The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I strongly believe that they are deliberately delaying Brockham so that they can release gas acquisition news to try and support the SP in the case that Brockham doesn't deliver as expected. If my interpretation of the most recent RNS is correct it wont be until end of July before stage 2 is completed. Also...
"Once this has been completed then, subject to agreement of partners"
Hope it doesn't take them as long as before to 'get the partners together in a room' and make the decision.
rxdav - Looks like its going to be a waiting game for Brockham. Hoping gas acquisition news comes in sooner rather than later and hope its welcomed positively by the market as well. I want to say I don't see much downside with the SP from these levels but ANGS hasn't failed to surprise me when it comes to that.
Unfortunately have to agree with Wolf regarding failure not being priced in... I'm still trying to interpret what this statement actually means:
'preparatory operations for the second stage will commence on the week of 17th June 2019'
From my understanding, the initial step of the second stage was to order the test equipment. Does this statement mean that they will be ordering the test equipment on the week of 17th June 2019?
The lead time for Well Test Kit was modified in the most recent presentation (Dated 30th April 2019) from 14 days to 18 days (page 10).
"Immediately after the completion of the events above the rig will be demobilised and the well-test kit will be ordered for delivery to the Brockham site. This is expected to take approximately 18 days"
http://www.angusenergy.co.uk/wp-content/uploads/2019/05/AE-Investor-Presentation-April-2019.pdf
We received notification that the rig was successfully demobilised on 10th May 2019. Based on the above, assuming that the partners meeting has taken place and the well test equipment has in fact been ordered 'immediately' as stated above, we should be receiving the equipment by the end of next week maximum (catering to working days and approximations).
I don't like to make assumptions, however, due to the lack of transparency regarding the outcome of the partners meeting and confirmation that the well test equipment has actually been ordered, it is difficult not to... Looking forward to confirmation of the above from the company in the coming week! As far as I am concerned the fundamentals remain to be the same IMO, In the meantime, will just have to sit by and hope the share price doesn't drift to much further into the abyss... GLA
rxdav - Your posts have given me a laugh over the past few days, nice to see some humor on the board.
lejjb - Spot on... A good balance of TA and market research combined with a tailored trading strategy significantly reduces risk, something that I have also learned the hard way (specifically in AIM) and still is, a work in progress.
Mr008 - I'm genuinely interested in understanding your thought process regarding MM manipulation to purchase the OO at 4.25p. The current share price is significantly lower than 4.258, so like any investor, why would they want to purchase at a higher price when they can get them cheaper right now?
SILAS242 - Great well balanced post.
Alan2017 - Couldn't agree more, although, I might have been partially responsible for that by announcing Mays resignation
Signing off for now, hope everyone enjoys the bank holiday weekend and we all come back to a positive turn of events next week. ATB
The price indicates it was a sell but the buy price and the sell price seemed to tick up immediately afterwards... Either way, could not resist another top up with the bank holiday weekend ahead.
With Brockham, Gas acquisition update and Balcombe operations schedule all to come within the next 2 months its difficult to see much more downside from these levels. GLA
E_AL - Although I agree re spreading panic, I think the last statement should be directed at the BOD...
'I know that we are all frustrated and bored from waiting but could we please stop spreading panic among the share holders .............'
There should not be room for assumption, all it takes is a clear and concise communication to the share holders. Also in the second interview, GL states they will bring the test equipment on site 1-2 weeks after the meeting has taken place. Paraphrasing on the above but pretty sure about the 1-2 weeks bit. So which one is it?