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What do you mean by that? Can you explain this please?
Conformation statement 2024 .
He must have a plan ?
Ok :)
Happy new year Joe I am just fine. Don’t write this off just yet, this month we should get the annual confirmation statement and end of year results ( which we’re delayed for six months) which could give us some idea where Mr. Forrest may take us.
AEX… what year (:-)
Hi, how are you doing? I have written my modest investment off here, I had high hopes! Thanks for watching the shop here lol.
Aminex spudding in March...you getting back in?
Just looking in after some time and good to see some regulars such as oofy, irishmouse and petroleum are still about. Paul Forrests Saltfleetby project appears to be paying off so far and I wonder what his plans are next.
From the Qand A response from ANGS about their lack of plans to buy AAOG, to be fair I don't think they could or would say they had such plans even if they did. Commercial sensitivity and all that.
The prospects for our AAOG investment lie in the hands of Paul Forrest and his friends. It's still as murky a situation as before, but there is still hope for a resurrection this year.
All the best, and hopefully a Happy New Year for us all.
Z
I hope everyone has a safe, peaceful and happy new year. Maybe just maybe next year could be eventful for us at last.
Thanks for the reply! I thought that was the case, I kinda hoped I was wrong :)
Sorry to tell you that at this time you are unable to sell your shares here as they are not listed on a trading platform and have zeroed value. However things could change in the future. Hope that helps.
Sorry for the dumb question, but I've never had to deal with cancelled shares before; is there a way to "sell" them at all?
I bought them using my ISA with Barclays but now I need some cash flow for a different investment: any way I can get (some of) the money back?
Thanks to whoever replies :)
MrEMC2 - Thank you and very much appreciated !
Hi Merlin, Well, the company is still registered at Companies House as 'Active' and has a £42m tax loss allowance on books so it is not completely dead and cancelled.
Very long wait to see whether Paul Forrest (who has taken over the helm from Sarah Cope) comes up with any ideas for the use of the tax loss allowance which might benefit existing shareholders.
https://find-and-update.company-information.service.gov.uk/company/04140379
I'll be honest I've lost track here- but are we totally dead in the water, or do we have an asset/interest at some future point?
Oofy
Thanks for taking the time!
J
JODO: thanks. Angus’s near term future depends virtually entirely on the success of the sidetrack which they’re about to drill. If it succeeds as they forecast it will, they’re out of the woods and you may expect a useful rise in the share price. If its completion is later than scheduled by more than ten days, they’ll need more money. If it fails, Mercuria will be making the decisions, I should think. So far, Mercuria appears to have been supportive and the Anguish management says they are long term supporters. But we’ve had next to no details of the terms under which the missed hedge payments from July and August (£8mm-ish?) and what part of the loan repayment due at the end of September have been deferred. Meanwhile, Mr. Forrest continues to sell his shares. If you believe the story the Angus management tells, the shares are grossly undervalued. So Mr. Forrest must have something very good into which he’s investing the proceeds of his sales. As I’ve remarked before, Angus Directors are not buying, though they have voted themselves a whole lot of options. If you can get yourself a similar deal - free options that convert at 2p once the price has reached 3p - fill your boots.
I’m no expert on oil and gas drilling. It’s a fact that several earlier sidetracks from the well from which they’re drilling this one failed. The management have a range of reasons they offer for these failures and it seems that they’ve got a host of competent people advising and doing the drilling this time, and better seismic. You pay your money and you take your choice. A cynic or an old AIM hand might expect the usual suspects to engineer a ramp up to 3p+, at which the management options can be exercised and the relevant individuals enriched irrespective of the outstanding loans and hedges. Who knows?
Oofy
Welcome back!
What about the near-term future for Angs in view of your concerns about them invariably missing targets?
Thanks
Mr. Forrest appears to be getting rich, gradually selling his huge shareholding in Angus in the market. None of the Directors has bought shares for well over a year and each of their holdings is very small. He got a sweet deal when SEL sold his 49% to Angus.
It’s clear that Paul Forrest has sold us down the river just like the rest of the board and we will never see any of our money again.
When will the company buy AAOG with £42m tax loss allowance and will you expect problems from the chancellor with any new revised fiscal policy. Asked on 1 November 2022
We have never suggested that we have any plans to buy AAOG – nor do we. As to the Chancellor, we know as much as you.
From today’s Angus Energy Q&A:
“When will the company buy AAOG with £42m tax loss allowance and will you expect problems from the chancellor with any new revised fiscal policy. Asked on 1 November 2022
We have never suggested that we have any plans to buy AAOG – nor do we. As to the Chancellor, we know as much as you.”
Thanks
JODO
What I am about to say could be rubbish but I am going to say n it any way.
Forest keep selling few millions shates on regular basis to keep Angus shares price down
so that when he sell AAOG shares (with £42m tax allowance) to Angus he gets more Angus shares for it. If this is the case he and GL should hurry up and complete the transaction before Rishi Sonak comes to PM office where he will abolish all that as he stated before.
Petroleum
I'm a bit confused here.
For many months now, the future of Angs was considered of great significance to AAOG and generated thousands of words on these pages.
For the past month, there have been several developments which seem to be very positive for Angs and, if the previous speculation was correct, for AAOG too.
However there hasn't been a peep from those who previously very engaged with the prospects.
Petroleum, can you throw any light on this please?
Ooofy seems to have gone awol.
ANGS RNS today
Angus Energy Plc (AIM: ANGS), is pleased to announce that, following a scheduled maintenance shutdown last week, hourly throughput rates through the process plant (i.e. sales gas)
Now exceeds our October target production rate of 6 million standard cubic feet per day with well pressures holding in the high forties. Condensate production has stabilised at or around 120 barrels per day. As previously advised, we will report monthly gas sales figures at the end of each quarter.
Side-track planning progresses apace with a slight adjustment to spud date from 20 October 2022, as previously advised, to 24-26 October 2022 in order to accommodate a potential supply chain issue.
Oofy, come in please!