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"Please support Angus Energy and management to make a success of Saltfleeby."
Of course - but we're not giving them a blank cheque and no oversight.
LTH's in ANGS have seen too many cases where the BoD and management haven't kept their promises to just become mindless cheerleaders I'm afraid.
We'd ask you to stop the mindless ramping of prospects that will l never come to fruition as well - is that too much to ask?
Is it really too much to ask of critical posters?
Please support Angus Energy and management to make a success of Saltfleeby.
EchDelta,
Agreed, there is a great value in Angus in the here and now and for the future.
ANGS claim on their website that they are "a team of petroleum industry specialists with a proven track record of operational excellence and fiscal discipline meeting the energy demands of the United Kingdom"; so why do they need luck?
Of course a cynic might ask question their 'fiscal discipline' they needed £12m after it first seemed they would be able to get to gas last year without that amount of funding and now some are speculating another placing might be in the offering. Or, it could be asked how exactly they are 'meeting the energy demands of the United Kingdom' if they are not actually selling any energy?
Ocelot
I am asking all including negative posters here to wish Angus Energy the very best of luck to make Saltfleeby a success.
Surely no one wishes it ill?
Great value for me here.
"Have never heard anybody make the case that the stock should be quoted at its current level of 0.90p."
There is no case - it's a market Ocelot - some buy , some sell, some hold. The current price is what it is and all the "analysis" in the world won't change it up or down. There is no "correct" price - just the price
The derampers deramp, but they seem to deramp irrespective of where the share price stands at the time.
Have never heard anybody make the case that the stock should be quoted at its current level of 0.90p.
It's a pure market anomaly.
The case for a re-rate is building.
Towards First Gas.
Absolutely fantastic value for me.
Lets continue together haters and lovers of Angus Energy and wish them so much good luck to make Saltfleeby a reality.
Onwards
"One cannot help wondering why ANGS was so incredibly tardy in submitting its application?"
I suspect they had to wait for the financing to appear - or at least get close. At that point they could actually fill in all the boxes with the kit they were definitely able to buy
Well if its 16 weeks as this latest incarnation of Cuddo maintains, that takes us to start Feb next year before EA approval is granted. One cannot help wondering why ANGS was so incredibly tardy in submitting its application?
Be that as it may, although 100% necessary, EA approval does not turn Poundland from a project into "a reality". The only thing that will make George's last throw of the dice in Lincolnshire worthwhile is for the field to produce enough volume of gas consistently to allow ANGS to at least cover its already incurred obligations (fixed and variable costs, various debt funding costs and of course delivering the hedged volumes) - and to get to that point in time.
So as ever, it remains "How much and by when?" And we won't know answers until well into 2022.
James,
What makes you think 3 weeks? It's 16 weeks normally.
EA permit turns the Saltfleeby project into a reality!
Let's hope any placing is at substantially higher levels on concrete news.
As for equipment delivery from now to January we should be continually updated.
All join with me and wish Angus Energy the very best of luck and good fortune to bring Saltfleeby successfully back online. If they manage to do this and have a decent steady flow of gas brilliant.
"The Q is will GL & crew act in the best interests of the shareholders or for their benefit?"
You invest on AIM and ask this question..................................... we all know the answer
Lidsey was already paid for pre funding. EA permission should be with in 3 weeks after consultation ended on 6th this month. local council has normally 3 weeks to review ( considering almost zero objections) data and grant permit. Coincidentally, EA permission, equipment landing, ground works etc all set to take off end of this month and the SP may get a rocket under its belt. For a pleasant change the company and its shareholders should be witnessing a steady rise as gas should not be facing any uncertainty and path ahead is very clear. A placing at 3 pence sometime in January 2022 , ahead of production to pay for lidsey and convertible is very tolerable compared to something premature at 1 pence.
The Q is will GL & crew act in the best interests of the shareholders or for their benefit?
Geo and Lidsey I think will be a little less than many think.
Nomlungu I know and you know you are a terrible alias.
Cuddyoubeliveit? When the share price is 0.9p, a ramper says money is no problem as warrants that vest at 2p can be exercised. I suppose there is actually no concern about cash reserves as the presentation said they were targetting first gas over 1 year ago, so all the cash from sales must be mounting up?
In #'my very humble opinion'# someone is having a laugh
They'll certainly be charging as much as possible to the SFB account as that's where the money is. However they have to pay for the Lidsey seismic acquisition, processing and interpretation ( I don't think they have the inhouse expertise for any of that) which will cost .
Then there's any geothermal costs and any legal & planning costs re the various appeals. I 'd guess a small raise early next year
Given the Loan is being shared all drawn down funds aren't for Angus Energy but for all parties....
Again, I still hope a placement isn't necessary before First Gas!
Taken from RNS
"Given the share grant to be issued by Angus under the MOU, SEL has agreed net drawdowns from the facility to cover elements of the pipeline completion, thereby keeping the relative funding liabilities on the agreed pro rata basis of 51%/49%."
£5.84m was drawn down from £12m loan facility.
£0.591m was left in Kitty as of 31 March 2021.
As James and a few others have agreed as an assumption, some of that £5.84m should have or be used for Staffing and Effort for Saltfleeby.
If that is proven to be the case and shall continue to be the case, management's need for Equity via a placing on my very humble opinion could be substantially lower than many pseudo experts here believe.
There are significant stock options for Lucan and co exercisable at 1.5p and fully vested at 2p.
There is 165m warrants exercisable at 1.35p cica £2.1m direct to company.
So there's potential to get to First Gas and wait with a small dilution if any than dilute now.
Each day closer to Gas.
Keeping a watchful eye on current gas prices as ever.