Member Info for ocelot

Little to do with fossil fuels either, all about not in my backyard.

Happy to say scotalba's understanding of the situation proved to be correct.

Well done, Alba (or GMOW, to be more precise) and congratulations to all who have waited so patiently for so long!

With production up at Saltfleetby, the Board’s priority now is to identify inorganic opportunities for growth which would provide the route to a £100m valuation.

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I have no idea if Loxley might be of interest to Angus, following the recent shift of responsibilities within management.

But it remains a possibility and would be very comfortably within the financial envelope of their ambitions.

Https://www.marketscreener.com/quote/stock/ANGUS-ENERGY-PLC-31877744/news/Angus-Energy-shares-drop-after-disrupted-production-44253138/

From the website, before today's 2 RNSs:

Shareholdings in Angus Energy of greater than 3% are as follows:

Name Percentage of Enlarged Share Capital

Forum Energy Services Limited 10.46%

Kemexon Ltd 8.78%

Aleph Fin C Limited 7.86%

Knowe Properties 6.73%

The above information was accurate as at 24 April 2023 and is based on TR1 notifications received by the Company.

Average_Dave,

We don't know how much Aleph Fin C sold, all we know is that it brought their holding below the 3% disclosure threshold.

Below 3% from 7.71%, as of 29/06.

From 9.2%

As of 29/06.

With production up at Saltfleetby, the Board’s priority now is to identify inorganic opportunities for growth which would provide the route to a £100m valuation. The Board is also evaluating the potential value in the longer-term of a gas storage solution at Saltfleetby.

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No mention of legacy assets in this answer, nor of geothermal. The company's priorities are becoming more clearly defined.

Are management/directors now free to buy shares in the company once the Interim Results are reported on 30th June? Thank you Asked on 2 July 2023

Yes, unless the Board considers them to be in possession of price sensitive information not yet released to the market – i.e. if management were evaluating disposals, acquisitions or approaches etc etc.

So, if there are no management share purchases, should one assume management IS in possession of price sensitive information?

"With production up at Saltfleetby, the Board’s priority now is to identify inorganic opportunities for growth which would provide the route to a £100m valuation ...".

I reckon it will fall to 1.25p.

What! It's below 1.25p now, you say.

Then it's a buy, isn't ?

Article in the business section of today's Sunday Times: "Can pensions be unleashed to rebuild Britain?" (p5)

"Pensions now invest only 4% of their assets in UK-listed companies, against 50% 20 years ago. In the same period, holdings of bonds have risen from 15% of pension scheme assets to 60%. Such numbers can seem esoteric, but the effect on promising British enterprises is stark.

Gary Marsh, the chief executive of AIM-listed electronic business Solid State, now valued at £135m, raised £28m last year. But he was told by pension fund managers at a conference last week that they were now only going to look at businesses worth £300m or more.

'There's a dichotomy between the needs of a flourishing AIM market and the needs of the fund manager' he said".

Also included in Citywire's round-up of the morning press:

The Sunday Times: The UK must back a network of hydrogen filling stations or lose out to the Continent and Asia in the roll-out of greener cars, a senior executive at BMW has warned.

Sunday Times business section, front page:

"BMW tells Britain to prepare for hydrogen".

"The UK has just 12 hydrogen filling stations, according to BMW".

Think you over-estimate my influence, Trutti!

The world's biggest methane and HYDROGEN storage facility

"Centrica reveals Rough plan to boost gas security" (Times, p43)

Looking to boost capacity from 30 Bcf to 54 Bcf.

Still leaves the UK's storage capacity way behind that of principal European countries.

The CEO, Chris O'Shea, said "the company was ready to invest £2bn to repurpose the Rough field as the world's biggest methane and storage facility, helping to deliver a net-zero electricity system by 2035 and creating 5,000 skilled jobs ...

He said that 'no taxpayer cash is required', although to achieve its aims would require 'the right regulatory support framework".

Have him on filter.

Https://drillordrop.com/2023/06/30/saltfleetby-gas-production-lifts-profits-at-angus-energy/

Gas production at Saltfleetby in Lincolnshire helped to generate revenue of nearly £16.5m for Angus Energy in the six months to March 2023. This compared to £27,000 for the same period in 2022.