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Singhie, of course it'd be beneficial to pay off high interest-bearing debt as soon as humanely possible. That goes without saying. However, that's not the point.
What is used to pay off debt? Well, generated revenues of course, nett of hedge derivatives settlement and capex/opex costs. So, what needs looking at very carefully is the repayment schedules for ANGS's various already incurred debts and liabilities.
As has been commented upon many times, in the short term (i.e. the next few months), these include:-
Next payments (capital plus interest) on the original £12m senior loan by end Sep, according to the HY accounts. That's somewhere around the £3m mark as a minimum.
Fully repaying (capital plus interest) the two £3m and £6m junior loans, also by end Sep, according to the terms of each junior loan. That's £9.6m then, (though the £6m one could be extended by another 3 months at a further cost of £300k)
Paying PF his next tranche of the remaining £5.25m or so for the 49% acquisition. That's probably at least another £1m due in Jan, though PF could accept another shedload of shares in lieu, if he were so minded.
All of that has to be done out of (currently) c. £1.65m of post-derivative monthly revenue... but that figure is pre-capex and significantly, pre-opex.
So yes, ANGS does need extra time to generate sufficient debt-repaying revenues, hence the need for the replacement global refinancing.
What's to compare? Singhie has knocked up a spreadsheet that amongst other things calculates generated revenues post-hedge settlement perfectly adequately. With current production levels, current gas pricing and current hedge commitments, it's showing monthly gross revenues (post hedge) of around £1.6 million so there's nothing to disagree with there. Those are matters of fact.
As to his inclusion of guessed levels of debt, guessed interest rates, guessed repayment schedules of such and projected future share prices, that's a much more speculative matter.
Sure, there's no doubt that the alleged replacement global financing would change Singhie's predictions radically - just as much as there's no doubt that ANGS desperately needs the greater debt repayment timescales that would be provided by replacement financing.
So, what's going to happen first? The arrival of the 7" guns in Turkey, or UKOG's SP entering the 0.02s?
A supplementary question... what's going to happen first? The arrival of the 7" guns in Turkey or the eventual heat death of the universe?
As before and as everyone is well aware, Amit's latest in a series of many deadlines states "before the week ending 6th October"...
...so sure, it would indeed seem pretty pointless doing anything other than waiting (again) for up to the next 23 days.
As nigh on everybody knows, they breed them dense, deluded and deceptive in Salfords...
You're unlikely to get an answer, Barney. BV is by now (quite sensibly) justifiably wary of stating any predictions, since all of his months and months of previous assurances turned out to be the exact reverse of what has actually happened with the ANGS SP.
ManFromDelMonti... a teensy word of advice.
If you're really going to assume the role of grammar and punctuation police (ignoring the begged question "Why bother?"), it'd probably be best to show a reasonably competent grasp of the subject which you've chosen to police.
To wit, you stated yesterday:-
*you're
it's a contraction of you are, hence the apostrophe, not a possessive noun.
your hat
you're stupid
Sadly, your claim that the word "your" is a possessive noun is just plain wrong. It is in fact a possessive adjective.
BV, all investments are of course brilliant, if one buys at the correct price. Yours is 0.8p, I believe? Well, so you keep alleging.
Sadly, you've been assuring anyone who'd listen that ANGS has been a steal for at least the last year, during which period, the SP has declined by 75%...
It's because this is AIM, so there's effectively zero regulation.
Of course, any company's NOMAD is meant to act as an arbiter of legit behaviour and truthfulness, when it comes to said company's actions and communications (I know, I know, don't all laugh at once. Most AIM NOMADs will sign off on any load of old rubbish without even reading it, after having been treated to a liquid lunch at The Ivy).
Making matters worse is the fact that WH Ireland is UKOG's broker as well as NOMAD, so that's like asking a fox to take really good care of a henhouse. Conflict of interest, just perhaps?
Sadly I think Jaffy's quite correct. A "next instalment" is more than very likely.
