Member Info for Alan2017

I posted this back in May, but it is still relevant with regards to what needs to be done at the site.

"Well I'm in the please don't acquire a gas field camp...just as I wasn't happy with the Holmswood buy in. But if you're an Angus investor then it looks like we will be the proud parents of a Northern gas field soon, so we should look more into it.

Well Wingas had big plans and the document (link posted at the bottom) detailed the grand plans in 2014 some of which were carried out. What I have read from the Angus presentation seems to follow the original Wingas plan except for circumnavigating the soon to be decommissioned gas terminal. The plan to install compression and dew-point control equipment again replicates the Wingas plan.

The site has permission for 11 wells as well as the converted water injector.

The document has restoration information as well for whoever still owns the site at the end of its life."

https://lincolnshire.moderngov.co.uk/documents/s5306/E0654.13%20Saltfleetby%20GSF.pdf

Charlie - Angus released an inept RNS about Balcombe which should have raised the SP, but because they never did any research into the fluid losses into the formation they wrote about "water" for half a page killing sentiment.

And just to show how inept they are....all you have to do is read the Daily Drilling Report Mud Summary, General Comments Section, Mud Engineers Report an Mudloggers report who all have to mention fluid losses whether its on surface (evaporation), shale shakers overflowing or downhole.

Yanis - the question wasn't directed at Ruppet and I note Ocelot continues to avoid the uncomfortable truth about the experience of the current board with a Costa Del Crime figure lurking in the background.

The SP moved up due to Rupert buying in.....and now he's stopped...the SP has dropped.

It's sad when you actually know the name of the 4th largest investor in Angus (who some say has his own shady share dealing story of his own), but that also points to the fact that this share is flat.

Angus won't start requesting equipment for Balcombe until they get permission which will be in January at the earliest, so you can add on a further 1-2 months delay on top of that.

Saltfleetby - Angus haven't been awarded Operatorship of the field, timelines always move right when it comes to project infrastructure like this so towards the end of 2020.

Folk don't see Angus as being an investment at the moment, as there are other shares out there that are more attractive with better returns. And before Ocelot says but Lucan says we're worth 4p. You need people to buy in to raise the SP and sadly due to the inept history of Angus I suspect most folk will wait until results have been announced.

Ocelot - then some would say you haven't done your due diligence if you haven't looked at the team who will affect the SP of your investment.

They are very weak in almost every department....even Lucan admitted that himself "It’s been a steep learning curve but I’m distinctly enjoying it." Glad to hear he's using Angus as a training competency exercise....it makes sense now why the SP has crashed under his stewardship. Unless you can say its part of Lucan cunning plan....sigh.

So the Saltfleetby Management as you put it.....Saltfleetby is a Field....the Management at Angus is:

Lucan who stated himself I’m a relatively low-cost managing director.....It’s been a steep learning curve but I’m distinctly enjoying it."
Paddy Clanwilliam, a mate of Lucan who took a listed company private. Seems he will have experience of investors suing the company they invested in....sigh

https://www.thetimes.co.uk/article/the-earl-of-clanwilliam-the-oligarch-and-a-buyout-of-eurasia-drilling-that-riled-investors-5vtt6smfm

They have a Financial Director in Carlos who isn't qualified for his position and worked with Tidswell / Vonk at Eclipse and is involved with the security companies at HH and Angus sites.
A Technical Director who also happened to be or still is Chief Geologist (Andrew Hollis) at Angus who made the damaging decision to drill Lidsey and Brockham.
You had a Site Manager looking after production who was a Wellsite Geologist (Peter Eadsforth)
And then you have Tidswell who doesn't know his left from his right, alienated the OGA, EA, HSE, Local Authorities and is now tasked with Business Acquisitions for Angus .....when he has no experience

I also forgot to mention the Scottish Wool expert on the board as well......that will come in handy for the cold winter nights in Surrey.

Ocelote - its most disturbing when a shareholder (Tidswell) who was Chairman and then had to sign after breaking AIM rules by meeting and loaning his shares to America 2030 during a closed period still acts as King Maker....as confirmed by Lucan. Lucan was sold there to be the eyes for Tidswell.

"At that point in time, Jonathan, the NOMAD and I had discussed what role I would come in as and it was suggested I come in as interim managing director"

I look forward to see how you spin this to be positive lol

Ocelot - the power struggle was solely from Tidswell....he no longer had control of Angus so staged a shareholder coup aka....his own account to remove Vonk.....put in a puppet who doesn't have the experience to run Angus, yet someone that Tidswell can control. After all Lucan did say:

"....fell out with Jonathan Tidswell, which is never a good thing to do"

"At that point in time, Jonathan, the NOMAD and I had discussed what role I would come in as and it was suggested I come in as interim managing director"

"I’m a relatively low-cost managing director.....It’s been a steep learning curve but I’m distinctly enjoying it."

