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Great update yesterday, hopefully should translate into positive investor sentiment as sales of first gas are announced.
Regarding the usual culprits, who have no holding but are on here every single day, at all hours, to dominate the discussion; the following statement from ANGS released last year might be illuminating (particularly the last two paragraphs):
"Since 2019 the entire executive Board has been replaced, there is a new Director of Operations, a new Asset Manager across the Fields, a new Planning Officer, HSE Advisor, and EA Liaison officer. The entire technical team, bar one, is new.
Additionally we have moved from the disappointments and exuberances of the Weald oil story into a more diverse transition company focusing on conventional and overlooked oil recoveries from legacy assets, gas supply via National Grid to offtakers such as Shell and geothermal projects in the south-west.
Nonetheless there is a group, clearly acting in concert, who continue to hold the company responsible for null results on drilling operations that either were completed or intiated before 2019, or planning issues, as at Balcombe, which were left in a poor state for the present Board to resolve.
The amount of time spent by this group on the share boards, given they freely admit that they are not shareholders, is surprising and we can only presume that they are either professional share board (de)rampers or retirees.
Judge of them as you will, but there is no law against misrepresenting information. We do monitor the Boards for gross libel otherwise continue to support freedom of expression and hope that these individuals, whether in their twilight years or not, find some more useful and rewarding outlet for their energies elsewhere on the AIM, ideally where they do have a financial interest."
good post.
"The amount of time spent by this group on the share boards, given they freely admit that they are not shareholders, is surprising and we can only presume that they are either professional share board (de)rampers or retirees."
I'd add to that the possibility that they bought in at multiples of the current SP, sold below a penny and can't see a way back for themselves as have little or no funds to buy now, hence harping back to the past continually as they don't want to think the company might now be going places and they cant be at part of the future at these prices. Still, even if this is the case, buying or selling at the wrong time happens to the best of us, but take it on the chin and find other pursuits outside of this now crazy obsession.
if you read drill or drop you only find negative posts regarding O&G companies, so much for ruths neutrality.
in the same manner the merchants of doom are on here 24/7 spouting the same rhetoric.
as has been said previously the rampers and the derampers have ZERO effect on the SP,
next week Angus will be selling gas, that will dictate the value of the company.
Even then, our resident merchants of doom will still be here spouting on about something else, and good luck to them, i am sure it gives them some purpose in life.
ultimately cash is king.
DyamFoolMan,
to be fair, it is hard to justify yesterdays update as great news..
Positives:
>they finished nitrogen testing and passed
>starting into commissioning with gas..
>are expecting higher flow of 1.65/therms a month
> expecting to produce 5 million therms in q3
> no issues reported and progress continues
> SP went up a little on a spike
Negatives:
> another 2 week delay to completion
>another missed deadline
>another RNS with no explanation as to why the deadline is missed
>another 2 weeks lost revenue
> SP now back down to where it was prior to update
>Still no RNS re the second tranche of the placing
> another twisted truth as the 5 million therms in q3 is based on 1st July production, even though 3 lines above that in the RNS, they stated 7th July as earliest target date for sales.. why not just state approx.4.6 million therms from 7th?
The cheerleader parade can argue that another 2 weeks doesn't matter, which is fine if it doesn't matter to them but that does not mean it doesn't matter to others.
If the cheerleader parade are happy to accept the delays & missed deadlines, good for them,.. it doesn't mean others aren't entitled to be frustrated and ****ed off by those delays.
Similarly for the lost revenue, (£7 million in June anyone??),
similarly for the SP, as some here are under water and some here already doubled their investment.,
What annoys me most is the BOD's absolute refusal to drop the PR spin and build some creditability.. and I know the primary way to get that done will be get SFB up and running, but it certainly would be no harm, possibly even beneficial, if they adopted a more clear, concise and reliable approach to communications, rather than Q1 gas and 5m therms for q3 when it will be now q3 for gas and they only expect a maximum of 4.6m therms for q3 because don't envisage getting sales until the 7th at the earliest
and in the mean time SB .... . ''Methanol tanks being prepared for first gas delivery since 2017"
all this is just noise now, those who bough recenlty know this is worth multiples and that all that matters, buying at the right time, history is history - with all due respect I only ever skim these posts now as you know the content before you read them. Congrats to the team and bring on the gas and the buyers will come, probably in the 3s and 4s if they don't get in very soon .. but still a bargain.
Silverlight,
I don't understand what you mean by
"and in the mean time SB .... . ''Methanol tanks being prepared for first gas delivery since 2017" "
I didn't mention that??
but you have demonstrated by point with the rest of your post..
you don't see the current SP and delays etc as an issue, which is your position and you are entitled to, which is a reasonable position to take given you got in low/right time and are sitting on a profit. (and good for you by the way)
but it doesn't entitle you to dismiss those who dont see it that way, who are sitting on a loss, holding hope of getting out with out a loss and are frustrated with low SP, delays and the fact they cannot rely on the credibility of company communications on which influence their decisions making.. those are valid concerns, reasons to be frustrated, in my opinion,.
There are some on this board who, if GL released an RNS saying he was swapping all the assets for a handful of "magic" beans, would tell you it was a great deal.. ignoring the negatives doesn't make them go away or any less relevant..
". ignoring the negatives doesn't make them go away or any less relevant.."
