Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
Yes, well done on a clear and concise RNS.
Will look forward to the change in production over the coming days until the 3 wells are producing in circa 1 week to 10 days.
Personally, I couldn't care less about the last paragraph about how Angus management is now able to deploy time and resources to monetising its other oil assets, developing a long-term transition storage capability at Saltfleetby, progressing its geothermal programme and exploring other strategic opportunities.
They should be concentrating still on SFB from now until all 3 wells are producing together. For the sake of 10 days or so, they should not be taking their eye off the ball with this.
gla
I believe that results are usually released at 7am on the date specified.
Not sure if this is market convention to enable analysts, etc to pore over prior to the market open, but I am not expecting the results to be that good. I am more interested in the operational updates in any case as YE 2022 was a write off here for me.
I see there is an RNS on the official London Stock Exchange website.
No information behind the suspension made at the request of the company
https://www.londonstockexchange.com/news-article/market-news/suspension-mode-global-holdings-plc/15938845
Waiting game. The 'suspension' is killing me. I'll get my coat
No ideas.
I only clicked here as I saw there had been a post and only then saw the suspension alert.
Hopefully, this will be pending the end game.
There appears to be an issue with LSE and other sites reporting RNS's this morning too.
The wait has been too long for them to realise any value. I had long ago written off my 4 figure investment here, just wanting to get something back to at least cover my HL fees for a few quarters and move on.
What a sorry saga this has been
Agree RT, any dividend in the near term is likely to be in the form of special dividend, imo.
I do not see ANGS getting to the stage of regular dividends any time soon, but a one-off is possible.
When this might be possible is another story.
It is worth noting that UJO are paying a dividend. Initiated with a special dividend last year, and with an interim dividend recently announced too. Something that was similarly promised, and many believed to be pie in the sky. I am not invested there btw
Personally, I would like to see ANGS start a buy-back program too, but I may not stick around to benefit from that
I checked the site several times over the last week, and could not see any questions submitted.
Is it new that they do not post questions and just add them and answer them at the end of each month so that no one knows what has been asked?
This seems to lack transparency, something which this IQ format was supposed to increase.
I expect the usual to jump on this as nit-picking and defend ANGS, but this method although answering questions that do not need to be RNS'd, is not in line with their published guidelines for submitting IQ's - they should update this page if they are not going to upload IQ's when submitted and just print everything at the end of the month.
Having said all that, there is at least some clarity now. It is just a shame that it has taken almost 2 weeks of silence for them to do this.
Frustrating as ever to be be invested here.
One point, their lovely infographics and past RNS's repeatedly stated that they expected well clean up to take a few days. One IQ states "We know from other Saltfleetby wells that clean up can take a number of months to achieve". And yet, to my knowledge, they have never told us this before. Also, this answer contradicts with another answer from the collated questions on the previous RNS. And many here wonder why many distrust the comms from the company. Over-promising and under-delivering indeed.
Let's see what tomorrows RNS has to say, it should provide additional stability to the SP at the current level at the very minimum. We will see
gla
Nice one smiler :-)
Whilst it would be good to get some additional II investment, much like many thinking the long stop date was set in stone and getting excited for the last few weeks, the £100m does not guarantee that they will come flooding in. It makes it easier for them to do so though.
So many criteria for some Fund Managers and II's when it comes to their investments, especially in the small cap space. Some will see KOD within their scope once funding hits the bank account, but many will still see barriers to investment through other criteria.
We are already over the £100m mcap that will be a barrier to some, a lot will have limits as to companies under £500m mcap though, and it is being on the AIM index itself that will be a barrier to many which will have small allowances for investment across the index as a whole, let alone the sector.
AIM is great at the outset for allowing companies to grow, and for raising funds, but it can become a millstone too - I think we are a long way off moving from the index, but the cash arrival will make this much less of an issue here, imo.
Some specialist small cap funds, or II's who do their own DD rather than be managed by investment houses themselves will be the target, and as Lav has posted the addition of a broker that can access larger investors is a big positive.
The biggest attraction to these investors for me, is the bod themselves, both through their management, and their direct investment into KOD - several small cap funds will only consider an investment when management is personally invested themselves (not options).
As with most things though, we can only speculate as to larger buyers coming on board through the sizes of the trades being seen. Only TR1's will confirm the change to the make-up of investors here.
gla
That price has to be a case of fat fingers, surely?
Price is almost 17% above the Ask.
Maybe someone trying to get out of the door quick before the long weekend :-)
Also, the large trade after reported as a sell is a price higher than the UT trade and at a later time, so potentially a Buy too?
