Member Info for HeadInTheSand

Onetomany, I am not wrong, solely on the basis that I can understand English.

A "non-binding" agreement that is further subject to as yet unspecified and unagreed "covenants" is simply no agreement at all.

I'll make a non-binding agreement with you. I'll agree to give you twenty grand at some undefined point in the future, if I ever feel like doing so.

The only thing that *can* be taken from this RNS is that Trafigura is prepared to continue with discussions about refinancing (which should come as a relief, given how badly ANGS needs it's debts restructuring).

ANGS seriously needs to get a move on. From memory, it's only got 18 months left to get gas out of Saltfleetby under the terms of the current licence in place. Sure, this might get extended... but if Ed Milliband has any say in onshore gas licence extensions at that point, I certainly wouldn't be holding my breath.

That is indeed an utterly pointless RNS.

Literally all it says is this:-

"We're still talking with Trafigura, trying to find out what terms it will impose under a new financing arrangement that would hopefully allow us to have a chance of affording our already incurred huge obligations to both it, Mercuria/Aleph and Paul Forrest."

(There's no detail at all given as to what such imposed terms would consist of and in turn, how they might be affordable for the company. Instead there's a meaningless reference to some unspecified and "non-binding" terms having been "agreed" that are further subject to some equally unspecified and as yet unagreed "covenants"... so, a pointless and meaningless announcement then).

It then gets no better with regard to the alleged RTO. The ANGS board will apparently meet "in a few weeks' time" (!!!) to decide if it wants to proceed with this (again !!!).

Two things: 1. It's clearly not an open and shut deal of the century then... and 2. the ANGS board are hardly in a hurry, are they?

What a waste of the RNS fee...

That's amusing (to say the least) from the Ocebot, which has for years done its level best to persuade anyone to ignore the past (i.e. cold, hard, indisputable facts) - and instead has spent its entire time being a "futurologist", assuring anyone dumb enough to listen that riches are just around the next corner.

Shame it is always the next corner...

(That was of course a "successful" ten billion share placing... so the day traders and barrow boys will have ended this latest fully orchestrated and entirely corrupt fiasco nicely in pocket).

Yep. UKOG up to its usual tricks. Desperately short of cash, so issues a ramptastic (but largely substance-free) RNS yesterday. In come the paid shills and day traders to add their support and up goes the SP...

...and as fully expected by anyone knowing the slightest thing about AIM, this morning, in comes the RNS announcing a 10,000,000,000 billion (yes you read that right, ten billion) share placing to raise £3 million. At a 35% discount to Tuesday's closing severely ramped price. So down plunges the SP, with the naive and easily led left holding the bag,

AIM... regulation? What regulation?

Geez.

As anyone with a primary school grasp of maths should know, extrapolating anything from a single day's production, whether high or low, is completely ludicrous.

"Well he’s in the office trying to dictate things."

Hopefully like his resignation given his track record, rather than another fairytale RNS.

Again, why not also take action against Cairns, the Nomad? At least they still exist as a real UK based company.

Onetomany, you're already the eternally secure holder of this bulletin board's "Worst Mystic Meg Of All Time" title, after your endless promises of jam tomorrow, precisely none of which have come remotely close to being true...

...on that basis, I doubt very much that you're going to hear anyone ask you anything at all.

Shock horror for the Ocebot! The last three day average shows only 0.1066... the trendline is crashing downwards!

(Of course, three days worth of reduced production is almost irrelevant as any non-disingenuous person knows - but I'm using the Ocebot's own stated "logic" here).

It's going to be amusing to see how the Ocebot will manage to include those last three days of production figures into its carefully selected and cherry-picked "recent average" period.

Naturally, it won't bother... because as is most often the case, it only deals with cold, hard reality when it suits its forlornly ramptastic agenda. I imagine it'll revert to making things up and continuing to attempt to polish the unpolishable.

The Ocebot is struggling.

How can Mirasol reporting literally every single day's production, good or bad, high or low, possibly be called "cherry picking"?

It has been clear for literally years now what a deliberately disingenuous poster Ocelot is.

You mean the ones still persisting in believing in the long-promised fairyland of lollipops and rainbows, despite all the reams of evidence to the contrary? The same ones who get all petulant and throw their toys out of the pram, whenever anyone refers to any of the any purely factual inconvenient truths? I'd wholeheartedly agree.

"In terms of asset value Ocelot, I would say your £200m value is very conservative."

Remind me... what was Saltfleetby originally sold for by operators a WHOLE lot smarter and more successful than the three-legged donkey which currently owns the asset?

That £170 million diamond scam Panorama program was worth a watch as it happens. As was The Dropout (a miniseries all about Elizabeth Holmes and the US$700 million Theranos fraud), which seems to be available on iPlayer and/or Netflix.

It's probably best to wait and see what Mr. Cotter has to say, but I am also sadly sceptical about any criminal action being pursued by either the police or the SFO. I am equally cynical about the utterly useless chocolate teapot that is the FCA.

It's possible that the only action to take would be a civil action against Amit, because as has been quite correctly pointed out, there are mountains of available evidence.

And again, don't rule out civil action against Cairns, who in its position as Nomad and "safeguarder of PIs' interests" (here's where we all laugh at once), seems to have been blatantly negligent in blithely signing off on reams of non-fact checked BS, before it pulled the plug. Being a UK company, at least it can be easily located...

I see someone didn't like the FundedByFraud suggestion.

Indeed. Nor does Mullins have any grasp of statistics either.

Amit's clearly run out of ideas re what BS to come out with.

Mind you, from his point of view, probably a blessing, since whenever he posts made-up details, he shoots himself in the foot, because he very quickly gets found out.

Today's update is a masterpiece of irrelevance - all he needs to do now is to make that his standard update and never add a single word to it or change a single word of it, except altering the date. That'll keep him going for ages.

The factually correct version of the Ocebot's last statement should actually be "The only reason we're even talking about an alleged RTO is because the company all of a sudden mentioned it of of the blue."

Nobody can come up with a single valid reason as to why an alleged third party with an alleged "low decline/positively cash generative" asset would be in the least little bit interested in acquiring a massively debt-laden company that:-

1. has defaulted on its first two payments to its primary lender

2. that has a declining asset which hasn't produced enough to allow said company to meet its already incurred obligations

3. and that has never once managed to produce a real-world profit.

One day (that's not too far away now) the Ocebot will be forced by cold hard reality to admit that, no matter how much lipstick you put on a pig, at the end of the day, it's still a pig.

I guess yesterday's news story about basic maths skills being at their worst levels since records began was true.

110% down... so according to Hepran, investors actually found a way to lose more than the total amount they invested. Clever, that...

Leaving primary school maths c*ck-ups to one side, his general point that AIM is the Wild West, with nigh on zero regulation and chock-full of companies whose only actual business is parting PIs from their hard-earned is well-made.

"I am not a corporate historian, what interests me is what happens now and in the future"

Intellectual cowardice and/or blatant disingenuousness at its best from the Ocebot. Given that for years it has been doing everything within its power to talk the company up and has never once expressed a more wary opinion, it's hardly surprising that it wants everyone to entirely ignore ANGS's irredeemably unsuccessful history and utterly undeviating track record of repeatedly promising much but then never once delivering against such promises. Why? Because every single real-world element of ANGS history has run entirely counter to the narrative that the Ocebot eternally tries to spin.

The Ocebot isn't interested in history - hardly a surprise.