Member Info for Crocqman

What it says to me is that the post-consolidation dilution has started, and not in a small way.

The mere mention of Riverfort is a red flag, known for many years on these boards and a name synonymous with what some like to refer to as death-spiral financing. A lender of last resort.

As pointed out, where is the expected news on Northfork?

I suppose, when you've been 95% down for so long, it doesn't really matter in the grand scheme of things when the company continues to bounce along doing nothing of note to change their fortunes, despite all the flannel.

gla

Some mainstream media coverage this weekend. Hardly a glowing advert for investment, but it will at least reach a decent audience

https://www.thisismoney.co.uk/money/investing/article-13047377/Seraphim-Space-gain-fund-investment-trust-january.html

What a disaster this has turned into.

The usual delays and not delivering when they said they would.

Change in management, same old 'we will be different' routine but same old ANGS.

The only things that can save the SP now is a good and quick result on the delayed and delayed even more funding, plus Gas storage of which we have been promised an update, but seen nothing. Quelle surprise.

If February passes without confirmation of the funding, this will be the final straw for me, I will sell out and use the losses to offset against gains for this tax year, thanks to the new CGT rules taking

You should never make any trade upon the say so of anyone on these boards.

What research have you done?

Why do you think this might be a good investment and what potential pitfalls do you see?

You say you got lucky on HE1, was that because you did no research and jumped on a bandwagon without knowing anything about the stock, or was it a research based decision?

I rarely post here at all now as it is mainly a preening and posturing board for a handful of posters who are on here all day every day and there is little to be gained from reading what they keep repeating multiple times a day.

It seems you can't post here without being labelled a troll, a ramper, a shorter, a multi-ID poster or someone looking to get a cheap entry.

If you are seriously after advise, then mine would be to not take anything, or anyone on this board at face value.

Do some research, ask questions based on that research, but then research any replies too before making any decisions.

Feel free to ignore all of the above too.

Didn't someone post before Christmas that we should expect production figures early in January?

Not sure that they were expected then on past updates, but having placed, some good news here would not go amiss.

No, there is no way to know for certain because the direction of a trade (buy or sell) is never ever reported to the market at the point of execution (a Trade Report).

The actual direction is only ever reported with T+1 as a Transaction Report to the FCA and this is not as far as I am aware publicly disclosed.

Due to the time requirements under MiFID II to report a trade to the market after execution (with the exception of delayed trades) only limited fields are required to be reported, mostly what is shown under the trades tab as the important data. Each trade is just that, a trade and sites like this use algos as a best efforts basis to guess the direction based on the bid/ask at the time and the spread, so whilst it can at times be easy to work out, when the spread is small and the price is moving it can be tricky to be sure.

The exception is UT trades but they are always negotiated and are both a buy and a sell trade agreed at a mid-price.

I would suggest with the 2 trades mentioned that because of the very small time difference they represent a sell at the lower price and a Buy at the higher price, probably a negotiated trade between 2 brokers on behalf of their clients

Hugely disappointing slide seen here post-Christmas.

And to think that I was hovering over the Sell button in the $290's only holding off to see if the results update at the time would push it over $300. More than $100 down in 6 months is tough especially when I need to raise funds next month for a big outlay.

Still, the bright side is that at least my non-ISA holding is in profit and the loss on my ISA position can sit for a while yet for a possible change.

Note to self, trust instinct rather than hope for a further rise on news for a few extra £££'s profit.

gla

I am not sure that the market will be that interested in Balcombe, or Lidsey or any of the other current 'mothballed' assets.

They are tainted with the past failures and will be costly to try and do anything with, and with no guarantee of success.

Imo, better off trying to offload to someone to take on the cost and the risk and concentrate in SFB and gas storage solutions as these are what will excite the market (gas storage more likely with partner interest). New ventures should wait on a more significant turnaround in financial fortune than receipt of the delayed funding.

These legacy assets are a millstone around the neck of ANGS.

Any further announced delay to the funding will not go down well with the market. And I would hope that a full plan for 2024 to come along with this announcement is a minimum ask (plus a front and centre interview from the elusive CEO.

IQ day next week. It's a shame they do not publish the Q's beforehand, but they seem to have moved away from what was a fairly transparent shareholder dialogue with the original format to a secret one whereby they do not allow challenging Q's to be raised.

Just imo

gla

Agree, Comms has been poor, but it always has. When GL came in he said he recognised this and would change. He didn't. The implementation of IQ's has been welcome but seems to be used as their sole means for Comms. RH came in and said the same about Comms needing to improve, but has also done nothing.

I posted a list at the beginning of December of all pending news expected before year end and early January.

Other than production figures and the delay to the funding (of course), there has been nothing of note about the Balcombe appeal, news on gas storage and the 3 interested parties, general update and plan for 2024, and more.

