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My guess would be proxy owners who have a reason to devalue and erode the value at every RNS or positive announcement. Happened ever since the positive news of the sidetrack at Saltfleetby. Just a thought but I am sure there is another agenda at play for larger players to acquire large volumes at a lesser SP. GLA
HITS - I can partially agree with you on many peoples high predictions and expectations but isn't the Balcombe discovery and original testing one of the reasons you were in this stock? I also understand your bitter feelings that propel you still today due to the constant dreams of jam tomorrow but really? A positive Balcombe decision really could be a different league of opportunity for Angus than Saltfleetby ever has. Even you surely couldn't play that down?
GLA
Here is a link to another RNS that suggests testing of 850 BOPD and up to 1600 BOPD. Worth a read.
https://www.angusenergy.co.uk/wp-content/uploads/2018/10/18.10.02-RNS_-Angus-Energy-Completes-7-Day-Well-Test-at-Balcombe.pdf
Here is a link to the official write-up that in part relates to it being a “sweet spot” and talk of 900 BPD. There are lots of other reports from various times from the earlier days when this was the hot topic.
https://www.angusenergy.co.uk/what-we-do/balcombe-discovery-pedl244/
I agree BP, the initial concerns and the group appealing are still concerned on the fracking side. Fingers crossed it fails as this could re-value Angs overnight as Balcombe can produce serious flow. With Quadrilla this could be up and running very quickly and safely too.
Couldn't agree more Sea7 - very fair and conservative assessment. They do also still have the value of the possible fracking sites devalued/written-back for today's accounting purposes by £30 million. With energy security at an all time interest in Europe / UK and soon to increase unsustainable gas pricing this may one day come back into play?
I must admit OTM - they did seem genuinely perplexed at the current value and market cap / value. This was definitely a resounding endorsement that better times are around the corner. Almost as if the market doesn’t appreciate the current low!?
EBITDA = £17m
I thought he meant 5 x EBITDA?
What are peoples thoughts - stated that the aim is to see the Market Cap in the 100's of millions.
Sorry if this is repeated guys, now showing as this short is closed, anyone know the date this was amended please?
Thanks and GLA
HITS - agreed on most of what you're saying but you always fail to mention the money they have generated since first gas ongoing. Are you assuming that has just been spent and squandered? Might be worth a thought, soon see though in the FR due imminently. GLA
Have to say BP I agree with you here - other than start date and expected target completion as other OG co’s do in a basic RNS. These lot can’t even meet there own update deadlines so any plan they would be sure to get it wrong anyway further damaging investors money. Now they step up a gear into a big deal with Trafigura it’s a different league. Time to stop acting like amateurs. GLA
That SEA7 is the question - company certainly late on the GT update.
BP - oh I fully understand dew point and choking-back. I am sure there are valid reasons for the current flow… these may be addressed by BOD but I doubt it.
With regards to retail upside I do somewhat agree, the BOD could have done more to protect the SP overtime. I hope now though it becomes a more appealing prospect to new money? GLA
Still crabbing this I see BP? That’s a surprise - suppose you already know the dew point on the new well too before it’s drilled hey? Came through again didn’t they instead of another failure predicted by you? Storage too to boot! GLA
BP - De-ramping again almost right on cue - take it you conveniently chose to ignore the revised CPR.
What’s really amusing is that at any price if you did ever re-enter you couldn’t pump away again with dignity! Guess that would be time for another account profile as before? I’m certainly no pumper just giving my humble and factual appraisal. Don’t get me wrong Angus are by no means without criticism in my eyes, that are a damn sight better than most on AIM. This weeks finance all being well should get them going, as you know at this SP they are well under-valued should the terms of the deal not be too onerous?
GLA
BP - I’m not trying to convert you as prior to recent times when you had invested you were a clear pumper and dumper. Bigging this stock at every opportunity and fully positive behind all the company was doing. Now as having sold out you are now an extreme de-ramper looking for a re-entry position or perhaps as some suggest now taking payment for said de-ramping. Your opinion is of zero value to me having seen your true colours nowadays. I will also remind you of the said naysayers, if you look back it is the same ones that said that Angus wouldn’t even hit first gas, then said they wouldn’t complete the sidetrack. Taking it further to the fact that when all these achievements were successful stating they would never make the permanent connection to the sidetrack. That also was completed. Far and away higher in achievements than many AIM oilers.
GLA
HITs - yes agreed and hopefully clarity Friday provides a launch pad for the positive future of the business. Whoever the partner is it would be a bonus to see that reported around a similar time. Just making the point that whilst time has gone on and there has clearly been negativity surrounding this timeline, there are several, unknown as yet, significant upsides that will add huge value to the SP if all goes well. If it turned out let’s say that that possible partner was a business similar to Trafigura for instance, that would be a huge benefit for shareholders moral and the trajectory of the SP.
Ocelot - thanks for detailed info relating to Balcombe
BP - In response to your comments, as you know fine well, even a 25% in Balcombe (in addition to being the project lead) if it flows as previously anticipated can be exceptional? Albeit they may as a business wish to utilise funding or leverage with the other partners to increase that? Who knows? Either way could be hugely significant.
HITS - All quite right as you put it below but spun on the negative side as always by you. As you know though what also is not clear is who is the interested storage partner / what its uses or the value that has as yet. In addition the deal hopefully will benefit over the current one or the effort wouldn't have been put in to this extent, surely.
In addition to the above there is also lots more value possible set to impact positively on the share price which is the huge revenue from Balcombe which will be due very soon.
Just a couple more unknowns that give more balance to your negative perspective for a face value assessment.
GLA - INPARTICULARLY THOSE INVESTED OR SET TO ANYWAY!