Member Info for Alan2017

Well I see the only folk benefiting from Angus are the BOD themselves.

Financial Guru Lucan is now on £120,000 a year along with Andrew Hollis and Carlos who both doubled their salary.

How on earth can they justify this along with a wage bill of over £1 million...which I had predicted last year.

Fully rewarded for zero achievement.

Pages 27 and 55

https://www.angusenergy.co.uk/wp-content/uploads/2021/03/Angus-Energy-PLC-Annual-Report-Sept-20-Final.pdf

Rastuss was spot on with his prediction when he asked on 8th January 2021

Gallifreyan: do you think there will be a rights issue/placing in the next two weeks?

gkb47 - I've been too busy to keep up to date with the Angus roadshow.

I did see the lack of experience...again ...in employing somebody to go out and find £12 million. Isn't that George Lucan forte? Surely America 2030 would have lent them the money?

Angus do like to reinvent themselves and move onto the next show. But how much revenue have they generated since IPO day?

And I do wonder why folk say they have averaged down in order to recoup losses. Surely a more diversified portfolio should be the prudent way forward....otherwise thats a lot of broken eggs.

Oh and should have mentioned £10 MILLION in salaries for 10 years.....generous salaries ....as Angus haven't said they haven't taken pay cuts like all other oil companies.....so what is left in the kitty?

So what happed to the £1 project that investors were told by Lucan.....the debt is stacking up before they even try to flow the wells at Saltfleetby?

Crikey - check back in and see no production, no production facility built at Saltfleetby, no money raised for production facility (£12 million wiped off future revenue), another placing undertaken which takes that to roughly £27.5 MILLION worth of placings and Angus have generated how much in revenue since IPO?

Balcombe only produced 100bbls of oil during the flow test and seemingly Angus are required to drill a second well at Balcombe by the end of 2021. Can someone ask Lucan this important question as Angus pumped £5million into the project (sadly not out of the project).

Brockham - still no water injector well = unable to produce from Portland

Brockham / Lidsey - no production

So another placing to fund the board, staff and Tidswell (what does he actually do for the company....mergers and acquisitions?!?!)

Have Angus taken pay cuts like all other oil companies did 6-8 months ago? Rather a poor state of affairs

Yet no water injector so wells are duds without the additional pressure and can't dump the water produced from Lidsey = ££££ trucking costs up North to have it burnt.

Rastuss - the next Dodo is Balcombe. After Angus didnt have planning permission to conduct an EWT...now they face the same trial by council with potential delays and a similar fate.

Angus have raised £5 million for Balcombe.

Thats £9 million for Holmwood and Balcombe

gkb47 - subtract £400,000 for Lidsey and Brockham acquisitions ....leaves you £4.6 million. Considering Angus only dug a partial trench (they seem to be experts in this now) and never pursued the gas to wire ...then they didn't spend any on this.

So where did all the money go? I find it amazing that a common can just fritter away £4.6 million....that pays for the salaries of 2017 / 2018 / 2019 / 2020 and most of 2021.

gkb47 - Angus Energy raised twice regarding Holmwood:

£2 million on 6th February 2017
£3 million on 23rd November 2017

What investors should be asking is where did the £5 million go that was raised in 2 placings?

Actually raised £5 million for Holmwood

Jonathan Tidswells’ comment

“Participation in the Holmwood-1 exploration well is a strategic opportunity for Angus and wholly consistent with our strategy of acquiring, managing and monetising select projects to add to our portfolio.”

Great job

Ocelot - Angus have just thrown away £4 million from previous placings for Holmwood.

Why would anyone even sign up to acquiring 12.5% of an asset when there was a judgement pending from the Secretary of State....which guess what ....he delivered 2 weeks after Angus bought in to Holmwood basically shutting down the site.

Truly shocking business by Angus.

Rastuss - it does make you wonder the logic behind investors who triple down on a losing investment? Surely they would be better off putting their eggs in a different basket like a covid stock that would have reaped returns already?!?! Why keep investing in a sinking ship? Make up your losses else where....or they are just stuck in 2005?

Rastuss - They still have a bit of pipeline to lay .Slide #2 shows it. Look bottom right and its here. I've attached the Google co-ordinates, so you can then compare the Angus Twitter photos. And I wouldn't be too concerned by folk who state how much they have invested.....you should ask them how much does the share price have to increase for them to break even...and tfor that to happen then they need some people to buy the shares.

http://www.angusenergy.co.uk/wp-content/uploads/2020/05/Angus-Energy-Shareholder-Conf-Call-Presentation.pdf

Google Co-ords
53.360572, 0.225328

Isn't she a beauty? Now how much time is spent between taking the samples, processing them and then analysing them.....before they even know the route?

"Environmental survey underway ahead of the scheduled work on the pipeline"

https://twitter.com/angusenergyplc/status/1314547200328896512?s=20

DoneK - you are confusing me with another poster, but please feel free to spend as much time as you like going through my historical posts trying to find it.

Of course if you can't post it then that speaks volumes

Rastuss - Angus said First Gas was going to be May 2020....so cant really blame Covid for that as some are using. How does Corona quadruple your costs? Maybe Angus was using the same Excell spreadsheet as the Government?

I think folk should really check the Angus Twitter site as it clearly states they haven't started drilling the trench

"Work underway to prepare the existing ground for the laying of the new pipeline"

https://twitter.com/angusenergyplc/status/1314212587387535372/photo/1

That piece of equipment is for taking soil samples only, not for drilling a trench or laying pipe. So they haven't even done the preparations yet?!!!

http://www.geotronuk.co.uk/wp-content/uploads/2016/10/g16_wd_equipment_CompetitorDart.pdf

gkb47 - who carried out the due diligence? Ex- interns?