Member Info for B2HS2L

rxdav, - If Lucan consults Tidswell, - its to establish what he shouldn't place in an RNS.

What Lucan should be asking is 'Where is the £200,000 loan repayment, - we could do with that now"?

I think Lucan authors the RNS's, which might explain why they are a little confusing and need more than one reading, or an industry expert to clarify.

Charlie, - Do you mind if I ask if you received many responses to your emails?
We now know it is a waste of time to expect a response from info@angusenergy.

BAN SHORTING OF AIM STOCK
This is to make you aware that a petition to ban shorting of
London AIM stocks has been started.

Consider signing the petition if you agree, - deadline 04.09.2019

https://petition.parliament.uk/petitions/242399

This is to make you aware that a petition to ban shorting of
London AIM stocks has been started.

Consider signing the petition if you agree, - deadline 04.09.2019

https://petition.parliament.uk/petitions/242399

BAN AIM SHORTING PETITION

Sunday 3816
Tuesday 4150 so far.

Good news by anybodies standards.

Please keep spreading the word however you do it.
Great that Yanis used twitter, I'm sure this was responsible for reaching many interested parties.

+++++++++++
BAN SHORTING OF AIM STOCK
This is to make you aware that a petition to ban shorting of
London AIM stocks has been started.

Consider signing the petition if you agree, - deadline 04.09.2019

https://petition.parliament.uk/petitions/242399
+++++++++++

This is to make you aware that a petition to ban shorting of
London AIM stocks has been started.

Consider signing the petition if you agree, - deadline 04.09.2019

https://petition.parliament.uk/petitions/242399

I believe investors are just tired of serial delays and changes of plan.
They are busy doing other things, wary of little support for the sp yesterday.
If they are out, within a few weeks they intend to be back in.
Oil is there now, and we are preparing properly to extract at the highest rate we can, but it takes time.

Correction:
£3M was raised for the three oil wells, working capital and appraisal of the new gas project

Charlie,

£3M was raised for the two oil wells, working capital and new gas project as per the April 2019 presentation.

There could be a requirement by the Abandonment Operator and the National Gas Main to have a certain amount of funds available at time of signing the gas field deal.

So another use for the £3M is to say to the Abandonment Operator and the National Gas Main team, that they have raised £3M.

Angus pay a pound and are provided with £2M from the gas field vendors, after deal is struck.

Only then can the £3M be spent on Balcombe and Brockham and working capital.

So by retaining the £3M, they 'qualify' to sign the gas deal, and then gain access to £2M.

That accounts for why they have 'taken such a large placing hit at once' as you put it.

I can't prove this, but with careful timing , the £3M raised serves 2 purposes.

I can't see the Abandonment Operator and the National Gas Grid dealing with a company that is potless.

JMO.

"but we got it for a Quid" RNS:

WL, Lucan thinks this will double (or more than double by now), MCAP.

There will be so many investors cashing out thinking 'Now we're really *ucked', that sp may even drop.

Still praying £3M is NOT ENOUGH to do the gas deal.

This is to make you aware that a petition to ban shorting of
London AIM stocks has been started.

Consider signing the petition if you agree, - deadline 04.09.2019

https://petition.parliament.uk/petitions/242399

My point was that they reported "very good oil reservoir pressure".

Re your "Something going on here that they know about but are not letting PIs know".

I mentioned yesterday that £3M+ may not be enough to push the gas field deal over the line.

If that is correct their will be no gas news because finances cannot improve (unless Tidswell repays the £200,000 loan) without further funding:

ref page 21: http://www.angusenergy.co.uk/wp-content/uploads/2019/03/13C_Annual-Report-2017-2018website.pdf

In 2017, a loan of £200,000 was advanced to former director, Jonathan Tidswell, in connection with settling certain tax obligations arising from historical company matters, approved by the
non-executive directors in accordance with the Company's corporate governance guidelines.
The loan is repayable on demand and unsecured, although restrictions have been placed on
equity or share option dealing by the director during the tenure of the loan.
The board acknowledges its obligation of ensuring its repayment.

