Member Info for irishmouse

Sour grapes without doubt JODO

Former investors of Anglo African O & G [AAOG] might derive some satisfaction in knowing that Anglo Tunisian Oil & Gas [ATOG], the private company set up by James Berwick and David Sefton [whilst still directors of AAOG, in 2019] to acquire certain Tunisian assets deemed inappropriate for AAOG to acquire because of its Tilapia failure, has just been deprived of two of its Tunisian permits.

The Tunisian Ministry of Industry, Mines and Energy published in the Official Gazette of Nov 23rd that it had relieved ATOG of its exploration permits for the South Remada and Jenein Centre concessions, which it had acquired through the takeover of Medco Energy O & G Tunisia. ATOG had failed to honour its state financial obligations and now also faces combined compensation demands of $9.2m from the Ministry.

??

I assume that Angus are in communication with Paul Forrest who owns 49% of saltfleeby and is a director of AAOG. What his plan is I don’t know but I’m time I am sure we will be told.

Fair. point oofy but hopefully you get my drift of thought.

Two years ago Sarah Cope informed us that a deal could be done with SEL for a quarter share of the saltfleeby field and this was the deal.

The consideration for the exercise of the Option shall be the issue and allotment to SEL of such number of ordinary shares in the capital of AAOG as is equal in value to £8m.

At the time this seemed to be a ridiculous amount as Angus who own half the field had a MC of just over a million, as I type they have a MC of 16.3 million. Is it now time to close the deal, raise some cash and move on ?

With luck we will get an RSN asking share holders to vote on the deal.

Dutch this my help.

Option to acquire UK Petroleum Licences



The Company will tomorrow enter into an option agreement (the "Option") with Saltfleetby Energy Limited ("SEL") to acquire a 25% interest in in the Saltfleetby gas field, East Lincolnshire.



SEL holds a 49% legal and beneficial interest in Petroleum Exploration and Development Licence 005 (the "Licence") and is a party to a joint operating agreement regulating the operations under the Licence (the "JOA") . On exercise of the Option AAOG would also become a party to the JOA.

Sorry should read 49% holding

Morning Dutch.

AAOG have an arrangement with SEL who own 41% of the saltfleeby gas field to buy into half of their holding, so basically if Angus is a success and we do a deal with SEL we could be up and running again.

This is a very basic description of what is going on as I am typing on my phone and the keyboard is very small.

Tue, 22nd Mar 2022 16:29

RNS Number : 6527F
Angus Energy PLC
22 March 2022

THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE TAKEOVER CODE AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE.



THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.



22 March 2022

Angus Energy Plc

("Angus Energy", "Angus" or the "Company")

Regulatory and Planning Matters

Angus Energy plc (AIM: ANGS) is pleased to announce that the Environment Agency has issued its Variation Notice for the existing Saltfleetby gas field permit. The site permit now encompasses the new activities of processing and compressing of gas for direct export to National Grid. No further regulatory or planning permissions are required before First G

Well we seem to have an optimist and a pessimist on board, time will tell us who is correct.

May the luck of the Irish be with you all.

It seems that revised planning permission for saltfleeby has been granted today.

https://lincolnshire.planning-register.co.uk/Planning/Display?applicationNumber=PL%2F0176%2F21

Morning all.

Unless Angus speed things up rather quickly I have the feeling that SOU may retract their offer and no one else will jump in.

(:-))

Gentlemen. I would assume that anyone taking a stake in Angus would be in negotiations with the lender as current agreements seem to be untenable. Yes the lender can on default take over the asset but do they really want it. A new owner could on different terms give the lender a good chance of getting a return.

Sorry just read your post in full, of course you were aware of it.

Skittish, did you spot that he was made a director of AAOG last week ?

Oofy, I don’t feel that you butted in, I welcome any one who posts their views on any board as long as it is rational and has some bearing on the company. If we ever do get resisted the umpa lumpa’s will invade the board so let’s enjoy our time here for as long as it lasts.

Oofy, Re Paul Forrest, we don’t know what he has or his intentions for the company, but he and forum are the only chance we have at this moment in time.

Pawlo, why indeed would an accountant take a directorship as finance director when the said company has no finances to direct?
The said company also can’t pay a salary or pension contributions, he is either stark raving bonkers or knows a little bit more than we do, which would not be hard.