Member Info for CanaryInTheMine

Quiet trading day here by normal standards.

I imagine it is just professional courtesy and they are simply helping out a fellow gas operator when it cost them nothing to do so. It builds goodwill with others and means that when Angus need a favour themselves others will be willing to help them out too. They probably didn't mention the name of the other operators simply because it is not their business to say what tests others are carrying out on their own equipment.

Flashgarden, it looks like your reading of accounts is still as terrible as ever as your claims about Andrea's salary don't add up. Give us all a laugh and share your workings.

Well it makes sense that the company are now replacing the production assets in Congo with production assets in the USA. I thought it was a sensible move before I knew about the Tunisia situation and I think it is even more sensible now. At least we know that doing business in the USA will not be subject to the same governmental issues that seem to pop up time and again in Africa.

Can somebody give me a link to the update, I cannot find it on the website. Thanks.

What are the tax advantages?

Finishing flat would show that the issues with Zenith were already priced in by the market would it not? Not an oh dear moment at all.

WG818, thanks for the response. It makes sense. Debts are debts however they are incurred. However, as I said to HITS it should not take a financial genius to refinance them with the current income stream, just sensible and prudent management.

HITS - I think that you are right when you say that the catch-up repayments for the missed hedge and the bridging loan are probably the issue for the company share-price at the moment. We have been looking for an explanation of the poor share-price performance and this seems like the most concrete reason for it so far. As you point out it is more of a cash-flow issue than a profitability issue and should be able to be refinanced at terms that are not too onerous considering the current production revenue. However, it does need sensible management . Some clarity on this would be welcomed. I will put a question up about this on the Angus Q&A section of the website and see what response we get at the end of the month.

They only have one ongoing legal case at the moment don't they? The one against the SNP in France. There has been no update on that in some time. I assume it is ongoing but this is a question that the company needs to answer.

HITS , sorry to bombard you with questions, but is WG818 correct that the company has missed the hedges in Jan March and April. How far are they behind, how much do they cost, and can they be made up with additional supplies now? Or is all of this just information that is not public knowledge?

First google search of companies winning arbitrations against countries comes up with this https://www.reuters.com/article/india-vodafone-group-arbitration-idUSL3N2GM29X and they still appear to operate in India.

Flushgarden, it's not that I can't read, it is just that you contradict yourself in every post as well as being financially illiterate. You do realise that there are more costs involved in closing deals than just the COE's salary don't you? The only consistent thing is that you talk complete nonsense, and seem to have a grudge against Andrea that you can never give up. Give it up kid, you are just embarrassing yourself. here.

Oh, the hedge. From memory isn't this around the lowest price on the hedge. I thought that it went up from here? HITS can you clarify?

Remind me again, what is swap2?

So you continue with your claims that all the company expenses go into the Congo budget, despite denying it in the same sentence. You do realise that Andrea is paid the same whether he is in the Congo or not in the Congo. Also that it is possible that he could be in the Congo and also be working on other projects. Just like when he is in Canada he can be working on other projects. Your lack of understanding about finance is laughable.

The business travel and accommodation in Brazzaville cost over £200K? Once again you trot out imaginary figures and expect us all to just believe them because you wrote it. It is total nonsense, and you keep changing your claims every time you post. You claimed yesterday that Congo cost in excess of CAD$20 million in a single year and now you have been challenged on it you now change to such detailed comments as Congo cost a lot of money. It’s not quite genius level financial analysis is it

You make completely fair and reasonable points HITS. I have no idea why the market has not responded better to Angus' new situation. The only sensible conclusion that I can come up with is that the market is unsure that production rates will continue at current levels and is waiting to see a few months of consistent production before it is granted that Angus will really deliver the consistent production and revenues that we are all expecting. Or there is also the possibility that the markets are crazy and value wild exploration projects higher than sensible financial deliveries because you can make a fortune on a single successful drill.

The important thing at the moment is that Angus keep steadily producing strong numbers on gas production without any decline being shown. This is what appears to be happening and the moment and it is all that needs to happen for the company to be a success. It is frustrating that the share price reset is taking time, but Angus is now a mature company that is delivering real money not just dreams of future riches and this will be reflected in the share price sooner rather than later. The company is almost completely derisked at the moment and it is a good top up opportunity.

So the substance of your argument is that you are right because you say you are right and we should all believe you even though everything you have posted has been untrue. Try posting facts rather than fiction and people might start taking you seriously.