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Appendix 1: Reasons for RefusalREASONS FOR REFUSAL1.The proposed development would represent major development in the High Weald Area of Outstanding Natural Beauty, for which there are no exceptional circumstances, and which is not in the public interest. There are alternative sources of hydrocarbon supply, both indigenous and imported,to meet the national need, there would be minimal benefit to the local economy from the development, and there is scope for meeting the need in some other way, outside of nationally designatedlandscapes.It would therefore be contrary to Policies M7a and M13 of the West Sussex Joint Local Minerals Plan (2018)and paragraphs 170 and 172of the National Planning Policy Framework (2019)
https://westsussex.moderngov.co.uk/documents/s15319/Plng_24.03.20_Item_5_WSCC07119_Report.pdf
https://westsussex.moderngov.co.uk/ieListDocuments.aspx?CId=166&MId=2032&Ver=4
Ocelot
It says it here....but we both know you knew that already.
"The Loan Note carries no interest and allows for conversion of amounts drawn down at the option of the holder at the lower of a 7.5% discount to the average of the 3 lowest daily Volume Weighted Prices ("VWAP") (over the previous 10 days) into shares in Angus Energy or, up to a maximum of 50% of any tranche, at a price equivalent to 130% of the 5 day VWAP prior to drawdown of any tranche. Absent conversion, amounts must be repaid after 12 months. Up to 20% of the outstanding principal may be converted into shares in Angus Energy before 31 December 2019. "
https://www.lse.co.uk/rns/ANGS/decommissioning-liabilities-and-associated-funding-28siphekl7rhw9t.html
Come on ocelot, i expected better of you!.................never been in aaog mazik, and yes we are all suffering in the market and each company has its own consequences from both Covid19 and the price of hydrocarbons.
Do a bit more research on those consequences regarding Angus before calling others sad, please!
Tor
I didn't lose!
I was robbed........When someone steals from you and they are not dealt with by the authorities let alone the company they work for/Run I will shout that I have been robed for all to hear!! as LOUD as I can to warn others..........But just as important to me to is to be a constant reminder to the Robbers!!!.......................as a bonus I hopefully lose immoral lying rampers a bit of money for good measure as well!
Tor How can you see it 9 bagging from this level?
Best case scenario from the figures they gave out on Friday would mean they would need £3.7million to get to production in October.....Worst case is £7.2 million if production started on Jan 1st.
They have Circa £2,5 million at present and that's the money Wingas/Saltfleetby energy gave them!! After reading the OGA guidelines i don't think they should be using that money anyway!!.....and that's on the company's own figures!!!
So best case they need another £1 million to get to gas with nothing left.
Worst case £4.7 million to get to gas with nothing lefft..........................and that's without Balcombe, add any figure you like as it really doesn't matter.
So i ask again how is this going to 9 bag with the amount of dilution they have coming.....or possibly not??!!??
The Company has today allotted 32,133,676 new ordinary shares to the Investors ("Relevant Shares"). Application has therefore been made for the Relevant Shares to be admitted to trading on AIM with admission expected to take place on 11 March 2020.
That's going to clip your wings somewhat!!
Stocksbof52
Did you not read the Q&A answer?....Angus are the first company in history to tell shareholders to be glad "THEY DONT PRODUCE ANYTHING!!"
Its an interesting spin ill grant you!
Our played out gas asset will benefit from newly uncommercial US gas assets by way of buying the second-hand production equipment.....the fact that US shale gas has become uncommercial due to commodity prices seems to have slipped their minds!
Months if not a year before they are ready to pump and sell as you should know !!!
all time low!!
https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=143399&span=2