Member Info for B2HS2L

Yorkshire,

Liked your 15:26 post concerning failure to fulfill promises, and the consequences. - Viva Hotel California.

However, maybe its time for a name change, adopting a different set of rules that Tidswell
will not fall foul of, so that he can become a director again.
(How many MD's fall foul of their own rule book adopted before start of trading.
Answer - only those who didn't intend to operate within the rules, so didn't bother to read and understand them.)
Tidswell has not been found guilty of breaking stock market rules, - doesn't mean he hasn't.

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Question 1 for CC - Why hasn't ANGS called in Tidswells £200K loan?
(The companies ability to raise money at present is nil, so £200K is needed for those new Saltfleetby costs.
Only funds needed to research the new prospect were raised in the last placing.)

Question 2 for CC - Why do we NEVER hear from Clanwilliam. -
It's not as though there is little for him to comment upon,
especially as the gas field is the project that got him the job IMO.

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Lots of posters justifying the companies worth right now.
The problem is that on AIM if there is no news - sp falls. What news are ANGS waiting for?
answer - Reconnection agreements / schedule at gas field.
If that doesn't happen, - the £2.5 Mil will be spent on abadonment costs.
The only other news short term might be the sale of Brockham, - so from my perspective the sp can be expected to head lower.

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I'm not sure if this has come up in coversation yet.
The day the BoD decided Brockham was a duster,
Lucan knew he had to issue an RNS to that effect ASAP as it affected sp.

In the same way that it was a complete surprise to the BoD when Tidswell revealed to the BoD his share dealing a year ago, then it is possible that Tidswell revealed to the board with little warning that "Further works on the BR-X4Z borehole have been completed and, following analysis of the results, it is the view of the Company that, on any conventional approach, it is extremely unlikely that commercial hydrocarbon flow can be established from the Kimmeridge layer at Brockham".
It's possible (but not likely) that Tidswell kept Lucan (and maybe Clanwilliam) in the dark until shortly before the RNS.
If this is the case then they will be looking for a way to rid themselves of Tidswell, because this has caused investors to view Lucan as a liar.

I would have thought the only people willing to buy shares after doing any kind of due diligence
would speculators, not investors.
I am expecting an RNS which the CC will amplify the content of, but I don't know what to expect as subject matter.

I am not expecting Brockham to be discussed much, I think this is more an opportunity to discuss Saltfleetby.
I've been lied to enough, and will find it easy to disbelieve anything, whatever the CC discusses.

"difficult to see what more bad news they could produce to prompt any further selling in the stock!"

How about 'we can't agree a connection to the national gas main, the £2.5 Million is going to be spent on abandonment'.

Oops - that's the good news!

I still think that a 'GAS man' will need to be recruited to be a gas production manager or even a director,
(I can feel JT-P simmering now :) ).
Form an orderly queue there, - you must all be so excited to work with Jonathan and George..

Who would want to fill that vacancy now..

3) the acquisition of a gas asset for £1 that should add 4p alone to the share price.
Double headed, - we didn't get a 4p rise IMMEDIATELY as stated by Lucan, we got nothing, in fact we got an immediate increase in overheads at Saltfleetby, - wages / maintenance costs.
The announcement that Brockham is no more does not change a thing at Saltfleetby.

So when will we see that 4p reflected in the sp please?

Angus Energy
"It is difficult to write anything sensible about the recent shenanigans over at Angus with board changes, advisors leaving and being replaced so I will not say much. I wrote recently that the shares were ‘uninvestable’ and right now there is much to do by the new management team to restore confidence and plausibility to the company, watch this space…"

If he wasn't sure he was right when he wrote this, he sure as hell is now.

gkb47, - if you are still interested, Alan's introductory comments concerning Chris Clay are 33 pages back in his Member Info listing, dated 23.12.2018.

gkb, - not around until much later.
1 I suggest we look at Alan2017 posts. - I have recently done so on researching something else. Try 35 pages ago for starter.
2 I need to be part of that question and answer session soon.
3 Alan is probably licking his financial wounds like we all are.
He has been pro Brockham, he'll post when he's ready.
good luck for now.

Gkb - Alan2017 stated that he believed that 'Chris Clay' was in charge at Brockham in Dec / Jan.

Charlie, I'm starting to think acid was used during the problems experienced at Brockham in Dec / Jan.
I'm sure there was drone footage of what was identified as acid containers, but we don't know if they were used.
Maybe the formation is damaged with acid, but this would have known this from logging for water ingress and re-perforating I think. Need a proper oily to confirm.

Preparatory discussions commenced between JT and the Lender prior to commencement of Closed Period on 30 May 2018

Tidswell 'steps down' early July.

From 2016 until 02.09.2018 Angus Energy Nomad is Beaumont Cornish Limited.

Then RNS:
03.09.2018 - Angus Energy plc (LSE:ANGS), a conventional oil and gas production and development company, is pleased to announce the appointment of Stockdale Securities Limited as its Nominated Adviser and Broker with immediate effect. - Previously Beaumont Cornish Ltd.

