Member Info for ocelot

Management being proactive.

"The facility carries warrants equal to 20% of the full facility amount of £1.5 million. The warrants are issued upon execution of the facility and are exercisable at a price of £0.01664 per share with a three year term"

and sold at what ever the market will bear at a massive profit.
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The massive profit will be made when the price massively exceeds the exercise price of 1.664p.

You've become the new JL, bunks, almost invariably winning the Friday Club prize - congratulations ... again!

The advantage of the convertible loan is that the converted shares are sold over time:

At this point in time, we believe that a convertible loan note, with the bulk of conversion limited to 2020 when the market will have better visibility on significant cash revenues from Balcombe and Saltfleetby, is a better option than an equity placing at a significant discount today."

I see my last post was timed at 15:07.

I made it 15:04, so did GMT, I think.

Well played, shallwe!

Just to add:

today's news does not affect my reasons for investing in ANGS;

on the contrary, it may well help to advance the Balcombe and Saltfleetby projects and any future projects.

All depends on your time horizon, YL.

Am not a day or short-term trader, looking to the longer term, so day-to-day share price movements are interesting but not of the essence.

YL,

I'm perfectly happy with the posts you cite - thank you for publicising them!

It's not a particularly large fund raise, so I'm not sure there will be much dilution.

In exchange, they get cash, which may help them advance their existing projects and, maybe, add to them.

Ja51,

It's natural to be negative when the share price has declined as much as it has here.

The intriguing thing is what posters do when the share price begins to rise and looks as if it has significantly higher to go.

As someone who's been posting on this board essentially since the Brockham RNS of 28/06, I'm interested to see how many posters continue to follow ANGS, even if their investment experience of it has not been a happy one.

I suspect that a percentage of these posters could buy in again should they be convinced of ANGS's longer-term prospects, especially since they almost certainly managed to reduce their holdings, or sell out, at higher levels than the current ones.

Most importantly, and as regards new business opportunities, Angus is able to evidence to potential partners its commitment to behave as a responsible and financially capable Operator.
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It's also part of drawing a line in the sand with the past.

70 trades in all so far.

Are they doing this now to help the Balcombe application?

Or do they have another project in mind?

At this point in time, we believe that a convertible loan note, with the bulk of conversion limited to 2020 when the market will have better visibility on significant cash revenues from Balcombe and Saltfleetby, ...
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Makes one wonder why they are doing it now and not in a few months' time.

Most importantly, and as regards new business opportunities, Angus is able to evidence to potential partners its commitment to behave as a responsible and financially capable Operator.
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They've taken the bull by the horns, with a view to the future.

The sum involved is relatively small (imho!).

Agreed, northfolk, it was the news about Broadford Bridge that interested me:

UKOG (234) Ltd accounts said the company expected to spud the Dunsfold wells in 2020, if it received planning permission. It also indicated that it would re-enter the Broadford Bridge well in West Sussex, in the same licence area, before March 2020.

More active trading this morning: 3.7m shares to date, according to advfn.

JT-P's last buy was at 1.30p (RNS of 25/09).