Lucan failed to mention in the Drillordrop article what he wrote back on 29th January 2019

"Even before my appointment, the Board was also on the point of hiring a new Non-Executive Chairman to replace the acting Chairman, Cameron Buchanan."

http://www.angusenergy.co.uk/wp-content/uploads/2019/01/Introduction-from-George-Lucan.pdf

The management you hold up as being competent is actually quite toothless apart from Mike Wells whose job is the production and delivery of the gas.

I also forgot to mention the Scottish Wool expert on the board as well......that will come in handy for the cold winter nights in Surrey.

Ocelot - there was no power struggle. Tidswell was forced to resign under AIM rules for meeting and loaning his shares to America 2030...which when America 2030 started selling his shares crashed the SP.

Vonk and the BOD were investigating Tidswell dodgy dealings and when Tidswell saw he his share of Angus ws about to drop below 5% ...he struck with a coup. As confirmed by Angus, Tidswell and his puppet Lucan.

"At that point in time, Jonathan, the NOMAD and I had discussed what role I would come in as and it was suggested I come in as interim managing director"

So the Saltfleetby Management as you put it.....Saltfleetby is a Field....the Management at Angus is:

Lucan who stated himself I’m a relatively low-cost managing director.....It’s been a steep learning curve but I’m distinctly enjoying it."
Paddy Clanwilliam, a mate of Lucan who took a listed company private. Seems he will have experience of investors suing the company they invested in....sigh

https://www.thetimes.co.uk/article/the-earl-of-clanwilliam-the-oligarch-and-a-buyout-of-eurasia-drilling-that-riled-investors-5vtt6smfm

They have a Financial Director in Carlos who isn't qualified for his position and worked with Tidswell / Vonk at Eclipse and is involved with the security companies at HH and Angus sites.
A Technical Director who also happened to be or still is Chief Geologist (Andrew Hollis) at Angus who made the damaging decision to drill Lidsey and Brockham.
You had a Site Manager looking after production who was a Wellsite Geologist (Peter Eadsforth)
And then you have Tidswell who doesn't know his left from his right, alienated the OGA, EA, HSE, Local Authorities and is now tasked with Business Acquisitions for Angus .....when he has no experience

Ocelot - Here is your current Management CV

The thing that stands out the most from the Drillordrop article is how much power Tidswell still 'Wealds' ...pardon the pun ;)

Tidswell with his Knowe Property connection is the King Maker at Angus and Lucan confirmed this.

While discussing Vonk, Lucan stated "......fell out with Jonathan Tidswell, which is never a good thing to do. Jonathan is not a majority shareholder but he is a significant one."

Lucan then confirms his own lack of experience by then saying "Initially, I was slated to come on to that board as non-executive director just to add some eyes and ears."

"At that point in time, Jonathan, the NOMAD and I had discussed what role I would come in as and it was suggested I come in as interim managing director"

I’m a relatively low-cost managing director.....It’s been a steep learning curve but I’m distinctly enjoying it."

So only Tidswell and the NOMAD brought Lucan in who doesn't have the experience by his own admission, but makes up for that by being cheap. There lies the problem with Angus.....looong sigh

They have a Financial Director in Carlos who isn't qualified.
A Technical Director who also happened to be or still is Chief Geologist (Andrew Hollis) at Angus who made the damaging decision to drill Lidsey and Brockham.
You had a Site Manager looking after production who was a Wellsite Geologist (Peter Eadsforth)
And then you have Tidswell who doesn't know his left from his right, alienated the OGA, EA, HSE, Local Authorities and is now tasked with Business Acquisitions for Angus .....when he has no experience.

The old expression "You get what you pay for" comes to mind.....long sigh.

What qualifications does Jonathan Tidswell have to focus on Business expansion? After all he did give up Horse Hill for Brockham? That isn't a glowing report is it? Could you please state how much Jonathan is being paid a year for doing basically nothing.

Why is Jonathan still being employed by Angus after he broke the AIM rules. You can appreciate that you (Lucan) have allowed yourself to be seen to be his puppet after Jonathan brought you into Angus? A clean slate would be the best route to the long process of winning over investors again.

“Further, the recruitment of Mike will allow Jonathan to step back from his existing operational role to focus on business development as Angus continues to look to expand its asset portfolio.”

http://www.angusenergy.co.uk/wp-content/uploads/2019/07/Management-Changes-and-Receipt-under-Saltfleetby-Agreement.pdf

The Jonathan Tidswell Director loan deal rankles share holders especially as the “….Company’s share dealing code was not complied with and accordingly for clarification not be reinstated to the Board”.

