Member Info for E_AL

Northman1, to answer your questions :

Just to check I'm not being thick here, is this RNS of a placing basically saying the placing is to repay the loan from YA that we only took out last month?

Yes : The Placing monies will be used by the Company to pay down £1,500,000 of the YA II PN Ltd and Riverfort Global Opportunities PCC Limited loan facility.

I'm assuming we're no longer going to draw the other 1.5 million they offered us either in that case?

I really don't think they will, BOD seems to be against borrowing from YA : "We recognise that the placing price is significantly below historic share price levels and, whilst we did consider forms of pre-emptive issues to Shareholders which unfortunately haven't been possible within the timeframe, believe, having considered all factors, that this best positions the Company to exploit the value of our asset base as we proceed with our well-defined strategy. "

Am I right in think Brockham ending early has freed up some money that can now be diverted to Balcombe so don't need the other 1.5 million?

I believe Angus has enough cash in the bank to fund Brockham & Balcombe:

*RNS 10th of Jan :

-Details of Facility Agreement

The Company, on 9 January 2019, entered into an agreement with YA II PN Ltd and Riverfort Global Opportunities PCC Limited (the "Noteholders") for a 2-year £3 million loan facility.

The Facility may be drawn down in tranches ("Advances") over a 24-month commitment period at the sole discretion of the Company and carry 0% interest

Intended Use of Funding:

· Fund capital expenditures for the future development of the Balcombe Field Discovery

· Provide further working capital for the group.

*RNS 5th of November - Placing to raise £2million :

- 22,222,222 new Ordinary Shares placed at 9 pence per share with institutional and other investors

- Production at Brockham from the Kimmeridge layers planned to commence before end of this year

- Net placing proceeds of approximately £1.85 million for general working capital purposes and business development opportunities

Not at all Pboo, but will you be deramping Angus again straight after you sell your position or can we have a fresh start between Angus and UKOG shareholders for the sake of the Weald ?

I guess we got the approval !

https://twitter.com/tobybowler/status/1096350141408264192

Baits, if you are on those two trades then they are buys from earlier but reported minutes ago which is why they appeared in red.

08:27:15 4.30 2,000,000 86.00k
08:31:31 4.35 1,875,000 81.56k

I dont think YA will exercise their 2,469,914 warrants anytime soon because from my understanding they will have to pay either 7.725p or 11.865p to exercise their 2,469,914 warrants so it doesnt make sense to forward sell the warrants under 5p.

Big buys just got reported :

08:27:15 4.30 2,000,000 86.00k
08:31:31 4.35 1,875,000 81.56k

Ironically almost all the trolls been deramping Angus/Brockham/Balcombe on daily bases since December (here and on Twitter) bought some cheap shares today and now they are optimistic about Angus,/Brockham & Balcombe's potential and the sp recovery !

Well, let's hope this will put an end to the 'crazy war' between the Weald Basin shareholders on social media........

Sorry, missed to quote the following in my last post, my upper conversion rate of 11.865p came from :

"(c) the Fixed Conversion Price, calculated as being a price of 150% of the 5 day VWAP of the Shares on the date preceding the Advance and intended as a lower limit if the share price were to outperform, shall have its base for calculation reset to the 11 February 2019 rather than the 9 January 2019, being 7.41p per Ordinary Share"

>> 150% of 7.41p is 11.865p <<

Pboo, thanks for correcting me. OK, taking into account your correction:

The following applies for the INITIAL advance :

- Initial agreement was : 12.15 pence each for the 1,234,567 Warrants in respect of the Initial Advance

-Yesterday's update :

* "all the Warrants issued and to be issued to Riverfort amounting to 2,469,914 warrants"

** "to acquire shares shall be priced at a 25% premium to the closing price on 11 February 2019, being 6.18p per >>>25% premium to 6.18p is 7.725p>> price announced on 9 January 2019 was 12.15p > So 150% of 7.41p is 11.865p <<

*****************So YA would pay either 7.725p or 11.865p to exercise their 2,469,914 warrants ?

According to the agreement and yesterday's RNS, for the initial advance YA wont get any shares unless they want to convert 2,469,914 warrants at 12.15p :

If greater than 50% of the Initial Advance is prepaid during the first 30 days then the Company shall issue to the Noteholders 2,469,914 warrants ("Warrants") to subscribe for Angus Energy ordinary shares ("Shares"), exercisable at 12.15p per Share.

