Member Info for HeadInTheSand

I see it's standard operating procedure for ANGS again...

Can a company reasonably be considered to be this consistently "unlucky" when it comes to never meeting any of its self-issued projections?

How long has SV been back in? About 4 weeks, isn't it, since he/she was sl*gging ANGS off to the high heavens?

You gotta laugh...

Not "only," but very much "mainly", Howey, as I am sure you're aware.

Classic example... take Adrian/Gideons or one of his mumerous incarnations. As you'll remember, you'll get 50 posts a day until he gets himself banned.

PumpedorDumped only goes by the frequency of posting, not the slant of opinion, so it's not accurate (though it's fair to say that people posting most frequently on a share are more likely to be of the ramptastic persuasion).

A more basic but still worthwhile sign is noting whether any poster has bothered changing his/her LSE opinion to "strong buy" on any given stock. Most genuine posters don't bother.

The amount of quite deliberate misinformation spread on this share is eye-watering. Short-term traders (like Roofershound, LadyOfAIM, Adrain/Gideons/DavetheDrill etc, all of whom have plenty of form) will lie their collective butts off in efforts to create a minispike which they can sell into).

And of course, their self-created fake news is seized upon by the heavenly choir here (consisting of other disingenuous short-term traders and genuinely hopful but naive shareholders) and repeated as gospel truth ad infinitum.

Matters really aren't helped by ANGS's own lengthy track record of repeatedly issuing statements and predictions that turn out to have zero relationship with the reality of things (if not downright porkies, eg "It's all fine... we've categorically negotiated a deferment to the hedge!" followed a few months later by "Sorry. You know that hedge deferment we definitely negotiated? It didn't happen, so here's a further diluting raise.")

Anyhow, matters remain simple. If the sidetrack performs according to much trumpeted GL predictions, everything will be peachy. If not, not so much. And no PI yet knows which way that's going to fall.

The matter rem

Looks like Roofershounds has the exact same levels of credibility as the equally much-quoted LadyofAIM. Might even be the same person - certainly has the same MO.

Namely pop up an utterly unsubstantiated positive rumour on Twatter, tip off the heavenly choir that you've done so - and let them do all the publicity legwork.

Given that ANGS is (allegedly) within just a few weeks of proving things one way or the other, one wonders why he/she would even bother?

One has to smile.

"The only people who are vocally WORRIED about Angus are people who actually hold zero stock"... how would you know?

"...the usual immature and amateur posters with highly dubious posting histories." Not really. All you actually mean is "posters you disagree with, because they hold an opinion that differs from yours".

"...and then we will start to see payback for our pains." "Will", eh? Sure, if the sidetrack is successful and has a significant positive impact on production volumes, then yes, absolutely. That particular conditional has never been in doubt - however, it remains a conditional, so that'd be"would", not "will".

"Dubious" posting history here on ANGS is very obviously a two-sided coin.

As has been pointed out by those with some smarts, the initial compressor is coping with existing loading quite happily. The absence of a 2nd compressor is not currently a gating factor to existing production volumes - or to put it more simply, a 2nd compressor needs more gas than is currently being extracted to make any meaningful difference.

Things of course change significantly if the sidetrack delivers a markedly increased flow rate over and above current levels. If it does, then a second compressor will be a more than worthwhile thing - however, if anyone is naive enough to think that a 2nd compressor when switched on is going to double current production volumes without a successful sidetrack, you're living in la la land.

...except 5 mmscf/day doesn't cover the hedged quantities for the next six months.

Gallder, for clarity, I have never once claimed that ANGS "deferred volumes" on the hedge.

The party which stated in black and white that it had deferred hedge liabilities due to missing two months of production in its July 29th RNS was ANGS itself.

This claim came as a surprise, because as you know, that's not something often seen when it comes to derivative contracts. However as we now know, courtesy of Monday's kick in the crotch RNS and perhaps unsurprisingly, ANGS's earlier RNSed claim of having successfully negotiated to "defer" missed hedge volumes turned out to be one of its all too usual bare-faced porky pies.

I still am unsure whether BV is a company shill, doing his best to sucker in the unwary, or an utterly blinkered reality denier, whose investment strategy is to screw his eyes tight, jam his fingers in his ears and shout "la la la" at the top of his voice, rather than face up to the seemingly endless torrent of evidence that ANGS is literally incapable of telling the truth.

It doesn't really matter which he is... either way he's very clearly not worth paying any attention to.

The thing is, those of a more wary opinion don't need to make assumptions or speculate. ANGS itself provides reams of irrefutable evidence that it continually tells porkies.

July 29th RNS:-

"As a precautionary measure, the Company has worked with its hedge provider to roll a portion of the Q3 2022 hedge into Q1 and Q2 of 2023. This has allowed the Company to take advantage of the very high forward gas prices and contango to lock a higher average forward sale price at no up-front cost to the Company."

