Member Info for ocelot

This is the knee-jerk reaction, the session is only 24 minutes old.

That sounds as if nobody was keeping a very close eye on tankers in October.

(Personally, I don't remember precisely when FOTH began to take a closer interest again in the tankers at HH).

How many tankers were spotted in October, Ninetails?

It's important to remember, too, that Saltfleetby Energy owns 49% of Saltfleetby but doesn't have access to the equity market.

Don't forget how much the price of natural gas has risen since the beginning of the Saltfleetby project.

Think it's important to avoid knee-jerk reactions: it is highly unlikely the company has just, all of sudden, decided it should raise a further £1.4m.

If any of the bidders are interested in bidding for the company, wouldn't they be advised to pick up as many as they can of the new shares at their issue price?

Come on Ocelot. You admitted you got in at 5.5p odd earlier and havent changed your position, yet the company just valued your shares at 0.8 p and your trying to sell it as a great announcement…
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WG818,

As I explained, 5.5p (approx) was the price I paid for my first, small purchase of Angus shares. As I said, I am very comfortable with the current share price.

To put the record straight, from this afternoon's RNS:

Reasons for the Placing and Use of Proceeds

The Company is undertaking the Placing to progress its corporate and operational strategy and the net proceeds will therefore be applied towards:

-- Increased contingency for Saltfleetby budget (now 90% finalised);
-- Geothermal Subsurface and potential site acquisition work); and
-- Working capital and general costs.

Ignore my posts of 17:36 and 17:39, which come from the previous raise of 03/12/21 (I had both RNSs open and read from the wrong one - apologies).

- Planning and regulatory matters in respect of its current oil fields, including work to resume production at Lidsey during Q1 2022, subject to regulatory approvals; ...

-- The net proceeds of the Placing will be applied to deliver the Company's work programme over the next 6-12 months as further detailed below...

Reasons for the Placing and Use of Proceeds

The Company is undertaking the Placing to progress its corporate and operational strategy and the net proceeds will therefore be applied towards:

-- Increased contingency for its Saltfleetby budget;
-- Geothermal subsurface and potential site acquisition work (5 target sites identified)
-- Planning and regulatory matters in respect of its current oil fields, including work to resume production at Lidsey during Q1 2022, subject to regulatory approvals; and

-- Working capital and general costs.

Better price than the previous raise, which was for £750k at 0.65p.

-- The net proceeds of the Placing will be applied to providing an increased contingency at Saltfleetby, geothermal subsurface and site acquisition work and for general working capital purposes.

To raise £1.4m at 0.80p, more significant raise than the previous one.

It won't be easy to assess the merits of a bid for the company, in part because Lidsey's potential has still to be clarified in more detail.

Re Saltfleetby, there are also unknowns including the implications of this Investor Question and answer:

When will the full remap images of Saltfleetby be available, and would you buy/lease further equipment to enhance production from other areas of the licence. Thankyou. Asked on 8 November 2021

We are waiting on input from partners on our interpretation and will update on that and discussions with neighbouring licence holders as soon as it is received.

I've checked, WG818: mid 0.05ps, marginally higher than the low 0.05ps I remembered.

DoneK,

Agreed, I'll let drop the subject now.

It really doesn't make any sense at all, WG818.

If you have the skill to identify the peak in Angus's share price, then you wouldn't be posting on this board because you would be applying that skill elsewhere to make money.

WG818,

I've not understood why you resort to hypothetical explanations, you must know how you managed to lose thousands at the same time as you spotted the share price high and have been constantly correct ever since.

Re myself: dipped my toe in, as I've said, before the Brockham RNS of 28/06/19. From memory, the highest I paid was in the lows 5s, but it was for a small quantity. Again, as I have said, have not remained inactive since, am very comfortable with the current share price and am looking forward to future developments.

WG818,

It simply doesn't make sense.

You say in your post of 10:11: "I have been here since the 38 p highs and have been constantly correct in my “predictions of Doom”...".

But in your post of 08:59 you said this": LOL……well if you expect me to put a couple of grand more into a company that has already lost me thousands, ...".

How did you manage to lose thousands in a stock where you have been constantly correct in your predictions of doom since the 38p highs?