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HITS: I believe the offtake agreement and the hedges are separate, aren’t they? The difference between the hedge agreements, to the extent that we know anything, is that, in contrast to the Mercuria hedges, which were in place for a limited time, the new ones are permanent, as I understand it. I wonder if there was any price to pay to end the agreement with Shell. And yes, the terms neither of the offtake agreement nor the hedges have been divulged. It was - and continues to be - a wonderful deal that Mercuria negotiated. Angus has been a source of riches for Mr. Forrest and for the commodity traders while the poor shareholders have stumped up at every turn and been rewarded with a share price that keeps plumbing new depths.
Quite correct, Oofy.
One would have thought that ANGS was reasonably flush with cash at the moment, following the recent global refinancing package... but apparently not sufficiently so to meet this first of an endless series of c. £100k monthly debts that it's known about for months in cold hard readies.
Also not helping confidence is that, although we all know the approximate amount of those monthly liabilities (8% of GROSS generated field revenues from the existing SFBY wells), we've not been told a word about Trafigura's agreed offtake pricing under the replacement hedge agreement. How typically non-transparent.
Yes, it has been an ermmm "interesting" journey, to see how they simply undermined this asset from the get go !!
On reality the ONLY (caps for Cinder's) people who made real money out of this are not doing anything for it, GL, PF, the royalties mob and Trafigura...
RH simply just needs to keep it ticking over and THEY will ALL be happy... folk like MildTiger etc can fight over the scraps..
Chickster: I believe HITS is correct and that this is a monthly payment. If Angus continue to pay it in shares, and assuming similar volumes and price of gas, you can therefore assume that there will be a daily excess supply of shares from this source at the rate of about 1.25mm. shares per day, which is quite a lot for a weak market to absorb, innit? I can’t imagine Mercuria wanting to hang onto Angus shares for long. If the financial position here continues to deteriorate, the share price is likely to fall further, which will result 8n an even greater supply of shares from the royalty. A few of us have been warning about this for quite a long time.
More dilution…..speaks volumes about cash flow.
Cinder's, JUST a sore loser, IGNORE lol....
Quarterly
I thin they're playing catch-up on their required RNSes.
Their ORRI payment (8% of gross production revenues from existing SFBY wells) ) is due every month in perpetuity (or at least for as long as ANGS continues to produce out of the existing wells). Presumably if they decide to settle April 24's ORRI royalty in shares as well, we'll very shortly get a very similar RNS relating to that transaction.
And so on... and so on....
Bubbles probably. XR looney! Ignore.
Dealings in the ORRI Shares will commence at 8.00 a.m. on 15 April 2024 ("Admission").
Don't they mean 15th May 2024 - another RNS ltr
GLA SR
Overriding Royalty Interest Payment and TVR
ORRI Payment
As previously announced on 22 February 2024, Angus Energy will settle its March 2024 royalty or ORRI ("Overriding Royalty Interest") payments on Saltfleetby Field production in shares.
The Company will now issue a total of 27,448,470 Ordinary Shares to the ORRI holders (the "ORRI Shares") at a price of 0.3544 pence each, being a 15% discount to the 30-day VWAP as at 26 April 2024, representing a value of £97,277.07 ...
Average number of employees in the year ending 30/09/23: 28 (30/09/22: 23).
Insofar as possible, they will be looking to spread the cost of those skills across a wider asset base than Saltfleetby alone.
One awaits the definition of their development strategy with interest.
Lol Ocelot,
Don't get toooooooo excited, it was just a UT !!
It may be a sign but the devil is in its interpretation!
666,666 maybe its a SIGN !!!
02-May-24 0.1897
03-May-24 0.1850
04-May-24 0.1840
05-May-24 0.1847
06-May-24 0.1868
07-May-24 0.1873
08-May-24 0.1636
09-May-24 0.1684
10-May-24 0.1835
11-May-24 0.1838
On what basis? Because he's a short-term trader spreading ever more desperate BS in a failing ramp attempt, that's what basis.
Remember, Onetomany is the fortune-telling genius who assured anyone naive enough to listen back in January this year that the ANGS SP would be 1.5p as a minimum by the end of March.
Tragically inept and blatantly obvious.
On what basis?
That’s the very point bubbles. Never is L2 so erratic on no volume. Clearly was manipulation to drive volume. I still think there is a takeover approach in the offing.
What fekin games lol,,,, less than 7 million shares traded ALL day, lol... you couldn't make it up, or could you ?? seems some can lol
From the MM signals it looks as though they'll be keeping it in current channel
As you say - news is due so games being played for sure
Weird action. I think plying games ahead of news
No RNS re the judge's Balcombe decision.
Maybe they will mention it in an RNS on another subject, perhaps an update on Brockham (?).
Fully loaded with 5m shares now, thank you sellers. Onwards and upwards from here
Something is happening Tony