Member Info for E_AL

@DavidLenigas

"Angus is in strong shape and I would rather have this type of exposure in Angus’s Brockham and Balcombe assets than a small part of Lidsey.
Angus Rocks! @angusenergyplc @DoriemusOil #ANGS. Great Angus update yesterday IMHO."

Nice buys just gone through !

12:22:39 3.90 750,000 29.25k
12:14:23 3.80 250,000 9,500
12:13:52 3.80 394,554 14.99k

@angusenergyplc

#ICYMI We are pleased to announce an operations update at Balcombe, Brockham and Lidsey, as well as announcing the agreement to purchase an additional interest in the Lidsey Field.

Read the full announcement here: #ANGS https://bit.ly/2U92GMI

Sp just recovered the sudden drop !

Lucky you , it’s 3.7 to buy on the L2 atm .. much more buys than sells so far

Here you go :

David Lenigas, Doriemus Executive Chairman, commented on selling Doriemus Interest in Lidsey Oil Field :

"The completion of this transaction will further strengthen Doriemus’ balance sheet, especially when combined with the recent sale of a portion of the Company’s Horse Hill interest in the UK, as announced on the 19 February 2019. The sale of this asset to Angus Energy, the Lidsey Oil Field’s major shareholder, will allow Doriemus to fund its new potential oil and gas interests in Western Australia with the aim of seeking operatorship of assets as opposed to being a minority passive shareholder of assets. Further rationalisation of the Company’s existing portfolio may be considered in future to shift the focus towards this objective.”

“Angus Energy is pleased to announce that the long lead equipment to isolate the water zones at Brockham has been sourced and is ready for shipping from the USA .

The primary item, which would have taken over three months to be manufactured, has now been sourced more efficiently and cost effectively from another supplier.

Options for logging the well to identify the water zone are being considered to give the best results.

The Company shall immediately start rig selection and submit a detailed engineering program for approval by our partners and all relevant regulators.

The Company welcomes this news as it will greatly speed up the process of re-starting production at Brockham.”

**If the supplier send the water isolation equipment via air freight before the weekend then we should expect to see the equipment in Brockham next week !

I think the RNS was positive !

Now we know what to expect and almost all the unknown issues been addressed. The ambiguity been cleared up and Angus "set out our road map for 2019 including a potential long-term production test at Balcombe, immediate remedial works at Brockham, and consolidating and improving our interests at Lidsey."

"Now" and "immediately" were thrown in the RNS to confirm what Tidswell tweet : "Team 100% up to speed on what needs to be done now."

The only bit which I didn't like about the RNS was "we are also actively looking at new opportunities in the Weald and beyond." ...I prefer to focus on our current assets rather than "actively looking at new opportunities".

Its simple, if you are an investor then you'll see this RNS as positive, if you are a day/value trader then your bet on doubling your investment in a week or two aint happening !

Here is why Doriemus sold its stake in Lidsey (Second paragraph)

Doriemus signs binding heads of terms to sell 60% of its 10% stake in horse hill developments to UK Oil and Gas for 129.6 million new shares in UKOG post completion, co to retain 4% interest in HHDL, UKOG to hold a 77.9% interest in HHDL and majority interest in Horse Hill Oil Field.

This transaction will assist the Company as it looks to shift a lot of its focus towards finalising the recently announced deals in Western Australia, where if completed, Doriemus will not only have a significant stake (50%) but it will also be acting as operator of the assets (as opposed to being a minority passive shareholder of assets).
If required, further rationalisation of the Company’s existing portfolio may be considered to assist with the Company’s focus shifting towards this objective.

https://www.doriemus.co.uk/wp-content/uploads/2019/02/DOR-ASX_NR_-Sale-of-HH-interest-Final-1.pdf

I think its a decent press release, positive, simple to understand and straight to the point :

Brockham Update
Tue, 26th Feb 2019 16:45
RNS Number : 1922R
Alba Mineral Resources PLC
26 February 2019
Alba Mineral Resources plc

("Alba" or "the Company")

Brockham Update

Alba Mineral Resources plc (AIM: Alba), the diversified mineral exploration and development company, announces that Angus Energy Plc, the operator of the Brockham Oil Field under Production Licence ("PL") 235 ("Angus" or the "Operator"), has provided the following update regarding Brockham:

· The long lead equipment to isolate the water zones at Brockham has been sourced and is ready for shipping from the USA.

