Member Info for OofyProsser

Apologies - Mirasol, not Marisol. This isn’t a fistful of dollars - though investors may soon wish it were.

I agree with you, Marisol. A defaulting company does not renegotiate its debts - its creditors do.

This chap’s posts are so dim, I can only think he’s trying to provoke rather than to engage in rational dialogue.

That large fall in the gas production numbers (for which many thanks) will almost certainly be due to annual maintenance.

The leak could as easily have come from your employers, Ocelot. The motives for employing new Directors at a time like this could have any number of possibilities.

Oh dear, this is getting worse. Mr.Zielicki may be in Egypt or Morocco discussing the future of SDX Energy, where he was injected onto the Board by Aleph shortly after Angus first availed itself of his services. Who knows where he is?

As for the “leak”: we don’t know where that came from. It could have been close to home. Who’s going to give a bust company an energy asset in the Gulf of Mexico that’s making a profit? Unless it’s about to run out of oil/gas and leave them with another de-commissioning liability.

In previous years, Angus have closed down production for a few days in mid July for annual maintenance.

One to many, I hope you will stick to your statement that this is for the last time. You continue to paste pure drivel.

Onetomany: presumably you voted Labour in the last election. Always wanting to spend money you haven’t got on projects that won’t yield a return. Fortunately, the Angus management can’t tax shareholders, though they can render their investment worthless.

Where do you suppose Angus is going to get money for coiled tubing and/or a well? Who is going to give them all these profitable oil/gas assets? If coiled tubing/velocity strings are the answer, why have they invested £4 million in a booster compressor that doesn’t seem to have added any value?

Angus is bust. In default. The business may survive but the shareholders won’t own it.

People have short memories. Actually, nothing was heard from “Erbert in the last 11 months of his tenure.

As for why they don’t pull the plug now - they’re still getting paid, aren’t they? And the list of Directors is about to get a fair bit longer. Not content with their fees at Corpus Resources and Rocksavage.

Mirasol: would those be the Angus shares he received in the sale of SEL at a somewhat questionable price?

At least he resigned as a Director BEFORE he started selling. Unlike Jonathan.

Ocelot: re Mr. Forrest,,what point are you making?

Yes, Ocelot. And just look at it. Capitalised at half a million, after a placing last month to raise £200,000. A CVA completed in February. No turnover and making massive losses every year. Advised by Jonathan Tidwell-Pretorius and Andrew Hollis. A full house.

Ocelot: re your distinction between CEO and COO, the 2006 Companies Act says as follows: :

“ 278.Section 250 defines a director as including any person occupying the position of director, by whatever name called. This is the same as the definition contained in section 741(1) of the 1985 Act. The Act does not attempt a more detailed definition of a director because it is important to ensure that the term is applied to anybody who exercises real power within the company, particularly in relation to decision taking. The term “director” therefore includes:

an executive director who has been properly appointed by the company;

a non-executive director who has been properly appointed by the company;

a de facto director (that is, a person who has assumed the status and functions of a company director even though he has not been properly appointed).”

Mirasol: of course, I’m not suggesting that this is the case with Angus, but trading while insolvent can carry serious penalties for a CEO. I wonder if Carlos is considering his position. Non-Board Chief Finance Officer might hold more appeal, particularly with Jonathan as COO. Presumably there has to be someone in an executive position on the Biard though.

Yes, Mirasol - quite. I hope Carlos has got the Company Seal under lock and key.

That WAS the official update, Onetomany. They’re all fighting over the entrails.

Not necessarily the RNS that Ocelot and onetomany anticipated. New non-executive directors to protect the interests of their principals and Jonathan Tidswell-Pretorius as proposed non-Board COO. Apparently he’s Paul Forrest’s chum, not the Earl of Lucan’s.

I agree with WH818: it’s harder and harder to see how Angus will emerge from suspension. Those lemmings will at last have to accept that they’ve got a loss.

What?

Oh, Ocelot, please…

That’s what Mr. Trump wants to call it. Most people in the USA don’t want a name change and the UK government is ignoring it. It’s the Gulf of Mexico, onetomany.

Why “Gulf of America”, onetomany?

Ocelot: if you listen to MrZielicki’s interview with Malcolm Graham-Wood On 19 August last year, you will hear precisely the same spiel. Nothing‘s happened in the interim, other than Angus spending all its cash and its shares being suspended. Oh, and its chief executive officer resigning with immediate effect.