Member Info for Crocqman

For me, there is definitely potential here. Huge potential? We'll see. No SP predictions from me, too many variables at play.

Has everything been plain sailing? No. But I do like how they got on with the infrastructure and efforts to try and mitigate the seasonal weather that affects the area at the outset. The financial side has not been the best and there has been a lack of transparency, but they are producing and this is the main reason why I added throughout this year.

I reduced my average from circa 50 to a touch under 25 and am happy at this level until I see reason to take action.

There are always things that could be done better, or differently, but for me the positives still outweigh the negatives.

I understand that there are those with higher averages and it is easy to look at the SP at one point and compare vs now, but that is too simplistic and does not always tell the whole story.

Let's wait and see on the funding. Not all dilution is bad and dilution here, at the right level, would be better than dilution without any income whatsoever. As I said the other day, an off-take or two to help leverage funding would be ideal, but that may be wishful thinking at this stage.

I disagree that underwater holders here have little choice but to hold and hope

gla

Let's face it, regardless of what the terms of any refinancing deal are, some here will say it is done and sorted and we move on, some will say it is a good deal, and necessary for ANGS to move forward and take the good points from what is announced, and some will say it is a bad deal and highlight any lack of transparency in what is announced along with any given terms.

Most regular visitors here will already know which camp some of the more vocal posters on here will be in even before any deal is announced.

gla

Last market day of the year. I am expecting news.

Looking at past IQ's, they advised that they would give us an update on the 3 interested parties and gas storage at SFB by year end regardless of solid progress, or not (IQ 02/10). An update either way to keep to their word. A one-liner in the 20/12 Global Refinance RNS does not cut it as an update for me.

From IQ:

Hi, Can you update shareholders on the progress of talks with the 3 interested parties ref: storage at Saltfleetby. Do you still anticipate a deal will be concluded by year end? Asked on 2 October 2023

We continue to engage with interested parties on the storage potential of the Saltfleetby Field and will update investors when there is solid progress to report but at any rate with an update before year end. We continue to see high levels of interest in the storage project.

Thanks HarChris.

I will look forward to their update and news on financing

HarChris,

Interested in your observation: "Would have liked a post-period update but seeing as I'm reliably informed we should get it within 2-3 weeks it's long to wait for the next quarterly numbers".

Where are you getting this timeframe from? We normally seem to see these updates in April and November looking back.

I would expect to see an update once any funding has been achieved in order that they can also outline future plans, so hopefully this will be sooner rather than later

Some good comments on the HY results.

With regard to funding, what they really could do with is an off-take agreement with which to leverage their funding needs.

Like others have said, no mean feat that they are producing and achieving so much more than many other small cap companies.

The worst of the big expense you would think is now out of the way, so no reason why they should not achieve the required funding at fairly competitive terms.

Not always the case though, so will have to wait and see

gla

Only 2 days to HY results. Let's see how close they are to expected figures and what post-results activities they announce.

The SP has retraced a fair bit since the high following the China ban news, so a catalyst is needed to get the SP moving back in the right direction

gla

A pretty fair summary, HarChris, thanks.

I have always felt that in these tough market conditions, a producer is better than an explorer, so I have been moving my small cap assets into companies that are generating cash.

TGR is my biggest holding and although I am down here this is one share that I am not needing to keep a constant watch over.

Not expecting any surprises in the HY results next week, but am hoping for a solid set of figures at least in line with expectation.

Have a good Christmas all

The value of your shares should have stayed the same, but the quantity held reduced by a multiple of 100 to reflect the adjusted price.

Possibly a glitch with the consolidation being processed correctly with your provider. Mine, HL, is showing the position and price correctly.

Double check the number of shares has changed correctly and the price quoted matches on LSE. Perhaps your provider is not correctly pricing the share as a figure in pounds or pence so is not multiplying the value correctly

Sc,

Not insane at all. I am heavily down too.

The point I was making was that it doesn't matter what happens here, good or bad, some will make EVERYTHING about manager salaries.

I sold a chunk of shares here last week. After trading costs, I received a sum less than £10. But I did this and took the hit to avoid a tax bill of around £1k for Capital Gains.

I am still 95% down on my remaining holding.

