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Balcombe submission problems and subsequent share price collapse:
News are out about problems with the submission, see https://drillordrop.com/2019/11/13/regulator-objects-to-angus-energy-test-plans-at-balcombe/amp/?__twitter_impression=true
Share price has collapsed to an unimaginable 0.75 pence! Why wasn’t / isn’t an explanatory RNS out?
Can this be fixed in time for WSCC January meeting? Need to resubmit? Delay? Obviously the market, having lost all confidence in Angus m, is very uneasy.
Can you please inform the market what impact of this is before the SP goes to 0.0075 pence? Time is not in Angus favour.
Yanis2005
Why you keep complaining when deep down you know what is wrong with ANGS. Haven't you suffered enough already? I've sold out ages ago with a huge loss, so did other private investors. Lies after lies were told and we all believed it all and paid the price. Shorters are here for a reason because they know money can be made shorting ANGS and they are not going to leave imho forcing the SP going lower and lower.
There is no point checking Angs shareprice everyday because its not going to get any better as private investors have lost their appetite to reinvest. It also not good for your health, family/social life etc. Just my advice, go and find a better company with trustworthy and credible management and assets, invest with ISA and stay invested until you recover your losses and quit AIM forever.
GL
And another
Saltfleetby milestones:
This is from an earlier answer,
What are the milestones to reconnection of the Saltfleetby Field to the National Gas Grid? [Investor Presentation Sept 30 2019] Asked on 3 October 2019
The key milestones are:
1) The delivery of the NTS Feasibility Study due to be delivered before the 1st November.
Can you please advise why the NTS Feasibility Study has not been delivered by 1st November? When is it now expected?
For a "very" long time now, Lucan, Tidswell & chums have been plugging the new Saltfleetby asset. It should come as no surprise to anyone here that another of our - supposedly valuable - Weald assets (Balcombe) has also now been kicked into the long grass together with Brockham... via a badly written planning application...
But don't worry long suffering shareholders... Saltfleetby will come to our rescue... "if" they get planning passed... "if" they can fill the forms in properly... "if" they can reconnect to the grid OK.... "if" they can find the funding to keep the lights on in the meantime... "if " they can prove that they are a going concern and can cover the cost of what appears now to be the abandonment costs for all their Weald Assets along with Saltfleetby in advance...
But don't worry, because according to their Home Page... Angus offer investment in "low-risk exploration opportunities that are cash flow efficient!"
In what reality are this BOD living?
Neon, I appreciate what you are talking about but at this point in time is not worth for me to cut losses, I am loosing dozens of thousands of pounds on Angus and is not worth cashing in.
Yes, Angus seems to be going from one disaster to the next and when you think you reach the bottom something else happens to push the SP lower.
However, experience tells me not to sell when I should be buying. Market sentiment right now is extremely negative, could not get worse. Surely, downside risk from here must be lower than upside potential?
Balance of probabilities is that so far after getting everything wrong they are bound to get something right. No harm in pushing them in the right direction, one can hope.
It should come as no surprise to anyone here that another of our - supposedly valuable - Weald assets (Balcombe) has also now been kicked into the long grass together with Brockham...
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Think you may be wrong on that one, YL, think the absence of news from ANGS may well mean those who have spoken of a "storm in a tea cup" are right.
Ocelot,
I remain "genuinely" sceptical!
The BOD are just burying their heads in the sand IMHO. After all, Tidswell is especially gifted at that game.
Besides which... if they did the right thing and released an RNS now, then the SP would only crash further. They will probably tell us on Monday... after allowing RiverFort a chance to dump more shares first!
As far as we are currently aware, Riverfort haven't "dumped" any shares at all to date (it really isn't in Riverfort's best interests to "dump" shares - to sell them without weighing too heavily on the share price, yes).
Ocelot,
You need to read up on "Death Spiral Finance" & "RiverFort". Check them out on the Web. They make money as the SP drops... The clue is in the title: "Death Spiral"
LOL ;-)
They make money by PRESERVING as large a margin as possible between their conversion price and their sell price.
They also have warrants exercisable at 1.664p.
No conversion RNS yet. Don’t they need to announce the conversion rate first before they start selling?
Postalot, your excuses for ANGS is as usual myopic, unidirectional and nothing more than ANGS PR. Carry on, we all need to make a living.
wealdpwr,
Red-carded, for playing the man instead of the ball :-)
Lol , I know one thing the card will never be the color of money. Can I refer to you as just ANGS and not personalise it? I thought I was speaking of the game, not the player.
YL, Riverfort has been converting constantly, non stop, on Ukog and the SP is holding quite well above 1p. Not to their interest to kill the goose that lays the golden eggs.
Postalot, your excuses for ANGS is as usual myopic, unidirectional and nothing more than ANGS PR...
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This is what you wrote, wealdpwr.
Exactly.
Is there anybody here that doesn't want The Angus SP to go up?
George by the looks of things.....lol
Yanis... Yes, I know what's happening with UKOG...
...and shareholders can hardly have been celebrating - considering the dilution - and the fact that any good news is met by more RiverFort dumping into any rise. Despite considerable progress (seems UKOG at least have operational ability unlike ANGS) but the SP is still at a historic low - or hadn't you noticed?
I "genuinely" wanted Angus to succeed like anyone else here... but REALLY? Who can have any faith whatsoever left in them now!?!?
I would just be kidding myself to pretend there was even the remote chance of them coming good after their continuing 100% record of failure!
Tom Winnifrith Bearcast:
"Lucky Lord Lucan don't bludgeon the Angus share price to death, it's time to 'fess up"
Makes no sense for me to sell which is why i'm keeping hold of these shares i have to agree with YL that i have little belief ANGS will come good, feel more like they are dragging out there wage payments these days before collapse.
I thought that but I gambled on it going lower next week and week after and so on, I really thought it couldn't of gotten any worse, I
Balcombe wont happen for a long time if it does,,they need cash, PI's cash,, Placing, Bonds, loans who will lend them worth nothing,, Great post by Ja 51
Balance of probability, after all these successive failures, they are likely to get something right. It shouldn’t take them long now to get the Balcombe application sorted, they did it before. We know that Balcombe has oil - how much oil? We’ll find out when they eventually test it.
Sentiment extremely negative, could not get any worse, will either stay there very negative or improve. The chances are that it will improve once they get something done.
A contrarian investor will buy.
DaveOx,
I sold out my shareholding in my own account - at a loss - some time ago... but still have a holding in my wife's account. Although this was a smaller holding I figured better to play "in" & "out" just in case.
Last week, I sold off half of that holding at a greater loss too. I now have a modest holding left.
The only three outcomes I can see here are:
1) Angus will crash out or de-list before we see any recovery = 100% loss.
2) Angus will cling on until they cross all the hurdles towards production at Saltfleetby - "BUT" how much time & further dilution are we going to have to endure in the meantime?
3) A miracle happens and after their unbroken 100% record of FAILURE... Angus manage to achieve "something" / "anything" to add value to the SP and enable me to sell out at less of a loss. (I cannot "honestly" see this ever reaching 2p again... let alone my higher average... but less of a loss, is less of a loss I guess?)
GL A
YL :-)