Member Info for SillyButtons

Sageman,

I think Ocelot has answered your questions to me. the hedge was based on production form field and any profit was then split 51/49% with SEL..

Sageman,
that 70% refers to the expected volume of gas in the field rather than the % of monthly production..
based on the 1.5m therm/month figure GL uses from the existing wells, Approx 100% of production will be hedged for first 3 months.. % of production after that will depend on the impact of the side track..

DoneK

this post looked familiar so i looked at your history. i suppose you will be right someday!

"03 Jan 2022 11:02
the charge of the green light brigade
i see green everywhere....
within Weeks we will be producing gas and oil sales....thats all that needs to be said."

"02 Mar 2022 09:53
8 weeks to go
before all equipment arrives on site."

"13 May 2022 09:45
1st June First Gas
SFB on track
oil sales from brockham - imminent
lidsey back on line mid june"

BV,
Apologies for not understanding what you meant.
and to be fair, i didn't talk about the hedge as much as list it as part of other aspects of the deal..
i would appreciate if you could explain but if you dont that is fair enough..

Sorry BV,

I don't understand " twice the asset for far less issued shares don't we at the pre gas price saving millions".
I understand we have twice the asset, but i don't understand what you mean far less issued shares? angus had approx. 1.3 billion shares and are issuing approx. 630 million, (approx. 50% dilution). are you saying that the 51% of SFB we owned represents more than more than half of the 1.3b shares in issue and therefore a good deal?

so your 2.6 sum is based on the SP being approx. 1.3 at the time of the deal and now we own twice the asset, the share price should double to 2.6..

Are you ignoring the cash payments, taking on all debts associated with SFB, all liability for the hedge & associated conditions and twice the exposure to the the side track construction, be it positive or negative, are are you assuming that is all built in to 2.6?

BV,
Was there a necessity for the name calling?
and you are right, that sum doesn't need rocket science, 1.3 plus 1.3 is 2.6
out of interest is the sum in relation to the SP or the dilution or what? :-)
to be honest, I thought there would be a bit more to your mathematical analysis of the deal..

BV,
I will try listen to the interview again this evening, in case I missed something. but,
Does that mean you wont do the sums for me?

Sharebel,
"Silly Buttons - your name says it all! Suggest then you call up each ii and tell them that. Give it up - this is now only going UP!"
Not sure what this refers to in this thread. are you referring to my post to you to look at previous interviews in a different thread?
it was just a bit of friendly advice as your ID is not one I have seen on this board until recently..
don't look if you don't want too... take GL statements as gospel if you wish..

BV,
"you also like pasting HITS posts, it's as if you are the same person lol .".. that statement is funny!

Re HITS, well they stated they are an ex investor in angus so, they haven't been 5 years post about a share they are not invested in.. I was asked this previously and the answer is I don't know.. maybe philanthropy, maybe to counter the positivity only crew, maybe just to annoy that crew, I don't know.. I know i general get more benefit and use from HITS posts than most others though

I would agrees, Rocket science isn't needed to work out the maths for the upside. But all the same, would you mind doing the maths for me? just in case I'm not getting the same answer as you? :-)

Sharebel,
" Literally the interview couldn’t spell it out any louder."

I would suggest you go review some of the previous interviews this year, even have a look at the RNS updates this year..
You may find that what is "spelled out" doesn't always materialise..

BV,
See post from HITS earlier on this thread..
You may notice it is more than one line!

"Speaking of heaps of confetti...

This update from the ANGS webdsite on major holders:-

"The issued share capital of Angus Energy plc consists of 2,283,650,514 Ordinary Shares of £0.002 each with voting rights. No Shares are held in treasury. Therefore, the total number of voting rights in Angus Energy is 2,283,650,514."

Forum Energy Services Limited 27.9% (That's around 637 million shares, which stacks up exactly as per the recent RNS)

Aleph Fin C Limited 7.19% (Hang on? That's only 164 million shares? The same RNS stated that 273 million shares were being placed with Aleph to raise £3 million in tranche 1 of the £6 million placing? Where's the other 109 million shares then?Speaking of heaps of confetti...

This update from the ANGS webdsite on major holders:-

"The issued share capital of Angus Energy plc consists of 2,283,650,514 Ordinary Shares of £0.002 each with voting rights. No Shares are held in treasury. Therefore, the total number of voting rights in Angus Energy is 2,283,650,514."

Forum Energy Services Limited 27.9% (That's around 637 million shares, which stacks up exactly as per the recent RNS)

Aleph Fin C Limited 7.19% (Hang on? That's only 164 million shares? The same RNS stated that 273 million shares were being placed with Aleph to raise £3 million in tranche 1 of the £6 million placing? Where's the other 109 million shares then?"