· The primary item of equipment, which would have taken over three months to be manufactured, has now been sourced more efficiently and cost effectively from another supplier.

· Angus is currently considering the options for logging the well in order to identify the water zones.

· Angus shall immediately start rig selection and submit a detailed engineering programme for approval by Angus's fellow licensees on PL 235 and by all relevant regulators.

· If so approved, the operation will be conducted in two stages: firstly, identification and isolation of the water zones, followed by the commencement of production testing.

Alba owns a direct 5 per cent interest in PL 235.

George Frangeskides, Alba's Executive Chairman, commented: "It is good to hear that Angus Energy is advancing plans at pace to tackle the water influx at Brockham. We look forward to reporting on further details in due course."

Lets see if they will comply with the 3 working days rule and release RNS tomorrow confirming YA loan repayment.

As I mentioned yesterday, according to AIM regulations Angus must disclose any price sensitive information within 3 working days (Paying back YA loan in this case) .

So I believe we should expect RNS confirming repaying the loan in full by no later than tomorrow (3 working days from Saturday 23 of Feb which was YA loan repayment deadline).

*hopefully we'll receive positive update(s) about the sites as well.

- Three working days rule :

*24-hour production at Lidsey : An application to vary the production hours was granted on 15 February 2019

**RNS released : Variation to Planning Consent at Lidsey - 19th Feb 2019 10:27

15 Feb > 19 Feb : 3 working days.

Bid 4x the Ask atm (same all day last Friday) which means value traders and/or investors are picking any shares available between above 4.15 which support what you have just said.

Lidsey's 24/7 production has been confirmed by Angus (last week) and we already know from 29th of January RNS that Angus is "investigating feasible ways to improve well performance on this field."

imo the price sensitive info which we should receive by no later than Wednesday is YA loan repayment confirmation (3 working days from Saturday which was YA loan repayment deadline)

Hmmm I think they have 3 working days then they must disclose any price sensitive information they have according to AIM regulations (paying back YA loan in this case) ?

Recent example :
*24-hour production at Lidsey : An application to vary the production hours was granted on 15 February 2019
**RNS released : Variation to Planning Consent at Lidsey - 19th Feb 2019 10:27

15 Feb > 19 Feb : 3 working days.

scallywag3, as we've been told by Angus, YA £1.5M loan will be for "the work programmes at Balcombe and Brockham as detailed in recent announcements and for general working capital purposes."

Brockham is on standby at the moment and as we already know from FOTH photos on Twitter, Angus just started to prepare Balcombe for pumping. This means the company didn't spend much (or any) of the YA money. They already got cash in the bank from the previous placing so I think they have enough money to pay back YA.

Angus is obliged to comply with AIM regulations and release an RNS on Monday to confirm repaying the loan, hopefully we'll get positive update(s) about the sites too. Once the sp shows some recovery Angus will then start to sell the placing shares at higher price and generate more cash to the company (If they have not already sold the new shares to mates in The City) ....

A smart move from Lucan I must say !

Scallywag3,

The RNS says nothing about “new shares with >>an institution >plus an incentive payment>now<<.”

The new shares will be available to anyone trades/invests in the stock market ( existing, new and institutional shareholders ) whenever Angus decided to sell ( if they haven’t already forward sold them) , no “now” and no “incentive payment” :

“pleased to announce that the Company has placed, subject to admission to trading on AIM, 55,000,000 new Ordinary Shares in the Company with existing, new and institutional shareholders (the "Placing Shares") at a price of 4 pence per share to raise gross proceeds of £2,200,000 (the "Placing").”

I agree, the company already issued the placing shares and LSE just confirmed it earlier today 'Shares in Issue: 458.94M'. If Angus won't offload whatever left (not been forward sold) of the placing shares to the market by end of today which is the last working day before YA loan repayment deadline (tomorrow) then imo the market confirmed the sp rock bottom and if we receive an RNS on Monday about repaying of YA loan (and hopefully some positive updates) then the sp will only go up from here.

I don't think its a good idea to be out of Angus over the weekend when we are expecting a positive RNS on Monday morning !

Oh really? Did we hurt his feeling ?! If I am not mistaken, he was the one who put us in this mess in the first place .......

"The board said they are reviewing outside counsel’s advice re Tidswell’s shares. How long does that take to review and provide an explanation to shareholders."

Oh please don't remind them about this, its the only miserable rabbit left in their hat to pull the share price to a new all times low if the market didn't like the explanation ..... Let's start with some positive news first then comment on Tidswell's shares