I was giving end of Jan as the target date to make a decision on cutting my losses here based on this expected news flow. I still plan to exit here before the end of this tax year but will await firm news on funding and hopefully a gas storage update as these are the only 2 bits of news imo, that will give the SP a lift. Anything else is just pie in the sky and is being used as bait to try and keep up interest, and has been for too long now.

gla

With a mcap of less than 5.5m, can't see institutional investors taking any interest. There wasn't any when the mcap was considerably higher and the majority will have restrictions on minimum mcap for investment and % of total holding in small caps

EQT is likely not currently a good proposition for the risk at the present time.

Need North Fork news to stir this from its slumber. And soon

gla

Could it just be general interest following the Japanese moon landing at the weekend?

Not read too much about their mission so not aware if any of the funds investments were involved in the project.

Agreed, the rise is welcome and also just 50% down now

Piece on Countryfile regarding onshore oil and gas exploration.

Interview with the CEO of Egdon and covering the environmental impact.

Mentions of Wrestle, Biscathorpe, Horse Hill and other unnamed sites in Lincolnshire, and Surrey as well as court cases in recent years where local planning has been overturned.

Obviously shown from a negative aspect given it is the BBC but a short comment from one site (wrestle, i think) where some local campaigners said that you wouldn't even know the site was there due to screening, etc.

What is it they say, all publicity is good publicity?

Why is it sneaky that a 5,000 sell came up as a buy?

Surely everyone on these boards knows by now that the direction of a trade is never reported at the time of execution under a Trade Report and the direction indicated is just on a best efforts basis by sites like this.

No one is trying to fool anybody and no one is playing games.

And a 5,000 trade on volume of 15.5m, which in itself is only 0.25% of total shares in issue is nothing. The market is not going to be moved by an order of this size being 'reported' incorrectly.

The silver lining for me has been that I have been able to offset my loses here to negate any capital gains tax for this year.

The chunk I sold before Christmas was at a 95% loss.

I am in the process of buying a house so will be liquidating circa 85% of my portfolio in the next 6-8 weeks. The remainder of my holding here will likely be sold to negate further gains elsewhere whether that will be for this tax year, or saved until the next one.

At least when I reinvest in the future I have a clearer indication of what to invest in - my funds have far outperformed my dividend paying stocks and my small caps over the past few years so I will stick with funds in future along with any legacy positions held following my upcoming cash raise.

I will still maintain a few small cap positions but they will be producing ones with a history of delivery and cash generation.

Good luck to all

The last time daily volume exceeded 1% of shares in issue was on 1st December, and it barely managed it then.

Quite a stretch to suggest that 'the selling continues' when the number of shares sold on Friday barely breached 0.1% of total shares issued.

Not sure we can really read any trend here going by volumes traded.

Will wait for next news and see how that affects sentiment/SP

There are far, far worse stocks than this.

At least SEE have a product, have announced contracts and collaborations and are generating an income. Yes, things could be better, especially the SP (which some seem to use as the only indicator of performance), but in these post-covid years I am far happier in stocks like SEE where there is tangible progress and a revenue stream, rather than explorers and start-ups that are burning money raising via dilution and generally have nothing material to show for it. Different risk, perhaps, but eyes wide open here despite the frustration at the slower than anticipated rate of progress.

gla

Just to add, I am not trying to defend EQT, I am as frustrated as anyone else at the events of the past two and a half years

Why would any bank or anyone providing finance take a company's word for anything that is relevant to the terms of any deal being made?

Surely it is basic practice to make a site visit and get an independent/professional opinion beforehand

For me, this is a big month ahead for ANGS.

News expected on several fronts, not least the much promised, and long awaited refinancing news (full terms, completion, drawdown).

I know it was new year, but no IQ's currently up on their site, so nothing on their promised before year end update on the 3 interested parties in the gas storage. More signs of it being the same old, from the bod, much like the last 6 years or so.

Personally, I am expecting a full operational update and detailed plan for all assets in 2024 before the month is out on top of the refinancing news and gas storage update.

I have set month end as my deadline for a decision as to hold, or cut my losses here

gla

Very good post Zan,

I have been saying similar on some of my other worst performing stocks for the past couple of years.

Post-covid has definitely been a challenging time for small cap stocks , especially when looking for funding, closing deals and sticking to expected timelines with delays and increasing costs on materials, labour, etc.

Many posters are more interested in quoting those past highs regardless as a way to kick a company, but like you say, lots of factors at play and many non-company specific. Criticism of a stock, management, performance, etc not a problem for me so long as there is some validity behind it (even if I may disagree) much in the same way as the always optimistic, everything is going great guns posts are viewed with caution by me too.

This has always been a good and informative board and I welcome the alternative views.

Everyone has different criteria for investing, different time horizons, different risk attitudes, etc and will see some aspects of a given company as being more important than other aspects.

My strategy has been to move away from exploration and into producers who are at least generating cash and not throwing money into a hole with no guarantee of success. We'll see how that turns out in time.

Good luck to all with their investments in 2024 and beyond