Member Info for HeadInTheSand

"It's all on the interviews..." Well, yes... except much of what George promised in his various love-in puff piece interviews has turned out to be complete fairy tales and utterly untrue.

Why would anyone point to George's words as being a valid reason for investing? This is the guy who in late March was stating "We'll make £7.2 million of revenue in June from all the sales of unhedged gas in that month".

BV also advances the utterly bizarre point of view that nobody invested in any company should ever criticise that company, regardless of all the justification for doing so. Presumably because he's looking to pass his particular parcel bomb to the naive and leave them catching the falling knife? That'd of course explain the endless sycophantic praise that he and his ilk permanently spew over George and his executive dream team.

"Ever notice how all the abuse and bad language comes for the ramp squad?"

That's because it's all they've got. None of the publicly available and very easily verifiable facts support their perma-love-in with George and their peddling of multi-bags just around the corner. Quite the opposite, in fact.

Hence we get the playground abuse. Same old, same old.

There absolutely is one thing George can do, or rather finally stop doing.

This from the company in answer to a very recent investor question:-

"...essentially the Company underestimated the installation hurdles..."

Perhaps if George stopped being so wildly over-optimistic on every possible occasion, the company might win back a few shreds of the credibility that its to date continuous policy of "over-promising, then under-delivering" has pretty much entirely destroyed. To cite just two of countless examples...

Who can forget George in late March banging on about all the unhedged gas that would be produced from June 1st and the £7.2 million of revenue that would deliver for the company in June?

Or even more recently, who can forget the repeated statement within the July 12th RNS that said:-

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

And of course just 17 days later, the company had to come clean with the news that it couldn't meet the Q3 hedge after all and needed to defer a portion of that into Q1 and Q2 next year.

You really don't need to be a PR genius to see where ANGS's credibility problems lie. For once, just stop telling porkies, George.

Stockbob claims "it is a non issue until the hedge comes into play which is q1-q2"

This of course is a complete lie.

There's still hedged volume to be met this quarter, and a big fat 5.25 million therms of hedge to be met next quarter.

That sort of blatant lie, I'm guessing spewed out in the hope of duping the unwary, tells you all you need to know about the numerous posters just like this.

Deliberately deceptive or crushingly ignorant? Take your pick.

Stockbob, don't be so ridiculous.

We don't know how much of the Q3 hedge remains to be settled in Q3 - just that some of it does by the end of September (so, in under two months' time).

We do know that the entire Q4 hedge volume remains as was (5.25 million therms, so, more than ANGS has predicted it can produce without a sidetrack).

We now know that the Q1 and Q2 hedged volumes have been increased from their 5.25 million therms each by whatever quantity Mercuria allowed to be deferred from the current quarter, due to ANGS's failure so far to produce any gas at all.

So, claiming that the hedge is a "non-issue for at least 5 to 6 months" would correctly be known as "a complete porky pie". It's still a very major issue - and thta successful sidetrack is very definitely needed. Now more than ever, given the deferment.

Bridgedogg, try some very basic research.

"IF first gas comes within the next couple of weeks and IF the sidetrack follows shortly after and is successful the hedged amounts being rolled over wont be very significant. From Oct the higher hedge volume is around 1/3 of the expected production...."

Utter rubbish. The Q4 hedged quantity is 5.25 million therms. The maximum output for the field with fully successful sidetrack and all compressors in place is 10 million therms a quarter (and that's according to the company itself). Hardly 30% then.

"..and that decreases after 6 months."

Bzzzzt. Wrong again, The monthly hedged volume doesn't drop until July 2023. The Q1 and Q2 hedge were both originally for 5.25 million therms each - but of course those totals have now been increased further, because ANGS had to defer some of this quarter's hedge into the first half of the next year, due to its (currently ongoing) failure to produce anything at all.

At least make an effort to get the basic facts right, eh?

It's not the case.

The big issue that the short-term heavenly choir has is when people refer to facts. The ramptastic squad simply HATE facts, because none of them - not a single one - supports their endless "GL has done superbly! Jam tomorrow! This time for real! Honest!" schtick.

So... an examination of all the publicly auditable and verifiable facts inevitably leads to a more wary opinion on the company, as anyone rational will conclude. The Lucan fanboi club therefore only has hopes, dreams and predictions to punt and peddle, something not helped by George's literally unbroken record of missing every single timeline and budget that he has ever set.

So the ramp-ettes have recently resorted to "But that's all in the past! NOTHING in the past matters at ALL!" Which is of course hysterically amusing. What they're effectively saying is that if a week ago George promised production rates of ten bazillion therms an hour to start the next day, but then revised that to maybe 5 million therms a quarter, starting sometime hopefully in August, the first prediction would not matter one bit.

