The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
another bad news unfortunately
https://www.bbc.co.uk/news/uk-england-lincolnshire-61079420
"An oil company accused of "seizing" on the Ukrainian war to push forward exploratory drilling plans has had its application formally refused.
Egdon Resource said extending permissions near North Kelsey could provide valuable UK-based oil reserves.
On Monday, Lincolnshire County Council confirmed its decision to reject the appeal.
Planners said Egdon had already had eight years to start work but had so far not begun.
Councillor Paul Skinner said: "They had the opportunity since 2014 and really I see they've done nothing.""
with derampers in full force, they main aim is to drive sp down so that they can buy cheaper. i have added some more today. company generating revenue and fully funded for the incoming frac. this will rise back up soon!!
our mcap only just 17m at 1.3p. ANGS revenue expected to be 7m per month and maybe even higher on higher gas price AND hence our mcap is expected to be much higher once production starting
below is a good read as reminder for those researching on ANGS
https://total-market-solutions.com/2022/04/angus-energy-plc/
"ANGS’ primary focus is moving Saltfleetby into production in early summer to take advantage of gas prices that have surged to 229p per therm. A revised Competent Persons Report published last October estimates the field is capable of generating £230m in gross revenue, which would secure ANGS, with its 51pc interest, a cashflow of £55.9m on a mid-case (P50) basis, and £31.7m on a conservative (P90) basis.
Fabrication, testing, assembly and certification is well advanced, with the site expected to be ready for commissioning later this month. ANGS is targeting gross production of 1.5m therms per month worth £7.2m at today’s forward price. The company is aiming to begin sidetracking operations at Saltfleetby’s first well in June. The final local authority permissions required for first gas were confirmed last month. The push towards production was supported by a £1.4m fundraise in February"
ANGS expecting to generate revenue around 7m per month. SOU only interested to buy cheaply. i am glad ANGS has come to common sense and not selling us out cheaply.
ANGS also aware that with production just within weeks, our sp will be much higher compared to cheap takeover offer
Art mentioned about refinancing - could be with credit facility. but credit facility could be convertible which basically same as CLN and hence its more dangerous than placing as financier can get paid at lower than sp every time,
just wish Art do the placing now while we are up
Wres has been in poor performance for ages, so i dont think we are suspended because of that. Henfe, what is the reason for suspension? I know a couple of reason could be takeover or late in producing annual accounts.
just noticed EOG also have the old licence on shale.
is this true, should add several more pence on any good news on that front - added bonus
https://www.proactiveinvestors.co.uk/companies/news/129316/europa-raises-stakes-in-uk-onshore-projects-in-deal-with-shale-petroleum-ltd-129316.html
is it possible we get to 3p soon, before getting any takeover offer (forget SOU - they are cheeky. they dont have capital for high offer anyway, - i am expecting offer from larger players)
then offer at 6p minimum?
am surprised many have sold EDR. have they now moved to EOG expecting North sea drilling?
news today is positive as Seritza is willing to extend and will further restructure the loan. they know chinese will get funding and as such, they will get better return by extending the loan even further down the line.
today only a handful of trades, low volume, and yet we are down massively.
CEO /director invested alots and they have lots more to lose. am happy to continue holding and will wait. wish i could top up more at this ridiculous price.
luckily am already out last mth from here. its very risky.
better invest in low mcap producers like ANGS which waiting for takeover offer, or UOG and EOG, both are producers with low mcap sub 20m
88e mcap still too high at the moment, with no revenue
with rumours on placing for RBD is doing its rounds, will there be any placing for UJO too? WN will be very costly and even with revenue from Wressle, we may need to raise some more unless if we want to wait till much later the year for anything to happen at WN ? any thoughts?