Member Info for ocelot

To my mind, the extent of management's ambitions for Angus has been clear for a long time now.

They produced a sum of the parts valuation back on 18/06/21. If you strip out the 80% prudential discount against Lidsey and the 90% prudential discount against geothermal, then the underlying valuation was of the order of £200m.

Since then, of course, natural gas prices have performed spectacularly and oil has begun to flow again at Brockham (neither Brockham nor Balcombe featured in the 18/06/21 valuation).

The RNS of 24/05.

Agree, Sharebel, this morning's interview is very bullish. I've just listened to it again, here are some excerpts:

from 3:40: "We were able to raise this money at breakneck speed, which shows quite how attractive this asset is ...";
at 4:20: this deal is "massively accretive" for shareholders;
at 5:53: it's "an exceedingly sweet deal" for Angus;
from 07:30: shareholders "won't be disappointed to see these sorts of names", referring to those of the new directors.

Sorry about that, got distracted in the middle of the calculation:

As of now, the float (ie excluding these 3 significant holders totalling 39.29%) is 60.71%.

Aleph Fin C Limited's investment will double following the GM on 13/06 (in percentage terms, its stake will less than double, because of the increase in the number of shares issued).

As of now, the float (ie excluding these 3 significant holders) is 39.29%.

... In the past few weeks, the UK has agreed to import so much LNG that it has more than it can use — and nowhere to store it when it’s delivered. The UK’s gas price is now a third lower than continental Europe’s, as the market adjusts to the over-supply. Were Rough still open, or replaced with a new facility, the excess supply could be stored until it’s needed, as it is across Europe. Without it, next winter’s gas crisis will be partially self-inflicted...

https://www.bloomberg.com/opinion/articles/2022-05-29/sunak-s-tax-helps-consumers-but-misses-the-energy-mark?sref=Em01M8Hr

Forum Energy Services hold 27.89%.

High degree of confidence in first gas. As GL remarks, the cash would not have been forthcoming, and so promptly, from Aleph's investors if they did not share this high degree of confidence.

Those with £6m to invest, invest, whereas, for the moment, PIs remain hesitant - they can't both be right.

It's a big and ambitious project and precisely the kind of project the government should be encouraging at the present.

Will it attract attention from other players seeking to become partners? Could well do, imho.

At the beginning, although these are not GL's words, it sounds as if SEL was under some pressure in terms of cash calls, and that Angus were able to make the most of the opportunity, themselves being able to raise cash very quickly.

Good interview.

At the end, spoke of the new investors seeking a defined dividend policy.

Also learnt that the principal lender is also the party on the other side of the hedge.

Is it the kind of project the government's infrastructure bank can support?

The Company has been advised by Zetland Ltd, its planning consultants, that the scale and nature of the Energy-Hub development is expected to qualify as a Nationally Significant Infrastructure Project ("NSIP"). This would require planning consent to be sought via an application for a Development Consent Order ("DCO") directly to the Planning Inspectorate. Ultimate authority over the decision on whether to issue a DCO would rest with The Secretary of State for Levelling Up, Housing and Communities.

https://www.londonstockexchange.com/news-article/UKOG/future-hydrogen-ready-energy-storage-project/15473414

Six million households could face blackouts this winter because of Russia’s invasion of Ukraine, ministers have been warned, as they look to bolster electricity supplies by prolonging the life of coal and nuclear power stations.

The Times has been told that the government’s “reasonable” worst-case scenario, which has been drawn up by officials from across Whitehall, says that there could be widespread gas shortages if Russia goes further in cutting off supplies to the EU. (from an article in the Times released yesterday evening)

Acknowledgements to PWhite73 on a rival site.

Six million households could face blackouts this winter because of Russia’s invasion of Ukraine, ministers have been warned, as they look to bolster electricity supplies by prolonging the life of coal and nuclear power stations.

The Times has been told that the government’s “reasonable” worst-case scenario, which has been drawn up by officials from across Whitehall, says that there could be widespread gas shortages if Russia goes further in cutting off supplies to the EU. (from an article in the Times released yesterday evening)

Brent above $120 at $120.23

"heaps of confetti"
---------
That's not confetti, that's 49% of Saltfleetby + £6m of cash.

https://www.londonstockexchange.com/news-article/ANGS/extension-of-convertible-loan-note-maturity-date/15181244

the notice:

https://www.angusenergy.co.uk/wp-content/uploads/2022/05/Angus-Energy-Plc-Notice-of-General-Meeting.pdf