Member Info for Jamesthesecond

yanis- the real complaint which can not be ignored by anyone is that of outright deceitful and fraudulent conduct of the BOD in failing to disclose the cost escalation which was 3 times the value of company total market cap at the time. Gl and mates conducted a mass fraud of not disclosing to shareholders the cost escalation and not disclosing seeking £12 million loan funding. And this fraud is inadvertently admitted by BOD in official RNS. the entire BOD should be disqualified to act as a director of any company. Wil they go to jail? I doubt that very much.
The final furlong saga will may have a few miles to go. I am very confidently suspicious that the matter of finance is not completed solely due to sheer incompetence, gross negligence of GL and his delinquent colleagues at the BOD. As usual there must be a major failure on their part. Even the most complex of debenture documents take no more than few days and agreements of this type don't take 6 months. Its best you make a complaint about deceit ,fraud which is proven and beyond challenge. If companies house bars the delinquents to act as a director GL will be fired without notice and without any juicy compensation for loss of office . FD and GL must be prosecuted by the regulators and other authorities. Frankly what is shocking is the auditors. The annual report is full of errors. Go for it Yanis.

Page 8- Angus was meant to complete short stretch 10" steel pipe in Q1 2021. (page 8 bottom). well we know GL failed. then testing and commissioning will begin. Lenders may want to see Angus achieving this milestone before parting with money!!!!of course its not a road block. Its incompetence of GL and BOD that they cant do any work .

the processing plant ,£6 million, odd can be procured via lease/HP and angus can charge extortionate rates to S Energy. The gas revenues can fund the second well. Again, the company can charge S energy . That's why I have asked the question that such extortionate funding is not needed as we have already incurred most of the costs. GL and the company is being disingenuous. All of this should have been done and dusted. GL and BOD expertise is to make a mess and FAIL and award themselves extortionate salaries.

The BOD led by GL have lost all credibility. Incompetence, deceit garnished with greed is evident. SFB development seems to be in a deep freeze with the occasional update of buying a nut/bolt classed as procurement of equipment.

a small trickle of blue !! GL and crew awfully quiet.

Fairly accurate assessment G.

angus energy will be a member of any/all UK laundry business. thousand curses on the BOD!!!!

Periodic auction calls. cant buy many at a time. bid is now 0.82. is something finally happening?

GL is not taking the p**s. He is delusional ,pis**d

new bid is 0.8. tick up coming. still no news.

Nobody believes the delinquents at BOD. GL should take a bottle of the finest brew and raise his spirits all the way to hell . patience was exhausted long time ago. cant curse the BOD enough.

25th January 2021 RNS "Legal and corporate due diligence is being conducted in parallel with the drafting of the loan facility and security agreements, with the objective of concluding the documentation in the coming two to three weeks, with drawdown shortly thereafter following the satisfaction of the conditions precedent, standard for a facility of this nature."

22nd February 2021 "The Mandate includes a 45-day exclusivity period for this joint financing effort until 5 April although it is the stated intent of all parties to conclude legal documentation, perfect security and satisfy conditions precedent, including, inter alia, regulatory approval of the Field Development Plan by the OGA, consequential amendments to the Farmout Agreement, the Joint Operating Agreement and the existing Knowe Properties Loan Note, with a view to making disbursements during the month of March.

29th March 2021 "The Loan Facility terms remain substantially unchanged from those advised in our RNS of 30 November 2020. Angus is preparing charges to be registered and working to satisfy the conditions precedent set out in the Loan Facility Agreement in view of signing the Agreements and receiving the funds in the near term."
30th April 2021

We are still meeting the requirements and enjoying the weather. we expect to conclude in the short term as only few thousands yards still to travel. We are experts and want to ensure that that extortion racket continues uninterrupted. For more update please refer to Ocelot posts and our meaningless RNS.

Its all BS. Define imminent. Define near term. Define final furlong. draw down in January then March. Ocelot- get your head examined before posting proven lies.

there is no good news at the moment and the timing of financing is being stretched in reverse gear. From imminent, it became latest March to "near term" implying an even longer time frame. Ocelot- you need to learn English just like the people in the BOD who got off a boat. Gl can stuff the whole "final furlong " up the entire BOD staff including himself.

In brief, GL has made a mess of things apart from being deceitful a year ago about cost escalation. BOD expertise is to make a mess of everything that is simple. Is that not the case with Lidsey as well?
The financing may be complicated but the £12 million is not needed when we have already done the most of the work. The financing is to ensure that the BOD keep extracting extortionate remuneration for making further mess ( may that be geothermal). The plant could have been acquired via a hire/lease purchase and all those placings could have funded everything without resorting to missing production targets . Future gas sales could have financed further development. It is mess exclusively made by the experts in BOD led by GL. None will resign. Shameful, disgraceful and unacceptable.

its utterly disgraceful and unacceptable.

part of the financing deal, nothing new there, is someone will manage sales and loan repayments and perhaps that's what the new company is all about. Glad to see both questions published. More important now is a truthful answer. This financing is well beyond a joke now.

Angus is loaded with plenty of cash via placings to feed the directors for the next 18 months.

I share your sentiments. GL has FAILED miserably. He was deceitful a year ago when he withheld severe cost escalation in SF project. He refuses to explain why funding is needed to the tune of £12 million when bulk of the costs have already been incurred. The odd announcement of procuring equipment is probably a acquisition of nut and a bolt! ESG is load of trash and waste of resources. Lidsey in particular is utter nonsense. we stopped production as oil price down. then the equipment failed. the nut and bolts required were not available. guess what, lets start the spin on Lidsey again and we missed the target and found a better target. complex financing does take a bit of time but not this much. It was meant to be January latest, then February and March and on each occasion the time line is becoming more and more ambiguous and lengthened.
Its all down to the extortionate financing and no one knows the truth other than GL lot which are proving to be utterly unreliable. Sf may pump gas end of this year, if we are lucky. The company and its management is forbidden to generate revenues and profits for its shareholders and its management is focused on pies in the sky and remuneration for themselves for regurgitating projects and non delivery.

looks like another big buy has gone through not reported yet. Bid is .86 for a million