Adrian still talking utter rampy nonsense from his alleged millionaire's pad in somewhere like Park Lane, I see...
Sheesh... next I suppose someone's going to mention long-term Milankovitch solar cycles and the effect of orbital obliquity?
Apparently the earth is currently in a temperate period between inevitably recurring ice ages... but since such temperate periods tend to last between 40,000 and 100,000 years, the next seriously big chill won't take place exactly soon.
(Mind you, when snowball earth does happen again, such is his obsessive zealot's commitment that BV will probably have found a way to still be posting from beyond the grave on how utterly fabulous an investment opportunity ANGS is. Not that anyone will be around to take any notice, but hey, when has that ever stopped him?)
BV, utterly unlike yourself, I have put forward opinions as to why the ANGS SP is nowhere near the levels you've been constantly assuring it would be for years. Simply put, IMO it's all about the disparity between repaying incurred debt within the proscribed time frames of said debt versus generatable revenue within said time frames.
Do you have anything approaching a view to explain the reality of things re ANGS? Or would you prefer (as usual) to pretend that reality doesn't exist?
Do feel free to duck this awkward though obvious question for the umpteenth time...
Why not mention SOU's decline? Because I've not researched SOU to any extent, so have nothing valid to post on that subject (leaving aside the fact that it'd be inappropriate to post on SOU on this board).
For the record, among many other companies, I've also not commented on or mentioned declines at SPO, BCE, ZAMZ, CNG, LEND, EST, FCAP 0QIG or SCHO.
Needless to say, you run away from the questions, BV. It's hardly a surprise, because facts aren't your friends, but it remains mildly amusing...
Jaffy, barely worth discussing but you asked me:-
"Who's made you change your tune
You were adamant this was all over."
I merely clarified my opinion (namely that I haven't changed my tune in the slightest), since you were clearly labouring under some sort of misapprehension.
Perhaps best then for you not to ask questions of people, if you're liable to get all aerated about an honest answer?
Jaffy, I merely politely answered a question you directly asked me. In other words, I gave you the courtesy of a reply.
"Courtesy"... perhaps a word you need to look up?
Care to advance an opinion as to why ANGS's MCap is nowhere near where you were assuring anyone who'd listen it would be, BV? Or care to explain why the SP has been on a downward slide since the announcement of a production-doubling sidetrack?
...thought not. You were always a fan of pretending that inconvenient facts don't exist.
@Jaffy, my personal opinion hasn't changed one tiny little bit from the DavidGreece-backed "runway in the jungle!" / "We're in Target!" / "We've appointed a major distributor!" (a tinpot company selling novelty golf accessories) / AberdeenMan & Mr Selfridge PR company / BrokerMan aka Gold Bulluin "Amit can't win on a show of hands at the EGM, honest!" days.
(Now there's a salutory history lesson...)
Having said that, I am also a pragmatist and know it is literally impossible to prove a negative. Therefore, although I am personally rock solid certain as to the eventual outcome (if it ever becomes clear), literally the only thing for anyone to do is wait - and praising Amit to the stars and back or slamming him for being a good for nothing shyster won't change the price of cocoa.
Say what you like, Adrian. As has been noted countless times before, they clearly breed 'em both stupid and deceptive in Salfords.
The tweet (and it being seized upon both by paid PR posters and by disingenuous short-term traders) comes as no surprise.
UKOG needs (yet again) to switch horses to another illusory nag. As soon as Weald oil was revealed to be a substance-free fairy tale as far as the company was concerned, it quickly saddled up the Turkey turkey, solely to have something to base its never-ending "jam tomorrow" promises on. Now it's become entirely visible that that particular steed has no legs either and is fit only for the glue factory, another moonshine and fairy dust story is urgently required.
Sando has never changed his deceptive and disingenuous tune. He just merely swaps instruments to play it on when he is forced by cold, hard reality to do so.