RE: WORKOVER FULLY SUPPORTED BY TRAFIGURA13 Jan 2026 15:00
@bubbles how do you explain your comment, retail will lose?
Aside from back and forward about debt and default, what are you expecting as an outcome of the debt restructure, and subsequent relisting?
I believe terms are done / almost done for the lender to service the entire Ā£29m debt and the cash pile amassed will stay with ANGS. All conjecture as we donāt know how many millions they built up and whether workover is debt or cash funded, nor do we know cost of workover. However we will have cash in bank guaranteed, a workover highly likely to be successful and hence much improved revenue, a new manageable debt programme then a future ahead.
None of us can work the exact numbers but I see a rerating, upwards, on relist which will of course be clarified once we see production boost and debt terms. Side shows are the Gulf of America deal and forward plan on additional well(s).
I cannot think of any possible scenario where retail suffer.