Member Info for Mirasol

"suppose the aim of ’the other side’ isn’t to make zillions but rather to destroy the company"

Can you explain who will make a profit out of doing so? Other than those they owe money to or the other side of the hedge?

"I feel sure you will agree now Lucan has taken charge and those directors were fired "

The one who did the share deal, Jonathon Tidswell Pretorius, is still employed by ANGS Adrain as you know . Not surprising as it was him and his mates who inserted George Lucan as MD

Angus Energy Plc.Angus Energy Plc.
12 yrs 9 mos12 yrs 9 mos
Operations DirectorOperations Director
Jul 2018 - Present · 3 yrs 10 mosJul 2018 - Present · 3 yrs 10 mos
London, United KingdomLondon, United Kingdom
Operation director

"t love it when they keep posting because all publicity is good publicity ;P"

Except of course when you reenter the wrong well and one of your Directors sets up a shifty deal with some 20-odd year old Polish lady..............................

"20p a share would buy me a villa in France but I’m holding out beyond that."

Post of the week!!

"The company has the potential to be the biggest on shore energy supplier in the UK. "

Are you saying bigger than Wytch Farm??

I'll have some of what your having please...............

"It's becoming more clear to me that the CEO just has no real vision about where to take the company next."

Agreed - he was brought in to save the bondholders investment after Trice imploded. That appears to have succeeded , mainly due to the POO, so it's time to get in someone else

"Mirasol, please explain why you can't. Look at sp moves, are you sure?"

No-one has ever explained who will take the short and how you can do it on any small oiler, people can talk about spread betting and CFD's etc but evidence is zero. Also no one of the ramp squad ever claim to have made zillions by taking the other side of short.

"Is it looking as if the leak could have come from within the company, "

I'm shocked! AND surprised!!!

"Do you know what most of us on here call people who post on here about Angus every day for years , but don't own any shares ?"

If only Adrian, if only............................

"e George Lucan: I have wondered if Angus might not be interested to take a stake in Loxley (assuming the appeal goes in UKOG's favour), given they choose to take a 51%-stake in Saltfleetby and are now very close to first gas."

SFB was a shut-in field that had produced gas for years - and they were paid to take it off Wingas's hands

Loxley (or Godley Bridge) has only had two wells drilled into it one of which found nothing.

"Could someone clarify what the cost per barrel when producing is"

No - because we have no idea what the Development plan will include, what kit is gong to be installed and when it's going to happen. We don't even know the flow rates for any development. And then there is the POO at some point 2-5 years hence, and the interest rates, and the exchange rates. All we know is that Sam will be taking his salary and (probably), a bonus

"and says I am and idiot."

Wasn't us that posted a link to a comment on a planning application that included our names and addresses Adrain

"gut feeling says that there are offers on the table already for HUR to be taken out"

They'd have to be announced under the Takeover Code -

"yup im suspicious there is shorting going on, do not sell a single share"

You can't short these stocks - we all know that - this is like the MM excuse... the answer is no-one is buying

Lincoln would require a new well drilled this year . That's a lot of cash

They've never published much about the detailed results of the testing at Lincoln but Spirit obviously didn't like it enough to continue.

"It's worrying how many recommends some posts receive on here"

well we know the ramptastic crew have over 40 ID's on the shelf from the pre raise fest - so anything less that 44 likes shows the that resources are being deployed elsewhere I guess

Highlights

Financial results

· Revenues of $240.5 million from seven liftings of Lancaster crude (2020: $180.1 million from 12 liftings)

· Cash production costs of $28.2/bbl (2020: $17.9/bbl)

· Generated $135.7 million of free cash flow†, equivalent to $36.2/bbl (2020: $74.2 million, $14.6/bbl)

· Profit after tax for the period of $18.2 million (2020: loss after tax of $625.3 million)

· Net free cash† of $51.5 million (31 December 2020: $111.4 million)

· Net debt† of $27.0 million (31 December 2020: $118.6 million)

· Repurchased $151.5 million of Convertible Bonds at average price of 86%, saving $29.5m in future principal and interest

Operations

· Production within guidance with average daily rate of 10,267 bopd (2020: 13,900)

· Excellent operational uptime of 92.3%, covering planned and unplanned events

· Crude oil sales reached over 10 million barrels with 3.6 Mbbls sold across seven cargoes in 2021

· FDPA consent received allowing for production below bubble point

· Following unsuccessful farmout process, JV partners agree surrender of P1368(S) (Lincoln) licence

Corporate

· The Company's proposed financial restructuring was ultimately not pursued following the High Court Judgment that the restructuring should not be implemented

· In June 2021, the incumbent Non-Executive Directors resigned from the board, with John Wright and David Craik appointed to the board as Non-Executive Directors and John Wright assuming the position of Interim Chairman

· In October 2021, Philip Wolfe was appointed to the board as Independent Non-Executive Director

Outlook

· FPSO Charter extension agreed in March 2022

· Full bond repayment anticipated in July 2022

· Net free cash† of at least $60m projected following bond repayment, assuming production in line with guidance and oil prices of at least $90/bbl

· Focus on efficient capital allocation to deliver most value for shareholders

· Consideration of opportunities within existing portfolio and new assets

"Will be interesting to know more about these other options…."

That's Spirits "other options" - 3 countries, 33 producing fields

"was voted 9-1 in favour, Angus Energy have had their application passed by a majority of 8-2. Biscathorpe, potentially the biggest un-appraised hydrocarbon discovery onshore UK will almost certainly follow suit. "

over 20 conditions on Brockham

"These lefty councils seem to try to garner favour with the public"

Th e ones in the Weald & Dorset are all Tory