Member Info for Sageman

Thus far Alan the net impact of your posts this am are to accuse the BOD for incompetence for accepting £2.5m for work that they could get done cheaper and for being delayed by a national lockdown. I look forward to reading more of your insightful posts!

Alan - re timescales. Not sure if you noticed but we have had a thing called a global pandemic. As a result pretty much all projects have been delayed. The fact that you were correct in forecasting delays last year has little to do with your comments about management incompetence.

Alan so someone hands you £2.5m as being the independently assessed number needed. What credibility would you have if next day you said thanks for the money but we can immediately book half of that as profit as the assessor was clueless? A year later perhaps. Oh silly me we have just had an RNS!

My post was removed presumably by Alan. I refer to the RNS 19/6/19. Angus received £2.5m for decommissioning and said at the time that they felt they could do it cheaper. They did not simply accept the figure due to “inexperience”. The figure was independently calculated.

Making a profit is easy - income needs to exceed expenditure! Lucan is hot desking, video conferencing, closing the Chiswick office and slashing decommissioning costs. A fantasist assumes they will make so much money that they can spend what they like ( Sarah Ferguson!). A businessman knows that the less he spends the easier it is for income to exceed expenditure. Simples.

We have a businessman in charge with his head in the game when it comes to the balance sheet. Profit and loss etc. The previous BOD were not so fortunate. If you wish to see a car crash look at UKOG. They are led by an egotistical geologist who following the death of his Financial director in 2016 has indulged his own hubris. Whatever business you are in you need someone with commercial sense at , or close to, the helm. Lucan is good news, culture has changed. Those who live with their heads in the past harm themselves more than others.

Ian , not a pump and dump as rise on the back of actual news but inevitable short term profit taking. Some very hopeful forecasts here , my 0.5p expectations for 2020/2021 seem modest by comparison yet would still reflect a massive rise from here.

Alba is up based on Gold potential. Nothing to do with Horsehill!

Ian , so you are happy to defend a two faced person that openly lies. He tells you to buy and sells himself.None of his posts have integrity and none can be trusted. Why would anyone even contemplate trying to defend someone so despicable?

Oil riches you named that tune in one. Billy expects the sp to rise as we get towards mid September and the planning meeting. The question is can you dump your shares on the spike before Billy dilutes again? The one thing you know is that Billy won’t be buying any!

Splitting hairs methinks GKB! Many people put shares in their spouses name - same difference.

Billy no shares raised £10.5 m in June/July 2018 before that we were over 2p and had circa 3.9bn shares. That took us to circa 4.6bn. Thereafter he has squandered the money and done further placings etc so that we now have 11bn shares and our sp has fallen 90%. The man is an abject failure and Tymers knows this. We have nothing to thank him for .

Unlike Sanderson at UKOG Lucan spent 30k of his own money buying shares just over 2m with an average of just under 1.4. So for him not just a lifestyle company!

Whilst Neil Woodford was at Invesco he was held to account and he prospered. On his own he could indulge his whims and it was a car crash. There are parallels here once Sanderson was free of Jason Berry. A strong Finance director would never have allowed Sanderson to throw money at unproven assets based on a hunch.

That’s right Tymers only took Sanderson a year to destroy the good work!

Tymers the answer is Jason Berry the Financial director who died in 2016! Sadly post his death that fool Sanderson has had a free license with devastating effect.

Ocelot that is true but in the video Lucan talks about £3m net to Angus. A listed company typically trades on a multiple of profit depending on sector. I won’t speculate on the multiple or the profit but it doesn’t take much to get a market cap higher than the current £7m and for now that is good enough for me to merit my recent purchases.

Following the loan they made payments of 58k in May, June and July with 175k o/s to Riverfort. The next 58k is due on August 24th. Old Angus would let Riverfort have shares, thus dilute and then drive down the sp with sells. Given our normal average volume the overhang would last ages. If the new Angus pays the 58k it shows a different culture but also confirms confidence in cashflow.

Tymers you rogue we all know that when the sp was 11p we didn’t have 11 billion shares in issue. The market cap is a miserable £24m because of serial mismanagement and failure and most of all Sanderson spending money on unproven potential assets and diluting the company into the ground. We all know this so stop trying to deceive people. If UKOG did what Angus have done ie sack the management and start again putting a businessman at the helm rather than an egotistical geologist we may have a chance. Sanderson needs an 80% pay cut with additional based on sp rises but preferable sacking immediately.

Joey, just to give you a flavour Of the scope for the sp in the July video Lucan himself gives a range of values for Angus based on Saltfleetby alone based on different prices of gas. His upper Pie in the sky number using a historically high gas price was 500m. He instantly dismissed this as unrealistic .Given that my hearing is not reliable as proved by my mishear on Mayfair , lol ! I recommend that you listen for yourself.