Member Info for ocelot

If one adds in the £2.5m received re Saltfleetby (which, admittedly, needs to be held in reserve until the Saltfleetby projet has advanced further), then the current market cap of £7.3m reflects, to a significant extent, cash.

Think their cash position may actually be quite comfortable.

In its interim report, not only did management speak of funds "sufficient for the expenditure to date (RNS of 24/06/19) as well as the planned forecast expenditure for the forthcoming twelve months" but, a few days later, planned forecast expenditure on Brockham must have been subject to downward revision!

The aggregate shareholding of George Lucan and his connected parties in the Company is now 2,174,880 Ordinary Shares representing 0.40 per cent. of the Company's issued share capital.

he Company has been informed that Anne-Sofie Lucan, the spouse of Managing Director, George Lucan, on 25 September 2019 purchased 719,082 Ordinary Shares of 0.002p each in the Company ("Ordinary Shares") at a price of 1.384 pence per Ordinary Share.

Extract from interim report:

... the Directors have reviewed the Group’s working capital forecasts for a minimum of 12 months from the date of the approval of this financial statement (RNS of 24/06).
As at 31 March 2019, the Group had £941,000 of available cash. Subsequent to the period end, the Group raised £3m gross for the issue of 70,824,700 new ordinary shares for working capital and acquisition target.
Based on the current management plan, management believes that these funds are sufficient for the expenditure to date as well as the planned forecast expenditure for the forthcoming twelve months ...

Can happen to any of us :-)

Totally different loan!

I was talking about the £3m facility with YA/Riverfort.

That's it for note 29, Subsequent events.

Care to give a note number or a page reference.

Extract from the annual report published earlier this year: they still have £1.5m of the £3m facility available to them:

29. Subsequent events

... On 10 January 2019, the Company entered into a £3m loan facility for the development of the Balcombe field...

On 15 February 2019, the Company raised gross proceeds of £2,200,000 by the issuance of 55,000,000 new
ordinary shares of £0.002 each in its share capital. The Placing monies was used by the Company to pay down
£1,500,000 of the YA II PN Ltd and Riverfort Global Opportunities PCC Limited loan facility, ...

They raised:
1) a net £700k after repayment of the initial advance from YA/Riverfort (RNS 15/02); and
2) another £3m+ (RNS 30/04).
They received £2.5m re Saltfleetby (RNS 16/07, although this amount will need to be held in reserve pending further clarification about the Saltfleetby project ).
They still have a £1.5m facility with YA/Riverfort.

They raised:
1) a net £700k at the time (RNS 15/02); and
2) another £3m+ (RNS 30/04).
They received £2.5m re Saltfleetby (RNS 16/07, although this amount will need to be held in reserve pending further clarification about the Saltfleetby project ).
They still have a £1.5m facility with YA/Riverfort.

I should also like to take this moment to remind shareholders of our forthcoming shareholder update meeting and presentation followed by a Q&A session on 30 September 2019 at 17:30 (U.K. local time), at 1 America Square, 17 Crosswall, London, EC3N 2LB immediately following which our online investor communications portal, which allows for questions to be posed directly to the Board and viewed by users, will be up and running."

Rupert Labrum: 3.08%
JTP: +0.77% > 5.02%

Any more for any more?

They've bought Tellurian's 35% since that %!

DhC,

Given GL's broad-brush figure of 4p per share for the potential value of Saltfleetby to Angus,
think you could well be right that there will be those "happy to turn up for the drill and pay 4p and 5p for their Balcombe entry tickets".

"Up to" 4 weeks, so can be less.

1.35m shares is about 0.25% of the capital.

But, in all, he's increased his stake by 0.77%, from 4.25% to 5.02%.

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ANGS/14241404.html

Crossed the 5% threshold on the up.

http://www.angusenergy.co.uk/investors/share-structure-significant-shareholders/

His stake was 4.25% at 11/09.