Jamdo,
No harm they disappear & stay gone, their contributions tend to be limited to one line nonsense statements.. examples form earlier today
"Massive buy! This will Multibag from these levels!"
"Gas gas gas!"

Bottom_feeder,

Best wishes to you to and thank you for your contribution..
Can i ask where you are thing of reinvesting?
Regards
SB

Silverlight, thank you for the posts..
pity you wont stay to debate and back up & discuss your statements.. maybe even provide a few answers to counter what hits is saying..
But then again debate seems to be last thing most want to do on here.. if you can counter the point made just insult, knock and discredit the poster, that seems to be the modus operandi!
You can knock HITS and i know they are no cheerleader for the company but at least they show a thought process and back it up their claims with figures.. most of the posts on here are sniping at other posters, nonsense statements such as " the herd is coming"etc or posting extracts from RNS & interviews such as the 7.2million nonsense, paying down debt by xmas & the other head line statements of GL and stating they are gospel!

i too have asked the questions as to why are the company raising 6 million through a big dillution now even though they are supposedly going to be able to pay off 12 million by xmas? why could they not use the GAS & Oil revenue to pay for it or wait for an increase in SP to minimise the dilluton?
Why would SEL sell and give such a "good" deal to angus?
Why do shareholders get to vote on giving the board permission to issue more shares for working captial and meet the conditons of the loan instead of using the initial placement for those pruposes and allow shareholders vote on the second placement for the Deal?
Why were shareholders not notified this discussion was going on or in progress? this deal wasnt put togehter over the last week?

Because from my understanding , we are on the brink of generating significant revenue, going to be able to pay back 12 million by year end, yet 2 placements already this year for 2 million, GM for additonal shares back in April, GP selling out their significant share holding, a behind closed door deal done which has used up the additional shares and given 25% of the company to our previous partner and now shareholders get to vote on whether or not we give them more to allow them meet the conditions of the their loan agreement and keep the show on the road and will have doubled the number of shares in the company this year!
In return we own 100% of SFB, get another 2 weeks to wait for gas, take on all SFB liabilities & debts, get 3 more directors salaries & expense accounts and have to fund & execute a successful sidetrack in order to make any significant profit from SFB ovet the next 3 years..

I dont see why they did this now, the neccessity for dilution and not giving shareholders a vote on it..shareholders get value from increasing SP and regardless of all the claims of HITS and other deramp on this board, the bod have done more to keep the SP suppressed than anyone else!"

Baits,
See extract from Yanis post
"It is clear to me that people here only want to post positive things and cheerlead in the face of plain negative situations, so is no longer suitable for me."

Obviously, he was refering to the posts from the ramptastic cheerleading 'these greenies' & 'Merchants of doom' that Yanis got fed up of reading and left....

Yanis,
It is sad to see you go and I wish you the best of luck in both your investments and life. You have been a great asset to this board and will be hugely missed.
Best of luck.
Regards
SB

Foxtail,

Why then the need to raise 6 million through big dilution if all this money going into the coffers?

Revenue is vanity. Profit is sanity. Cashflow is reality..

Foxtail
Today 16:12 Posts: 1
Price: 1.075 No Opinion
"It is amazing what some people will say or do to try and recover big losses.

Desperation creeps in in the end I suppose. Especially if they could lose their house by remortgaging and buying shares at the top which suddenly fall back in price drastically for instance?"

Is this directed at me?

Yanis,
as you know the breakdown of the allocation is in the RNS, so i wont repeat it.. but it is part of the reason i am so frustrated..
half of the first 3M is for "Working capital and future acquisition finance " even though we already raised 2m this year for working captial.. and .75m of the raise is to cover SFB overruns.. and the rest is for SEL and getting the deal done..
we dont get to vote on that though..
we get to vote on whether we want to give the BOD permission to dilute further to stay in compliance with the agreement of the loan. and give an additional 0.5m "working captial". even though we will be producing and generating revenue from SFB and have oil sales also..
That will be 5m raised for working capital this year so far, even though SFB was meant to be fully financed in advance.. yet we are going to have 12m to pay down the debt by xmas.. doesnt make sense..
We should have the 2.5m as the first subscription and the get to vote on the deal and giving them more working capital.. Can see why they cant wait for the revenue from gas..

Thank you Yanis.
I have no doubt i will make some mistakes you made and a few of my own, most important is to learn form them and not repeat.. I did see Oktanes wise words and have taken note..
I hope, for both of us, we get to above 2 soon and we can get out..
Regards
SB