Member Info for ocelot

The leak of 19/05 was so on the money it prompted an RNS from ANGS very soon afterwards.

The leak said the RTO "Could be the start of something very big". In its RNS, ANGS confirmed that "Completion of this transformational transaction would represent a major strategic development for Angus Energy, with a significant increase in reserves, production and positive cash flow".

As Onetomany has indicated, the financing of the deal may include an effort by shareholders.

This would help to explain yesterday's proposed appointment of 3 new directors representing Forum, Aleph and management.

Note: the leak of 19/05 spoke of a "massive US oil & gas asset" whereas ANGS's RNS of that same day speaks of "a group of producing assets".

The leak of 19/05 spoke of a "... massive U.S. oil & gas asset, already gushing black gold. Could be the start of something very big…"

IF KZ is in the States undertaking due diligence, then the length of time of the due diligence would seem to support the suggested magnitude of the assets in question.

Angus's contact name for yesterday's RNS was, as for the Interim Results RNS of 30/06, Carlos Fernandes, not Krzys Zielicki.

It could mean KZ has offered himself some holiday but, more likely, imho, he is in the States undertaking due diligence.

Post the recent deferring of consideration payments, the balance becomes payable at the end of June 2025 and so £1.59m will become payable on 1st July 2025. Assuming it is not received in cash, Forum can elect to receive shares instead.

So, including the £300,000 for the quarter to end March, Forum has agreed to suspend its rights to receive payment in equity for a period of 6 months while the Company is completing due diligence on a potential .

Finally there are some board changes imminent, Forum has requested the appointment of a new NED, Richard Glass’ appointment is expected to be announced in due course and Jonathan Tidswell-Pretorius as a non-board COO is also underway.

With this RTO in the background all other arrangements probably should go on hold whilst it either happens or it doesn’t, until then bets are off and Angus carries on delivering excellent operational performance at Saltfleetby.

https://www.malcysblog.com/2025/07/oil-price-angus-petro-matad/

The Company has accepted the resignation of Paul Forrest, a Non-Executive Director of the Company, with effect from today. Paul has been involved in the development of Saltfleetby since 2019 and joined the Board of Angus in July 2022. Now that the Company has secured the Trafigura refinancing, Paul feels it is the right time to pursue other interests ... (RNS of 30/04/24)

Paul Forrest and Richard Glass are on the board of Corpus Resources (COR):

https://corpusresources.com/about/#leadership

Thank you for the link, Tonto-ai.

"A "Non Board" COO???

That's a new one for me........

He's in charge but the organ grinders won't give him a vote".

COO NOT CEO, Mirasol.

The proposed Board appointments should ensure that it is representative of all the major shareholders.

"Resculpting" the debt has been replaced by "restructuring" the debt: it looks as if Trafigura is exerting more pressure.

7th biggest % riser, 5th biggest volume.

Whispers that Angus Energy is closing in on a game-changing deal—massive U.S. oil & gas asset, already gushing black gold. Could be the start of something very big…

They are careful to raise small amounts while the share price is low: for myself, £600k looks to be too much with the share where it is at the present and with the prospect of the share price rising on the back of CRMA Strategic Project funding news from GROC.

27/01: Deep.KBB GmbH's preliminary project design for South Dorset > the company's "strategic decision that it will pursue revenue support only for its more competitive South Dorset and East Yorkshire projects and will no longer pursue the Portland project"

11/03: 2 MOUs with Portland Port.

"If delivered as envisaged, these synergistic developments would constitute one of only three national scale hubs² of the future UK hydrogen system which offer the combination of: material scale onshore underground storage, material scale green hydrogen production and connection via trunk pipeline to the wider UK ...

UKEn believes that the addition of a potential material source of green hydrogen allied to its storage, plus the ability to store excess renewable wind power in its South Dorset storage site will strengthen its case for the award of government revenue support (see RNS of 28 January 2025) ..."

Centrica have stated they are looking for a cap and floor framework.

Mirasol,

I am hoping the government will deal with Centrica.

In order to do so, they will need to determine the regulatory support model which should open the gates to industry funding from other sources, too.

We await the publication of the annual accounts for 23/24 which the company expects to publish before the end of this month (see the RNS of 30/06).

TH2,

As Centrica makes clear, substantial funds are waiting on the sidelines for the government to determine the regulatory support model.

"To deliver more gas storage, the UK urgently requires a regulatory model. By extending the cap and floor regulatory framework that has successfully enabled private investment in the UK energy interconnectors, Government can encourage investment in storage ...

Government should set a clear and tangible hydrogen storage target of 10TWh by 2030, which will help capitalise on its production target of 10GW. To drive forwards this ambition, Government should also expand the hydrogen storage business model to existing natural gas storage facilities.

We stand ready to invest £2bn repurposing Rough for hydrogen. A cap and floor regulatory support model would ensure operators use sites efficiently and consumers feel the greatest benefits.

Government can unlock the potential of hydrogen by ensuring hydrogen storage and hydrogen to power are just as important as hydrogen production. The UK’s hydrogen economy should aim for 10GW of hydrogen production, 10TWh of hydrogen storage and 10GW of hydrogen to power capacity".