Member Info for HeadInTheSand

Another playground insult - there's irony.

BV, I think it's clear to anyone and everyone who's behaving and posting in an infantile fashion.

BV, I don't like to see any genuine PI lose money. Whether that category includes yourself is distinctly dubious.

As to my personal cash position? I'd suggest that you pay far closer attention to the shrinking value of your holdings, rather than make wild guesses about others.

What's the level of the ANGS SP decline now, since the successful and production-doubling sidetrack got announced on Apr 18th? A fall of around 63%, by the looks of things.

Entirely up to you of course, but you might wish to ask yourself why and look at some actual facts underpinning that sharp fall, rather than just insulting those whose opinion doesn't match with your fanatically cheerleading own.

Surprised you've got time to post, BV? Shouldn't you be averaging down again?

SB, easy.

BV has no counter arguments, nor can he have, because of clear and easily verifiable facts (things which as has been apparent for months and months he is virulently allergic to). But he feels he needs to respond in an effort to keep the cheerleading going, so since he cannot come up with any fact-based counter-argument, he resorts to yawn-inspiring playground ad hominem insult.

Very true, but it made for a great light show.

no sign of honesty as usual... but equally as usual, no sign of adrian's latest id any more either.

so that'll be 12 hours of peace before he creates yet another new id, then.

thing with adrian is that he's so depressingly obvious when it comes to his posts. however his predictability has a major upside at least. give him a friday night with a newly created id and he'll invariably hammer the special brew too hard, post ever more increasingly incoherently and co****ly and promptly get himself banned.

he's every bit as predictable as the ukog sp trend.

BV the hedge still persists until 2025. It also didn't get renegotiated back in Q3 last year (despite the company saying it would be), hence the painful £3.3m shortfall payment that had to be made in July this year (which was the reason for the second £6m junior loan).

As for anything GL ever said, no matter how confidently? Very little of that ever turned out to be even faintly true, once cols, hard reality became visible.

However, I hope for its own sake that ANGS gets replacement financing from one party or another, to give it more time to generate revenues to pay off debt and other liabilities.

BV, neither the global replacement finance nor the second finance negotiations are truths of any sort or to any degree at the moment, simply because neither currently exist.

They're merely alleged possibles (much like the "formal sales process" of early 2022) that may come to pass... or may come to nothing (like the FSP).

Singhie's ever-changing future SP predictor (seemingly spat out a spreadsheet that's been created by Hans Christian Andersen, if its wildly over-optimistic past predictions of SP levels are anything to go by) is currently showing that ANGS will deliver a bag by Feb 24...

Sadly, I think Singhie is yet again going to be disappointed, unless that replacement global financing is secured,

Holy heck! That's almost veiled criticism from Ocebot!

You know that UKOG must be at death's door when even Sando's longest-standing and most blinkeredly faithful promoting disciple posts something almost negative...

Something certainly smells, that's for sure.

There's no point asking. It's logically impossible to prove a negative.

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%...