Member Info for HeadInTheSand

Actually it's 17% per annum on PF's debt... but he's still winning.

Well, as of the start of this month, due to ANGS's not having enough cash to pay any of its major creditors Paul Forrest now stands at the top of the interest rate hit parade, beating even Trafigura (at least for the moment).

Yes, the interest rate now being contractually applied to PF's remaining £1.89m debt is a jaw-dropping 23% per year. That's near on double what ANGS is paying (currently) on Trafigura's (currently) £20m loan.

But it's of course Hobson's choice. ANGS remains so ludicrously over-borrowed that it remains at the complete mercy of its creditors, to do with whatever they like.

Someone else is on shift at the Ocebot keyboard, clearly.

Either that, or sheer desperation has set in. That's the most deranged I've ever seem him/her being.

First, they'll need to dramatically increase debt and change terms in order to be able to start to afford any workover and M&A activities. Then IMV, the RTO becomes essential to give the new entity a chance to pay back increased debt.

And to back up Mirasol's point:-

Onetomany 3 Jul 2025

"Watch production this week... steady increases coming."

Onetomany 4 Jul 2025

"Production... As we expected, post hedge that it will start increasing. Another up day today and expect to see this continuing."

Cold hard reality 7 Jul 2025

Audited NSTA production figures for July so far

01-Jul-25 0.1163

02-Jul-25 0.1254

03-Jul-25 0.1206

04-Jul-25 0.1180

05-Jul-25 0.1111

Total Jan 25 production = 4.2722 mcm

Total Feb 25 production = 3.7257 mcm

Total Mar 25 production = 3.6317 mcm

Total Apr 25 production = 3.2098 mcm

Total May 25 production = 3.3655 mcm

Total Jun 25 production = 3.3848 mcm

Total Q1 production = 11.6296 mcm

Total Q2 production = 9.9601 mcm

The compressor was installed and functioning from 11th April.

The above figures are cold, hard facts, rather than wishful thinking. As forewarned by those basing their opinions on reality rather than hope, even after compressor installation, ANGS produced 14.3% less gas in Q2 2025 than Q1 2025.

This is indisputable.

Your problem isn't with me Onetomany. It's with facts that run counter to the narrative you're trying to cobble together.

Post as much as you like - and of course there's no issue with posting hoped-for outcomes. However, stop presenting these as facts.

Oh that's priceless.

Onetomany, why don't YOU wait for audited facts, instead of posting your agenda-led misinformation about production increases that in reality simply aren't happening?

Onetomany 3 Jul 2025

"Watch production this week... steady increases coming."

Onetomany 4 Jul 2025

"Production... As we expected, post hedge that it will start increasing. Another up day today and expect to see this continuing."

Cold hard reality 7 Jul 2025

Audited NSTA production figures for July so far

01-Jul-25 0.1163

02-Jul-25 0.1254

03-Jul-25 0.1206

04-Jul-25 0.1180

05-Jul-25 0.1111

Total Jan 25 production = 4.2722 mcm

Total Feb 25 production = 3.7257 mcm

Total Mar 25 production = 3.6317 mcm

Total Apr 25 production = 3.2098 mcm

Total May 25 production = 3.3655 mcm

Total Jun 25 production = 3.3848 mcm

Total Q1 production = 11.6296 mcm

Total Q2 production = 9.9601 mcm

The compressor was installed and functioning from 11th April.

The above figures are cold, hard facts, rather than wishful thinking. As forewarned by those basing their opinions on reality rather than hope, even after compressor installation, ANGS produced 14.3% less gas in Q2 2025 than Q1 2025.

This is indisputable. Try sticking to the facts, Onetomany - though if you do so, you'll find it even more impossible to polish the unpolishable.

OTM seems to be a fan of Tango coloured fake tan and the most elaborate combovers?

According to Onetomany, those who have continually and consistently called ANGS completely correctly by relying on clear and obvious facts "have an agenda".

On the other hand, according to Onetomany, those such as himself who have continually and consistently called ANGS utterly wrong by relying on nothing more than wishful thinking are in some way gifted.

Well... I suppose I can agree that this bulletin board's very worst Mystic Meg is in one way "special"...

Nobody can trade on your advice (undoubtedly a good thing, given that the share is suspended).

