Member Info for Ja51

ocelot
But if the OGA don't sign off they have to pay it back!!! Catch 22 again?

True! But the OGA won't count it in their calculation formula I would suggest. Have a look at the link I supplied earlier. it gives all the formulas they apply in their calculations.

Ocelot
The OGA has not signed off on the deal yet! That money would also be ringfenced as the RNS states should the OGA sign off the deal.

From the last RNS relating to Saltfleetby
The report supports the Company's third-party quote for decommissioning all of the wells at £1.75 million. This amount, taken together with a site remediation estimate of £0.75 million, brings the total potential gross liability to £2.5 million as was originally expected. Should the Company be successful in its application to the OGA, as referred to above, it would also need to agree an abandonment programme and associated cash reserving with the OGA at that time.

https://www.lse.co.uk/rns/ANGS/angus-energy-plc-saltfleetby-update-cua21oswrdpgsqy.html

Half-year results stated they had aroun£0.95 million in March, add to that the £3 million placings money. Lets say £4 million to be generous. They lost £2,6 million last year with far fewer assets and mouths to feed. It's fair to say with cash burn from march they will have around £2.5 million left being generous. Deduct Ring fence de-commissioning costs for the assets they do have OGA permits for and you have, and you have a figure that I would suggest the OGA would feel is insufficient to grant any further licence given the fact they have no income coming in or likely to for a considerable time.
So they will need to be looking for financing as we speak to gain further OGA permission I would suggest!

Ocelot
Its catch 22. The OGA won't give permission for either site until they are satisfied that Angus will be able to operate financially until either site proves profitable. (which in Balcolms case is years away! ) Will they be able to raise the finance without the approval and given that the last placing was at over 4p what sort of a discount to today's share price what sort of a discount would it be at?? That's without the massive dilution that all shareholders will be faced with IF they can get finance.

So you are 100% correct in your statement!

YL The OGA will insist on sufficiant funding being in place before issuing a permit for Saf or Balc.

(i) Issue of additional share capital:Details of the proposed (private) share issues should be provided, together with documentary evidence that (a) the funds are available and have been irrevocably committed to the share issue by the investor(s), or (b) the share issue has been guaranteed/underwritten by a recognised financial institution or stock brokerage (future share issues will not be acceptable without such evidence). Arrangements with financial institutions or stock brokerage firms in which they undertake to raise equity on a ‘best efforts’ basis will not be considered as adequate evidence of funding.

https://www.ogauthority.co.uk/media/5003/financial-guidance-august-2018.pdf

Quadrilles response to the 7 day we’ll test.

Francis Egan, CEO of Cuadrilla, said:

“We are encouraged by the results from two initial flow tests of the Balcombe horizontal exploration well. Further analysis of the data collected will be carried out, and potentially further testing may be required, to finally determine the commercial potential for the site.”

Angus Energy joined the existing Cuadrilla / Lucas partnership through the acquisition of a 25.0% interest in UK onshore licence PEDL244, which includes the entire Balcombe Field discovery in West Sussex, earlier in 2018.

Seems they were hardly ****ahoop with the results!

YingYang
I think Mirasols post was less to do with fracking and more to do with the fact that Quadrilla and AJ Lucas hold the remaining 75% of Balcombe!
I refer you to my previous post!

Eurofil
"If you are invested here your only enemy is the de ramping greedy day traders"

I think you could add a few more enemies than that! The SCC, WSSCC, OGA, EA, HSE, Pump and Dump crews, Legal Action groups, Death spiral finance, Local residents, Climate Change protesters, Green Party MEP,S, but most of all the company's own Board of directors!

Good luck though!

Rx
Thanks for your reply earlier. I was going to leave it as its been widely covered today and I've had a power cut.
That was until I noticed that RA confession had mysteriously been deleted!
If it is indeed genuine I wish you all the best. I would also make you aware that your, Alan2017 and Real Analyst,s history are on LSE for all to see including a defence barrister should it come to that. For that reason alone I won't be joining your action group but again good luck with it.

O and Wealdpwr ........you can tread as lightly as you like but your clogs will still tap mr Vonk!!

So You wont tell either Snr Alan.........lol

Crickey indeed....what's so difficult in giving the name of the No win no fee solicitor who would be happy to take this case on knowing What RealAnalyst has himself admitted?
I started posting with my misgivings around the same time as RA states he sore his QC in London regarding Lidsey and have stuck to my principles and beliefs constantly since. RA, on the other hand, thinks its perfectly acceptable to switch his position still apparently knowing it was a con all along and tell other investors its massively undervalued constantly (His History is there for all to see) to try and recoupe his loses!

I asked him several times for the information regarding the no-win/ third party funding legal team. This was as I knew his past history and wasnt and still, am not convinced this is genuine!

Far from being a BOD stooge, I want them prosecuted as much as anyone. all the evidence is there in the public domain for the relevant authorities to see. Carma will find them in the end and possibly sooner than we think if the OGA start relinquishing the licences due to funding or just a lack of trust in this shower of sxxx.

As you are allegedly part of the group action can you tell me the name of the no-win/ third party funding legal company to put my mind at rest?
Surely they would have been in contact with Angus by now?

RA
I would love to take what you say at face value.
However, you fail to mention that you previously have talked on this BB board about taking this action have you not?......... About a year and a half ago as I recall? You may remember it as it was around the time that your star witness Snr Alan2017 outed you and then ridiculed you for losing your pet chinchilla!!!............... Ring any bells??
So you went from Talking to a High-class London QC and taking Angus to task back to supporting the company and constantly stating its ridiculously underpriced...blah blah blah. and then back to a class-action lawsuit? (Is it no win no fee or third party funded by the way?
Not really the actions of someone i wish to give my personal details too without good reason!
I really do hope you are sincere in this action group but please give some detail of your legal counsel (you are not breaking any rules in doing so ) otherwise people will like myself are not going to take it seriously including the BOD I would think.

RA
You will understand that I'm slightly cynical off all things concerning Angus, and too large degree posters on this board (yourself included) You were one of the biggest rampers on here! Remember your memorable "May God strike me down statement"
Some of the names on your list have been some of the most bullish on this board and have locked horns with myself and reported any posts they don't like. At one point posting an alternative point of view during the week became pointless as they would be reported on mase and removed, including reports by members of your group by there own admission.
For some on your group to do a complete reversal and yet still call people trolls for apparently now sharing their view is concerning.
So please excuse me for being a bit cautious of joining a group who include someone who mentioned using a 9mm!!!
I would simply like to check the validity of your group by checking the name of your legal counsel before making my decision.

Why do you not wish to disclose the name? It seems a perfectly reasonable request?
Yes I have held Angus shares.

Thanks, RA
Can you tell me the name off law practice you have engaged, please?

Alan2017
If you can give me the name of the Law firm that you are giving your expert evidence, I would of course apologise. I may even be tempted to look into joining! (no rules would be broken)

Would you consider apologising for calling me a troll when I have been proved correct in my long-held view the company is/was at best devoid off morals and incompetent at best, and at worst possibly bought to task by the courts for sailing the wrong side of the law!

Renagade
Still only a D: ..........but really wish I had been a B!!

Are you still pumping and dumping? Its the only reason anyone would have posted as you have on the long ride down 38p to a penny???...........or maybe your on/or used to be on the BOD? only other explanation.

I CALL Bxxl Shix there Alan!!
"I'm actually helping with the legal proceedings with my oilfield knowledge" Your as guilty as the BOD with your outrageous 1000's of barrels predictions!