RE: potential 10-bagger?23 May 2020 10:36
I am the new generation. Very sorry for all the losses suffered by the old generation, which refuses to review its investment and ,like a broken record, is stuck in licking its wounds. The undisputed fact is that the company is adequately funded . gas project is worth £50 million plus and easy to complete. on the oil front, the problems encountered are almost same as UKOG(water etc) in the same area repairing something few thousand feet underground is no mean task compounded by all the red tape one needs to circumvent. Why cant old investors accept responsibility of viewing this company with rose tainted glasses out of sheer greed rather than objectively. The only chance of the old investor recovering any funds here is by averaging out at current bombed out prices.
At present, there is a clear road map with timescales . the risk is much lower. On the oil front, its a repair job and at current oil prices, there is no rush. But repair job will be carried out and it should not be surprising that a few hundred BOE will flow sometime next year (equivalent to what UKOG is producing now) . Gas too will bring in revenue by end of this year or early spring. and we don't have the value destroying dilutions. For the new investor, the upside is anything between 5-10 folds from here in the next 12 months which is enormous. As the company meets its objectives in the timescales stated the share price will re-rate and indeed that is what is happening for past few weeks. And the re-rate is gathering momentum. neither the old wounded shareholders nor the fresh investors can influence the share price . the day traders have been taken out by persistent buying. there have been no spikes . Its a gradual steady journey up north . and the next few RNS (imminent) over the next 3 weeks may lift the SP to 4 pence depending upon the confidence they inspire/restore.
Meanwhile technical data have turned firmly positive(after many months) and suggesting a break through 1P
https://www.barchart.com/stocks/quotes/ANGS.LN/opinion
Perhaps its time for the old investors to swim out of the venom/losses they are drowning themselves in and view this without the dark shades of doom and gloom. the outlook at present is sunny and warm and the current share price an absolute bargain.