Member Info for ocelot

The "old" Angus seemed to lack respect for administrative process.

This is something GL brings with him and is important for ANGS now and in the future, given the key role played by the various authorities in onshore oil and gas exploration and production.

wizard125,

the outstanding loan is £4.35m (see the RNS of 09/10).

Agree with the gist of what you say, CL, and wasn't aware you've had personal experience of this kind of thing.
It's an AIM oil explorer, so investors knew they were exposing themselves to risk from the start.
Then it comes down to demonstrating they were misled in a way which caused them financial harm.
But one of those who's lost the most is JT-P himself.
If they fail to prove their case and costs are awarded against them, they will simply be increasing the size of their existing losses.
Have every sympathy with all those who have lost money in Angus, but not at all convinced this is the way for them to go now.

... We do not wish to be the kind of company that litigates against the very people who fund us and we accept that our shareholders are entitled to their opinions and entitled to criticise us when we get things wrong. We would however point out, and ask others to point out, to those who claim to be mounting or about to mount legal action – that they should either get on with it or get over it... (from their recent answer to an Investor question).

ocelot 225

Congratulations, broadland, this week's worthy winner!

That was an encouraging way to complete the week.

reverse chronological order:

Arden Oil Conference (London) 27 November 2019

Goldman Sachs Global Natural Resources Conference (London) 13-14 November 2019

J.P. Morgan Global Oil & Gas CEO Conference (London) 5 November 2019

You're becoming ever-more bullish, pennydealer!

The Loan Note carries no interest and allows for conversion of amounts drawn down at the option of the holder at the lower of a 7.5% discount to the average of the 3 lowest daily Volume Weighted Prices ("VWAP") (over the previous 10 days) into shares in Angus Energy ...

It's the VWAP that matters - the MMs can do what they like with the spread, but it's the price at which trades are executed that matters.

Agreed, that is a very big spread.

Riverfort requires the opposite, a liquid stock where it can sell without disturbing the share price too much.

Evidence, YL, if you're going to accuse Riverfort of shorting, you do need a bit more than your personal feeling!

apparently, in response to a sale of 3,138 shares at 1.02p!

What has happened is the MMs have dropped sharply the bid, from 1.00p to 0.85p.

They're a listed company, YL. If you have any evidence they are shorting, please make it available to the board.

The terms of the Facility agreement stipulate, for as long as any portion of an Advance is outstanding, neither the Noteholders nor any of their affiliates shall hold any net short position with respect to Angus Energy ordinary shares and they shall not, during any calendar month, sell greater than 20% of the number of Angus Energy ordinary shares that have traded during such calendar month.

Watch out for the long shots coming up on the outside!

Volume isn't anything to write home about, (300k), but, if nobody wants to sell, ...

Iraq’s president said Thursday that Prime Minister Adel Abdul-Mahdi had agreed to resign once a successor is found and vowed to move toward new elections after days of violent protests between anti-government demonstrators and security forces left at least 200 people dead.

In a televised speech, President Barham Salih said he would present a draft electoral law next week for an early parliamentary ballot, and vowed to crack down on corruption, one of the key demands of protesters.

Salih said the premier had requested political blocs to agree on a replacement before stepping aside, signaling a possibly prolonged period of horse-trading between antagonistic parties across a sectarian divide.

https://www.bloomberg.com/news/articles/2019-10-31/iraq-s-president-signals-new-elections-as-premier-agrees-to-quit?cmpid=BBD110119_OEU&utm_medium=email&utm_source=newsletter&utm_term=191101&utm_campaign=openeurope

sorry, KuroMaou had already made the same point in his post of 08:47.

Don't think the next lot of accounts will show any revenue from HH, because it is offset against the ongoing programme at HH.

· The Company continues to actively pursue growth and is assessing
opportunities to make value-accretive additions to the portfolio

That sounds as if there could be news in the near-ish future.

Somaliland sounds good, too:

· Interpretation of the 2018 2D seismic data together with basin
analysis has identified multiple stacked prospects, with each of them
estimated to have resources of c.200 MMbbls

Ja51,

The OGA is very clear about the central importance of cash flow forecasts.