Member Info for ocelot

Thank you for your resume, Hawkey.

It's been more than 3 1/2 months since the Brockham RNS of 28/06.

At some stage, the market will have sorted itself out and those who wish to sell at these current levels will have sold.

Then, to buy, it will be a question of raising the bid, to find new sellers.

Maybe just the MMs setting up shop at the beginning of the day.

Unchanged, with zero trades on AIM.

Note, too, that Saltfleetby should open up to them other sources of finance apart from placings.

Thank you, neon, and understood (and you're far from alone in thinking this way!).

I arrived late in ANGS, so avoided most (but not all) of the share price decline, so am free of any particularly negative feelings about management.

It's going to require new investors to raise the share price, because, as you say, most existing investors are too reluctant to average down at the present time.

I'm sure management DO want to see the share price rise and, from this low level, significantly (the mid-price of GL's range of 4-7p is 5.50p), at which point, yes, they recover the option of a placing, should they find a new project they wish to pursue further and which requires the additional funds.

UKOG's has always acted as if it was a bigger concern than it is, as if it was already a mid-cap.

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.
We have a gas operator’s licence and our principal technical man, our technical director, he is in fact
ex British Gas. He’s almost more familiar in that territory than he is in oil so he was delighted to go
back and put his gas hat on and look at this field.

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

Personally, given his 30 years' experience as an investment banker, I suspect he knows what he's talking about when it comes to valuations, but, of course, Ja51, you are entitled to your own opinion.

Ja51, You're saying GL is looking through the wrong end of the telescope, I was quoting him.

From the lack of funding available to the buyer, I understood the buyer was likely to be UKOG, as, you, dsfat, suggested in your post.

Another extract (my capitals):

... 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, that would be a view which I have professionally with 30 years’ experience based on my relative confidence in their immediate producing capability.

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

So availability of funding to the potential buyer.

From their point of view?
Yes...

Quiet on here this morning, so here's an extract from the transcript of GL's 02/10 interview with Ruth Hayhurst of Drill or Drop:

... I have a relatively high degree of confidence about principally our
Balcombe asset, which we hope to exploit next year, subject to planning, and very high-level
confidence about Saltfleetby as a producing and cash-generating asset.
The remaining assets, one is dormant, it’s called the A24 prospect, one of the Weald ones. The
other, Lidsey, we have growing confidence about. We want to shoot some more seismic, be really
knowledgeable before we throw a lot of money at that...
But I do believe that the acquisition of Saltfleetby is a game-changer for the share price. In fact, I
believe it will make for the company much more money than Brockham would ever have made for
us. That’s my own investment banker estimate of the situation...

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

The "problem" with the HH revenue is that it is re-invested in the HH programme, so does not appear as revenue in Alba's books.

If you want to trade, you select a liquid stock.

UKOG is a liquid stock, it means traders can get in and get out without weighing too much on the share price.

At the present time, ANGS is not a liquid stock, it is, therefore, not the kind of stock to attract traders wishing to deal in any kind of size.

PS: total volume of 3,058 shares so far this morning.

wealdpwr,

Have you taken note of daily volume in ANGS at the present time?

22m shares is a difficult quantity to trade (and, as you say, as a former investment banker, the gentleman will be very familiar with the problems posed by liquidity).

The market cap exceeded £300m, briefly.

YL,

We've had this conversation before.

You say: "MM's and traders are the only folk interested in ANGS right now".

But there's nothing to suggest R Labrum is a trader.

We don't agree, but, at least, our exchanges are civilised!