Errors in Alan's Analysis22 Jul 2020 14:06
Hi Alan,
I was just looking through the analysis of George Lucan's interview that you did the other day. On a superficial glance it seemed to be a reasonable bit of work but as I actually watched the video and followed your links I saw that there were a number of errors in it where you had left out key factors that meant that your conclusions were flat out wrong.
The first of theses was the first point:
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@1min 11secs - GL: “one of the decisions I took was to diversify slightly away from exploration and into production and last year we acquired a formerly producing gas asset, which was once the largest onshore UK gas field and that had been stranded.” Once again Lucan is WRONG, as Angus have been promoted from Day 1 as not being an Exploration company, but a Producer / Development Company, hence the title of the above presentation
“Proven UK Operator, Producer and Developer
IPO INVESTOR PRESENTATION NOVEMBER 2016”
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However if, instead of just looking at the title of the presentation you actually bothered to read it you would see that on page 5 there is a big section entitled “Exploration” where it says explicitly that the company’s intention is to “EXPOLORE Kimmeridge Limestones at Brockham”.
Would you like to comment on the fact that it is not George Lucan who was wrong but rather yourself. The Developer in the title clearly refers to the exploration that they refer to on page 5.
Shoddy analysis Alan. Do you have much prior experience in the O&G industry?