Then RNS 29/01/2019
Vonk resigns etc and -
"The Company has also, in conjunction with these Board changes, appointed Beaumont Cornish Limited as the Company's Nominated Adviser and W.H. Ireland Limited as Broker with immediate effect.
Prior to this date: Stockdale Securities Limited (Nomad and Broker)

So was Tidswell actively dealing shares during a closed period, and is this tied to Nomad changes?

In order for someone to be in the very early stages of discussions with ANGS re the disposal of interests at Brockham, prior to the announcement of not proceeding with flow test, it must be one of the partners, (insiders).
Alba from their RNS's are waiting on the reasons for not proceeding with well test, so I doubt its them.
Lenigarse would get my vote.
Long term associate of JTP, interested in weald oil, wanted out of Lidsey but not Brockham, unclear how much dough he has to play with after last weeks bust up at DOR that concerned other parties unhappy to stay invested in weald oil.

He has the motive and the knowledge, and maybe thinks he can frack it, or find someone who can unlock the oil by natural methods.

Baits,
refresh your memory on the JT-P twitter site - https://twitter.com/JonathanTidswe1
Look at the photo's and what he says about the state of play at Brockham 04.02.2019.
Recall he was on gardening leave until Lucan was appointed at the end of January,
and the 08.02.2019 post -
"Team 100% up to speed on what needs to be done now.
Not being involved in operations for over 6 months now means needed to fill in a lot of gaps.
As I am sure people are aware operations where not done as I would have liked".
Tidswell is confident he can fix the 'mess' he thinks Brockham has become in his absence.

This was all from someone who had not been involved at Brockham before Lucan is appointed, since JTP stepped down as MD in early July 2018 pending the outcome of the internal investigation into share dealing without BoD knowledge.

Its possibly not deliberately misleading, but he can't know what he is talking about if he has had no involvement for 6 months.

Shutting down and exiting from Brockham I understand, if there is no chance of commercial flow.
But they raised £600,000 recently for Brockham in the Placing.

Some of that must be left surely, if they are not to persue Brockham part 2.
I fear they will waste at least some of it exploring Lidsey.

The only things Lidsey has going for it are a production licence, and wells from which the prospect to the west MIGHT be side tracked. It is not a commercial site.

Prospecting is probably on ice at the moment in the board room!

Beginning of first video - Barder states ED is a $5 Billion global market.

Previous estimates used by the company have been more like 1 - 1.5 Billion.

Does anyone know of sources for a global market estimate of this size please.

I nearly spilled my beer when I heard $5 Billion!

Half Year Report 24.06.2019

17. SUBSEQUENT EVENTS

Mentions placing, but no mention of Open Offer or income raised.
- Couldn't have happened then..

I did not agree with Lucan's suggestion that the gas field would add 4p to the sp.
Once connected and gas flows, the company will need to save gas profits to pay for drilling and connecting new gas wells in new fields as a priority.
Overheads for vendors staff becoming Angus employees, and maintenance responsibilities from now on.
New Gas production manager or director now required to project manage gas connection / well workovers, and liase with national gas main / OGA.
Little profit contribution from gas for a long while.

Alan, - I've been looking at past posts and discussions concerning the use of acid at Brockham.
I am suspicious that if it was used in January, (and I believe there were drone images of acid containers at Brockham), then its use might contribute to a reduction in flowrate, and that is what is behind the requirement for work prior to start of Brockham part 2.

Do you recall if acid was used, and whether its use may harm flowrate?
Officially the preparatory work is thus:

RNS 03.06.2019
"The further preparatory work aims to ensure the borehole is in optimum condition for testing, and to give the best possible communication between the well and the fracture system in the formation".
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Also, - If the bottom of the well has been plugged, is it probable that we are no longer in contact with the lower Kimmeridge layer?

Spider, - I too am worried about my holding..

I don't have anywhere near enough.

...Tidswell is not a board member, and will not regain board membership.
The company could sack him, and ask for the loan repayment, but as Lucan owes his job to Tidswell, (and is doing a reasonable job so far with a few exceptions), I would suggest that only Clanwilliam - should he desire - sack Tidswell, and time is not right.

The RNS states:
"The Company has concluded its investigation into the dealings in 39,000,000 shares belonging to its former Executive Chairman, Mr. Jonathan Tidswell-Pretorius ("JT")."
- So I guess no further action is envisaged.

But a better response would have been to issue notice of repayment of the 'repayment-on-demand' loan he has not paid a penny toward for years.

The above situation gets to the center of the reason why Angus Energy's reputation has been dragged through the mud as far as the market is concerned.

Tidswell must never captain the company he helped found again, he broke his own rules.

However, with Brockham apparently close to the gravy stroke, and Tidswell in charge,
perhaps the time is not the right to demand loan repayment.