Member Info for Bridgedogg1

Per day?! That would be nice ;-)

Yes disappointing share price reaction, to what was positive but I guess already known news. Ultimately we need to see the cash coming in and deployed in an effective way. At the moment I wouldn’t be against paying down done if the debt. While I realise it’s appealing to invest while the oil prices are high it’s going to make us less resilient to price weakness. Paradox is clearly the money maker here abc it’s not often you get a free well to test the geology. The second drill should be a great success for the company and shareholders.

Haven’t they stated the refinancing is targeting £21m?

Looking at the previous RNSs looks like the estimate is 500bopd net.

At current oil prices it basically free money on these wells. Payback must be around 4 months? Very excited to see the flow data.

“... Instead the conversion, admittedly very painful at these prices, removed £3m of debt from the balance sheet and has upgraded the chances of a cheap and successful refinance from good to excellent.”

Investor Questions Oct 31st31 Oct 2023 20:38

Recently asked questions answered on the company website.

https://www.angusenergy.co.uk/media/investor-questions/

Beginning to look a bit more tasty here. Lots of good news flow to come.

Absolutely amazing series of questions answered. Well done to those that submitted Qs.

“ Instead the conversion, admittedly very painful at these prices, removed £3m of debt from the balance sheet and has upgraded the chances of a cheap and successful refinance from good to excellent.”

Upcoming news on refinancing and flow line should push this well over 1p. Expect an uptick in demand for shares and share price tomorrow.

Deramper wetting themselves.

The same is true of any large shareholder. The fact that they continue to hold on to and accumulate shares can’t be a bad thing.

“…of which 816 million will definitely be issued very shortly”

-The 516m were issued yesterday, subject to a 1 year lock up.

300m warrants have a strike price so they have to be exercised (and paid) before they are issued. This won’t happen if the current share price is below the exercise price, if they are issued that means, a) the share price has risen and b) more money to Angus

“..of which 1.5 billion are fairly likely to be issued in January”

Why likely? The company has said it’s working on refinance that it expects to complete before year end, and there is the option to roll this forward. In the meantime plenty of cash is flowing into our coffers.

Agree re previous CPRs but this one is based mostly off production data and has used various conservative metrics so yes I think it will carry more weight than previous ones.

Yes it’s not great that the company can issue lots of shares but I believe it’s good news because the ability to do so may be part of a refinancing agreement, which is ofcourse pure speculation but it’s not speculation to say the recent conversion of £3m was required for better refinancing terms because this was stated in the RNS.

The company is working on refinancing which they expect to close by year end and have only just gotten past the last remaining hurdles.

CPR

Conversion of £3m to improve balance sheet

Share authority

Why now all the talk of conversion when the company has clearly stated that refinancing is the aim. If it gets to March 2024 and there has been no refinancing then that’s much more realistic but now?? When the asset is producing steady income and the asset has been independently verified? Seems like needless decamping to me, especially when the crunch time is 5 months out. I think there will be some good news very soon

Deramprs in overdrive!

As I see it the global refinancing was waiting on the CPR and additional authority. The Aleph faculty runs to the end of Jan and can be rolled over for another 3 months, at a cost. Clearly the BOD know it’s sooner the better on this and I’m much more positive about Angus now than I have been in a long time. Once the refinancing is done we will be on a much more stable footing and the disparity in the valuation will become clear to the market. The warrants will provide additional cash flow as the share price rises, along with rising gas prices, Balcombe and gas storage providing some welcome future excitement to the share price. It’s bounced strongly off this level before, refinancing should see a sustained rerating.

Great. With this and the CPR everything is covered now for the refinancing. I expect it to come very shortly.

I don’t believe either will want to take over the company

Can BIDS draw down more than £500k without putting the lender at over 30%?

Do we think there will be news tomorrow on the new wells?

there’s nothing to suggest the floor of 0.4p/share doesn’t still apply which would be about 0.54p pre 25% discount.

seems like we are paying back 0.5m per month, with £3m converted we should have good shot at finally getting some good financing terms. the bod are confident it will be sorted before the end of the year. we’ve heard a lot of **** from the bod but the situation at lasts suggests that’s this could have a positive outcome for shareholders. yes we’ve been lied to before but with the historic paybacks and cpr this seems to be lining up nicely.

Lol the guy has 400 investments with a minimum of 10k (so around £10m?) and still has time to post on the KOD board 10 times a day. Hmmm

Looking at the terms of the warrants I believe the floor was reduced to 0.66p due to the placing at that price. This should have but wasn’t included in the RNS. An unacceptable oversight rather than deliberate misleading.

No raise needed assuming we get the elusive diamonds? Do we have any indication how much they are worth? Will they cover the c. £7m debt?