Member Info for JD-Nau

Yanis - the FSP was for the sale of Angus the company. This process is now closed but as they specifically state in the RNS today they still have two offers in for part or all of Saltfleetby the asset and they are in negotiations about this at the moment. Whether these come to anything or not remains to be seen, but personally I hope that they do not as I think that Saltfleetby is more valuable to us producing gas than it is being sold for cash at the moment.

nhawan - you clearly have no idea how asset purchases work. A potential buyer makes an offer and then, assuming that the seller is happy that the offer is serious and are willing to consider selling at the right price then the two parties negotiate until a suitable price is reached or the offer is rejected. Angus have informed that market that there are a two offers on the table and we should not expect any further announcements until a conclusion is reached one way or another.

nhawan you do realise that the BoD only have to do a formal sales process if there are offers for the comapny, not just offers for the asset.

They have already announced on Jan 6th that there were multiple offers for the asset, and they have reconfirmed in todays RNS that there two parties interested in buying the asset.

So your claim that there are no other offers is provably both a deramp and a lie.

Lady of AIM seems to have the inside track on a number of different companies and she is definitely not wrong that the Sound Energy offer was a total dog's dinner. Their market cap is only twice ours and they would have had to pay in shares for almost 50% of their current market cap. There is no way that the shares they would have issued would every have generated us the cash that the deal was worth IMO. It would have been at least 20% less.

We have had a very lucky escape with this deal IMO. If Lady of AIM is right and there are other offers out there we should demand that they pay in cash or nothing and the price should be a hell of a lot more that £15 million. With gas prices where they are now then we could make that in a year if we stick to operating Saltfleetby ourselves.

RT3003 can you share a link to the twitter that identifies the swampies please. I would be interested to see if Alex Shorts theories match my own.

Its fantastic news that the production is stable and also fantastic news that we are fully funded for the WR-B1 sidetrack – you know the one that you claimed yesterday that: “The overhead is huge so I doubt there is enough in the kitty for more drilling.”

Once again Geowiz your every statement about Block is proved wrong.

Speaking of the Scotch twits I noticed that some of you were discusssing who out of the Scottish contingent had been selling out. If any of you had bothered to do any research you could have easily found out that it was Frazer Lang and GP Jersey - just look under the significant shareholders section of the Block Energy website.

It does beg the question of why Frazer has sold out from above 5% down to below 0.07% all without filing a TR1 but then the Scottish mob always did appear to think that rules were only for other people so I don't know why it should come as any real surprise to those of us who have watched how they operate.

Some Scots to Scirocco took a trip,
In order some assets to strip,
Then they tried it with Block
But PI’s put a stop,
To the horrible, ghastly Scotch twits.

The fossil fuels sector is down 0.52% today so I am not sure how you can claim that all O&G firms are doing well at the moment?

The next sidetrack will prove once and for all whether they have "cracked the geology" regardless of what any trolls on this board say.

Everything here is looking amazing - cash flow positive, oil prices going up, successful sidetrack already drilled and another on the way to be paid out of production.

So why do you think that share price is not going up?

ADM are not a threat. They are broke and about to go bust. The amount of money that we paid in bond repayments today is more than their entire market capitalisation and we still have enough money left over to be fully funded for both our Tunisian drills.

Florida is right – Ageos explained it on here the other week if you want full details but basically the oil produced is sent in a mixed blend by ship to a refinery so the ship can only be ordered when there is enough oil to fill it. The oil is not just from Zenith but from all of the companies that ETAP is involved in, but it still takes time to get enough to fill an oil tanker. Ageos explains it in detail in his November 25th post if you look in his history.

Yes it should increase after they do a sidetrack. From what their geologist was saying they went in to a low density fracture network which is why it is limited production. If they go back in and target a higher density one then they would expect higher flows. This is assuming, of course, that they now correctly understand the geology. Whether they do or not will be shown in by JKT1. If they make this flow then they understand the geology and the sidetrack will likely be successful. If not, then there is no reason to assume that the sidetrack will be successful either.

Accumulate now. This is definitely goiing to be the last chance at these levels as the different the new CPR makes is massive.
Choo choo!

This is massive. A 50% increase in the value of the reserves at Saltfleetby.
Poundland is going to make us millions!

The deramper gang have spent the last few months saying what a big problem that this £1.4 million debt was when anybody who knows anything about Angus knows that Knowe are friendly to the board and were always going to roll over the debt repayment until Saltfleetby was making millions.

However this didn’t stop you them from trying to suggest that Angus would have to raise a huge a dilutive raising even when this was never going to be the case. Laughably, they are even still banging on about dilutive raisings after the debt has been rolled over. Anything to keep posting negatively about Angus hey?

The new idea that they are espousing about Knowe forward selling their shares is equally preposterous. As has been pointed out they would have to make an announcement after selling 2.5 million shares which is only £25,000 worth. It is not going to happen and if it did then we would know about it instantly.

