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Oil on the up, I would expect the oil & gas sector to enjoy a decent week. ANGS not so much....
02-Apr-24 0.1929
03-Apr-24 0.1910
04-Apr-24 0.1928
05-Apr-24 0.2034
06-Apr-24 0.2018
07-Apr-24 0.1934
08-Apr-24 0.1774
09-Apr-24 0.1701
10-Apr-24 0.1960
11-Apr-24 0.2021
12-Apr-24 0.2036
Ocelot: C4X is in a very different sector and appears to have cash equivalent to its market capitalisation. Doubtless it’s got issues (I haven’t looked at it thoroughly) but it doesn’t appear to share many characteristics with Angus, does it? I think the principal problem with AIM-listed resource companies is that the money they raise when they initially list on AIM is grossly insufficient to exploit whatever interests they have and they have to keep on coming back to the market, sometimes several times per year, for more money. Then it’s still too little. Meanwhile their Directors pay themselves frankly insupportable salaries and perquisites. They often fail to regain their listing price and, in spite of support by mugs in the shape of “averaging down”, “it would be rude not to have a few”(!) etc., they end up at a tiny fraction of their initial price. Some, admittedly, have a spike or two which do provide good opportunities for dealing profits but these hardly justify the listing.
I hope this company gets the support it needs to get it over the line. Other decent companies may follow suit and AIM may eventually consist of a lot of unloved, untradeable dogs. At which point, I should expect the theoretical oversight by the FCA to be discontinued. The UK economy will be unaffected, there will merely be a lot of greedy barrow boys looking for alternative employment. Good luck to them with that - the skills they’ve learned here are not really transferable, are they? Ocelot?
Times, Business, pp48-49 - 2 quotes:
"The problem of weak valuations is behind C4X's decision to take the company private at a meeting on Monday. Clive Dix, its chief executive , said: 'We believe we should be valued at 5 times, if not 10 times what we are and therefore raising money at 10 times the value would be much simpler. I don't think it's to do with the quality of the companies and the science. I just think that the environment, it doesn't work. There's no liquidity" ...
"Gervais Williams, head of equities at Premier Miton Investors, a long-term proponent of smaller listed companies, said ... 'The UK is cheap, but small caps are disgustingly, absurdly cheap' ... Nevertheless, he reckons a broad rally in UK-listed shares is coming, with the FTSE 100 index flirting with a record high. This, he believes, will result in a 'positive virtuous spiral' that will boost smaller listed companies. 'I'm more bullish now than I've been for 30 years".
Wow
Will add up to 35 bopd -- ang have 80 percent not life changing is it . THEY STILL HAVE the bad hedges ? Other debts
£20k buy late on.
Note: Angus's interest is now 80%
Why and when was Brockham's previous production closed?
Re Brockham, from 08:34:
"moving full speed ahead to bring that field back into production"; long lead items ordered, rig put on contract; plan to be doing a work-over in May.
Needs to manage expectations: relatively modest production, not currently set up for 24 hour production.
Certainly, if we are encouraged by early production, we will consider moving to 24-hour production.
Anticipating production some time in late May/early June.
Very exciting for us especially given current oil prices.
Yes, Ocelot, but none of their funds appears to hold any energy shares.
Don’t ignore Montanaro’s ‘buy’ signal for over-sold UK smaller companies
‘Every valuation metric is telling you to buy at this level,’ says Montanaro Asset Management's chief executive after lifting its stake in Montanaro UK Smaller Companies to 6%.
BY GAVIN LUMSDEN
A version of this article was published in the Telegraph’s Questor column earlier today.
A significant investment in Montanaro UK Smaller Companies (MTU) by its fund management company has flagged a contrarian buying opportunity in the investment trust and for UK small-cap funds in general ...
Why not make another prediction? It could hardly be more ridiculous than your last effort.
What will that do to the market cap?
Results of Annual General Meeting
Angus Energy (AIM: ANGS) is pleased to announce that at the Company's Annual General Meeting held earlier today all resolutions were passed.
THERE are, NOT "their are" - mind was elsewhere!
Scroll down and their are some higher prices further out, eg Q1 25 is at 93p:
https://www.ice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5600725
What external factors ? Have you quantum leaped here ?
What "external factors"? You were punting the funding being signed off as being the core reason behind your farcical prediction of a rise in the ANGS SP to 1.5p.
Well, reality check for the afflicted. The funding was signed off, but rather than trebling as per your assurances, the SP has actually fallen a further 30% from the point that you came up with your latest fairytale.
If timing is off due to some external factors then so be it. End game hasn’t changed and you will, with absolute certainty, see 1.5p in the near term.
Onetomany, the guy who assured everyone in January this year that the ANGS SP would be 1.5p or more by the end of March, is doing his best to ramp the unrampable again, I see.
Just for giggles, here's his laughably ludicrous post from 3 months back:-
Onetomany Premium Member
Posted in: ANGS
Posts: 243
Price: 0.50
RE: Positive indicators 5 Jan 2024 14:35
Barney I think once funding terms are clarified and signed then that in itself will have a major boost. Gas I’m expecting to reach 120+ over the coming cold months and a storage partner update also due within Q1.
Take a look at the CPR and the many references to it by the BoD. End of March I expect 1.5p of not more. It’s all upside from here.
Overly conservative Ocelot. Aside from being grossly undervalued today, as clearly indicated by the board, we have so much more positives to look forward to in the near term.
- Brockham flows
- Balcombe appeal result and forward plan
- Revised CPO (I believe)
- Increasing gas and oil price forecast next 6 months
- strong operational cashflow
- stronger balance sheet month on month
- Director share purchases
- Acquisitions
- Gas storage plan development
- Takeover approach ?
The latter highly probable if the share price stays below 1p for much longer.
Oh good, that’s all right then. The only way Angus shares will get back to that level is if we have a very large sustained rise in the gas price. It will have little to do with EV/EBITDA. It will have everything to do with a gamble on gas prices. For which you’d do better in the derivatives market, where Martian levels of capital expenditure, royalties, dilution and unlucky bets by an increasingly expensive management team are not an issue.
CORRECTION of my post of 09/04 at 11:27:
If one assumes the EV/EBITDA multiple is currently about 2x, then a multiple of about 8x would give us a share price of about 1.30p.
I've just pulled up Singhie's most recent post on Angus (of 20/03) and his share price forecast was 1.34p and not 1.51p, as I indicated in my earlier post, so, by different routes, one arrives at almost exactly the same share price forecast.