Member Info for ocelot

Mirasol,

Fracking is a gonna in all eventualities, the Conservatives having decided they are no longer in favour of it (they need all the votes they can get including those of environmentalists and of the young).

YL,

CharlieLondon's conference notes and your comments related to Saltfleetby, the £650k cash reserve relates to Brockham and Lidsey, which, to the best of my memory, were never mentioned by anyone.

Presumably, the cash reserve of £650k against the potential Brockham and Lidsey abandonment liabilities arose out of the ongoing dialogue with the OGA - I take that as a sign the dialogue is advancing constructively (but others say: "I told you so").

Think a lot of the posts on this board say far more about the posters than they do about ANGS.

It is in the interest of all those who are invested in ANGS that the share price rises over time.

Best wishes to all invested in ANGS.

wealdpwr uses the term "Lucanistas" to describe those who want GL to succeed.

A good number of regular posters on this board do not want GL to succeed.

It raises the question: why do they continue to follow ANGS so closely?

Suspect a good number have taken significant losses and are concerned that GL will succeed and they will be shown to have sold out at too low a level of share price.

Wealdpwr, I have absolutely no idea what your point is in relation to CharlieLondon's interrogation:

why did PV choose not to fight JT-P's requisition?

But happy to leave it there.

You've lost me, wealdpwr.

CharlieLondon's point was that Vonk decided to resign when he had the choice to fight JT-P's requisition.

In your opinion, why did PV choose not to fight JT-P's requisition?

Withoutt 195
Wolfbag 199
Hawkey 201
broadland 204
ocelot 210

and the 2nd largest is JDA Consulting, who may also be aligned with JTP.

Don't know what "facts" (in inverted commas, because a lot of opinion seems to be presented as fact on this board) I'm supposed to be denying.
I:
1/ am of the opinion that Angus's share price is "grossly undervalued" (GL's term) at the present time;
2/ await developments re Angus's Saltfleetby and Balcombe projects;
3/ anticipate that the share price will rise with those developments.

I do find you a little bit negative, at times, YL!

Yes, let's make it an England v Wales final!

All I remember(and this isn't directed at you, YL) is that posters were saying the full amount of abandonment costs would need to be set aside from the outset (there's even a question to that effect which is currently the 3rd most popular of Investor Questions):

Will you have to set aside a full cash provision against abandonment of the Saltfleetby Gas Field at the outset? [Investor Presentation Sept 30 2019]

CharlieLondon,

Perhaps JP-T spoke for more than his own holding, perhaps he could count on the support of the owners of Knowe Properties and JDA Consulting.

Was it a very small board?

Already Saltfleetby is proving to be far more costly than Lucan estimated (especially now that he has had to concede that set-aside abandonment costs will be required with the OGA and a separate holding account opened. Now how many of us suggested this NEEDED to happen and yet were poo poo'd by the cheerleaders?)
--------------------------
In what way is it proving to be far more costly than Lucan estimated, YL?

He's been suggesting for quite some time setting aside 15% of revenues to cover the abandonment costs.

Just to pursue my previous post:

perhaps Saltfleetby was part of the strategic considerations prompting the board changes. Extract from the transcript of GL's Drill or Drop interview:

Turning to Saltfleetby, you’re an oil company in the Weald and you start looking at a gas company
in Lincolnshire. Why was that?

We have looked - in the weeks before I started, I was doing some work tangentially with the
company - I suppose at 40 different projects in the last year. Most of them you can chuck in the bin
in about 10 minutes. But about 10 of them have proved to be interesting enough to merit a lot of
attention.
Originally, Saltfleetby was thought by my predecessor not to be worth the candle – to be treated as
an abandonment issue. Actually, when I first joined, that was still the technical team’s view. And I
think they didn’t have enough data. When they did, they immediately said it was a very attractive
asset.

https://investigatingbalcombeandcuadrilla.files.wordpress.com/2019/10/transcript-of-interview-with-george-lucan-of-angus-energy.pdf

PS: PV's resignation RNS goes back 9 months, to 29/01/19. It contained the following sentence (my capitals):

As stated above, George Lucan will act as interim Managing Director pending the Company's continuing search for a permanent appointment with industry experience TO DEVELOP THE COMPANY'S BUSINESS BEYOND ITS CURRENT CORE STRATEGY.

The company's strategy was, therefore, at the heart of the board changes.

PV isn't here to defend himself, so I have no objection to wealdpwr seeking to defend him whenever his name is mentioned in an unfavourable light on this board.

Personally, however, as someone who has bought in since PV's resignation, these exchanges are, above all, of historic interest, helping me to understand the state of ANGS's collection of assets when GL inherited them as MD.

Withoutt 195
Hawkey 201
ocelot 210