Member Info for CanaryInTheMine

One of the things that I like most about this share is the fact that the volumes traded are high even on low days.

Yes, and update is definitely needed, but as we have discussed in the past it is not going to be difficult to secure the £20 million package. When you look at the revenue that comes in to Angus on a monthly basis then there very little risk to the lender and the loan can be secured against an asset of proven value that acts as a monthly cash dispenser. Obviously the lenders are going to want to get a high a rate as possible and Angus as low a rate as possible. In the end they will find agreement but the loan will be made.

Yuu do realise that South Sudan and North Sudan are an enormous distance apart don't you? It is nearly 2,000km between Khartoum and Juba. By this definition you could argue that it is dangerous to invest in Berlin right now because there is fighting in Kyiv - these two capitals are closer together than Khartoum and Juba. It is just another example of how you try to spin all information to be negative on Zenith. By your own admittance you are not even invested here so why do you come on here day after day spreading false information about the company?

No Zengas, you refuse to take it in. The fact that the Chinese are going to invest hundreds of millions in infrastructure in Benin as well as the pipeline will kick-start the fledgling oil industry there , a country in which you rightly point out currently produces no oil. If that investment does not go ahead then it seriously damages the developing oil industry in the country. This is obvious whether you wish to admit it or not.

Zengas, of course the coup in Niger has an affect on oil production in Benin if it prevents the multi-billion dollar pipeline and associated infrastructure that was going to be built in Benin to service the pipeline from going ahead. If you can’t see that then you are simply blinded by your own prejudice. Since you style yourself as such an expert on the region, perhaps you would care to share how much oil is currently produced in Benin?

Of course there is an affect from the situation in Niger. It is nothing to do with using the pipeline as that starts in Niger and the assets were in Benin so they were never going to use the pipeline. But the pipeline is going to be a multi billion dollar kickstart to the oil industry in Benin and if it doesn’t get done then that will damage the Benin industry and also anyone who has a license there. But this regional instability is always going to be a problem in Africa which is why the acquisition of the American assets is such a good move.

It’s not surprising that Zenith have dropped the Benin project when you look at the current situation in neighbouring Niger. As mentioned in the original RNS their interest in this project was all to do with the development of the Niger-Benin Crude Pipeline which was being built by CNPC to link the two countries. With the coup in Niger putting this in jeopardy and other potential projects in play in both the US and South Sudan, you can see how interest has waned in this. It’s disappointing to lose another potential project but I would rather Zenith acquire the right project than the first project.

That looks like a very interesting deal. The well drill costs are low and although the production numbers they are aiming for are also small it looks like each successful well would not take long to show a profit. It also shows that without the governmental interference that they got in Africa, Zenith are able to quickly close deals in the USA.

It looks like the wider market accepts that the fact the company has posted record revenues and reduced costs by 30% is a good thig - unlike some of the haters on here who only ever post about the negatives.. This is just for last year too, with all of the acquisitions coming up this is just the beginning for Zenith's rise. We just need to see a couple of them over the line and this price will be a distant memory.

But you are not focusing on facts are you mls? In your previous post you made up your own guesses as to what the expense could be made up of based on nothing other than your desire to post negatively here. The FACTS are that the company has reduced administrative expenses by 30% and posted record revenues - but you have not mentioned any of this. Why is that?

A bit of a leap to say that the share price is down so the company is going to raise money. In fact it is more than a leap. It is a blatant deramp based on no information at all.

As ever mls you come in and immediately focus on negatives. The bit that you should be focusing on is that fact that revenue is up at a historic high and costs are down by 30%. This is a really good set of results and a stepping stone to even better ones once the targeted acquisitions are made. But of course this does not fit your agenda,

I don’t think that we are particularly dependent on any single asset acquisition at the moment, just that we do actually acquire an asset. Yemen would be amazing as it is such a huge cash-generating asset, but I agree it is unlikely. Benin looks good and South Sudan is pretty much unknown but is not going to be small. The American assets will also deliver instant cash revenue and although they are smaller they will not require as much capital expenditure. We just have to get one or more of them over the line.

The RNS says ***on the larger scale (40kg) samples received by our team*** but is does not specify whether that is the team in Bolivia or the team in the USA. It is perfectly possible that both the RNS and the email could be completely accurate.

If this is true it shows progress towards the targeted testing. We know that it is the company's intention to carry this out as soon as possible, so I can believe it is the case, but as ever, you never know with emails posted on this board whether they are true or not. Maybe somebody else should email the company and see if they can get corroboration.

It all depends on the results of the pilot project study. If it is successful, then I am sure that we won't have to chase Cleantech but they will be beating a path to our door.

It's interesting that the people who seem to hate electric cars are the ones who do not own them. Everybody I know who has an eclectic car loves it and would never move back, especially those who bought Teslas. You may like it or you may hate it but electric cars are the future. There were many people in the early 20th Century who said that ICE cars would never replace horses. There seem to be a few of their decedents on this board.

You are entitled to your opinion, but since the share price was around 4p and the company had no money when he arrived, it clearly isn't true.

a big thank-you from me to georg lucan for everything he has done for angus energy. he came in at a point in time where paul vonk had just failed with the brockham well and took over the stewardship of a company that was completely on its **** with and no assets to speak of. in 4 years has completely turned the company around.

he stewarded the company in its acquisition of saltfleetby and managed to finance the complete rehabilitation of the site to make angus the largest onshore gas producer in the uk and he leaves the company in a much better state than he found it, with what looks like a very bright future ahead.

sure he made some mistakes along the way, but the success that he has delivered to all of us at saltfleetby outweighs this by a great deal in my opinion. thanks for everything george, and good luck with whatever you do in the future.

Aren't these two payments the obvious reason why Angus need the £6 million bridging loan?