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I hate to disappoint you and the fevered images you seem to like conjuring up, Maddog38... but actually the ANGS share price is performing pretty much exactly according to what I expected.
As I've been saying for a fair while, I'm not expecting this to move much at all until late Q1 2022, at which point we may get independently confirmed news (good or bad) on obtainable gas volumes from Poundland. I can't think of anything that's liable to affect the share - positively or negatively - until that point.
hit/ was you up late last night reading the book of tales and woo,
and did you have night meres seeing this share coming good and woke with your head down the toilet.
Correct, GJ. I escaped the ANGS lobsterpot a couple of weeks back. No I won't be buying back in again, primarily because I now know the only way to get any return out of ANGS and similar is to short-term trade it... and frankly I can't be assed to do that.
However, I've (very definitely) paid for the right to be able to give my opinions on ANGS (all based on direct personal experience of this stock over a good length of time). And I am most liable to do so when the short-term boys start trying their rope-a-dope "5 bags coming!" nonsense. Feel entirely free to ignore anything I may say, of course.
HITS, I thought you wasn't invested anymore? Let it go pal and spend some time on shares you are involved in. Unless you are deramping to get in lower?
Donek. I don't see it either, but we have a tick on the Angus media which is strange. It probably isn't uploaded yet.
BV - cant see a new vid?
Video out
Rubbish. What the lenders believe (as all lenders attempt to make sure) is that their earnings out of any financing advanced are high enough to offset their risk - and more importantly that their risk is mitigated to the maximum degree possible, should the wheels fall off. Clearly the high level of earnable interest and the security offered up eventually ticked enough boxes for the lenders in this case. I don't believe for one second that the lenders are exposed, no matter what occurs (or doesn't) at Poundland. As with all lenders, heads they win, tails they still win. That's the nature of lending.
The price of natural gas futures are - as has been said repeatedly - utterly irrelevant, until such a time as ANGS proves that it can get to first gas AND that the volumes produceable from Poundland are of sufficient level to be commercially viable for the company (i.e. of sufficient quantity to cover fixed, variable and debt costs).
This latter point seems to be more up in the air, since it now seems that Poundland's ability to deliver adequate and commercially viable volumes now hinges on the just approved sidetrack being drilled successfully. Looking at the multiple previous unsuccessful attempts to sidetrack well 7, this certainly isn't nailed on by any means. We won't have any worthwhile inking on these matters until well into Q1 2022 at the earliest.
Lidsey's merely an irrelevance, just like all other ANGS onshore oil "assets". Even if the site did have potential (and all evidence available suggests that it doesn't), ANGS simply hasn't got the resources or finance to engage on any other front, apart from Poundland. The executive management "dream team" are as per usual using Lidsey as a quite deliberate piece of misdirection in an attempt to make it seem as if the company isn't a one-trick pony very definitely already in the last chance saloon.
The same is doubly true of its recent burblings on geothermal, a tactic I note with amusement also recently seized upon by UKOG, that other great AIM oiler success story which is equally currently making one last desperate roll of the dice in its own last chance saloon in Turkey. Geothermal is pure puff and nonsense - it' d take years and tens of millions (none of which either ANGS or UKOG has. At all). Plus as has been pointed out, the UK is geologically hardly fallow ground for geothermal.
Just a desperate attempt to kick the respective cans well into the future and present more fairytales in efforts to have a marketable narrative.
The lenders had no lack of time in which to conduct their due diligence, so believe the probability of success at Saltfleetby is high.
Natural gas futures remain very encouraging for the first half of 2022, before the hedge at 43p kicks in.
Re Lidsey, we may receive an update fairly soon.
Geothermal is for the longer term, but it is clear they are investing a lot of their time in it.
With a billion shares outstanding and 0.4% of that trading on an average day, anyone trading £5k or £10k has an impact on the price, as we have seen from the yo yo moves recently.
With a billion long shares potentially selling into any sustained rise, ANGS is going to need decent confirmed gas flows earning a net profit to pull in big new buyers, the only thing that will move this way higher.
AIM can give that on a wiff of decent news, but the heard of bulls can also get bored and move on to better grazing elsewhere on no news.
Having been in and out here many times myself find this an entertaining small oiler case study, happy to watch for now, good luck to all those are in at present, Poundland on new drill or bust in my view, rest is just PR noise.
Lol we get great news and the share price retracts back……can’t make this up……anyway will be adding more to my holding not bothered……gla
Ha.
Even as I was typing, the SP fell back under 1p at the close.
Let's see what tomorrow brings
Yes, some good news on the activity front.
3 IQ's outstanding to be answered before the week is out too, and hopefully, this RNS will allow them to provide a clear plan for the next 4-5 months at SFB (side-track schedule and main works).
We should get some news on Lidsey during August too (per the IQ 6-8 week timeline).
Let's see if these gains to over the 1p level can hold this time (several false dawns in previous months) .
Feeling more positive here than any time since the Jan funding debacle tipped me into the exasperated and untrusting camp.
Still expect it to be solid (and timely) progress and delivery to giver the SP any sustained boost
gla
Good news or bullet dodged? I wouldn't get too excited just yet.
The fact that permission has been granted for the drilling of the sidetrack is to all intents and purposes a good thing. But one surely has to ask oneself - does ANGS already know that the commercial viability of Poundland solely depends upon a successful sidetrack being drilled? If this is the case, then only the opening hurdle has been cleared.
To my mind, sidetrack permission was essential - and ANGS knew this. But this still leaves the question - what volumes will Poundland produce if the sidetrack is successful (the jury's out on the chances of that being the case, because as others have pointed out, there have been a number of unsuccessful sidetracks drilled from that well already). And what volumes will Poundland produce if the sidetrack also turns out to be unsuccessful?
Basically, how many mmcf are needed out of Poundland in order for it to be commercially viable and cover its costs, including finance costs? We won't know that until late Q1 at the earliest.
https://www.investegate.co.uk/angus-energy-plc/angs/saltfleetby-planning-update/202107261530415009G/?fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=Angus+Energy+PLC%20Alert
Superb news……..well done to LUCAN