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JD Nau
You seem to be an expert on foolish and incompetence. Thank you for sharing your hypothesis on Aleph and what they believe. Whilst you do not know what they believe, you made a case that Aleph may recover their loan. However, what about ordinary shareholders? It is missing for a reason, there is no case. Punters will lose given the company has too much debt, lacklustre management and no return on invested cash.
Your wait is over!!…. Would you like me to post the charges placed over the company and SEL that cover that £12 million? Or the Knowe charge for £ 1.4 million due in April as well ?
Hardly a risk for them! More like a last chance Wong’s loan at the time.
https://data-ogauthority.opendata.arcgis.com/pages/production
Ah, WG818 I am not sure that your post is so much irrelevant as simply foolish and incompetent.
Why aren't the industry experts piling in?
You mean like Aleph who put in £12 million of their own money as a loan secured against the site? They believe in Saltfleetby, they believed that it is worth massively more than £12 million even before the recent 5 bagging of the gas price. They have also put their money where their mouth is based on Angus' figure and their own due diligence.
However, you want us to ignore them and their £12 million just as you want us to ignore Angus' regulator approved CPR and instead listen to you and your penniless deramping. You have no credibility I'm afraid and I would far rather follow the competent people who have been consistently right and actually have £12 million to invest than you and your penniless cohorts who have been consistently wrong.
What is the link to the OGA production data that you refer to and where is the documentation showing that the Angus hedge is about a minimum volume of gas rather than a percentage of production? Are you just making them up?
I’m waiting…
That would be a Good post JD if it wasn’t for the fact that it’s mostly irrelevant.
The OIL CPR makes it clear that it is compiled on information supplied by Angus, is based on a different well drilled into a different formation and didn’t include the £12 million loan.
Hard to see where they got some of the figures from when compareding them to the OGA published ones.
Yes if this were a normal company you would expect the share price to be well north of here thanks to the price of gas.
Why is that? Because nobody can believe a word they say anymore!
Why aren’t the BOD and industry experts pulling in?
Because it’s out of their hands now!
Lenders, contractors, and government agencies will decide the future now. Why would the lenders possibly allow them to only supply at best half the gas and lose millions?
Good post though if it were realistic!
The thing here is that on the one hand we have Angus' "Competent Persons Report" which has been prepared by experts and has to fulfil regulatory requirements which says that we will be producing 5mmscf per day without the sidetrack. This will allow us to generate somewhere between £10-15 million in revenues depending on whose calculations we listen to before the hedge kicks in in July.
However, we are being to ignore this and instead listen to the opinions of the boards "Incompetent Persons" instead who promise that it will all be a disaster. They are the same people that nicknamed Saltfleetby Poundland and said that Angus would never even get any funding for it as it was worthless.
However, it turns out that the real experts believed in Saltfleetby and handed over £12 million to get it going and now with gas prices as they are the site is going to make a fortune. Surprise surprise the industry experts with £12 million to lend were right and the Incompetent Persons on this board were wrong.
Angus Energy's current market cap is £8 million but the company is going to bank at least this amount of money in cash by June next year and keep on doing so for many years to come. This share price is only going one way regardless of what the Incompetent Persons say.
GLALTH
Now the Incompetent Persons want us to believe that Angus cannot make any money from the current gas prices as they are committed to drill the sidetrack whether they want to or not. Once again they are wrong. You'd figure that they would get bored of making themselves look stupid on a daily basis but it would appear that they never tire of it.
I'd say along with Mobile Streams that Angus is close to the best limited investment on AIM currently
£3.000 investment could well pay a handsome dividend in a years time
Dont bet your shirt on it as always but I'm personally supremely confident
i know many will say 100m is impossible for ANGS to achieve, but many was saying the same when EUA was 10m mcap. so the gas price is on our side and we are one of few companies are in production soon vs so many explorers out there.
so, hopefully we will continue to rise steadily towrds 1p 2p and beyond