Member Info for ocelot

Yes, Mullins.

Angus management themselves speak of a "transformational transaction".

I know "transformational" is a much-used word but, in this case, it is clearly the appropriate one.

The deal would lead to "... a significant increase in reserves, production and positive cash flow. The transaction diversifies Angus away from the challenging UK energy sector into assets in a highly supportive oil and gas jurisdiction, with stable and reliable production and low decline" (RNS of 19/05).

Geographical diversification plus spreading of the business across a wider revenue base means a more solid and reliable company and, hopefully, a market re-rating.

Mullins,

I have a lot of posters on filter, most of whom are negative commentators I believe are not invested in Angus (or, indeed, necessarily investors at all).

But the share performance of Angus has not been a happy one for quite some time so there are certainly those who are disillushioned but remain invested.

To remain invested, they presumably believe the stock is at, or near, its low and possesses recovery potential.

UKOG does have some financial liabilities, the nearest term of which is the BB restoration (by 06/02/26), but it has no financial debt.

If you have no confidence in what management says, and if you have not already done so, suggest you sell out when the opportunity arises.

"... a further announcement with full details of the transaction will be issued at the appropriate time once binding contracts are entered into and an admission document published and sent to shareholders with a notice of general meeting. The Company is working towards finalising the asset purchase agreement and further details and timing will be communicated in due course" (RNS of 19/05).

Bubblepoint,

Potential RTO involving a group of producing assets in the Gulf of Mexico/America, ongoing discussions with Trafigura - we all await to learn more.

"Do you seriously believe ANGS would have been able to release an RNS on 19/5, with the information contained therein without there being any truth in the content?

Would the nomad, broker, legal advisors allow publication and suspension of the shares on a company derived made up rumour?"

Well said, Crocqman.

Mind you, the leak was very bullish in tone:

"Could be the start of something very big… "

And Angus's own RNS of 19/05 spoke of "this transformational transaction (which) would represent a major strategic development for Angus Energy, with a significant increase in reserves, production and positive cash flow".

So there is all to play for.

One-way traffic for the present, volume of 67.2m shares.

Nobody is suggesting the current situation constitutes a bed of roses but it is important not to overlook the more positive indicators, too.

1/ after much searching, Angus have located an external growth target for which a non-binding agreement has been signed;

2/ this target is in the USA so, if the transaction is completed, would diversify geographically the sources of Angus's revenues and provide the company "with a significant increase in reserves, production and positive cash flow" (RNS of 19/05).;

3/ in Trafigura, Angus appears to have the support of a lender which is prepared to show considerable understanding and patience: at the last count, positive discussions are ongoing (RNS of 21/07);

4/ the low historic hedges expired on 30/06 which should provide a significant boost to revenue and cash flow;

5/ daily production figures at Saltfleetby appear to be improving since the annual maintenance shutdown.

You are free to express your opinions, and to act, as you see fit, Bubblepoint.

I can understand your position, I am currently unable to understand Mirasol's.

Bubblepoint,

So why do you think Mirasol is a shareholder in ANGS?

Does it make sense to you?

Mullins58,

As this morning, he posts a list of the daily production figures for Saltfleetby on a regular basis which I find useful, so I have not filtered him.

He has said this morning that he is a shareholder.

He has also said this morning that he is on "The side of truth ... Honesty. Fair dealing. Bright light into dark corners".

As such, he will want to start by shining a bright light onto his own motivations in order to avoid constituting a "dark corner" himself.

His most recent post was full of negativity about small AIM O&G companies which is difficult to reconcile with his shareholding in Angus. Hence my question to him in my post of 11:17.

Why are you a shareholder in Angus, Mirasol? Or will you be selling when it returns from suspension?

"but yes - I'm a shareholder .

Now Ocelot - are you?"

Yes

"Whose side are you on, Mirasol?'

The side of truth Ocelot. Honesty. Fair dealing. Bright light into dark corners".

Are you a shareholder, Mirasol?

That reading for 16/08 must be the highest in a good, long time: 0.1453

Bubblepoint,

Given the ongoing discussions with Trafigura re the resculpting of the original payment schedule and the potential transaction, I see it as a plus for PIs that there are a number of significant shareholders in Angus's share capital.

Am on the side of all shareholders.

Hope a solution is being negotiated to the satisfaction of both shareholders and Trafigura establishing Angus as a bigger company with promising prospects based upon a wider range of sources of revenue and less dependence upon the UK.

Whose side are you on, Mirasol?