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From their point of view?
Yes...
ocelot
very quiet!
This part from the interview could be why!!
Q:I’d like to turn to your sites. Can we begin with Brockham: How is the sale going?
A: Those negotiations,I would say,are going on, on a very long-term basis. I don’t expect to see anything happen very quickly. I do think, although there is only one person we are talking to, there are two potential parties in the longer run. But I don’t see anything happening in a six-month timeframe. But we’re not hanging up the telephone.
Q; Why is that?
A: I think availability of funding is one.
Availability of funding is one!?!?!!!
https://investigatingbalcombeandcuadrilla.files.wordpress.com/2019/10/transcript-of-interview-with-george-lucan-of-angus-energy.pdf
Quiet on here this morning, so here's an extract from the transcript of GL's 02/10 interview with Ruth Hayhurst of Drill or Drop:
... I have a relatively high degree of confidence about principally our
Balcombe asset, which we hope to exploit next year, subject to planning, and very high-level
confidence about Saltfleetby as a producing and cash-generating asset.
The remaining assets, one is dormant, it’s called the A24 prospect, one of the Weald ones. The
other, Lidsey, we have growing confidence about. We want to shoot some more seismic, be really
knowledgeable before we throw a lot of money at that...
But I do believe that the acquisition of Saltfleetby is a game-changer for the share price. In fact, I
believe it will make for the company much more money than Brockham would ever have made for
us. That’s my own investment banker estimate of the situation...
https://investigatingbalcombeandcuadrilla.files.wordpress.com/2019/10/transcript-of-interview-with-george-lucan-of-angus-energy.pdf
If you want to trade, you select a liquid stock.
UKOG is a liquid stock, it means traders can get in and get out without weighing too much on the share price.
At the present time, ANGS is not a liquid stock, it is, therefore, not the kind of stock to attract traders wishing to deal in any kind of size.
PS: total volume of 3,058 shares so far this morning.
wealdpwr,
Have you taken note of daily volume in ANGS at the present time?
22m shares is a difficult quantity to trade (and, as you say, as a former investment banker, the gentleman will be very familiar with the problems posed by liquidity).
Ocelot, to quote Winnifrith, yes the one and only Winnifrith, “what are you smoking?” LaBrum is a former Deutshe Bank trader. No matter what , like an apex predator, he will view the entire life of his investment as a trade. Without blinking he will size up every retail investor as a kill.
GLA
YL,
We've had this conversation before.
You say: "MM's and traders are the only folk interested in ANGS right now".
But there's nothing to suggest R Labrum is a trader.
We don't agree, but, at least, our exchanges are civilised!
Ocelot,
Have you considered a post as ANGS PR spokesperson? I think I already prefer you to Tidswell ;-)
To be fair to ANGS The Market for AIM investments is probably the worst it has ever been right now! Factoring in Brexit and negative UK share sentiment, combined with poor market sentiment for oil & gas in general, together with the wider global warming debate... even if ANGS had delivered on something.... they would still be having a hard time right now.
MM's and traders are the only folk interested in ANGS right now. I doubt many medium to long term new investors will be willing to take a risk here in the kind of numbers we need... and I doubt many LTH's (like myself) will forgive and forget and average down until we are crystal clear - this time - that we aren't just being sold yet another jam tomorrow empty promise.
I can't see the SP climbing much above current levels until well after Christmas unless at the behest of the day traders and MM's you aren't interested in.
Sadly, there have been far too many fingers burnt here already for most to take ANGS' word for anything! Scepticism is the new order of the day until proved otherwise.
YL,
MMs and traders aren't really my concern, I'm much more interested in investors, who will take a longer-term view.
Am hoping some investors will wish to average down from current loss-making positions and am expecting others to be new to Angus and prepared to look at its prospects free from the disappointments of the past.
We shall see.
Evening Ocelot,
Whitby - fine for sea air and fish 'n' chips (just mind the vampires)
As for Sandsend... fine location and a great little cafe' too.... oops... sorry... Saltfleetby!!!!! Oh well....
Should Saltfleetby be "entirely ignored" just now?
I would say it is currently cost neutral - given that if it is a failure - at least we have the funds to cover abandonment.
We have to wait until well into 2020 for various stages to be passed before we see any results remember... and I doubt that fact is going to play well with either the traders or the MM's in the meantime - whilst we all sit tight with everything crossed waiting for ANGS to achieve its very FIRST success!!!!!
"Not all investors are put off by an investment horizon of, say, 9 months"
I doubt they are... but based on this company's horrendous past record... I doubt queues will be forming around the block for ANGS shares until at least "something" has been proven up this time around.
I want this company to succeed just like you... but - after previous long delays followed by failed promises and downright disasters I'm keeping my feet firmly planted this time around... as I believe most people will.
Not all investors are put off by an investment horizon of, say, 9 months - a lot of oil companies (amongst others) wouldn't exist if that was the case.
PS: Sounds like a pub, the Prospect of Whitby!
YL, Good evening!
There are various hurdles to be overcome, of course, but it is for each investor to decide whether the prospect of Saltfleetby should be entirely ignored in the present or not.
Ocelot...
Really! I would say that the optimistic scenario is that Saltfleetby has planning passed (successfully) has testing concluded (successfully) then has reconnection to grid (successfully) THEN... and ONLY THEN... can anyone in the right mind start getting even vaguely interested in outputs.
It's all pie in the sky until all the other boxes are ticked and bearing in mind ANGS are historically p*ss poor at ticking boxes... we have a long LONG way to go yet before getting hung up about production revenue!!!!!!
Reminder of Saltfleetby forecasts, from the 2nd half of 2020:
• Even under a conservative scenario the total net cash
generated over the 10 year field life is £17.6 million.
• The optimistic scenario assumes total net cash generated over
the 12 year field life is £36.5 million.
Under the conservative scenario, therefore, net cash is forecast to be generated at an average of £1.76m pa over 10 years, under the optimistic scenario, at an average of £3.04m pa over 12 years.
Hopefully news on application soon
At present nothing in mkt cap for this asset