Member Info for Ja51

They should have read the CPR and not believed yet another flawed and misleading RNS then!

AEWB is carrying a range of capital cost estimates to achieve First Gas before January 1st, 2021. Table 6-1refers: Low: £1.83m, Most Likely: £2.79m; High: £3.81m, of which £2.5m is payable by Saltfleetby Energy (or £1.83m for Low case, leaving a balance of £0.67m for 2021 capex). AEWB estimates the cost of a horizontal sidetrack to well SF5 in 2021 to be £2.36m, which will be split 51%/49%AEWB/Saltfleetby Energy, except in the Low case where AEWB would contribute £0.86m: £2.36m-£0.67m = £1.69m of which 51%= £0.86m.

Page 46

http://www.angusenergy.co.uk/wp-content/uploads/2020/03/Saltfleetby-Gas-Field-Competente-Persons-Report.pdf

For our newly locked in posters, i suggest yo have a look at the Q&A Page for some answers.

http://www.angusenergy.co.uk/media/investor-questions/

Because the money remaining is the £2.5 million they were given to De-commission Saltfleetby, Dont think the OGA would be to happy with them doing that!!................A placing at 8p.....LMFAO

At the same date cash at bank and in hand on 27th Jan 2020 was £3.5 million of which £650,000 is segregated reserving for eventual abandonment at Brockham and Lidsey. Most of the balance of £2.85 million free cash is being held to meet new and ongoing capital expenditure commitments at Saltfleetby and, to a lesser extent, at Balcombe, both of which projects remain within budget. (I have swapped Feb for Jan as they even got the date wrong!!!)

They burn through £250,000 a month on any measurement.....Look at the accounts yesterday.

All we need is realanalyst back doing another u turn and it will be like old times!!

3. Profit for the financial period


Most important paragraph from all RNS and pump on dump here today!!!
The Company has taken advantage of section 408 of the Companies Act 2006 and, consequently, a profit and loss account for the Company alone has not been presented. The Company's loss for the financial period was approximately £8,414,000 (2018: £1,850,000).

Just a reminder !
The terms of the Facility agreement stipulate, for as long as any portion of an Advance is outstanding, neither the Noteholders nor any of their affiliates shall hold any net short position with respect to Angus Energy ordinary shares and they shall not, during any calendar month, sell greater than 20% of the number of Angus Energy ordinary shares that have traded during such calendar month.

Take away 3 from 2 and see what you get!

Yes for "SALTFLEETBY "to which the report is about!
The Angus group costs Circa £3million a year....Read the other RNS posted this morning it's all in there!

http://www.angusenergy.co.uk/wp-content/uploads/2020/03/Reserves-Resources-Valuation-Report-Angus-Energy-Saltfleetby-Assets-Effective-Date-28th-February-2020-Report-Date-4th-March-2020.pdf
Page 51
loss expected this year 2020 £2.1million
Profit next year £2. million

mmmm........the company costs £3million a year to run according to the conveniently "early" released RNS this morning.
Not a problem except they have no other income!

DYOR.

Speaking of tenuous links. I see Rupert L has upped his stake over at Prim as BUTD can testiffy!

LOL......... and r on right on queue RNS number 3

Ocelot....LOL the fundamentals have changed today agreed.......... But not for the better!
This is just pump and dump and the cold light of day will dawn on people soon enough!!

The Group recorded a loss of £5.043m (2018 a loss of £2.790m). For the year under review, the administrative expenses increased to £3.976m (2018: £2.230m). This increase is due to the impairment of the Group's carrying value of its interests in the Brockham and Lidsey Oil Fields and increased corporate and operational activity.

Im being generous when i say £3million ocelot. Even on the spun best estimates of the company they are still losing money!

Ita a funny old game.....2 RNS,S issued. one telling you the company needs £3 million a year to operate and another telling you the main asset will bring in £1.8 million a year over 10 years and no other discernable income the price go,s up??
And that's with a long delay and the costs involved ..............strange times.

Its 300 barrels according to the company themselves xyz and only 25% to Angus....You have been here long enough to know this!

Still here watching the pump and dump!

BUTD
This was always going to be the issue though. How would that benefit shareholders other than not creating more dilution?

BUTD
It may not be a problem but it will still be required!

I would suggest you all take a look at the presentation again and then ask yourself what the CPR actually tells you.....apart from the seeming drop in figures.
http://www.angusenergy.co.uk/wp-content/uploads/2019/12/Saltfleetby-Gas-Field-Dec19.pdf

O you did read it then......Lets go in the middle then and say still a £1 million they need to raise.
You did ask if that was the best if second £1 million pound second-hand equipment was the best I could do!