Baits, - I think you might be referrring to this 04.02.2019 Tweet from Tidswell:

Although the oil reservoir pressure is very good the water zone which may be as little as a few meters is 200 psi higher!

"preparatory operations for the second stage" from todays RNS.
So clear delineation between second stage and preparatory operations.
Next time someone or something enters the Brockham site, it will be for preparatory operations.

"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." - None of this is in phase 2.

It sounds like the partners are really mad about what happened in January, and are making sure all partners are agreed on PREPARATIONS before phase 2 begins. Tidswell will be cool about this, as he was on gardening leave,
but do the partners know this?

Are we going to see a rig back at Brockham or is that not necessary please?

+++++++++++++++++

When they said they needed to do some preparatory work to the well bore,
- do you think they meant like
INCREASING THE DIAMETER to MINIMISE SLUGGING???

+++++++++++++++++

Some are grumbling about the wording or unclarity of the RNS.

George, if you are reading, - HM Forces urges communications (in order of priority) based on :

Accuracy
Brevity
Clarity
Relevance
Logic

+++++++++++++++++

Pboo are you guys still keeping an eye on Brockham?
Or are there days between someone reporting in?

Just asking, - its probably not blanket coverage.
But is it Kleenex coverage?

Page 21 of the Annual Report 2017 - 2018 on the Angus website:

angusenergy.co.uk/wp-content/uploads/2019/03/13C_Annual-Report-2017-2018website.pdf

This discusses the AIM Rules Compliance Committee.

It also discusses a loan made to JT-P.

I thought this had been disregarded, and the loan was no longer liable for repayment, but it would appear not.

Incidentally page 20 shows that Rob Shepherd was a member of just about every committee board members were voted on to.

He was so closely associated with Rules Compliance and the Audit Committee, he resigned on 10.01.2019, the day Lucan arrived.

Lucan has referred to small companies with plenty of plans but no cash to do it with.

He says they are under-resourced, and nobody takes them seriously without the money to complete the project.

Here is Angus 'on the brink' as it were of sealing a deal for a gas field.

The recent fund raise, raised only £3M, (£5M was also mentioned), and the £0.5M from PI's did not happen.

The national gas grid negotiators might need evidence that Angus has the finances to progress connection talks.

The Abandonment Operator might require the same.

£3.0M plus whatever was in the bank is all they have, so I am wondering if it is enough to proceed with the gas plan.

I am starting to feel that it is the gas field and the insufficient funds ANGS has, that is stalling the negotiations.

Meanwhile Angus has frozen spending on anything but the essentials.

So it might be Angus not the partners who is stalling.

There is some speculation here, and I might be wrong, but something of this nature is causing the hold-up.

David Lenigas! - As I live and breath... any danger of a short term loan?

Is Lucan busy in Middle East practicing his Arabic?

I am going to be as extatic as the rest of you if equipment starts arriving at Brockham this week.

I believe it was the investor presentation April 2019.

http://www.angusenergy.co.uk/wp-content/uploads/2019/05/AE-Investor-Presentation-April-2019.pdf

Therefore providing the gas plan to only HNWI and II investors.

gkb47

1 I don't know if Chris Clay is a contractor.

2 IF JTP is on gardening leave, I don't know who would have been placed
in charge of operations on a day to day basis, and one possibility is
nobody whilst investigations 'continue'.
Another is Andrew Hollis.

3 Chris Clay might have been hired for the duration of Brockham well testing only.

gkb47,

IMO its fine if the company removes Tidswell from the board and gives him the position of Operations Director.

What they don't say, and what I believe happened, is that - due to internal share dealing investigations - JTP was put on gardening leave pending the outcome of the investigation.

Perhaps it suited Vonk to leave the situation in limbo in this manner.

However please see Alan2017 post 23.12.2018 that mentions Chris Clay, - well testing consultant employed by Angus.

If I am right, Tidswell was not responsible for anything between leaving the board and Lucan's arrival.

(OK so he was responsible for Lucan's arrival !).