Member Info for HeadInTheSand

People here don't want ANGS to fail - that's just another myth spread by the ramptastic squad to try to explain away more negative opinion, usually accompanied by some ridiculous green swampy accusation..

The reason that rational and genuine posters here express negativity about ANGS is NOT AT ALL because they're trying to produce fossil fuels out of Saltfleetby...

Quite the reverse. It's because they've so far repeatedly failed to produce any, despite the myriad promises and assurances to the contrary.

So it;s not at all about what ANGS is trying to do. Instead it's about what it's failed to do, its clear lack of competence and its equally clear tendency to issue wildly over-optimistic projections, none of which have ever come close to being true or reflecting the cold, hard reality of things.

In fact ANGS has done this so consistently that some may with not insignificant justification suspect they've been (and continue to be) knowingly misleading in their public pronouncements.

What a brilliantly incisive and intellectually rigorous rebuttal from Shareholders, citing copious evidence to support his rebuttal...

Tells you all you need to know about that type of mouth-breathing bottom of the barrel shill.

...George needs to shunt even more volume out of the current quarter's already amended hedged volumes into Q1 and Q2 next year?

Of course, every time ANGS is forced through its ongoing failure so far to produce even a whiff of gas dramatically reduces any revenue opportunity for the company in the first half of 2023, while simultaneously making a successful sidetrack even more crucial.

That sidetrack's needed to hit the Q4 2022 hedged volumes, let alone the now increased Q1 and Q2 volumes.

George... how much gas and by when?

People have expected many things before now, solely because George has promised and assured that they'd all happen by certain dates.

So far, not a single one has.

Life must be comforting in the self-created dream world that RT003, this board's most determined fantasist, helplessly lives in...

Let's remember his promise of 5p on first gas or he's leaving (which as 360Phil has already pointed out, doesn't really stack up much with his claim to have bough more yesterday at around 1.3p in his hope that these will double in value... but hey, if the real world means nothing to RT003, why should basic maths either?)

Noel, maybe... but only if a) the sidetrack is successful and b) kicks in from Oct 1st and c) doubles current hoped-for production levels.

Of course, Mercuria's £28 million is guaranteed, come what may (unless George has to beg to shunt more Q3 hedged production into early next year, which would of course mean that Mercuria gets even more guaranteed money).

They can't use facts.

Because all the oh so easily verifiable facts categorically don't support the heavenly choir's ramptastic chorus (but they absolutely do support that George very obviously has an extremely estranged relationship with the truth).

Which is why the shills and the short-term crew have to go straight for playground insult - it's all they've got.

"Incredible Tweet"? Not really.

Just the usual ANGS can-kicking norm which those with longer experience of the company are by now very well-used to.

Caravanboy, you may be right... but of course the "days now, not weeks" statement has been made by numerous people (including the company) over the last 2+ years.

PS "How much gas, George? And by when?"

Howey, I can categorically confirm that I don't think you're a cult...

I think the expression is "jam tomorrow"... it is ever thus with ANGS

What's going on? The usual from ANGS, I'm afraid...

Unfortunately, it's the same incompetents that will be arranging the drilling of the sidetrack attempt (which is now even more crucial than before, due to George having to shift Q3 hedged volumes into Q1/Q2 next year).

Who's responsible? George and his executive dream team of course. They're the bunch of perma-incompetents that investors have entrusted with their hard-earned - and unlike Mercuria, the sums that PIs have passed over haven't had the whole field put up as surety against them.

As is by now blatantly obvious - and for sure even the Lucan fanboi chorus knows this (but will never admit to it) - George and his cronies are at absolute best crushingly naive and over-optimistic. A more realistic appraisal based on the ever-growing mountains of evidence might lead many to believe that misinformation has been knowingly put out there... but that's a judgement for each to decide upon.

Noel, the thing about Mercuria permitting the deferment is that by doing so, it guaranteed itself a few extra million pounds, because the Q1/Q2 market futures pricing is so much higher than July just gone.

This wasn't a decision made out of charity... as you know, Mercuria has brilliantly negotiated itself a total win-win situation.

Debenhams? CTAG? WRN? AAOG?

As I've consistently said, a successful and production-doubling sidetrack would be a total and utter game-changer - and with that being achieved before say the end of October , I could see an SP around the 5p level being easily justified.

However, the absence of such a sidetrack or the failure of one - given the increased size of the Q4 hedge, plus the now even larger volumes hedged in Q1 and Q2 next year following the recent forced deferment - would IMO mean that the company would not be in a happy place at all.

Very much red or black, then - so it comes down to the level of trust and confidence that anyone has in George, his executive dream team and the various pronouncements that they make.

SillyButtons, I entirely agree with you and your calcs.

I'm pretty certain that just the July hedged volumes were deferred, because as I said back in early July, at a production rate of 1.67 million therms a month (George's most recent prediction), the company would have to start production before the end of July to be able to hit the total volume hedged in Q3 (3.375 million therms as you are clearly well aware).

As we now know, despite RNSed assurances from George right up to July 12th that production this quarter would "comfortably exceed "the Q3 hedge, the company had to come clean on the 29th and admit that its earlier assurance was complete BS (as anyone with half a braincell had already worked out).

I reckon the company needs 43 days of continuous production at George's latest hoped-for rate to meet the remainder of the Q3 hedge, so I'd say it has to start by Aug 18th.

And (just for Howey) of course, it'll need an augmented rate of production in order to be able to hit the larger Q4, Q1 and Q2 hedged volumes. Perhaps having a successful sidetrack drilled by that time might be just a tad important?

BV you talk authoritatively about "lies, spin and blagging". Relying on your expertise in these matters, I wonder how you'd describe the following?

On 12 July, ANGS states via RNS that:-

"Anticipated production during Q3 comfortably exceeds the hedge amount as advised on 28 June 2022."

Just 17 days later and again via RNS, the company on Jul 29th states that it's actually having to defer a portion of the Q3 hedged volume into Q1 and Q2 next year.

Speaking of deceit, perhaps there's just a teensy contradiction to be spotted in there somewhere?