Member Info for ocelot

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

15 is more than I had imagined.

They do seem to have been pretty open with their answers to the questions asked.

Agreed, Ja51, that they need sustainable cash flow to service them.

PS: this is to show that they are prepared to envisage alternative sources of finance.

Note this, too, from note 22 of their last annual report:

The Company intends to issue Bonds when a need for finance arises, in order to progress its plans for the development of its licence portfolio, once the well(s) provided for in its work programme in relation to each of Brockham and Lidsey have been drilled using the AIM Proceeds. Once the well(s) have been drilled, proceeds from the issue of Bonds can be utilised to move forward the cash flows of the Company's production asset(s) in order to accelerate the Company's business plan. Financing the development of its licence portfolio in this manner rather than by the use of cash reserves or the issue of new ordinary shares will allow the Company to increase the value of its production reserves and avoid shareholder dilution.

Approx £3.4m in hand as of 01/10 (RNS of that date) + £1.5m facility with YA/Riverfort.

From Torreaguas's notes of Monday evening's meeting (posted at 21:43 on that evening):

"Another opportunity being looked at".

Little more may happen re Balcombe in the immediate future, but there can be news of other developments.

With the passage of time, too, one can see how sentiment on this board is gradually improving.

In the immediate aftermath of the Brockham RNS, there were a few dire predictions of the imminent demise of ANGS.

Now, it is more a question of time horizons, of when their projects are likely to advance.

Whether you are a member of camp 1, 2 or Scarface72's 3 is essentially a reflection of when you bought into ANGS, camp 1 being those who bought in after the Brockham RNS of 28/06, camps 2 and 3 being those who bought in before.
As time goes by, more and more will find themselves in camp 1, that's just a question of the passage of time.

YL,

Suspect you had already been included in camp 2!

Not so sure how many dreamers there are, but certainly agree, Icarus69, with your split between:
1/ realists;
and
2/those that are so ****ed off with everything Angus they’re not prepared to even consider any potential positives on the horizon.

Not for the year to end Dec 2018 but for the 9 months to end September 2018, to coincide with the accounts of the parent company, UKOG.

The market anticipates, it won't wait 3 months to do so.

seadoc,

But we already know that HHDL is in loss, even if we don't know the precise figures, because it's UKOG's principal operating subsidiary.

On 2nd thoughts: I imagine your comment was tongue-in-cheek.

seadoc,

Of course, HHDL's figures will show a loss.

It's UKOG's principal operating subsidiary and UKOG is showing a loss.

If the additional time taken by ANGS facilitates WSCC's review of the application, then that is all to the good.

Angus Energy plc (AIM:ANGS) is pleased to announce that, following the seven day statutory notice period, planning application has today been submitted to West Sussex County Council for an Extended Well Test at the company's Balcombe site on Licence PEDL244. West Sussex County Council have up to thirteen weeks to review the application before a recommendation must be made by the Planning Officer for or against the proposal.

There's a debt overhang (of £4.5m) but it is in no way "massive", given UKOG's market cap of about £64m.

Hope you make it safely into port, seadoc!