Who knows, maybe see a correction of the 650k trade next week. Odd though
Likewise, if the rampers are so confident here, why do they spend all day reassuring each other that there is nothing wrong despite the ongoing silence from the company and lack of clarity as to what is actually happening on site?
Surely they should be sitting in the sun, or dong something more worthwhile too and quietly waiting for their 'guaranteed' rewards?
The rampers on these boards are just as dangerous as the de-rampers, who, more often than not turn out to be closer to the reality when it comes to predictions.
Funny how when Singhie recently posted figures for the various SP predictions from a month ago given for 1st May, showing a mean price from 20 people of 3.31p it was immediately dismissed as just a bit of fun (my very conservative price of 1.95 having dropped from a 2.30 high is looking pretty optimistic right now).
Well, I am off to do something more productive. Pointless guessing and bickering here. Will await official news and hope the company provides some real clarity in their next update. Still positive and cynical in equal measure here with a healthy dose of realism thrown in.
gla
gla
Yes, this is what any nervous PI's need to remember.
We have seen plenty of evidence of site visits, group photos, etc in the last week to show that this will happen.
It is not like we have had radio silence for 3 months and then tis has dropped.
This could be seen as a top-up opportunity for those looking to do so (not for me).
gla
Personally, I think that if there is the need for an extension to the long stop date, we would not get an RNS until after the 30th.
Yes, before is possible for both confirmation and a delay, but it is looking more likely that we will see an RNS on Tuesday one way or the other. Cue RNS before for some humble pie!
It should be stressed that a delay would not be a big issue, it is not uncommon, and a small blip to cross I's and dot T's would not greatly impact on operational timetables.
The recent visits, tweets and photos surely lead everyone to have comfort that all is going well. The funding will happen, imo, just perhaps not to the original tight timescale.
Sadly, the market would probably see a delay as cause for a drop, depending on how any confirmation is worded - if they were to say completion in 2-3 weeks, or end of May, for example due to delays in signing paperwork, then it is not the end of the world.
I will not be fretting over a long weekend if we do not get news today or tomorrow. Happy to sit tight this close to whatever news may land
gla
I think the frustration here, for me in any case, is two-fold.
Firstly, after teasing tweets and (fairly) good comms, for a change, ANGS have gone back into silent mode.
OK, so we are still in April and they told us to expect combined flow rates 'later in the month', but we are now more than 3 weeks on from this, and the subsequent RNS was a real dogs dinner with no real clarity as to what is really going on, and I believe the first mention of a new well flowline being needed. Not helped by the award of options immediately after.
Secondly, and this is no slight against the experts on here who have been a great help, but we have been told throughout the latter stages of the side track process that this is a 'simple' case of following steps 1, 2 and 3, then bob's your uncle. Now we are seeing that steps 1,2 and 3 lead to additional steps A.B and C which could also give rise to steps X,Y and Z, all not previously mentioned as possible outcomes, or requirements, but that this is normal and not a problem. Everyone seems happy to wait, but that is all investors ever do with ANGS.
Again, not a slight on the experts as I am sure most are aware that things are never simple, delays and cost over runs do occur, and things do not always go to plan. But, to keep hailing SFB as a great success and that GL and the bod should be congratulated is a little disingenuous, imo.
It took far, far longer to get SFB into production than original estimates put forward by the company, and at a far greater cost than anyone was ever told, and the side track has gone the same way.
Yes, there are many positives for getting to this stage and well done to the team for getting a steady income from production, but the time and cost has impacted greatly on finances, profitability and now, sentiment.
An element of trust had been restored when SFB came into production. This is now being rapidly eroded for many, as it always seems to with ANGS and the bod with lack of clarity in their RNS.
Again, no slight intended on the experts, but the goalposts do keep moving here, and to keep being told it is normal, we are happy to wait, etc is not always helpful especially given the past here.
Apologies for the long post. Off out too, so will not see replies, but I will add thanks to the many experts here, it's just that the reassurances at this stage seem hollow.
Come on Herbert, give us an interview - I get the impression too, that GL was more of a company 'face' than Herbert is likely to be when it comes to media duties, interviews, etc. Hope to be wrong on that score.
gla
4 reported trades worth less than £2k in value and the SP is down 15%.
Sounds about right
It takes a long time to extract value.
The trouble is, the longer it goes on, the less value there is to extract.
Meanwhile, they continue to extract something else with their shareholders
Anybody considered submitting an IQ on their website?
I would, but they never seem to accept anything I submit despite being written in a respectful and clear manner.
I think they may have blocked my email address due to submitting several similarly respectful email queries over the past few years which they never reply to, or acknowledge.