Jonathan broke the companies rules yet still has the Directors loan which originally should have been repaid after 12 months. Why when he is no longer on the board has he not paid back the loan? He has enough shares to pay it back and how many salaries can be paid out of the £211,000 plus amount?

He has used Angus as his personal piggy bank from 2013 onwards racking up huge loans - Angus forfeited recovering over £700,000 loans due to them by Tidswell as it would have stopped them selling HH and going public.

I appreciate you have had a tough beginning with Angus Energy, but to continue to have a major share holder who has broken company / AIM rules by trading his shares in a closed period, crashed the share price on multiple times, managed to alienate the OGA, EA and local authorities and being paid a salary for doing absolutely nothing is damming. You need to cut the rot out which should have been done a long time ago and severe all ties with Jonathan Tidswell for a clean break to give Angus a chance to regenerate itself both with its reputation and more importantly its share price. Until you do that then you have a millstone around your neck. Jonathan can be a private share holder like everyone else and hope your stewardship will recover the SP.

Here is the link:

https://investigatingbalcombeandcuadrilla.files.wordpress.com/2019/10/transcript-of-interview-with-george-lucan-of-angus-energy.pdf

The thing that stands out the most from the Drillordrop article is how much power Tidswell still 'Wealds' ...pardon the pun ;)

Tidswell with his Knowe Property connection is the King Maker at Angus and Lucan confirmed this.

While discussing Vonk, Lucan stated "......fell out with Jonathan Tidswell, which is never a good thing to do. Jonathan is not a majority shareholder but he is a significant one."

Lucan then confirms his own lack of experience by then saying "Initially, I was slated to come on to that board as non-executive director just to add some eyes and ears."

"At that point in time, Jonathan, the NOMAD and I had discussed what role I would come in as and it was suggested I come in as interim managing director"

I’m a relatively low-cost managing director.....It’s been a steep learning curve but I’m distinctly enjoying it."

So only Tidswell and the NOMAD brought Lucan in who doesn't have the experience by his own admission, but makes up for that by being cheap. There lies the problem with Angus.....looong sigh

They have a Financial Director in Carlos who isn't qualified.
A Technical Director who also happened to be or still is Chief Geologist at Angus who made the damaging decision to drill Lidsey and Brockham.
You had a Site Manager looking after production who was a Wellsite Geologist (Peter Eadsforth)
And then you have Tidswell who doesn't know his left from his right, alienated the OGA, EA, HSE, Local Authorities and is now tasked with Business Acquisitions for Angus .....when he has no experience.

The old expression "You get what you pay for" comes to mind.....long sigh.

Just seen how Angus have posted my question which you can see i the original post (same thread).....

Spot the difference ....looong sigh

"The Gas to wire generator was on the original site layout for equipment, but was then subsequently removed. How could you test / flare without it? The associated connection to the National Grid for the distribution of excess power generated on-site was an OGA prerequisite as confirmed in an Angus RNS dated 23 October 2017. Can you confirm that the electrical hook up to the National Grid at Brockham was actually 1. started and 2. completed and 3. if it wasn’t carried out then please state the reason why?"

Just posted this to the Angus website....see if we get an answer

"Why are Angus spending more money on 2D seismic when you only did it several years ago. It certainly didn’t help you with the Lidsey new drill. Wasn’t Andrew Hollis the Angus Chief Geologist for that well?

You would be more prudent doing 3D seismic as shown at Rathlins’ West Newton asset where they know exactly the size of the asset due to 3D seismics.

“Since acquiring what was then a non-producing asset in July 2012, the Angus Group has implemented an upgrade programme and enabled production, upgraded the topside facilities, including environmental upgrades such as ground water monitoring wells, re-perforated Lidsey-1 and cleaned out the well, acquired new 2D seismic, re-processed and interpreted the subsurface”

http://www.angusenergy.co.uk/wp-content/uploads/2016/11/Angus-Energy-AIM-Admission-Document-7.11.2016.pdf

Just posted this to the Angus website....see if we get an answer

"Can you confirm that the electrical hook up to the National Grid at Brockham was actually

1. started and;
2. completed
3. if it wasn’t carried out then please state the reason why.

The reason I am asking is the Gas to wire generator was on the original site layout for equipment, but was then subsequently removed. How could you test / flare without it?