Dec 19th RNS:-

"Whilst the Company had been seeking to defer this liability to include it within H1 2023's commitments and has been in discussions with the hedge providers to that end, it has now been unable to agree this. As such these funds are expected to satisfy the majority (if not all) of the earlier closed hedges."

What more needs to be said?

Moreover, the company has been assuring the market for months that it is "fully funded" and is "already paying down debt"... as this latest kick in the crotch raise/dilution shows, that is again clearly untrue. It very clearly has not been able to generate the cash to meet its various liabilities, including loan plus interest repayments, making good on missed hedge swap contracts and making contractually enshrined cash payments to Paul Forrest for the 49% acquisition.

Separately, how much has ANGS has to raise since the £12 million loan that it wasn't supposed to need in the first place?

You could not make it up... unless of course you were an unbalanced observer.

Ocelot trying to polish the unpolishable as usual...

The payment hasn't come earlier than anticipated. The payment is required by Mercuria immediately. Clearly, ANGS did not succeed in negotiating any deferment on the hedge into next year, despite it announcing the following by RNS on 29th July this year.

"As a precautionary measure, the Company has worked with its hedge provider to roll a portion of the Q3 2022 hedge into Q1 and Q2 of 2023. This has allowed the Company to take advantage of the very high forward gas prices and contango to lock a higher average forward sale price at no up-front cost to the Company."

This is what the company had everyone believe up until this morning's RNS... which begs the question: how long has it known that what it previously informed the market was utter BS?

Same old, same old. Credibility, trustworthiness and transparency through the floor as usual.

that £3.3 million is what ANGS repeatedly assured the market was deferred into H1 of 2023....

... a complete and utter porky pie as it turns out, much rebroadcast by the heavenly choir (how often has Asher7 crowed that the hedge was re-negotiated?)

So Mercuria was after all not prepared to accept this deferment and wants its money now... thus GL has been (to say the least) economical with the truth, as usual.

This comes as no surprise whatsoever to long-term ANGS watchers.

Hopefully there are very few who listened to the ramptastic squeakings of the heavenly choir over recent weeks. ANGS remains a short-term trader's share and the exact opposite of a viable long-term hold.

The company's biggest problem since day one has been trustworthiness, credibility and transparency. As today's kick in the crotch RNS show yet again, GL has done absolutely nothing to bolster this... in fact, quite the reverse.

Possibly the biggest bare-faced porky pie that got revealed today is that the missed 2 months of hedge production did not get deferred after all. As others have said, Mercuria is insisting on its pound of flesh... but it's decidedly iffy that George and cronies pretended otherwise for so many months.

Anyhow, live and learn... and be careful who you listen to.

The hedged volumes for November and December are exactly the same. 1.75 million therms a month.

The hedged volumes for January to June next year are also 1.75 million therms monthly - but then one also has to add the two months of missed and thus deferred hedged volumes into that mix, totalling 2.25 million therms.

Spreading that deferment equally over Jan-Jun would mean that 2.125 million therms per month are needed to meet the Jan-Jun 2023 hedged volumes.

Good grief? Is this 419 operation still running? Priceless.

I would point out (but of course, shouldn't need to) that words on a company's own website are worth precisely diddly squat. After all, this is the same company which announced - again in its own words and amongst countless other porky pies - that it was building a runway in the Philippines to freight in the millions of Onitors that were in production.

I personally would forget the words that have got the remaining Nigerian princes all re-galvanised into action and instead take the sage advice of Jerry Maguire.

"Show me the money."

What is surprising is that neither ANGS nor its Nomad spotted such an obvious typo in what was a short and standard RNS.

Especially the Nomad, Beaumont Cornish... you know, the outfit tasked as all Nomads are with the statutory duty of diligently checking that any information issued via RNS is both factual and accurate.

(I know, don't all laugh at once).

BalancedViewer clearly living up to his chosen BB nickname... not.

Seriously, does anyone over the age of 15 really use "LOOOOOOOOL", let alone with multiple Os and multiple !!!s

I see the heavenly choir has decided to add misogyny and sexism to their hymn sheets.

And (of course) they still desperately try to perpetrate the myth that, because ANGS is such a slam-dunk, cast-iron, million percent multi-bagging prospect, ANYONE advancing a more cautious view on ANGS simply MUST BE all the same person... and apparently that single person is a journalist for Drill Or Drop.

Mildy amused (but utterly unsurprised) to see that one leading voice in the GL fanboi glee club had no clue which well was being sidetracked. But hey, who needs research and facts, when your sole aim is to spout endless ramptastic BS?

Anyone having done the barest modicum of research would know that it ends in June 2025.