Member Info for Cardinal3

Why would anybody spend anything at all on Brockham when it has been deemed sub-commercial?

Pump and dump you must mean...

I totally agree with Wolf. I smelled a rat when Lucan put up the gas purchase. You wouldn’t do that if you were confident in the existing asset. In addition of course Lucan’s contacts would have earned a slice of the placing fees. It justified his position on the board.

I have joined the sell-up brigade and got rid of my last 125k earlier. I don’t have any faith in the board to get the oil out, and the distraction of the gas deal is another potential bottomless pit of financial demands when costs are underestimated and escalate. No, I don’t love the share. You can get too attached though. Long sigh....

The petition is poor because it refers to just one company ie UKOG when there are lots of companies investing in on shore assets. As such the petition reflects only self interest in the one company. Without the first sentence it might be worth a shot but why would anyone other than a UKOG shareholder sign it as it stands?

There will be an RNS on or before next Thursday (30th) to give the result of the open offer. I would expect a statement to include comment on progress or otherwise on Brockham at the same time. They can’t maintain radio silence any longer than that, however much they want to peddle the gas deal.

Thank you Neeko as I was able to catch the painful end to her statement on the step of Downing Street. Such a sad time for her and difficult to give such a statement and, as such, credit is due for her bravery. I am not a Tory, nor a Brexiteer, but recognise she has done her best in impossible Parliamentary circumstances.

I watched the interview and have some concern that the gas project is a deliberate deflection from Brockham and The Weald in general. I remember seeing this in another company which widened focus prior to a poor RNS. I hope this is a misread on my part. Meanwhile the political risks are rising with the Tories in meltdown, the increasing risk of Corbyn and the rise of the green agenda, whether we like it or not. Basically we need to get on with it while the going is good.

The date of the open offer was most likely set to take account of a positive RNS in advance of that. Nobody rational would apply in the offer with the market price as it is at present.

Very technical. The detail of paperwork and raking over old coals comes secondary to where were are today and looking forward. ‘Baited’ breath? Looong sigh.

Gkb47

Look at the RNS tab at the top of this page and you will see it was published on 7 March and there is a link to the Angus website.

There is a good reason for exercising options at a low share price- tax. Income tax is calculated on the difference between the exercise price and the share price- the notional profit is taxed at income tax rates of up to 45%. Any sale above the share price is then taxed as capital gains tax at a maximum of 28%.

It therefore makes sense to exercise when the price is low. Many people sell enough to pay the tax on exercise and keep the rest, so selling some shares to do that, while retaining the rest, isn't necessarily a bad thing.

As Alan2017 on twitter said "Alaskan North Slope keeps on giving". Will he add, "and has taken away"?

I got the impression he knew it all. Perhaps he doesn't.

Thankfully I don't follow long sighs. Life is too short.

Poole-gems

You need to have another look at your tax caluculations on ISA before giving your advice! The allowance is £11,700 this tax year, not £1,000, the tax rates are up to 20% on shares not up to 40% and they are, as bladehater says, ISA as in Individual Savings Account rather than ICA.

Other than that I agree with you.

Nhawan

I am hardly going to deramp my own interests and I see no reason why a simple observation should receive your abbrobrium. No wonder people don’t post.

Without wishing to be petty or pedantic I would like to point out that the word ‘accepted’ with the planning application is not one that should be used. If a planning application has been successful then the word ‘approved’ is the right one. I say this because Angs has form in failing to deal with planning issues and we need to have no further shambles.

When you put in the landing application in the first place it has to be registered. It is usually at that time you could say the application has been accepted- it’s the start rather than the end of the process.

Publically he said something along those lines.

My immediate reaction is like scallywag earlier, different lines of finance to get rid of the scourge of Y.

The disposal by Doriemus/DL of the interest in HH could in due course provide funding for a longer term partner for ANGS. DL might be a pain at times, love him or hate him, but he did want Vonk out and he had previously said he hadn’t been impressed by the Christmas closure.

This is all speculation on my part so take it with a pinch of salt.

I wouldn’t rule out a link to the UKOG announcement re Doriemus’ sale of its HH holding.

1 No more wasting cash on legal fees

2 Deliver on well tests

3 Commitment to corporate governance and transparency.

So far as I am concerned these all matter and are to be welcomed. We have had a year or more of poor performance on all levels. Whether these guys deliver is obviously an open question but it can’t be as bad as it has been.

Hi Superowl

You are of course spot on about only needing to send in the proxy. Hardly any shareholders ever go to general meetings.
Vonk would normally have to face shareholders only at an AGM. This meeting could provide an ideal early opportunity for shareholders to give Vonk a much deserved grilling.