“the installation of a connection to the National Grid for selling on-site power generated from associated gas production”

http://www.angusenergy.co.uk/wp-content/uploads/2018/01/Angus-Energy-To-Resume-Conventional-Production-From-Brockham-Lidsey-Oil-Fields.pdf

This was confirmed in a paid Angus online advertorial 23rd November 2018

“We don’t need a flare because we have a better solution. The Company has an agreement with the Oil & Gas Authority (OGA) to use this programme to install a generator to capture any gas produced. The power generated will be supplied to the local grid.”

https://www.getsurrey.co.uk/special-features/angus-energy-begin-flow-tests-15424862

This was an OGA prerequisite as confirmed in an Angus RNS dated 23 October 2017

“Prior to initiating production, Angus Energy will install a connection to the National Grid for the distribution of excess power generated on-site as outlined in the Company RNS of 22 September 2017.”

http://www.angusenergy.co.uk/wp-content/uploads/2017/10/Angus-Receives-Brockham-OGA-Approval.pdf

Just posted this to the Angus website....see if we get an answer

"Can you explain what is the actual reason for not being allowed to inject water at Brockham?

It is my understanding that you still haven’t carried out CBL wireline logging runs on each well at Brockham to appease the OGA, EA to enable Lidsey produced water to be reinjected at Brockham?

It should have been done as soon as Angus took over the Field, yet it wasn’t carried out?

A simple case of confirming well integrity (no leaks in the casing / cement behind casing) across the aquifers would enable water reinjection to be restarted at a deeper depth.

You have had so many opportunities to do it with the HG Wells logging truck being at Brockham Nov / Dec 2018 and Jan / Apr 2019."

I never thought I would read Tidswell and "man of integrity" quoted in the same sentence....then again GL does....looong sigh

"The executive chairman ran into a disastrous minefield of compliance with some share dealing. I know him personally and I believe him to be a man of integrity but somewhat hopeless with paperwork, as it transpired, and I’m quite certain he didn’t benefit from any of the breaches of compliance that ultimately led to his resignation."

Tidswell arranged a meeting with America 2020 in a closed period for Directors to sell their shares...tut tut breaking AIM rules
Tidswell then continued to have discussions still in a closed period ......roll of the eyes breaking AIM rules
Tidswell then signed his forms ...not once but several times over days before it was finally set up....hopeless as GL would say, but still breaking AIM rules

Yet what GL or Angus can't say is why did Tidswell knock on America 2030 door in the first place?
And who sponsored GL's appointment in the first place ....oh yes....the man of integrity himself.

Read the chronological events of Tidswell dodgy share dealings here

http://www.angusenergy.co.uk/wp-content/uploads/2019/03/Angus-Energy-Board-Changes.pdf

Ocelot your quote from the meeting made me sigh ":.....our principal technical man, our technical director, he is in fact
ex British Gas. He’s almost more familiar in that territory than he is in oil so he was delighted to go back and put his gas hat on and look at this field."

Technical Director as in Andrew Hollis who was / still is (?) Angus Energy Chief Geologist who decided to drill Lidsey and Brockam...both of which were Gelogical failures resulting in the SP crashing both times. Is he really the best person they can get?!?! See the video link at the very bottom.

And why has the Angus site airbrushed out his stint as Chief Geologist at Angus?!?!

http://www.angusenergy.co.uk/management/

https://twitter.com/share_talk/status/1042460542672224256?lang=en

Charlie - "GL said at the meeting that JTP offered to resign - but GL wanted to keep him in BD as that’s where his strength lies."

Can somebody show me JTP business strengths?

Chose Vonk
Chose to sell Angus shares in HH
Chose to acquire 12.5% of Holmswood even though planning application had bee refused for the previous 9 years.
Signed over his own shares to America 2030...sigh

Thats rather scary if he thinks Tidswell is the best person in the industry to do the job. Is GL saying there is none better than Tidswell or is it the fact Tidswell coup brought GL to the company and you don't bite the hand that feeds you.

https://www.brrmedia.co.uk/broadcasts-embed/5cda7feccfde5e11cc824d5b/event/&partner=whatinvestment

From 7min 13sec sums up Lucans judgement….

”the talent of its staff is second to none” ……long sigh

“Hot on regulation” yet sidetracked from the wrong well which is unheard of in the oil industry…

“They are getting deals for shareholders” He must mean for Tidswell.

Yanis - Tidswell held meeting with America 2030 during a closed period aka you're not allowed to be trading shares due to insider knowledge. Yet over the course of several meetings / discussions signed forms repeatedly and loaned his shares out to America 2030......now Angus has never given us a reason as to why Tidswell even knocked on America 2030 door in the first place and what he was planning on doing with his 'pot of gold'. Was this explained in the meeting?