Once again the derampers are pushing fake news to try and damage the investments of others here. They have a long track record of doing this going right back to the days of their Anti-Angus-Action-Group who promised that they were going to sue the company for millions and failed dismally.

However, we all see these false interpretations nowadays. Remember the claims that the sidetrack would take 16 weeks; that the lenders are forcing the company to drill the sidetrack and that Saltfleetby could only produce 2.5mmscf per day? These were all claims advocated by the deramper group and they have all been exposed as false accusations just as these latest ones will also be.

Whatever the deramper group claim, saltfleetby is going to come online soon in an era of stratospheric gas prices and it is going to deliver Angus a cash-flow of millions.

There are several false narratives about Saltfleetby that are being peddled by some poorly researched posters as fact. So there is no confusion as to what they are the false narratives are as follows:

1. The Sidetrack Will Take 16 Weeks– The claim has been made that the sidetrack will take 16 weeks but no evidence has been offered for this. It would appear to me to simply be a conclusion that has been come too by assumption – ie some poorly researched person has gone “there are four months between February and July therefore this must be the amount of time that the sidetrack will take”.

2. The Hedge Needs The Sidetrack– It has been claimed repeatedly that there will not be enough gas production to pay for the hedge without the sidetrack. However there has been no evidence offered for this other than the OPINION of a single poster that the hedge must relate to a volume of production and that this volume must be 10mmscf per day.

3. The Sidetrack Is Complusory – It has also been claimed that Angus will be forced to drill the sidetract by Aleph / Mercuria etc as otherwise it will “cost them millions”. This is clearly nonsense as all they care about is their debt repayments. The sidetrack is a total irrelevance to them as long as they get paid.

4. That OGA Figures Show Saltfleetby Can Only Produce 2.5mmscf Per Day – This is a claim made by looking at an average of OGA figures when the field was not producing dee to technical issues. They even put this to the company on the website Q&A and were dismissed with the response that: “the actual deliverability now will exceed 5 mmscf/d.” However, these obviously false facts are still being peddled.

Please ignore these particular false bits of information. They are being peddled by those who are incapable of accurate research.

These same people used to claim that the project was unviable because the gas price was too low. Now the gas price is high they have come up with completely different reasons to cast doubt on a project which is clearly going to make millions.

GLALTH and be aware of those on here who only speak negatives no matter how good the news may be...

Mirasol – I am an investor who has been invested in Angus for years as I live quite close to one of the company’s old Weald sites. Under the old management the company made many mistakes but I am sick of this coterie of old investors who cannot move on and who have decided that because Balcombe didn’t work and they lost money by investing at a ridiculously high price that that they can make up any lies about the company that they choose. Why should they (and I include you in that) talk my investment down. Saltfleetyby is not Brockham and some red/black gamble it is a sensible grown up cash-generative proposition. The move into geothermal also shows that the company have got an eye on the fashions of the future. I like where it is going and am not going to have a bunch of morons lying to deramp the company just because they feel that they are owed something because of their own poor investments. I lost money on Brockham too, but I don’t cry about it and I have worked hard to get it all back. I have put more money in here and stand to make a lot of cash when Saltfleetby takes off and the market recognises what Angus have got. No doubt you will just carry on sitting there are calling it poundland even as it generates tens of millions per year in cash flow.

DoneK – exactly. None of these statement from them makes any sense. When the gas price was low they said that the company would never break even. Now the gas price is high they say that the company will not be able to make any money out of it because the mysterious backers of “the hedge” will not let them produce oil when the price is high.

They also claim that everything that is said in the CPR is nonsense and that they know better about everything. The worst part is that they keep repeating the lies until some people start to believe them. However, as you have noticed today every time I question them on the detail they can’t answer – because they are just making it up and hoping nobody notices.

I have no ****ing idea why they are doing this either. My best guess is that they are old investors who got spiked out years ago and are all angry at having lost money in the past . They are also probably associated with that Anti-Angus-Action-Group set of idiots that were on here years ago promising that they would sue the company and get everybody’s losses back with a backer who would pay for it all. Several years on and we see clearly how that little fantasy shattered on the rocks of reality. It seems like many of the old derampers have had their identities banned, but many of the newer posters here post just like the old ones used to. They are like a dog with an old bone and just will not give it up. I would not mind but their own selfishness is costing me money, so I am not going to put up with it any more. I am happy to have a sensible discussion with those who have their facts straight (even if I disagree with them) but not with those who just lie all of the time - them I am going to call out.

WG818 - You have started badly and got worse!!

Everything that you have posted today has been PROVED to be nonsense. You are unable to answer any questions on your research because you haven't done any, you are just relying on " a bloke on twitter told me".

You are an embarrassment to the Incompetent Persons society. Or maybe not.

A new question for you since you have been unable to answer any of the other ones - where do you get the evidence that Alpeh are involved in the hedge? A nice simple link to the document will do. Or will this be another example of your inability to justify the claims that you are making.?

tick tock...