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Yanis
I absolutely share your concerns. It seems beyond belief that outsiders..ie Pis. .would sell their shares in such huge quantities like this....without any bad news being released. It simply doesn't make sure for individual investors to realise losses of 40 to 85% in this way.This is why I'm really alarmed by the possibility that the bod/brokers/institutional investors may be selling because they possess inside information, or are shorting because they have bad inside information, that thus far hasn't been released. If bad news is released tomorrow or Tuesday,it's fairly obvious that insiders have been forward selling because of this.So if this happens,please send the complaint to the FCA!!
Definitely something opaque and suspicious about the way communication has dried up after such a promising start.
At the very least,they should have issued a market abuse rns regarding the huge fall in the sp,-the fact they don't want to flag up suspicious falls and selling us suspicious in itself.It could be that insider selling or shor ting is the reason.BMD didn't hesitate to release one.
It seems to me that the unhelpful ambiguity in the wording of the rns' could also have been written to drive the sp down. George Lucan is a very erudite man-a Cambridge graduate no less,his eloquence and communication skills must be first order.
At the very least,they could have issued an rbs to simply reassure investors that everything is on course.
Yanis
I think he's wrong...3.57p is way undervalued. As I've said,the normal practice when markets value stocks is to factor in known value....Balcombe has proven flows,that aren't factored in.
Even on A.I.M,it's bizarre that this is so badly mispriced in this way.For example,in the case of AIM explorers like Chariot and Bowleven,ESTIMATED reserves are the basis of the company's valuation,YEARS before any of it is actually flow tested or produced!!-Chariots share price soared from late 2017-18 on the basis of estimates. Angus have real,tangible oil that's actually flowed in substantial quantities at Balcombe-and yet this evidence is ignored in this ludicrous share price-whereas oil explorers are wildly upgraded on mere estimates!
GMPH
Yes not just Lenigas-but Angus board through Vonk-way over hyped Lidsey and weald assets in.general.
However,the share price currently is way undervalued now.You're right,the share price shouldn't wildly "anticipate" flows but it SHOULD factor in publicly available information.This is basic market efficiency,and in the main ftse indices,everything known is already factored in to the price.
In the case of Angus energy,a lot of publicly known information simply ISN'T factored in to the share price. We know from the rns of last September that Balcombe slugged 3000 bopd...the rns state's that flow rates had to be "choked back" because the pump wasn't big enough to handle the volume of oil flowing!-so they had to cut back the flow to 1536 bopd,but the fact it slugged nearly double that when it wasn't been choked back suggests actual Brockhampton flows were about 3000 bopd.NONE of this is factored into,or reflected into the share price.The resolution of the water issue isn't factored into the share price.
As I said regardless of Brockham,this is hugely undervalued...should be at least 9/10p
Yanis
You can add a few more episodes of deceit/misrepresentation to your dossier:-
-Angus,through interviews with Paul Vonk in July to November 2017-misleading investors by fantastically over hyping the oil reserves & productivity at Lidsey.Vonk states in the July interview I believe,that he expected Lidsey to produce 1000 bopd-with a minimum output of 400 bopd.Lidsey was definitely glong to be self-financing,so there would be no need to go to shareholders.At the very least this is negligent mis representation, and leaves Angus open to be quite legitimately sued by investors.We all know the story.Lidsey didn't produce 1000 or even 400 bopd-let alone 1000-they produced a disgraceful 40 bopd,with the result that pis who bought in the 20s instantly took a 45% hit,that soon developed into a 64% loss on paper,and many are still trapped here with a 75 to 90% losses.
-Angus,through Vonk again, again misrepresented the timescale and productivity of Brockham.Vonk again reassured us that" the taps would be turned on by christmas".We're now 7 months down the line,and as a result of this second misrepresentation-the stock plummeted from 14p to 3p-leaving anyone who bought in the low teens with a loss of 75 to 80%.
Finally,I really do hope and pray we have good news this week -to confirm that flow testing equipment hasn't arrived on site.
If we don't hear anything-or if it's bad news,then Yanis send the dossier to the FCA.
If we have bad news,then it clearly suggests serious market abuse-insider trading by directors or institutions-who have sold out knowing bad news was coming.
