Member Info for itisagame

Question now is : do you cash in your 6 shares and buy 1 zen share or not ;)

1p.. was it worth trading 1p, are the brokers struggling that much.

“
Angus Energy Plc
("Angus Energy" or the "Company")
Saltfleetby Farmin Agreement

Further to the announcement of 19 June 2019, Angus Energy plc (AIM: ANGS) is pleased to announce that all conditions precedent to the Farmin Agreement with Saltfleetby Energy Limited transferring a 51% share in the relevant blocks of PEDL005 Licence have been satisfied. All parties having given assent to the Transfer of Licence, already approved by the Oil & Gas Authority, the Company has now entered into a Joint Operating Agreement with Saltfleetby Energy Limited to formalise ongoing operations.

George Lucan, Managing Director, writes "Now that the legal formalities are completed, we look forward to progressing with reconnection and resuming production from the Saltfleetby Field."
END.

Good news for Forum, going as planned elsewhere for them.

There are only two of them now, give them a chance.... :)

If you can get away with it and are extracting £200k/month from the company why wouldn’t you expect anything more than snails pace.

Its as if they are helping someone by keeping the sp lower for as long as possible. But no one is really building up a stake, and no one is really selling as not much volume, so other option is for financing ?? Ensuring the vwap / ma is lower for longer??

What are these unforeseen valid claims they keep mentioning?

They must know of something else they have not yet informed the market about or they wouldn’t keep saying it.

the end of March absent the loan from Zenith and any unforeseen valid claims.

Anglo African Oil & Gas plc ("AAOG" or "the Company")
Zenith Loan Agreement

Further to the announcement of 6 January 2020, the Company confirms that it is currently perfecting the security to be granted to Zenith Energy Ltd ("Zenith") pursuant to the loan agreement between the Company and Zenith. This requires the re-registration of Anglo African Oil & Gas Congo S.A.U as a "multi shareholder" company in the Republic of the Congo, which is an administrative legal process. Accordingly, the Company has not yet drawn the £250,000 available to it pursuant to that agreement but is confident of being able to do so in due course. A further announcement will be made once the security has been perfected and the loan has been drawn.
In the meantime, and following receipt of monies from Forum Energy Services Limited as announced on 20 January 2020, the Company has sufficient cash to continue trading until

surely the supply of free sub 0.5p shares is dwindling, been 5 weeks since last milton news (if they did sell just over 1.7m shares they hit the next % point and need to report it), no CLN shares, no ISA shares.

only other party is Sister SAS who at 4.01% would have to report if they sold basically anything so its probably PI.

i cant wait for any positive news.

Never know we might need to help zen out, how about buying a few of the 10% bonds with that £250k we are paying 5% on, then taking the asset back if they can’t pay it back :)

That line :)

“ Operating profit (loss) before depreciation, amortisation, well impairment, share-based payment charges, restructuring costs and gain (loss) on sale of assets and foreign exchange:”
$812,000.

Would be rich if they didn’t draw down on it after banging on about running on bread and water for the past 2 months !

They will draw down on it because it will form part of their severance packages.

The isa cash won’t even buy a car load of their £3k a bottle wine god forbid they have to get it from a supermarket for the leaving doo ;)

Forget Algos, If think the trade lists on lse is screwed up today again, it’s showing multiples of the same trade and time stamp on many shares, other sources show different. The usual A* service from LSE again...

Quiet day but £30k worth of sells on zen in 500k chunks, then what looks like small algorithm buys to prop up the sp, someone wanted out at below their placing price.

Or they have not raised it from the bonds yet :)

well the operating profit reported in the last full results is currently ~50% of the current mcap, just a shame over half of that went out in directors costs. if they cut back there and elsewhere then there is plenty to go around, easy half a mil saving possible between exploration and director cutbacks :)

because the current board might be about to get kicked off, and it would be the best way to return capital to the group that called the GM.

If they got in, It would be mighty hypercritical for them to repeat the same as the last directors, after the years of them attacking the company, every bb, the individuals, every media format, at every possible chance.

not that i would trust the new lot either, but unfortunately everythings about money in this world.

"maybe a special issuing of shares, maybe a cancellation of the 37m shares involved"

thats how short squeezes normally end historically from my experience, a new placing at an agreed price to let the shorters out in a way that conveniently benefits the company, new shares normally issued at a higher price over the original issue price but not in the sky high prices of the boom. This allows the share to return to a state of an "orderly market" and trading to continue.

not all but most i have watched in the past end up suspended in the meantime while new placing is arranged.

use the famous example of VW that went up >500% over a couple of days temporarily, it soon fell again and people only made money if they sold in to the rise. many lost alot if they bought in to it.

Just make the most of it, and good luck :)

ive been pondering the possibilities, what else is a wet weekend for.

- Zen deal gets approved, Zen and Forum together have enough support to raise cash to proceed with the plan put forward.
- Zen deal gets approved, but Zen fail to raise the $2m required for license renewal (or Zen raise the capital but do not allocate it to Congo as they need funds for other projects), license expires June/July 2020
- Zen deal gets denied, new forum directors raise the capital needed to go forward with 100% (of the 56%) owned by AAOG.
- Zen Approval takes to long, uses that and SNPC payments as excuse to not renew license, Zen have not really lost anything as they have hardly any cash invested in to the project, but the idea of AAOG Congo has helped them sell their bonds for their other projects in the meantime.
- Zen deal gets approved, Zen only renew the license and do nothing more until SNPC payments.
- Zen Approval takes to long, zen doesn't forfill its commitments by Feb 2021 (which may or may not be formally written as requirements in to the full put and call option agreement, requiring execution of certain issues ie license renewal, work on the well), project is kept on hold for years.
- New Forum directors audit the company, find escobar's millions and reasons to cancel the zen deal then continue as originally planned but under new management.
- Nothing happens in Congo for 6 months and the license lapses. new management RTO a new project in to the company, Congo is all but forgotten apart from the hope that one day SNPC pay back their debt.
- Zen deal is approved in time, but Zen have had bad news on other projects, that combined with the reality of zen being unable to repay their bonds has caused the zen share price to tank and the £500k of Zen shares due to AAOG actually gets AAOG a much larger interest then envisaged.
- It all goes as currently planned, deal and cash is approved, well program is underway, SNPC pay up, everyone ends up happy and richer, we all live happily ever after....

To many to think of, to many ups, downs, lefts, rights, yes' and no', ifs and buts, so as always im just going to have to wait and see.

JOA - been alot longer than 45 days since the last SNPC payment. Is the JOA technically still valid?

"Default
In the event a party fails to pay its contribution to the costs of the Petroleum Works it will be declared in default and given 45 days to remedy its failure. The consequences of such default for the defaulting party include the automatic withdrawal of the defaulting party from the PSC and the JOA, together with its rights to all Hydrocarbons."

were the placing shares really issued at 1.25 cent and have still not been paid for?
other than the temporary squeeze what else does the company have going for it?