Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Anyway…..Back in the real world where major shareholders in theory hold or are dam close to holding 30% of the company already. The NSTA February figures have just been released. Gas to pipeline down considerably and water cut up considerably.
https://www.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa
Jezzz…….yea of course you have heard that Dave!!!
The only place that has appeared was from the complete fantasist RT00 pool boy from his Olympic size swimming pool.
I heard it was UKOG putting a bid in! About as trustworthy a comment as yours and also totally made up!!
Done more than my fair share of research IBUG thanks.
I didn’t fancy coming to your 2020 party as most of the guests were liars, just plain mad, or thought sitting outside an oil site for days on end was classed as fun!……..I may be a bit early to the new shindig! Is it get well soon, or is it going to be a wake is the question now?…..looking forward to the reading of the will to see who gets what if it’s the later!
I’m glad I can put a smile on your face but, I’m guessing that’s a rare occurrence?….only I mentioned the permissions in place from the EA, and the planning permission required, the transport costs are minimal compared to disposal via incineration, and Angus used to transport the waste water from Lidsey to keep the pressure up at Brockham until permission was withdrawn as Angus failed to answer the EA,s questions on a couple of times of asking. I’m intrigued as to what you mean by water treatment though?…..are going to use it for water boarding the management as they pour it down the injectior well?
You’re an absolute delight IBUG! You must be popular at parties?
Simply pointing out that water disposal at Brockham could be mutually beneficial, or make casting an eye over one another's assets makes a lot more sense than spending 100s of thousands on downhole works at present. The bad blood between previous directors at the two companies is surely passed, as the Angus Board has all but changed bar Mr Carlos Fray Bentos.
Did you get up on the wrong side of the bed ibug? I simply pointed out that water disposal in UKOG case costs a fortune and they haven’t paid to sort it out yet, and Angus requires 150 barrels of water a day for 8 years to get the pressure to extract from the Portland. I’m sure it won’t have slipped the attention of the Angus board as theysearch for investment opportunities as they are neighbours and actually drilled the well in the first place!…….not than they can afford any expansion either.
I was referring to Angus not having planning permission at Brockham Ibug. If they could dispose 150 barrels a day at Brockham it would be win win. Angus increases the pressure in the reservoir and UKOG or whoever controls HH at the time wouldn’t necessarily need to drill that injection well…..just a thought.
Just to add they have Environmental agencies approval for injection. Still can’t see an application for Planning permission for injection yet however which they require. …Birds of a feather these two.
ILS
Just a thought but Angus have an injection well at Brockham that desperately needs 150 barrels of water pouring down it fairly shortly to support the pressure. Could be a no brainier if it suits both parties?!?!?
Why exactly do you think Balcombe is going to be a good thing Barney? It’s just another expensive they can’t afford at present. The first part of the 2 stage testing program is 100% at Angus expense (at least 750k) and in the unlikely event that the fairly tale Kimmeridge play actually delivers (see mr Herbert’s less than optimistic comments regarding Balcombe) They move onto stage 2. In all likelihood this will also be at Angus expense at a cost of £3 million for site upgrades. See the planning permission documentation for details on cost, as the deal that Cuadrilla states they need to prove commercial quantities of oil before Quadrilla start paying their 75%.
And I hope you do realise that this is just the testing phase and the NSTA will place limits on production as they did at Brockham! It will actually cost money for the duration of the test not make them any money. Then if it was to prove successful they have to go back and start the whole planning process again and apply for a production license from the county council. No hope of them approving that as they voted unanimously to reject the test phase. 5 years away at least before Balcombe could show any sign of making money…..and that scenario is a very faint possibility.
Oofy
My comparison was very much tongue in cheek, as I assume your last paragraph is?
After all the recently departed chairman wasn’t in any way involved when as head of NMC audit committee the poo hit the fan was he? And the other recently departed “Lord Melton Mowbray*” didn’t come from 20 years in finance before joining Angus with zero oil and gas experience? And the founder of the company Johnathon Tidswell Pretorias who bought Lord Lucan* didn’t also have to resign after his share dealing scandal with the Polish 21 year old from America2030? Isn’t mr Zielicki an expert in such matters also? Not to worry I’m sure mr Forrest will keep an eye on them….hold on a minute, wasn’t handed Saltfleetby Energy on a plate and given £12.8 million, despite being a one man entity with just £80 odd grand in the bank?… and isn’t he an accountant?…….no your right no hedge contracts here either….they aren’t keen on sharing details of the new ones are they? And the issued a completely bogus RNS regarding a payment on the last lot. Yes by insiders I’m guessing you are referring to Aleph (who are paid as advisors and a director is allowed to sit in on meetings) haven’t they made a fortune from arranging all those deals?….apart from the original £12 million one that GL assured in an interview they didn’t need despite having been in talks “with a well known bank” months earlier…..that cost them £300k as they were taken to court over unpaid fees as I recall.
Yes they do things differently in the US, but isn’t that where Alephs ultimate holder originates?
SeemsLukeWarm
My memory was slightly out. The first issue of equity was at 0.66p. The question is, will Aleph who hold the 300 million warrants would consider the £20 million loan deal they arranged as being inside or out of the “issued during the term of the Bridge Facility”… My guess is they will consider it part of the deal and the warrants are Exercisable @0.40P. I hope this satisfies your honourable character question?
Financing, Corporate Update, Issue of Equity & TVR
21 July 2023
The Bridge Facility is priced at SONIA (Sterling Overnight Index Average) + 15% . The Company will also issue 300 million 3 year warrants to ACL (or associates or parties nominated by ACL) at a strike of 1.5p per share, for which authority will be sought at the next general meeting of the Company. The warrant strike price will adjust to the price of any equity issued during the term of the Bridge Facility if such equity issuance is at a price which is lower than the Warrant strike price. The Company is not planning any issuance ahead of a refinancing.
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Equitisation of £3m Junior Bridge Facility
28 Sep 2023 10:23
· The Company's 12.5% shareholder, Kemexon Ltd ("Kemexon"), has agreed to convert its £3m Junior Bridge Facility, together with interest and fees, into equity in the Company at a price of 0.66 pence per share. Kemexon has also committed to a one year lock-up of those shares.
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Results of General Meeting, Issue of Equity & TVR
30 Oct 2023 15:51
Angus Energy (AIM: ANGS) is pleased to announce that at the Company's General Meeting held earlier today all resolutions were passed. Accordingly, and as previously announced on 28 September 2023, Angus will now issue 516,033,308 shares at 0.66 pence per share to Kemexon Ltd (the "Kemexon Shares").
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Issuance of Fee Shares and TVR
6 Mar 2024 07:00
“Aleph Commodities Ltd received a fee for structuring and assistance in securing the Trafigura £20 million Loan Facility of £750,000, to be satisfied by the issue of 187,500,000 new Ordinary Shares at 0.40 pence per share”
SeemsLuke Warm
I’m late for an appointment so won’t be able to dig out the exact wording until later. If yo check out the 2 RNS,s relating to the Bridge loans the details are in there. The price dropped for the 300million warrants to the price the fthat they issued new equity. It s either 0.61p from memory or 0.4p depending on how you interpret the latest £20million loan and if the 0.4p figure actually counts.