How do you KNOW, pray tell? What's going to make your KNOWLEDGE accurate this time, since all the previous KNWLEDGE you've shared has turned out to be the exact opposite of forthcoming reality?

Seriously, you must think everyone reading this BB is a howlingly gullible idiot, if you think anyone's going to swallow more of your endlessly reprised "jam tomorrow - honest!" nonsense.

Onetomany, you say "You’ll be surprised at the new terms, with and without asset purchase. #transformational"...

After your 2+ years of blinkered cheerleading, when literally every single prediction, assurance and promise you have ever made re ANGS has been invariably and cataclysmically 100% wrong, you honestly expect people to believe that you have inside knowledge???

There are soon to be several things that are forced by the lenders. It's not like ANGS is going to get a single say in anything that transpires.

Ocelot is possibly right for the first time ever.

I don't think anyone foresaw quite how drastically and quickly the wheels would start falling off the ANGS wagon. To me at least, the CEO running for the exit door was a surprise, as was the suspension of the shares. Mind you, the latter only occurred because the company's financial situation was even more dire than it had let on. This whole RTO thing is a last act of desperation.

PS for what it's worth, I do expect the "debt resculpting" to go ahead (because it has to, or ANGS promptly goes pop - after all, the only reason it reported a small profit in the HY figures is because it didn't/couldn't pay Trafigura the first of sixteen quarterly £1.25m payments... and the second of those is also now due.

I also think there's some chance that the RTO may go through (because something seriously dramatic has to change in order for ANGS or whatever it becomes to be able to pay down the soon to be significantly increased debt burden - and only being able to produce enough gas to generate £1.1 or £1.2m per month of gross revenue just ain't going to cut it. However, if this does go through, the resulting dilution for existing holders is going to be eye-watering).

My! Simon, you are getting feisty!

Perhaps next time you look to offer "principle facts for balance", you should make sure that they are indeed facts, instead of just your "could/would/should" hopes? ANGS has also used plenty of those over the years, but unfortunately to date, not a single one has actually come to pass.

Well, the Ocebot's other much-promoted "huge riches just around the next corner - honest!" favourite, UKOG (that strangely has also never delivered on any of its or his promises), has today announced that it has flogged its interests in all onshore O&G production for the princely sum of...

...£400k.

This now leaves it as a company with zero revenue generation. (TBF it never generated anywhere near enough but still... at least this finally puts a stake through the heart of the Gatwick Gusher myth).

However, it's much too early call in the undertakers on the plc, which persists (at least for the moment) on the latest Sando perpetrated fairytale of hydrogen storage in Dorset. As his annual salary is around £350k, today's sale ensures that his gravytrain is kept running for another year.

...and the other sort of CPR is precisely what ANGS desperately seems to be needing.

Simon, I'll grant that D or D does tend to have a slant, but given that the more rabid of pompom wavers here quote Malcy's blog like it's the literal word of God, I see no harm in drawing attention to the former.

I'm not going to argue whether the compressor has been a success or not. Yes, production volumes are about 16% down since it was installed (that's a very easily verifiable fact) - but maybe they'd have been a good deal worse without the compressor.

You then fall under your own accusation of confirmation bias when you say "...this COULD see up to a 100% + increase in the production figures currently, perhaps even more." and then go on to say that you're "just stating a few principle facts for balance!" As I'm sure you realise, any sentence that contains the word "could", is categorically not an expression of fact, but instead merely one of hope. Nothing wrong with that, but hope's not bankable.

To put it another way and this time with reference to verifiable facts, wasn't the compressor also meant to deliver a major boost in gas production? Well, even if it COULD have done, it very definitely HASN'T.

Couple of things.

Firstly , the chart that the Ocebot refers to gives an unmistakably clear pictorial representation showing gas production from Saltfleetby declining by 35% since December last year. (Dec 24 = 5,256 ksm3, Apr 25 = 3.427 ksm3). This should come as no surprise to those who hold opinions on ANGS based on facts, rather than wishful thinking.

Secondly, the article in the same publication that the Ocebot for some unfathomable reason chose not to refer to is linked to below:-

https://drillordrop.com/2025/06/30/doubts-over-angus-energy-future-cashflows/

(Slightly more credibility than "love for hire" Malcy's blog, I'd say)