I should have added that banging on ad nauseum wont fix them either
SB ive sat on many loses believe me, and taken some huge hits. However I tend to either sell up if I don't believe or continue to hold hoping to recoup my loses WITHOUT posting negatively on forums, it doesn't help anyone and certainly doesn't encourage new buyers so don't see the point. 5m a quarter is above and beyond expectations and will be coming out the ground in a week or so, be happy. You will no doubt get your money back in the weeks and months ahead which will enable you to move on to a share you are excited about and believe in. I wish you luck. must dash. SL
When ANGS had 51% of SFB in the week before the 'value accretive deal', we could sell our shares for over 1.40p at times in that week.
Now we have 100% of SFB which is effectively twice as much of the asset, we can sell our shares for 1.15p.
Only in the eyes of the permanently deluded does owning twice as much of an asset directly translate in to a good deal when you have less value than you did when you owned half of the same asset. That's like ordering and paying for a main meal and then being talked into a 'special' with an additional dessert, cheeseboard and after dinner cognac and when the waitress returns all you get is a side salad.
Pay twice, get half. Genius!
Yes, once gas flows and is sustained the share price 'should' go up, and as long as GL doesn't draw the dilution pistol from his holster we 'should' be able to sell our shares for more than we can today, but that doesn't make the current performance and consistent delays a cause for rejoice.
Get us sold, get GL and the rest of them away from the company bank account or there'll be more pain to come.
All the best
"Only in the eyes of the permanently deluded does owning twice as much of an asset directly translate in to a good deal when you have less value than you did when you owned half of the same asset. "
beautifully summed up
IGNORE ALL - its actually the opposite, we will make a fortune off the sidetrack owning 100%, (even hits admits/knows it) millions p/a more more than we paid for the asset in comparison, Tyrga may be a more sophisticated troll than M, but a troll all the same, they are both in at somewhere between 7-10p (if at all). fed up of this fight so going to hope LSE do there job going forward and ban where appropriate. You can't keep running a public forum and allow this.
id suggest you refer back to recent interviews for the value of the asset v what we paid for it. Deal of the decade. (SP dropped based on the great unwashed seeing 'placing' as always but value with shine though).
And with the price of gas going north, the deal will look a bargain very soon.Restocking of reserves all over Europe and UK will raise the gas spot price very fast come august…
@SL, going by threads and posts being taken down today, I would guess that Admin are doing something. Can only guess that some are getting quite agitated as 1st gas gets ever nearer. Though I am a bit confused if some of the trolls are in at or around 7p why would they pull the company to bits? Ramp or at least keep calm, gas is coming and 7p could be in the rear view mirror for all we now?...There we go... Keep calm, gas is coming.
July: 177p
August: 248.45p
Is it tomorrow the front month shifts to August?
https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253321
probably more out of anger that people bought below 1p and not having the funds to buy more, an odd way to operate I know but some people would rather not see others win big for themselves to break even, despite the fact they are faceless avatars they will never meet! im just trying to piece together the mentality of some, I may be well be the mark with this but its difficult to find other explanations. More than likely they don't hold any now but did and sold at a large loss. who knows the metal state of these people. I really can't hang around in here any longer though, back to the warm buss of telegram for a while at least. SL
Silverlight, you say:-
"we will make a fortune off the sidetrack owning 100%, (even hits admits/knows it) millions p/a more more than we paid for the asset in comparison"
I don't "admit" it... it doesn't need admitting. If George achieves a production-doubling sidetrack kicking by say Oct 1st, of course ANGS will benefit from many, many £ millions of revenue more than it has ended up paying for Saltfleetby. That's just a matter of the most simple maths and has always been glaringly obvious and never in dispute.
Back of a fag packet... Saltfleetby has roughly cost ANGS £14 million (loan plus interest) and a further £14 million (acquiring Forum's 49%). Call that £30 million. With a successful sidetrack as described above and even after paying off the hedge differentials over the next three years, ANGS would benefit from well over £100 million of gross revenue during that 36 month period alone.
The result of that particular "what if?" is not in any doubt, if it is achieved - but that's never been the question, though.
Well over 100m gross is underselling it by a mile, 1.5/mth x (ill call it x3 quid a therm likely much higher on average) x 12 x 36 months is £162m. I know you use much lower but most agree it will be much higher. I recon you're at more like 200m. Huge dividends expected as per the interview and demands of large holders. Personally I expect many many k's a year in dividends if continue to hold. IF that is, take each day as it comes ..
I use the ICE gas futures pricing, which is what ANGS also claims to use. If I were to speculate, I'd say that (Putin dependant) future gas pricing is indeed liable to remain higher for longer than ICE currently shows... but might as well use a third party accredited number.
But the real questions are (as I am sure you'd agree):-
Will the two existing wells consistently produce 1.65 million therms a month (= 5 million therms a quarter)?
Will the as yet to be attempted sidetrack be successful and if so, what consistent increase in production will it cause?
That's it in a nutshell. And anyone's opinion on the answers to those two questions will be driven by the amount of confidence they're prepared to place in George and his various statements, promises, predictions and assurances.
It is literally no more complicated than that.
Mind boggling numbers there SL, and in reality we just dont know, or do we? One thing is probably for sure, this will be transformational for the company, from a prospector/explorer to a producer with possible asperations to enlarge.
It could be a very exciting ride from next week. Certainly better than being doom and gloom. GLA
A re-rated share price would enable management to undertake accretive acquisitions (given that such opportunities are likely to arise).
Wonder if, either after first gas or after the sidetrack, management might not undertake a roadshow, to present Angus to the investment community.
So what price when rns kands gas is commercially glowing. Im thinki g 2p then after a month 3.5p
Ocelet...maybe they could put in a low ball offer for SOU?
Lol.
only 2p , what about the other assets . i think thats very very very conservative