Riiiiiiiiiiiight....

All fair points, WG... but I'd suggest that the most obvious piece of evidence is the countless and to date literally undeviating series of promises and projections issued by the company, precisely none of which turned out to be in the least little bit true.

RT003's fanboi adoration of George Lucas (oops Lucan) has reached unutterably bizarre new levels. So much so that he makes a crazed teen devotee of One Direction seem totally balanced and calm.

"...George Lucas has superbly got us to within hours of Gas supplying the national grid".

Interesting use of the adverb "superbly"... two years late (and counting), and tens of millions of pounds over budget, accompanied by countless missed self-set timescales and broken promises. "Superbly" indeed...

"Within hours"... carefully non-specific, I note with amusement. How many more hours on top of the 17,500+ hours that ANGS is already late, I wonder? 24? 240? 2,400?

Bu hey, none of the past matters, right? Even if it's extremely recent past, like a few days ago. None of those broken promises and wild under-/over-estimations matter one bit - it's all about whatever George promises next, right?

Seriously? How much gas, George? And by when?

Not in the least Hamsters.

I'm personally irritated that ANGS hasn't been producing lots of gas for many months now, as it repeatedly promised it would be.

Those "millions of people" you mention would be of like mind.

Silverlight...

You say that AIM "is not a market to be playing in if you expect micro cap CEOS to do everything they say on time, in full and on budget!"

Not everything they say of course. But it would be nice if George and his cronies managed to do anything they'd promised on endlessly revised time, in full and on endlessly revised budget, if only just the once and for the first time ever.

You go on to say that "it just doesn't happen." I agree - and with ANGS to date, it has literally never happened.

You conclude with "Aim was basically designed to raise moment for pre revenue companies and to keep unscrupulous bods in prawn sandwiches." What you seem to be saying here is that AIM companies are in general entirely unscrupulous charlatans and that only way to make money is to play the utterly unjustified and groundless spikes. Again I'd agree - but I am mildly surprised to hear that this is seemingly your view on ANGS as well.

Can I take it then that you don't trust a word ANGS says either, after all, regardless of your fervent public support for George and his merry men?

"If you lose you took the risk in this Wild West of a market."

Well, either that, or he actually believed something the company kept stating when he bought in.

Lots of people have made that particular mistake, if only because to date, ANGS has been 100% consistently wrong in everything it has assured and promised..

In terms of who has been right on ANGS and what it has or hasn't achieved since George and his executive dream team took over, I think you'll find that those expressing a more cautious view on the company have been correct - but so far only 100% of the time.

Now George... how much gas and from when?

BV, I take it you're referring to the increasingly bizarre allegations from the raving fantasist RT003, who's convinced that anyone with a more cautious view on ANGS simply must be one and the same person and who's getting mixed up with his ludicrous claims of bottles of average scotch that he's either sent out or received?

Yes, nice to see those gone. Now... how much gas, George? And by when?

After that statement, you'd better take a long hard look in the mirror, Darien.

SL, this makes the success of the sidetrack even more crucial. Irrelevant of that, it's very obviously not financially advantageous to contract to sell even more of a commodity at rock-bottom prices during a period when market pricing is considerably higher than it is now. One only does that if one has no other choice.

SL, I am simply pointing out the fact that the company's RNSed statements of July 12th and July 29th cannot be reconciled.

Darien, feel free to point out where any financial advantage is in the company now having to supply even more gas at low hedged prices in Q1 and Q2 next year, when the actual market prices for gas in those periods is so much higher than it was last month?

Darren, the RNS clearly states that the deferment was done as - and I quote - "a precautionary measure", so to lessen the risk of something negative occurring, ie the company being unable to produce enough gas in the current quarter to meet the Q3 hedge.

Yo may not like this company statement, sure (and I'm not surprised) but the fact remains, that's what it said.

Sorry to break this to you, baits, but the party that conclusively proved they are full of BS is the company itself.

RNS 12th July:- Production in Q3 will comfortably exceed this quarter's hedge.

RNS 29th July:- We've had to defer some of the Q3 hedge into next year because we can't produce enough gas in the current quarter.

Spot the blatant falsehood.

Remind me baits... who's the liar again?

Noel, all this means is that now more than ever, the sidetrack simply has to be successful, or ANGS is not at all in a happy place.

I wonder when the spud date is scheduled for now?

Noel, it could make a very substantial difference if ANGS cannot produce the extra therms that have now been added into the Q1/Q2 hedges, which were already 55% higher than the Jun-Sep 22 hedge volume.