Member Info for ocelot

Or, to put it another way, Genel trades at 48% of its nets assets.

Answer to your 1st question, Hawkey:

net assets at 30/06/19 = $1,373.6m, so, at £1 = $1.297, are equivalent to £1,059m (the Miran impairment knocked back book net assets significantly).

Issued share capital of 277,669,746 shares = 381.4p per share.

Current share price of 183.00p.

Discount to net assets: 52%

YL,

I wasn't following ANGS at the time, so lack any personal experience of what happened prior to this Spring.

But wealdpwr's post of 20:11 last night ("... and don't forget this NOMAD was previously fired, and apparently according to LUCAN, plotting w JTP to retake the company") did prompt me to take a look at some of last year's RNSs, the word "retake" being a curious choice.

As I say, it gives the impression of a power struggle between JTP and PV in the 2nd half of last year.

That power struggle was resolved at the beginning of this year, in JTP's favour.

The RNS of 29/01/19 announcing the resignation of PV, new appointments to the Board and re-appointment of the earlier Nomad, spoke of the intention "to develop the Company's business beyond its current core strategy".

Saltfleetby is the new management.

The new management is, therefore, different to the old.

Brockham, yes, of course, but there's also been the need to lodge a new application for Balcombe testing when that testing was, apparently, already covered by the existing permission.

As I say, my impression is that "Tidswell's coup" was in response to "PV's coup".

The past is the past, time to turn towards the future.

GL.

YL,

Don't you think that some of this year's problems can be attributed to the delayed effect of the company's "power struggle" of the 2nd half of last year?

Imho, it is better for the company's future when all of the company's key players are pulling in the same direction.

I'm relatively new to ANGS, so this may be old hat to most of the posters on this board.

weldpwr's use of the phrase "retake the company" suggests the following, that:

1/ PV used JTP's compliance shenanigans to "take" (more control of) the company;
2/ JTP regained control via the requisition and the subsequent resignation of PV.

This power struggle manifested itself, inter alia, in the replacement (RNS of 03/09/18) and subsequent re-appointment (RNS of 29/01/19) of Beaumont Cornish as the company's Nomad.

I'm sure we can all agree that the company is in a much healthier position today, now that this struggle has been resolved and is a matter of the past.

... plotting w JTP to retake the company.
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curious choice of word, wealdpwr, to "retake" the company.

Because the company had been "taken" by the previous regime?

and we've closed in the blue, thanks to the UT: 1.14p.

Lord Lucan said Vonk ended up in a disagreement with shareholders towards end of 2018 and wasn’t able to come to market with a regular fundraise and so raised unsatisfactory convertible loan note. Lord Lucan failed to mention that it was one shareholder and that was JTP.
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wealdpwr,

Are you saying you think PV should have resigned before arranging the "unsatisfactory convertible loan note"?

YL,

One man's "reasoned argument" is another's "bee in the bonnet".

YL,

The "you" in my question referred to management.

Alan2017,

We all know JTP possesses influence, because he was the one who removed PV.

There was a falling out between them, suspect PV's financing deal was one of the reasons. The first thing GL did on becoming MD was to reverse that deal and just as well, given the subsequent decline in the share price.

It's the same as in politics, do you want a potentially influential shareholder to be close to you, where you can maintain contact with him, or sulking on the back benches?

Not sure there can be a meeting of minds, YL.

Those who are so negative about ANGS are those who have lost a lot during the protracted decline of the last many months/couple of years.

But it is management's business to focus on the future and do what they think is best for the company's development.

Thought it sounded like you, YL, but if I'm mistaken, fair enough.

Are you sure that question isn't yours, YL?

... So, if I were to tell those (AIM market) investors that I believed this collection of assets together may be worth between 4 and 7p RIGHT NOW, ...

The mid-point of GL's valuation of ANGS is 5.50p meaning that, in his opinion, at 1.175p, the share is approaching a potential 4-bagger.

Those on the look-out for bargains in the market will, sooner or later, alight upon ANGS.

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

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

Boyobach,

Trading and Operations Update 1 November 2019

Their financial calendar is upside down, with the nearest dates at the bottom.

Looks as if ANGS has registered some of Alan2017's questions:

http://www.angusenergy.co.uk/media/investor-questions/