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Yes, absolutely. ANGS should be asked about paying back the first £3m junior loan in confetti (especially after having assured shareholders that taking out loans was better for them than dilution). It should also be asked why the confetti used to pay back that loan was valued at so much lower (0.66p) than the fixed floor price (1p) stated in the contractual terms when the loan was taken out.
Separately BP, your mentioning of the "Hoooties" (sic) in the thread below made me chuckle. To my knowledge, there are no Hoooties or Blowfish (or indy bands of any type) involved in the current situation in the Red Sea. I suspect you may have meant "Houthis".
In other words, "jam tomorrow... honest!"
Just for info, we do not know much of the detail of the delayed replacement £20m global financing - for example, we don't know what pricing will be imposed by Trafigura for ANGS-produced gas under the 5 year fixed offtake agreement, nor do we know what quantity of monthly produced gas will be subject to a below-market price revenue ceiling.
However we have been told that this is a 5 year amortising loan at SONIA (5.2%) plus 8%, with no payment required in the first 12 months. That's going to cost ANGS in total £9.26 million in interest, with 48 monthly payments of c. £610,000 being required from month 13 onwards (or £7.32m per year for years 2 to 5),
If as stated in the Dec 20th RNS, the replacement £20m loan is used to pay off Mercuria, it would seem to be entitled to its 8% royalty on all Sfby gross (NB gross) revenues until the field ceases production as stated in the contractual terms of the original £12 million senior loan. At current production rates and market gas prices, that would add another c. £2 million per year that ANGS would need to pay over.
By my reckoning, that's getting towards £9.5 million per annum in repayments that ANGS is going to need to find from 2025 for at least four years... just to secure a £20m loan.
It's a bit trite to put words I've not said in my mouth, MrCoffee.
All I've pointed out is that some here have stated that they bought shares in the company directly from Amit since the company delisted back in early 2017.
You may not have parted with any more hard-earned, DBW. However, a few IDs posting here have stated (whether truthfully or not... who knows?) that they have bought shares directly off Amit since delisting.
A truly laughable attempt to backtrack and wipe egg off the face.
Jesus, the sheer ignorance.
The hedge isn't even going to be in place in Summer, provided that the desperately needed global refinancing goes through.
It's going to be replaced by a fixed offtake agreement for an currently unknown percentage of monthly field production at currently unknown fixed pricing.
As has been commented on previously, Amit's most recent claim on Jan 19th that "a number of private investors and a London based US institutional investor were contacted" is a direct contradiction of his earlier assertion within the Dec 21st update that "shareholders should also note that part of the complexity is due to the fact that the agent needs to notify all platforms and shareholders in unison."
Obviously these two statements cannot both be simultaneously true, so things remain distinctly fishy.
The best chance IMO was 7 years ago. It was to go after Cairn, the Nomad, given a Nomad's legal obligation to protect shareholders by ensuring that everything stated by an AIM-listed company was both verifiable and fact-based (I know, I know... don't all laugh at once).
At least Cairn was very easily findable. However, that horse has long since bolted.
Helx says "...until i see a delay that kicks the can miles down the road I don't believe it's all BS." Unfortunately for him, Amit is clearly well aware of this - he never issues an update that "kicks the can miles down the road".
Instead his modus operandi is either to say nothing at all, or to issue multiple updates where each kicks the can a few more months down the road. All Amit needs to do is rinse and repeat - and the likes of Helx will presumably tolerate this and keep on believin'.
OneToMany and his prediction of 1.5p by end March... still looks just a tad bold to me.
I presume the heavenly choir is busily averaging down... yet again.
Domestic energy prices will fall by 16% in April, according to a prediction by consultancy Cornwall Insight, bringing some relief to billpayers.
It said the annual household bill when using a typical amount of gas and electricity was expected to drop from £1,928 to £1,620.
Households have endured two years of high prices, but analysts suggest there could be a further fall in the summer.
Bills would still be higher than the pre-crisis norm.
The prediction is not guaranteed, as it will be another month before the regulator, Ofgem, sets its price cap for the second quarter of the year.
"Healthy energy stocks and a positive supply outlook are keeping the wholesale market stable. If this continues, we could see energy costs hitting their lowest since the Russian invasion of Ukraine," said Craig Lowrey, principal consultant at Cornwall Insight.
https://www.bbc.co.uk/news/business-68055884.amp
Out of interest, exactly where is the latest line in the sand being drawn by the still positive? Hubba's personal line has needed to be shifted a few times already, but still... where is it now? End January? End June? End calendar 2024?
That is a laughable piece of myth-making, Hubba. You've confronted and had a pop at anyone (yes, literally anyone) who has expressed any doubt in the truth of Amit's many and varied promises. It's made no difference if they're a shareholder or not (and how could anyone possibly tell anyways?)
The sole crime for you has been for anyone to express reservations about Amit's credibility and it's literally just that which has invariably kneejerked you into coming out all guns blazing to defend ABH.
Trying to pretend otherwise at this late stage and after mountains of evidence to the contrary is more than a little ridiculous.
To correct your lies, BV (yet again), I've not posted on ANGS for 7 years.
However, the SP while I have been commenting has fallen by a factor of 97%+.
I'm relieved for your sake that you have apparently filled your "quota" and so presumably won't be buying any more. Let's face it, so far you've called the lowest point of this eternally falling knife eternally wrong for the last 3+ years.
BV, given the extent of your many claimed purchases at far higher prices than today's, you've clearly been reacting to things that haven't happened yet (and frankly, that are unlikely to ever happen).
The market is showing a total lack of interest in puff and nonsense claims of alleged major partners being about to invest. I think you need to invest in a new brand of snake oil in your ever more desperate attempts to polish the unpolishable.
But great news for you again today, eh? You get the opportunity to average down. Yet again.
Go on BV... average down yet again. I'm sure you think it'd make sense...
Given that the SP is at a new all-time low, the whole market in general seems decidedly underwhelmed by these alleged "major partners that will be investing in the next stage of expansion to be announced shortly".
It certainly hasn't put any sort of premium on the ANGS SP, has it? It seem that you're the only person who finds this "very strange indeed", BV.
For once I'll agree with BV.
When Singhie reports on things that have actually happened, i.e. The FACTUAL elements in his daily output data reports (actual daily and cumulative monthly production and the revenues associated with those), that is IMHO useful (though it's questionable whether this needs to be listed every day). Gallder does the same on a monthly basis.
Where Singhie keeps falling provably flat on his face is when he starts making his eternally wildly inaccurate future share price predictions. He's never got anywhere close, so he might as well forget doing that and cut his daily posts to half their current length.
BV I have zero stress and zero misery.
Primarily because I have done my research and - allegedly entirely unlike yourself - I have not been forced into averaging down constantly as the SP reaches (and stays at) 52 week lows.
I could (obviously) acquire myself a holding today at a significantly better average than yours, should I so choose - but because I've bothered looking closely at ANGS's position and all the factors that appertain to that, I choose not to.
A 4% saving on £20m would indeed equate to £800k per annum.
But offset that against Mercuria's being due an 8% royalty on all Sfby gross revenues ad infinitum, once the £12 million senior loan gets 85% paid off.
Sfby is producing in the region of 2.5 million therms a month.
That's 30 million therms a year.
Let's suppose an average gas price of £0.75p a therm.
That'd be a gross annual revenue of £22.5 million.
8% of £22.5 million is £1.8 million per annum.
(Of course, ANGS won't bank that £22.5 million from gas sales, because the "fixed offtake price" imposed by Trafigura as part of the replacement financing will of course be lower than the market price for some or all of the field's production).