Yanis,if this worst case scenario plays out (I seriously hope it DOESN'T! )-and the FCA obfuscate and stonewall,the next step to consider is legal action.There is abundant evidence of negligent,possibly fraudulent misrepresentation here.18 months ago after the Lidsey debacle and the first decimation of the share price,I consulted a chamber of city barristers who confirmed we would have a case.
I'm looking on the black side here.But if I'm. Correct,it's time private investors fought back against such robbery and fraud.
ATB
Really?-you are the mug I'd you think that..we know from Tidswell that Balcombe flows well,we know that Balcombe flows 3000 bopd,and the gas asset doubles the market cap.
Which one of those facts means our sp will plummet to UKOG levels?
Sorry?-fake news or what!
They have RESOLVED the water issue end of....stop spreading fake news.
I used the info@angusenergy.co.uk and didn't receive a reply
Do you have his email address? -I tried several different formats,but the emails kept bouncing back..
Big Tent
You are talking utter BS.Lucan stated quite clearly that the equipment would arrive in 2 to 3 weeks. .that means early June...so looking forward to it arriving next week.
Of flow testing equipment arriving on site.I hope JTP publishes some nice pics on twitter..
Mirasol
I totally concur.Lucan is simply being ultra cautious,to differentiate himself from Paul Vonk''s cavalier attitude.There is no indication whatsoever of anything "bad" there,people are reading far,far too much in to his cautious statements.
Unfortunately, the share price has "tanked" anyway-and inexplicably-to new lows.MM manipulation has a lot to do with that though, they shouldn't be allowed to short 's stock they're the MM in.
Charlie London
What are you talking about?-please stop this derailing.
Test equipment ordered. .otherwise how could flow test equipment arrive in 2 weeks,exactly ON SCHEDULE!-you don't have to be a rocket scientist to work out that it wouldn't be at Brockham at 2 weeks. .if it hadn't been ordered!!!+...erm no brainer really.
Listen to it again Neeko..I distinctly heard Lucan stare that
"Work on Balcombe will start in August or September"
I will try and find the exact time.
Russell
We've hit rock bottom. .it won't go below 3.50...why the he'll would it?
-flow testing in 2/3 weeks
-Balcombe in August
-Acquisition of asset which will double market cap
The only way is UP here...way way oversold (on technical indicators too),way way undervalued.
What a strange comment to make Russell!
Soon be back at 5 to 8p
What are you talking about???-flow testing equipment has been ordered an's will arrive in TWO weeks!
Didn't you listen to the interview?
This is just deliberate deramping by shorter.
Flow testing will commenced last week of May or 1st week of June.
Sorry that should read:-"Balcombe will begin in August/September"
Neeko
That's not accurate,sorry. Lucian confirms that will start in August/September NOT the autumn (which implies Oct/Nov).
So work on Balcombe is THIS SUMMER.
You're reading things into Lucan''s comments that simply aren't there. The "managing expectations" was simply about the overly optimistic timelines given by Vonk.
He''s not being bearish about Brockham at all,just saying "wait for the results".
He is simply being cautious and circumspect that's all.
Are you trying to short this too???-I can't believe how negative people are.
B2H2sL
I wouldn't call 6 weeks "quite a while"-nor would I call the start of Balcombe quite a while.
Why are people being so negative??????
This is utterly insane....this shouldn't be anywhere near the 3s. ..they've done what we've all been demanding,and conformed the testing kit is ordered. They confirmed testing will start VERY SOON-two to three weeks-so flow test results in 6 or so weeks-maybe an indication before.
Also an oil rich new asset,that will double the market cap is excellent news.The MMs are total ****s,factoring none of this in.Nor are they factoring in the professional corporate governance and clear communication.Lucan revealed that Balcombe testing will commenced in August-not far off now. He is a cautious man obviously and won't make fraudulent promises like Vonk did,but he DID confirm that Balcombe was an outstanding asset and they're expecting a great deal from it.This has already been proved by the flows of 3000 and 1800 bopd last September.
NONE of this is factored in.
Sentiment should be MUCH MORE positive at this stage.
I most certainly would never sell my shares at this price,and anyone who does is extremely stupid.
Yes there were foul ups 5 and 6 months ago,but George Lucan has resolved them,steadied the ship,confirmed no more placings for a year.
For fcuk sake,what more do people honestly want????
An RNS saying what exactly?