Member Info for ocelot

Noobz,

Thank you for mentioning telegram and Facebook but I'm not really a fan of social media and like to keep things simple (as simple as possible, that is!).

elir71,

I've been informed you've sent me a private message, but that is a premium service to which I do not have access.

Thank you all the same.

The final results can arrive at any time: it's the size of the impairment of the investment in HH which is key.

https://docs.londonstockexchange.com/sites/default/files/documents/AIM%20Rules%20for%20Companies%20%2801012021%29_1.pdf

top of page 10 for rule applying to publication of annual audited accounts

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.

Page 10 of AIM Rules for Companies, 01/01/21

It's not the AGM that has to be held by 31/05, it's the final results that have to be released by then (although, with the pandemic, they can also apply for additional time, should they so wish).

Haven't understood.

How can it be, elir71?

They've got until 31/05 to publish their results and need to give 3 weeks' notice of the AGM.

.

This valuation provides very considerable comfort to the debt facility lenders: ANGS is looking to borrow (51% of £12m =) £6.12m and the AAOG RNS provides a valuation of £16.32m for ANGS's share, ie a margin of comfort for the lenders of £10.2m.

Yanis, don't forget ANGS have other interests besides Saltfleetby, of which Lidsey currently looks the most promising.

After-hours RNS from AAOG. Don't know if ANGS will say something on their side.

Yanis, yours. Sorry, the posts have suddenly accelerated, for good cause.

£8m = 25% of the Saltfleetby field, so it's the field which is valued at £32m. ANGS's 51% = £16.32m.

Correct.

AAOG's shares are no longer quoted but the company still exists and says:

... it remains the intention of the board to re-admit the Company's shares to trading upon exercise of the Option or once it has found another suitable business with which to partner. The Company will continue to use the Regulatory News Service to update shareholders as it progresses any transactions...

But my interest is in ANGS, not in AAOG.

The post below concerns AAOG, I hasten to add.

Option to acquire UK Petroleum Licences

The Company will tomorrow enter into an option agreement (the "Option") with Saltfleetby Energy Limited ("SEL") to acquire a 25% interest in in the Saltfleetby gas field, East Lincolnshire.

SEL holds a 49% legal and beneficial interest in Petroleum Exploration and Development Licence 005 (the "Licence") and is a party to a joint operating agreement regulating the operations under the Licence (the "JOA") . On exercise of the Option AAOG would also become a party to the JOA.

The consideration for the exercise of the Option shall be the issue and allotment to SEL of such number of ordinary shares in the capital of AAOG as is equal in value to £8m.

Exercise of the Option is conditional, amongst other things, on: ...

https://www.londonstockexchange.com/news-article/AAOG/cancellation-of-trading-on-aim-option-agreement/14963250

On the contrary, the engagement of a lead operator means they are confident they will soon need the full-time services of the lead operator.