Member Info for ocelot

Mercuria:

Global energy & commodity group.
Operating in more than 50 countries.
1000+ employees. Offices Worldwide.

https://www.mercuria.com/

https://www.mercuria.com/

The key to unlocking significant shareholder value is now in place:

Frazer Lang (Executive Director, G.P. Jersey, major shareholder) comments: "I would like to congratulate the Angus Energy board on achieving this significant milestone, this debt facility allows Angus to monetise the Saltfleetby Gas Field, which is the key to unlocking significant shareholder value."

The Placing Shares were also accompanied by the issue of one warrant to subscribe for one ordinary share in the Company for each Placing Share (the "Placing Warrant"). The Placing Warrants are exercisable at any time, for a period of 2 years, from the date of Admission at the following exercise prices: 50% at 1.2p; 25% at 1.35p and 25% at 1.5p. (RNS of 27/01/20)

We have continued to progress the detailed engineering design for the rehabilitation of Saltfleetby during the documentation process and have decided, with the support of the Aleph and Mercuria, to drill the third production well at Saltfleetby before reconnecting the two existing gas wells. This will allow us to begin with the daily plateau production of 10mmscf originally envisaged by the Competent Person's P90 case, immediately after the new processing facilities have been commissioned and as such it is expected that first gas will begin in Q4 2021. The timing of this will allow us to benefit immediately from winter gas prices at the capacity rate of the facility thus enhancing the initial revenues from the field.

Congratulations to GL and the team at Angus and to all concerned and very well done!

In fact, it's the Companies Act 2006 references which appear to be inconsistent:

6 months to publish results:
6 months to hold AGM;
3 weeks to provide notice of AGM.

But there can't be an AGM before the results are published.

Appears to agree with the Companies Act 2006 but doesn't agree with AIM Rules for Companies, 01/01/21:

19. An AIM company must publish annual audited accounts which must be sent to its
shareholders without delay and in any event not later than six months after the end of the
financial year to which they relate. (top of page 10)

Placing can be done very quickly, but the Open Offer to existing shareholders is more cumbersome, takes a certain amount of time (and, if the share price slips below the subscription price, may not raise very much!).

or an Open Offer and a placing.

Heading for an Open Offer instead of a placing?

6. Special Resolution – to dis-apply pre-emption rights

near 8m trade at 0.314p

ZYX, Exploration, thank you for your contributions.

Not an oil expert myself, appreciate the contributions from those with in-depth industry knowledge.

bailiff,

that's Oanda's price, not the spot price.

.

Agreed, and UKOG has other interests besides Saltfleetby, Lidsey looking the most promising at present.

ANGS's share price seems to be quoted at 0.825p out of habit more than anything else!

Yanis,

GL's answer may not be the one you are looking for, but he has already provided it:

... We can say that given the sensitivity of the matter, if there were any significant road block then we would be under an obligation to inform the market immediately. (from the answer to an Investor Question asked on 14/02/21)

Penguins,

We are all in the same boat, anticipating the drill and the results.

As you say, they are making good progress, so not much longer to wait now.

(the) first modern appraisal well designed to establish commerciality of extensive Basur-Resan oil discovery. (one of the tweets dated 23/03)