Member Info for itisagame

Not terrible news - they are doing it this way to try to dilute less in the future at a higher price

Angus Energy Completes Financing For Balcombe Acquisition Angus Energy Plc, a conventional oil and gas production and development company, is pleased to announce it has issued a £3 million unsecured convertible security at an interest rate of 0%. This will complete the financing for the Company's acquisition of a 25% interest in PEDL244, the Balcombe Licence, approved this month by the Oil & Gas Authority ("OGA"). The Balcombe Field Discovery is considered to be in the 'sweet spot' of England's Weald Basin given the 568 metre thickness and highest maturity of the Kimmeridge Layers. By comparison, the well test at Horse Hill in 2016, located northwest of Balcombe flowed at a rate of approximately 900 bopd from the Upper Limestone Layer in its 455 meter thick Kimmeridge section, the same section through which the horizontal Balcombe-2Z well is drilled. The well test of the Balcombe-2Z to be performed in Q2/18 will be the first horizontal well test of the Weald's Kimmeridge Layer. Per the Company RNS of 22 January, subject to OGA approval, Angus Energy will assume Operatorship of the Balcombe Field Discovery on behalf of its partnership with Cuadrilla Balcombe Limited and Lucas Bolney. The Company notes the two aforementioned approval processes are performed in separate, sequential stages. All operations at Balcombe will be performed conventionally through the naturally fractured, Kimmeridge limestones without a need for hydraulic fracturing or "fracking". Net Proceeds and Intended Use: · The issue of the convertible security raises net proceeds of £3,000,000. · The convertible security is an interest free, unsecured, unsubordinated obligation of the Company convertible to Ordinary Shares of £0.002 each ("Ordinary Shares") on agreed terms. · Provides financing to complete the acquisition of the 25% interest in the Balcombe Licence per the Company's 22 January 2018 RNS. · General corporate purposes which may include capital expenditures, potential acquisitions and strategic transactions. Financing: The Company has entered into a zero interest, unsecured convertible note with Bergen Global Opportunity Fund, LP (the "Investor") having a nominal value of £3,390,000 (the "Convertible Security"). The Convertible Security will (subject to the satisfaction of certain conditions) be issued on or about 25 April 2018, and the Company will make an announcement of the issuance. The Convertible Security has a term of 24 months. In connection with the Agreement: (A) the Company is issuing to the Investor 2,250,000 Ordinary Shares by way of a commencement fee in relation to the funding. The Company has applied for admission of these Shares, which rank pari passu with the existing Ordinary Shares in issue, to trading on AIM, and this is expected to become effective on or

It’s a £3m cln

I wouldn’t be surprised some of the investors from todays £2.5m UOG placing are partaking here, and they might need to cash out there to pay for here. The Uk aim oil institutional investor investment market for small amounts of money is quite a small market for 2 in one day.

Another 60k shares for me at the end, reinvested some of my IMM profits :) I highly expect 8p-10p on speculation while testing Balcombe alone, after that it depends on the results. I also expect the placing to be at 6p. when you add up the �3m placing for 23m shares, the �2m for 33.3m shares and i expect the next one �2m for 33.3m share you get a 7.8p average so thats my first target..

It would be a different share price if they offered a £10m placing via open offer discounted at 20p a share back at the start of November.

Vonk when this placing is done and you have a few minutes can you please do us a favor and clarify to existing share holders: 1 - how much cash does Angus have to hand. 2 - how much has Angus had come in since restarting production. 3 - a brake down of forcasted future costs for each project Angus are already involved with : 3a - holmwood 3b - brockham 3c - balcombe 3d - any other expected running costs. 4 - maybe change the company prospectus to ask for shareholder approval for any other projects you want to get involved with that will require a fund raise. 5 - is this the last placing for the next year atleast? TIA

Just for the record the 6.2775p trades at the end are buys, the 150k one is mine. I was going to wait for placing price confirmation but though I’d play it safe at what I consider a good price for the anyway. Still have some funds set aside if I’m wrong. Lowest buy quote I had all day was 6.24p and it only took a few trades to get to 6.5p after that. GL

But if it got rejected (which you have just been told it’s been approved by oga) they would have been refunded the original £2m then they would have raised the extra unnecessarily and diluted shareholders unnecessarily

Snap ;)

Apart from the placing price it’s all in the Jan 22 RNS, in theory once this second chunk of money is raised and paid (and if the money for “horizontal well test program” is from existing funds) the rest of the steps are the ones that should eventually return shareholder value. ����� Pay within 20 working days of 20 January 2018 �2,000,000 less �150,000 already paid under a confidentiality agreement with the Sellers; ����� Pay �2,000,000 following consent from the OGA for the Acquisition; and ����� Carry out and pay for the well test of a horizontal well test program of the Balcombe-2Z (the "Well") to achieve the following objectives: o� Measure the Well flowing production rates for oil and natural gas; o� Measure flowing bottom hole and wellhead Well pressures; o� Determine the gas oil ratio (GOR) of production from the Well; o� Collect and analyse Well oil, gas and water samples; and o� Measure and record Well shut-in bottom hole pressure over approximately one month.

it always spooks the market when they don’t put the placing price in the RNS and they know this. For better or worse I’m going to wait for confirmation before I place my buy order.

Been waiting ages, execute my darn buy order !!!!!! :)

a nice day, glad i topped up at 18.5-19p last week, still under on my 1st buy at ~25p but i dont expect it to be under for long :) GLA

Watched the interview the other day and read the B.B. and had a question for the knowledgeable folk here about the possibility of the agreement to send unprocessed gas which is high in co2 direct to the plant, I wondered wouldnt the co2 over a long period eventually start to clog up the pipeline? Is it something that would be easy or cost effective to clean? or would the pipeline eventually need to be replaced ? Or is it not a problem at all and pretty common across the gas market ?

Got my buy this morning without any issues, with a Mcap less than UKOG and multiple updates any time PANR looks oversold to me and I expect a bounce soon. GL.

It was about 11 -11.30, I saw the price change which caught my eye so others were trading at the same time, I’ve had similar errors but not this particular message before and I traded other shares around the same time so I’ll put it down as a one off due to the big price change, good luck tomorrow.

I Tried buying a small amount this morning but had the error “we no longer deal in this stock” or something like that with Halifax, anyone else encounter that or know why i couldn’t trade it?, I tried buying for 20 mins and then gave up? shame as I missed out on a quick 10% plus the rise i expect coming tomorrow morning.

there is just under 512m shares currently in issue, so ~£1.25m mcap at 0.25p. Plus 28,666,667 broker warrants at 0.15p (which will put £43k extra in psls pot when excised) Best to base the sp on 540m shares in issue, lse landing page not up to date. GL.

Its not liquid enough for a buy back, id rather they keep the money and build up a nest egg, with extra cash in the bank the SP would probably will go up more long term compared to an up / down swing around the div dates.