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So a bounce back today, all and well and good but a long way to go yet. To get the SP seriously moving north will require them to have a roadmap to generate some FCF, the expectation was that Brockham would do that followed by Balcombe, they have goofed on both counts.
I still think they need to come clean on several areas.
Brockham: They previously indicated > 150 BOPD just from the Portland, now they say 0 because they can't inject due to changed regulations (which they seemed oblivious to previously). They also indicated it was an analogue of Horse Hill now they say it's not. So who in their right mind would buy it without a 'sweetner'. So is it an asset or a liability on the books and at what value?
Lidsey: Previously indicatated a new horizontal well and would produce > 300 BOPD. What's happening here? They moved to 24 hours working and yet production didn't improve? So what's the plan?
Balcombe: Are they so seriously incompetent that they did a 7 day test and told WSCC that "we've all done now thanks"? What oil company does that? What exactly did they say to WSCC and when? Why has it taken the bet part of a year to organise an EWT application for a site that's largely already prepared?
Ocelot, I hope that is the case. Not all LTHs have sold or are selling down here though, the loss would be unbearable. I still have my shares, I am waiting for a double and double again to break even. I believe that shorting is still happening on a large scale.
What is needed is a change in sentiment. Today’s insider purchase might help improve sentiment, but Lucan taking the plunge and buying some shares it will definitely improve sentiment and will also force some shorts to cover.
I been sending quite a few tweets asking Lucan and the BOD to buy some shares, hopefully they will.
Thanks, Yanis. Page 4 gives the share capital at 11/03/19, so, agreed, pre-placing and not up-to-date. I've gone back to the IPO presentation, when issued share capital was 214,980,287 shares, so it's 2.5x that now. It looks as if the principal shareholders have not been participating in the placings, so their % holdings have been steadily declining: Knowe Properties was 21.2%, now 8.45%; JDA Consulting was 14.0%, now 5.57%, JPT was 18.4%, now 4.27% (but that was also last year's shenanigans); Paul Vonk was 7.0%. Result: the free float is much bigger today than it was at the time of the IPO. In answer to your question: as others have noted, there will be no shortage of sellers as the share price recovers (both traders and LTHs).
"With today’s volume we should have seen a higher increase in SP. We didn’t, any idea why?"
all those people on here who said he y were still buying at 1.2 - sitting on an instant gain so selling out now - I'm afraid that it's going to be the pattern on here for the next couple of years - day traders selling into any spike - buying when it falls back
Would be great if Mike Wells took a look at Brockham and decided it wasn't a dud at all. That just flowing fluids around the well and a storage tank was total nonsense. Remember how Angus flooded the bloody thing with acid and nitrogen, must be more to it than doesn't meet the eye. Not mature enough , My ar5e !!! Go on Mike, show them how its done and get this SP flying.
From their website: The issued share capital of Angus Energy plc consists of 538,828,008 Ordinary Shares of £0.002 each with voting rights. No Shares are held in treasury. Therefore, the total number of voting rights in Angus Energy is 538,828,008.
Mike Wells has taken over JTP's position as (non-board) Director of UK Operations. That is what a lot of shareholders wanted, that JTP step down. But what a signing - Premier League stuff. *** Mike began his career with BP at Eakring and was involved in the development and appraisal of many wells in Lincolnshire and beyond including, co-incidentally, the original successful exploration wells into the Portland at Brockham.
Following time with Candecca Resources, Mike was employed by ROC Oil to oversee the Saltfleetby Gas Field (the "Field") and he remained with Wingas UK Storage Ltd on its acquisition of that Field. Mike has extensive experience in field management and engaging with all of our regulators. We are very lucky to have his immense experience in UK onshore to help us as we address reconnection of the Field and recommencement of operations.
betterupthandown calling someone looser make one of you. I hold head high and will try to recover my losses somewhere else. 2 years I was investing here and BOD assumed to be bunch of lairs. That is the true. LIfestyle company we all pay for. . Your small profit (not taken, you risked again buying back) against huge losses for most of investors will not change that. And they might have court case soon as RealAnalyst is fighting for all of us.
If.... this turns into a "sustained rally" able to claw back the lost faith and market value of recent months... then I am sure the "Trolls" (as you may call them) or disgruntled LTH's (as I prefer to call them) will be as happy as the day traders were today :-)
If... on the other hand, this turns out to be shorters closing and the MM's then take it down again as we await "further news" followed by yet another placing in afew months time... then I'm guessing the Trolls / LTH's might not be so pleased...
Maybe not wrong. He is the largest individual shareholder. And I would bet he he has influence over either both or one of two, hence he filed the requisition. It would be good if we knew who these companies represent and what exactly they do.