Member Info for simonalexsmith

Exactly my thoughts Jamesy, loads of upside and change potential for the future in regular energy and fracking potential. The lack of update and strategy on Geothermal is a disgrace tbh and the BOD clearly lack in dynamic ingenuity to bring in new investment and inspire current investors. £12m and counting with little to no explanation. Very annoying. If the fracking opportunity yields with a new government this will be the next thing to circumnavigate the moon! GLA

Well the gas is still there now SM so I guess now we can capitalise if they get a decent deal on the finance, MOU and the further prospect of another well.

Annual accounts due within a week and a half so we should get an idea then as we know the income levels and they haven’t paid at least the first instalment of the loan. Should have some dosh in the bank.

Agreed in parts of this HITS but I will say that given the energy security issues we now have in the UK that was never an issue until now has got to make the storage possibility a decent value and plan? In addition, pricing will stay elevated for a while even after this war is done. Government need a change of policy clearly! As for ANGS well they are earning considerably now with small hedges compared to output - that makes this a highly cash generative site currently and for the near term. Not good they haven’t reported as previously on the similar date for their Annual Report and the financial discussion should be already agreed in principle, you would expect?

Https://www.gbnews.com/money/keir-starmer-urged-reverse-north-sea-oil-policy

My thoughts on this are that in slight agreement with a lot what Bubblepoint has said due to liquid issues and residues. In my mind this overwork should have been done a long time ago. It (hopefully) will get the site producing somewhere near where the CPR had suggested?

The big elephant in the room for me is where the money has gone totalling , production since start and the borrowings. Bearing in mind some of the borrowings were supposed to payback the debt. That figure tots up to a few quid, any guesses the total of this figure from the experts?

This suspension is a joke!

well in honesty they need to advise the market either way and unsuspend following the self-induced removal from the market that they claimed was due to a company (leak) or rather linked twitter poster! to think shell are involved in this **** show beggars belief!

That’s the exact point Mirasol, the self declared value of assets, production value and that of MOU agreements is considerable yet they state in a second breathe there maybe material uncertainty to continuing to operate as a going concern due to the finance agreement. Rather contradictory and sets the alarm bell as did the warning of potential strike off after 6 months of suspension. Almost as if it was planned for the term. I really hope they manage a deal somehow.

GLA

Surely a red flag must be raised if the public declared asset value today is £81.96M and it gets washed out for a £20m debt, that may have had a small amount repaid? Not to mention the companies future value of a signed MOU for storage?

Interested to hear this and the last message from Investorjonny - if this is the suspicion of the market due the the action of Angus Directors, this is clearly fraudulent activity- has anybody made any complaints of this nature to the BOD or the FCA / London Stock Exchange or similar? If it turns out to be a true accusation clearly again all Directors action historically to the Trafigura deal and perhaps further back are implicated and answerable? Hope this isn’t the case and Angus pull something out of the hat! Time will tell!

Haven’t you written to them / him asking this?

They had said the RTO was agreed - does this new public information damage the potential of the RTO in the eyes of the successful oil producer. Sounds like nonsense to me!

I am more worried that the company knowing its responsibility to shareholders made such a warning given its out of the blue RTO. Scaremongery to boot after it was made aware that eyes were on it given this in addition to the BOD's useless efforts has been managed down professionally since sidetrack. Need to get their arse into gear and be loyal to the investors. The business has a lot of asset and all this stinks of greedy paws, the whole thing. In proper hands this was a good investment!

OP - Again more nonsense "There’s 17 working days left before either some agreement is reached or the shares are de-listed" - a very slim possibility but many more other AIM stocks still suspended after a 6 month period. It depends what case the business puts forward to remain a listed entity to the governing body. A scare tactic unnecessarily placed on the removal from trading RNS by the BOD. Who again I will reiterate are culpable. Albeit, they may pull a rabbit out of the hat!? Let's see!

BP, I appreciate the negativity as the BOD and business deserve it as their conduct has been nothing short of shocking. I will say though that the price of gas currently makes little difference as the majority of production is hedged albeit not for too long in the future. Let's hope they come back with a believable scenario and adequate justification?

This was posted onto Star Energy page on here. Could bring for a beneficial and easier future landscape.

https://www.politico.eu/article/uk-treasury-oil-gas-windfall-tax-growth-november-budget/

I think last half a dozen RNS announcements were signed off by the FD if I’m not mistaken. However, I am aware that KZ is still in place in his interim position and co-ordinating the operational strategy since Herbert’s departure. Not that it makes much difference until the next announcement and return to trading!

Very much part of the plan I’m sure- I would even go as far as to say that it’s the fundamental reason there is an MOU with Trafigura for post extraction storage. Albeit there was a mention from Herbert that there was mileage in a blended possibility Natgas/ Hydrogen.

Value of this for storage as a guide was estimated week in. Excess of £400-£500 Million quid..

The badgers and badgers hate this potential so I expect incoming mud!

As I have said all along Mirasol, the company more-so than ever need to give a market a good understanding of where the money is going and what the cash / debt position looks like? Let's hope either way they do!

In terms of asset value Ocelot, I would say your £200m value is very conservative. That given the fact that the reserve is probably well beyond 2050 -2065 of production. Not even considering storage value which could double that figure. The failing Labour government and its energy policies, extended Ukraine conflict likely and energy security more in the forefront of peoples minds is more real than ever. New councils pushing in Lincolnshire for Fracking also mean this is being pushed more in Parliament is almost a certainty under a Reform government.

With regards to default, I agree with Ocelot in the fact we don't know anymore on Trafigura other than they are fully supporting all renegotiation and the potential RTO with the company so not in default. Until the company announce different terms!

GLA