Then Angus confirms that again here :

The Noteholders will be granted 3-year Warrants representing 10% of the value of each Advance with the following exercise prices (i) 12.15 pence each for the 1,234,567 Warrants in respect of the Initial Advance; and (ii) the closing price of the Shares on the trading day prior to any further Advance.

IMO but happy to be corrected if I am wrong?

"@DavidLenigas

Angus Energy due back at Balcombe – DRILL OR DROP? This is very important. The initial flows at Balcombe were excellent. Pumping the well to remove the old water and brine kill fluids will tell a great deal. ?@angusenergyplc? $ANGS

This was the first Kimmeridge hit. Nice to see if this cleans up like I suspect it might. @angusenergyplc $ANGS"

nhawan, I absolutely agree !

I absolutely agree with you neon

"Again I hope Lord Lucan will do everything to restore the BoD's credibility which should be the top priority atm along with establishing a clear path to get the asset(s) producing ASAP which will encourage investors to get back in."

Day traders and short term holders probably done with selling, sp back to yesterday's closing so many reentering again after they bagged some trading profit.....

Market manipulators dragged the sp all the way down to yesterday's closing price to get the cheapest possible entry !

These massive buys from an hour ago just been reported :

10:11:53 10.85 500,000 54.25k
10:11:42 10.90 500,000 54.50k

13-Feb-1910:11:4210.90500,000Buy* 10.3010.5054.50kO

I didn't say it will happen what I said its an interesting opportunity to explore by the new MD who "As an Arabic speaker and accredited Islamic finance specialist with extensive knowledge of the Middle East, George brings other contacts and opportunities to the Company in the energy sphere"

Financial Times :

"Khalid al Falih, Saudi Arabia’s energy minister and chairman of state oil company Saudi Aramco, told the Financial Times that overseas expansion would be a critical part of the company’s future. 

“We are no longer going to be inward-looking and focused only on monetising the kingdom’s resources,” Mr Falih said. “Going forward the world is going to be Saudi Aramco’s playground.”

Mr Falih said it was “correct” to say the company now has ambitions to become an international energy player like Royal Dutch Shell or ExxonMobil, pumping oil as well as gas overseas.

While the kingdom has invested abroad in refineries and petrochemicals, Mr Falih’s remarks are the clearest sign yet of its intention to develop oil and gas extraction projects overseas. "

Big support on the L2 for the current bid and few to sell under 11p on the ask .. sp will move up soon !

honador, currently YA can only convert up to £1.5mil worth of shares. If Angus asked for the rest of the loan to be paid (not anytime soon) and didn't pay it back in cash then and only then YA can ask Angus to convert the rest of the loan into shares.

The government is currently keen on attracting global key investors and pumping more investments into the UK economy & infrastructure especially Brexit is knocking on the door.. Lucan speaks their language, have the right connections in the Middle East and our current share price is extremely attractive for new key investors.

Lucan could ask for the government support via the British embassy in Riyadh to demonstrates to Aramco the short & middle terms plans of Angus, the potential of the Weald and share with them Angus's vision for 2019 .. He is well connected in The City so I would like to think that he is aware of such a golden opportunity... or maybe he was brought to the board for this !

Anyway, Aramco got an outstanding experience in the O&G industry, its the world’s largest exporter of crude oil, not only owns both the world’s largest onshore and offshore oil fields, but is also the world's most valuable company. Aramco is said to be worth between $1.25 trillion to $7 trillion, dwarfing the value of Apple !

Great RNS !

I believe the sp will climb up steadily from here,

"The board is focused on building shareholder value and bringing TLP-103C into production is the next step in what has been a very successful programme so far.""