Member Info for Jamesthesecond

I am accumulating. Angus is trading at 50% discount minimum to its asset value . Cash cow delivering £££s. No brainer at all.

It could be multiples of things Baits ,maintenance, installation of permanent pipework, testing etc. It would be ridiculous if company was to RNS day to day activities. It would be more interesting if we could have daily time sheets of GL to see how much time he spends in actual work, confetti planning and manufacturing plus distribution of BS.

Could not agree more MP0818

Singhie- Spot on.

Lidsey has been a dead duck for many years and worthless and GL keeps talking trash about possibilities. GL could have spent £2 million to develop it but did not and was seeking partners to mitigate risk. No takers as its a pile of rubbish.

Brockham remedial work does not cost much in money and time but GL has been ignoring it for past 3 years.

Balcombe - no time spent . wasted energy.

SFBY- millions of excessive spending-missed deadlines and finally we have a successful side track.

Geothermal- tonnes of management time on a pie in the sky trash and God knows how much money and no wonder SFBY ended up suffering via missed deadlines and overspending.

Hopefully, GL and crew are no longer in charge and the new CEO can throw out all the trash GL & crew have been promoting to fund their lifestyles. It seems going that way.

I agree with paying down debt in an organised manner, stop confetti for good as that is not the way to grow the company and the BOD need to learn to walk before they start running. I am under the impression that other major shareholders are also of similar views and hence have brought the change via the new CEO. If GL was in charge, there would be non stop confetti to feed his incompetence.

Gl & the CEO expressed wishes to buy shares as they were grossly undervalued. and we are not in a close period. Its even better value now. Lets see how that pans out.

Can we please have an updated Saltfleetby Reserves Valuation Report. Now that the side track is complete and further commercial gas reserves confirmed, there must be a significant uplift in value.

The company is set to make a profit of £24 million per year out of a single asset and its total market cap is £48 million. It should be trading at 5 times at the very least irrespective of who is buying or selling. Its a question of when the fundamentals will prevail and not if. All the company needs to do is keep milking the cash cow.in the most optimal manner and it is doing just that.

I think/speculate that the "maintenance" is actually disruption caused by installation of permanent production facilities. SFBY is a small venue and systems have to be switched off for health and safety reasons why works going on.

SFBY is a cash cow and will be on the radar of many. There are some decent buys but there have also been huge sells and we don't know where those are coming from. It may be one of the significant shareholders . Either way, more cheap ones for us. Time to buy is when all are losing their heads selling and fundamentals are very strong. I am topping up regularly on falling price as I expect the fall to reverse at some stage ,hopefully, with a vengeance. I have never been more comfortable with my holdings.

There is no scope of dividend or share buy backs in the near future. That was standard GL BS. Money has to be applied to pay down debt in accordance with agreements ANGS has entered into and strengthening the balance sheet. Thankfully the debt is not massive as some of it has already been paid off via GL confetti. Let the £££s do the talking and that is inevitable.

Producing some 104,000 therms a day plus 120 of condi per day via temp production lines currently. Hedge liabilities exceeded by a mile. Another increase in production will come through via the permanent facilities and additional clean up for the ST. Gas prices will rise come autumn and the cash cow will keep delivering £££s.

Accumulate while these are cheap.

7 million seems to be a BUY considering the prices at the time.

The fundamentals can be ignored temporarily due to day traders etc but they always rise eventually. Milking has begun and optimisation will follow. Market cap around £200 million is coming soon. Accumulate while you can IMHO. GLA.

There is no buyout/takeover so far on the horizon as far as BOD are concerned .When one emerges it will be dealt with at that time .

SFBY is now a project almost fully completed and operational and has turned into a CASH COW. The milking will be optimised in the coming weeks and certainly ,come autumn, there will be £££s flowing inwards. Debt is now very manageable. What is the worth of SFBY? The answer lies in the gas/condensate sales achievement over the coming months PLUS its value as a storage.

SFBY is worth £300 million any given day, with production firmly established. That does not take into account its value when it is converted into a storage facility. BOD plan to extract maximum gas as fast as possible is obvious and then move on to conversion.

It has also been made clear that the funds will be applied towards strengthening the balance sheet , mainly debt repayment and cash reserves. The balance sheet will go rough a huge transformation now as production goes up. Deferred tax asset will be recognised and the massive "hedge liability" will be eliminated. Both accounting adjustments are only possible with confirmed gas production., which is now a reality.

Its annual overheads are running at £3.5 million. See page 45 of company accounts. https://www.angusenergy.co.uk/wp-content/uploads/2023/03/Angus-Energy-Annual-Report-2021-2022-1.pdf

Its total liabilities including loans are standing at £27.125 million (page 46) and some of these loans have been paid off through placings subsequent to balance sheet date. Net debt is £18.97 million note 27 on page 75.

Note 32 talks about placings which raised about £9 million to settle these debts .

Net debts were 18.97 million less 9 million raised plus 3 million overspend =£12.397 million which will be paid off rapidly from increased cashflow .

in simplest terms 300 million therms @ average price of £1=300 million less debt of 12.3= £287.7 million enterprise value today. Deduct the tax liability and we are looking at around £200 million net of tax. This equates to 5 pence per share with full dilution form pending warrants. No account have been taken of legacy assets , condensate sales etc or uplift for storage.

The interview made it quite clear that there will be no RNS as both compressors coming online are imminent and visible daily via national grid data.

A very positive interview

Directors believe that share grossly undervalued and will buy once Nomad clears the purchase.

both compressors to start producing is imminent while they balance the wells. No RNS as data available daily from national grid.

Conserving capital and building balance sheet .

Plans to exploit SFBY fully. Seems going for increased production rapidly to extract maximum gas before turning to storage.

Most important no BS and straight forward humble answers .

We n only go upwards from here.

It should be today

This is the week when both compressors should be switched on. Lets those ££££s flow.

It is a matter of fact that the side track is producing and therefore a success. The company has clearly stated that it intends to deploy both compressors on the 10th May or very soon thereafter increasing flow 0f ££££s gradually.
I believe that this is not the time to be out of this share but accumulate on any weakness as all material risks are eliminated. A temporary glitch,such as more clean up or balancing the wells etc, should not be seen as some sort of failure but a routine exercise.
The rewards we have been waiting for are extremely close and those viewing it with shot terms lens may miss out.
I fear "squandering of success" on geothermal etc far more than any short term technical glitches. The company should focus on strengthening the balance sheet , rewarding shareholders, before embarking on their plans. Its by company's own admission that it can barely manage one asset at a time . Focus should be on developing legacy assets and make £££s flow IN and not outwards. Work on Balcombe, Brockham and Lidsey should not cost more £1.5 million a time and each job is not stretched over several months. Make these assets perform at optimal level and if these do not fit in the portfolio, sell them and use money wisely.
GLA

£££s will be flowing in the next few days. SP will be flying north.