimey! Common sense breaks out on the ANGS board. That won't last...
Agreed that Brockham and Lidsey are the proverbial dead parrots and not even worth paying half a second of attention to.
Also agreed that the previously much-trumpeted Brockham and Lidsey high risk long shots were under the auspices of Vonk and the previous management...
...AND JTP, who's still there, like the Dominic Cummings to Georgie's Boris. The continuing presence and involvement of JTP - who let's face it has never answered regarding his bizarre share dealings - does precisely nothing for ANGS credibility. I agree 100% with BUTD on this (for the first time ever, as it happens).
I'm now deeply cynical about the "commercializability" of Weald oil in general - as I'm sure both GL and SS at UKOG also are, hence both companies' rapid ventures into pastures new. However, if revisiting Balcombe does not soak up many company cash and staff resources or draw attention away from the only important possible asset (Poundland Gas), maybe that's an okay punt to take... I wouldn't do it though, because IMO it'd be throwing good money after bad. I'd still bet it'll turn out to be non-commercial though.
Nope, it's all solely about Saltfleetby. And on that basis, there'll be nothing conclusive for months.
AIMO DYOR yadda yadda.
There is no way fair value in this has been reached yet. This is just the beginning.
Still a strong buy in my book!
Agreed, gkb47, I'm wondering if they haven't started selling today!
I suspect that those warrants have been exercised already and RNS tomorrow. Lumpy sales in 500k blocks and 750k blocks may be forward selling. effectively all warrants stock is already gone. we may see huge rise in coming days.
Agreed Sageman - if you go back and look at Lucan's recent interviews he even refers to Brockham as a duster and it and Lydsey as "legacy assets". The focus of this company is solely on Saltfleetby and Balcombe and shareholders old and new would do well to remember this.
Vonk (and his supporters) screwed up Brockham and Lydsey. Lucan is making a massive success of Saltfleetby. Balcombe is just a nice exploration gamble with no downside (the oil is definitely there, it is just how much flows).
Those who pretend that any value in Angus comes from Brockham or Lydsey are simply idiots or those who cannot let go of Vonk's dream. They are the past Saltfleetby is the future - as the Shell deal is showing us.
From the 20/04 RNS, re Riverfort:
New repayment dates have been set at six equal monthly instalments between 24 May and 24 October 2020 and, if the Company elects not to pay an amount on the due date, that amount will become either convertible at any time as per the original terms or simply repayable at final maturity. Otherwise no amount may now be converted. 15,000,000 warrants have been granted to the noteholders at a strike price of 1 pence in exchange for waiving rights under their notes.
15m warrants at 1p = £150k which Riverfort can exercise whenever they choose.
Better, your post started well and then lost it! Management are writing off legacy assets . Brockham will not be pursued but Balcombe will as it has flowed. They want cash flow not wildcat exploration. Complete change of culture. Shame Sanderson can’t be replaced at UKOG. With a BOD that wants to build shareholder value.
its the last opportunity to get in cheaply. the pull back was expected. these will b back at 1.5 at least later in the afternoon. sitting comfortably with my holding for the BIG PRIZE.
Just topped up at 1.275 following the pullback from this mornings highs. Reduces my average and is consistent with my view that prospects have changed.
something strange going on. its 1.285 bid and offer
I know anyone would think SHELL got involved with ANGIUS or something.
Amazing how they all come out of the woodwork after months of peace & quiet around here,,, and degsy as well!!!