Member Info for ocelot

As Yanis pointed out, today's RNS concerns the exercise of warrants, not the selling of anything.

Their exercise has injected £1.4m into Angus.

The accompanying statement from Aleph suggests they are not looking to sell the corresponding shares in any hurry at all.

Well spotted, Yanis, hadn't registered that one myself.

Note that the RNS includes a very supportive text from Aleph:

Aleph management comments: "Angus is a very strategic long term investment for Aleph and the Energy Security of the United Kingdom. Our Group and its Partners are very supportive of Angus's management and its plans to grow the Company from a small cap to a Major player in the Production and Storage of Energy, through organic opportunities and acquisitions."

Looks as if the total of their warrants was originally about 216.897m (127.4m exercised, 89.497m still held as warrants).

Yanis,

It goes back to the purchase of the additional 49% of Saltfleetby and the RNS of 24/05:

The Subscription Shares carry in aggregate rights to a further 173,100,000 shares in the Company by way of the issue of warrants, which can be exercised at any time within the next 5 years at a price of 1.09896011 pence per share.

PS: on one occasion, GL caught me out, releasing an RNS at about 6.30pm. Ever since, if I remember, I check ANGS for late RNSs.

Exercise of Warrants and TVR

Angus Energy Plc announces that, following the receipt of an Exercise Notice by Aleph International Holdings (UK) Limited ("Aleph"), it has issued 127,400,127 ordinary shares of GBP0.002 each in the capital of the Company at an exercise price of 1.0989 pence per share ("New Ordinary Shares"). The New Ordinary Shares will rank pari passu with the existing ordinary shares in issue.

Aleph management comments: "Angus is a very strategic long term investment for Aleph and the Energy Security of the United Kingdom. Our Group and its Partners are very supportive of Angus's management and its plans to grow the Company from a small cap to a Major player in the Production and Storage of Energy, through organic opportunities and acquisitions."

Accordingly, the Company has 89,496,995 warrants over Ordinary Shares outstanding.

Truss has dug herself quite a deep hole here:
she doesn't want to reverse her tax cuts:
she doesn't want to cut spending;
she does want to borrow, but the markets are in no mood to make funds available to her without raising significantly the interest rates they charge.
Something's got to give (and it's unlikely to be the markets).

1.1307 now, something's cooking.

1.1213

government U-turn coming re the mini-budget?

Don't forget the Balcombe appeal decision is due any time: if it is favourable, expect a bounce. The bounce could be all the bigger the bigger the share's decline from its recent peak.

Barchart is a backward-looking indicator, it says where the share is coming from.

If it's saying the share is still a 100% sell, then the share is down in the dumps and may be a cheap buy.

On this occasion, SS's discreet approach may prove to be the right one: let's just wait and see how things develop from here.

On the BBC's rolling live coverage, this comment from Nick Watt after Truss's meeting with 1922 backbenchers:

I have encountered a wall of derision and unease about this prime minister - I haven't felt something like this from Conservative MPs since the 48 hours before Boris Johnson threw in the towel.

It's hard to believe!

Looks as if Adrian has visited HH today and has posted a new photo on twitter.

I've just seen a subject title from 10/10 entitled: "Loans to subsidiary companies? £21.7m".

This, of course, comes from the accounts of the parent company and not those of the group. At the group level, it gets netted out, since it means that one group company is lending money to another group company which is borrowing it.

net book assets at 31/03/22: £36.144m

market cap with price at 0.0735p: c£13m

Discount to net book assets of £23.144m or 64.0%

https://www.ukogplc.com/ul/Unaudited%20results%20for%20the%20six-month%20period%20ended%2031%20March%202022.pdf

Revised Spud Date and Process Capacity Milestone

Angus Energy Plc (AIM: ANGS), is pleased to announce that, following a scheduled maintenance shutdown last week, hourly throughput rates through the process plant (i.e. sales gas) now exceeds our October target production rate of 6 million standard cubic feet per day with well pressures holding in the high forties. Condensate production has stabilised at or around 120 barrels per day. As previously advised, we will report monthly gas sales figures at the end of each quarter.

Side-track planning progresses apace with a slight adjustment to spud date from 20 October 2022, as previously advised, to 24-26 October 2022 in order to accommodate a potential supply chain issue.

https://www.theguardian.com/business/2022/oct/11/power-giants-to-face-windfall-tax-after-all-as-liz-truss-delivers-u-turn

" ... this is an opportune time to be developing a project of Amitsoq's quality and potential magnitude."

Quality + potential magnitude = the holy grail of exploration.

In addition, Greenland is a mining-friendly jurisdiction and the area is accessible from the sea.

Here is their most recent presentation, of 28/09:

https://greenrocmining.com/wp-content/uploads/2022/09/GreenRoc-IMC-Presentation-28.09.22-1-1.pdf