Member Info for Fred_Bloggs

Thanks all, perhaps I just expect too much after the recent let downs we have had one after the other. Thoughts are appreciated, but I am nervous that the silence may become defening.

In my mind, ANGS has degenerated from a fairly reasonable small oil co to very close to a laughing stock co. I feel mildly uncomfortable about how George Lucan is bigging up a piddly little gas deal. While totally silent on the main plays, the Weald assets. Why? What is George NOT telling us? I find the complete silence very odd and somewhat concerning. I used to think ANGS looked a reasonable decent small firm. My opinion has been proven very, very wrong. Am I the only one thinking this stuff?

Encouraging, but still a longhaul for me to exit this dog of a company at a half decent price.

Sure, the ADVFN site is a nightmare to use. I gave up trying on a PC. I use the android app and just look at the prices and the chat. The chats are impossible to make sense of on their website. At least they are to me, life's too short for rubbish website desgn like that. I'm amazed it survies frankly. It's like a throw back to about 1998.

Yes, G15, that hasn't gone unnoticed.

https://sparkexploration.com/

Just when you thought it couldn't get much worse............. Is there no bottom to the ANGS share price? It seems not.

If Lidsey is producing at approx 14.4 barrels a day, before costs that's a grand total earnings of about 220 quid a day. Whoopy doo.

Is there any real value still in the company? There seems no bottom to how far the share price can drop. Can the company become so cheap that it's effecively worthless and someone will buy it at a deep discount and just try to split it off, if any of it's assets are even saleable? Could Lucan and chums take ANGS into private ownership? Lots of potential outcomes, but I think what used to look like a small reasonably well run company could shortly be a virtual complete loss for me. Lucky I haven't bet the farm on it.

Perhaps take the guys a box of matches on the next chopper to fly out eh? To re-light the flare if it's gone out. (OK. Maybe not a great idea).

I, (and I guess many others) have a limit sell order at my break even price on this dog of a share.

Delivering the (non-alcoholic) champagne, perhaps?

Just thinking out loud here, I am new to NRR REIT, but it's looking bombed out and the kind of deal I like. But it seems the dividend is not fully covered by income going forward. A REIT has to pay out all its income so will have very little in reserve to support future dividends. A cut is looking likely? I think I'll hold off buying on that basis at the moment. Thoughts please?

It's very, very simple why ANGS has this opportunity. The gas field appears to be owned by Wingas. That's Gazprom and Wintershall. Two very large companies. The remaining gas reserves aren't even crumbs to those companies, but to ANGS, it represents a very simple, low risk, low cost way to bring in twenty million or so clear profit. Contrast that with the market cap of the entire company. It's a gift to be honest. I can fully understand why Lucan is quite excited about it. In terms of hardware, few bits of ten inch pipe and an off the shelf compression skid. You're in business. It really doesn't get much simpler or cheaper than this. I expect the expenditure to be less than the dowry they receive from Wingas. It looks a great low risk opportunity to me.

Not a lomg time ago, I thought UKOG looked like a proxy casino, ANGS looked like a tiny but reasonably well run oil company. I can't help thinking that today, with UKOGs good HH test results and the laughing stock that ANGS now appears to be - The rolesarenow somewhat reveresd? Credit to UKOG, they are making steady progress at HH, yet still the shares drop today. It's beyond my ability to understand.

Lucan does at appear to be sincere and as honest as can be reasonably expected at an AIM company. But I see not much near term upside here until a few promises are kept and we see some hydrocarbon being sold.

I have just bought as much ANGS as I feel I can risk in order to average down. I think it's not enough. I need 8.9 to make a break even exit. Not going to happen, is it?

Thanks. How long has Lincolnshire been in the north of England? Since when did Theddlethorpe have a refinery?

I never suggested CATS was being sold to a Mickey Mouse ouitfit like ANGS, but Petroplus had the only recently decommissioned refinery in the north of England.

Anyway, thanks the heads up, I'll take a further look at Saltfleetbury.

Well, I thought Lucan gave a goosd account of himself actually. I wonder if he can deliver the goods where the previous management delivered a complete crock of you know what. I thought Angus was a fairly well run outfit at 24p. And at 15p and at 6p. Now here we are and I am aberaging down again less than 4p. Throwing good money after bad? Possibly.

He's tight lipped on the gas field in the north of England, near a refinery that closed a couple of years ago. To my mind, that would be the Petroplus refinery up in the north east. The gas field, I'm not sure about but I feel it could well be the operators of the CATS facility up there in the north east? That's operated by Antin, a venture capital outfit, with small stakes owned by Conoco and Eni. Conoco are selling up some of their UK assets. Is there a connection to the new Angus asset there? I don't know.

I have cancelled my acceptance of the open offer and subscription for extra shares. I'm about to place a limit buy order on my account. Instead of the placing, I'll get maybe 15 per cent or so more shares for the same money. Since I am averaging down and looking for an exit that seems a sensible thing to do on this one.

I am subscribed to the offer and also have applied for a wedge of the new shares too. I am averaged at 12p a share presently. I am buying enough to bring that down by maybe half. It's throwing good money after bad, but I think it's the only way I stand a chance of getting out of this dog at anything like a break even price. ANGS used to look a well run company to me when I first bought in around 24p. It's a laughing stock (pun intended) joke of excuse for an enefy company these days.