Member Info for ocelot

Depends upon the nature of the information being communicated.

When GL left the board, he remained available in an advisory capacity, especially in relation to the debt refinancing.

This has not happened in RH's case.

Agreed, RH's resignation at such a crucial time suggests a principled objection to something in the terms of the negotiation.

But, even if JT-P agrees to assume "an interim non-Board COO role", an interim non-Board COO is not a CEO.

More than an RNS, a General Meeting of shareholders will be required:

"As part of the acquisition and reverse takeover process, approval of the Company's shareholders in a General Meeting will be required under the AIM Rules. As such, a further announcement with full details of the transaction will be issued at the appropriate time once binding contracts are entered into and an admission document published and sent to shareholders with a notice of general meeting". (RNS of 19/05)

Essentially a share transaction, I imagine, but there could be a cash element as well.

The RNS mentioned below is that of 05/02/19.

"... a highly supportive oil and gas jurisdiction, with STABLE AND RELIABLE PRODUCTION AND LOW DECLINE".

It's almost as if management has read some of the negativity on this board and taken account of it!

"... The transaction diversifies Angus away from the challenging UK energy sector into assets in a highly supportive oil and gas jurisdiction, with stable and reliable production and low decline". (RNS of 19/05)

Assuming the agreement is finalised, Saltfleetby will no longer be the principal focus of attention.

Mercuria hedges restructured with Trafigura as at 30 September 2024:

Period of Gas Production Quantity in Therms Fixed price in pence per Therm

...

1-Apr-25 30-Jun-25 3,750,000 29.25

Hedges struck under the Trafigura Facility as at 30 September 2024:

1-Jul-25 31-Jul-25 1,085,000 86.05

...

If you are interested in PPP, by all means take a look at today's RNS. But it speaks of PPP's predicament alone.

Mirasol,

All I am saying is that Krzys Zielicki praises RH for the refinancing of the company ...

Given the lender is Trafigura, he would be unlikely to do that if relations with Trafigura were severely strained.

Why has RH resigned? The explanation was not provided in this morning's RNS.

"Don't think you would write that if you thought relations with Trafigura were severely strained'.

that post was from Zielicki - has nothing to do with Trafigura".

"That post" was an extract from this morning's Nomad-approved RNS.

"He (RH) was responsible for the refinancing of the Company ..."

The refinancing of the company has quite a lot to do with Trafigura, who are the lender.

Krzysztof Zielicki, interim Chairman commented: "The Board would like to thank Richard for his dedication and hard work in taking the Company through what has been a transformative time in its development. He was responsible for the refinancing of the Company and has set Angus on the course for future growth ..."

Don't think you would write that if you thought relations with Trafigura were severely strained.

Nothing one can add to this briefest of all statements but I for one had no idea that at this crucial time for Angus, Richard Herbert was planning to step down. Operationally with all the recent compressor work at Saltfleetby the field has notched up improved uptime and will get better.

I know nothing about the potential production deal in the Gulf of Mexico nor how it maybe it was this possible deal that affects this decision but with the hedges coming off and this deal strengthening the finances I still remain very positive about Angus.

https://www.malcysblog.com/2025/06/oil-price-angus-afentra-star-and-finally/

Https://drillordrop.com/2025/06/19/angus-energy-chief-resigns/

Given this morning's news, exactly 1 month after the suspension of the shares, it does look as if things are coming to a head now.

Not the RNS one was looking for.

Agreed.

Assume they have looked at a good number of opportunities before the current one, curious to learn more.

Https://www.pm.gc.ca/en/news/statements/2025/06/17/g7-critical-minerals-action-plan

"To complement Angus's organic growth, we have created a strong team to look at inorganic opportunities and are in the process of identifying targets, mergers and development candidates. This will be a strong theme for 2025". (Chairman's statement, annual report RNS of 06/03)

External growth has, indeed, been a recurring theme of Angus for some considerable time.

Without more information, all opinion is speculative so let us hope more information is forthcoming quite soon.

Elir71, any TR-1 will only be released after the shares have been admitted. This can take a few days or more, if the investor is unfamiliar with the rules.