I have been posting here for several years now and have been regularly saying that after the disappointment of 2022, when the majority here were expecting delivery on many fronts (after the promises of 2021) that 2023 needed to be about delivery. The last 2 years has been all about getting funding over the line and delivering on those promises and we have been let down in this regard to date.

I have said many times this year that all the UK projects should be written off as there is simply not the will or access to funding to deliver, and that these small projects were the way forward in Italy, France, Croatia, Greece but with North Fork being big to open doors in the U.S.

I can see that management appear to have recognised the changes needed, there has been a definite shift in strategy and this should be seen as a positive step.

But, some will never be happy.

My remaining holding is worth under £150. I see North Fork as the most likely catalyst for change and news is due on that. There is news expected before the end of Q1 next year, and this is my new timeline for a decision on whether to stick, or fold (I was previously going to wait until year end).

Good luck to investors. Small caps have suffered massively in the since the start of 2020, but not all factors are in the control of the company themselves and access to funding is destroying a lot of companies at present. EQT has been in that boat for a while.

I do feel that we should not lay the blame for every issue at the door of management salaries though.

gla

Not sure about steadily climb upwards, but the Italian update was promised before end of year and they have delivered on this news and the improvements, albeit with a typical delay in actually receiving the funding.

A positive bit of news, although it will of course not be good enough for the usual few who will bleat on about salaries.

On the other news, is it a first to achieve share dilution even before an announced consolidation has taken place?

I'm sure someone will post some figures. I'm sure from previous posts that there is also an incredible cost to set up storage too and is something ANGS would be unlikely to manage without massive investment from elsewhere

HY results due on 29/12

I would expect that the sweep repayments knock any thoughts of a dividend on the head for the foreseeable future.

Better to get the debt down though until such time as there is another source of income, or gas prices rise by a sizeable amount to make a material difference to income

Tks. Can't see L2.

I will be more interested in seeing it hold onto gains over the remainder of the year.

Still more news to come. My post from 2 weeks ago detailed the following taken from RNS and IQ's all expected before the end of Jan:

Refinancing ('confident' by year end, but no later than late Jan when 6m bridging facility matures)

Update on storage at SFB (talks with 3x interested parties)

Balcombe appeal result

They are also reviewing strategy for 2024 to include items such as:

Comms and media

Brockham

Balcombe

Guidance for 2024

General asset evaluation, future strategy and company reorganisation (staff)

News today is a good start

JC,

Not sure on II's.

While the refinancing may have them looking at the figures, there may not be enough detail for larger investors to look too invest at present.

If they were not buying at 1.5p and above when they had the chance, not sure they would be doing so when sub-1p.

The MCAP is presently still too small for many to be able to invest due to guideline restrictions.

Good volumes today and holding these gains will be a good start, it's just a shame that the news did not drop when the SP was around the 0.60 level rather than the 52 week low. The recovery has to start somewhere though

gla

Not sure it really matters. Shares are suspended so nothing anyone can do anyway.

Whether we are told something now or all news is released on the day the shares relist makes no difference.

If you really want news then follow news for Redwood themselves

Saw this after a reboot and before logging back in, so had to comment.

"There is no share that i am aware of that has extreme daily trolling like Qbt and there is a reason for that. It is a great sign that trolls are willing to sacrifice everyday to this share."

I have been on these boards for close to 6 years and I have seen some very toxic boards in this time. And every single one, without exception has failed to deliver on the excitement that was seen by many at the outset, so 'trolls' posting here is not even remotely a good sign.

What is an extremely bad sign is the emotionally invested dismissing out of hand any alternative view, and the so-called trolls playing on it to get a response. That is what we have here

QBT may prove to be a rare exception, but to think the toxicity on this board to be a good thing is really pushing the realms of reality.

Filters back on, so back to a sea of mostly green

gla

Or, some people will look for the tiniest thing and make it out to be much worse than it is, especially if it reinforces their particular viewpoint.

It was clearly a simple mis-type that was not picked up before release. These things happen and it is not a sign of anything being untoward.

Well, someone posted a very similar tweet from 'our Lady' last week, I think and it was followed by nothing

We are due some news though just from looking back at the more recent IQ's and what the company has outlined

gla