Member Info for WG818

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.

Just looking out for the little guy Gordon! So many people have lost money they can’t afford by believing some of the tosh posted on here by those deliberately trying to deceive.

DaveyShares

I am more than familiar with the financial situation at all the companies within the Angus group. They made a loss. It’s all available from companies house for all the Angus offshoots if you care to look.

If you cant be bothered I suggest you have a think on why a company that Tony thinks made £117 million profit needed to take £9 million in bridge loans, and added a couple of Billion shares to the register during the period.

I should also have a look at what the 300 million warrants available can be sold at before anyone gets carried away and trapped on the spectacular rise yesterday with seemingly no justification.

I think you had better read the accounts again Tony!

3. Profit/(loss) for the financial period

The Company has taken advantage of section 408 of the Companies Act 2006 and, consequently, a profit and loss account for the Company alone has not been presented. The Company's loss for the financial period was approximately £5,475,000 (2022: £2,168,000).

Really not sure what has occurred today as nothing seems to have been reported or changed, but I would expect an RNS from the company in the morning with an explanation.

Oofy.

Little mention either of the essential planned workover on SF4 either that will drop production considerably whilst it’s carried out.

I don’t think anyone picked up on the fact that the new drill at Saltfleetby slated for the end of this year has now been pushed to the middle of next year, or the fact that the new compressor package is now not October delivery but now Q4….thats Next year then if any previous timeline supplied is to go by.

It’s again mind boggling that they are only now applying for planning permission at both Brockham for water injection from elsewhere (good luck with that), they have had 3 years to do this!, and at Saltfleetby also. I think looking back they will also have to apply to the EA for permission and that cane take over a year!?!, perhaps that’s one reason for the drill being pushed back? And of course the fact that they can’t actually afford to do it at a cooof £5 million listed in the CPR ( that also seems a bit light following the previous drilling disaster).

Yes it seems Wingas had a far better understanding of the situation when they gave the field and what appears to be £12.8 million to a one man band with £87k in the account when they walked away.

Ocelot ……Birds of a feather?

March 28th 2024

Trafigura pleaded guilty to conspiracy to violate the anti-bribery provisions of the FCPA. Pursuant to the plea agreement, Trafigura will pay a criminal fine of $80,488,040 and forfeiture of $46,510,257. The department will credit up to $26,829,346 of the criminal fine against amounts Trafigura pays to resolve an investigation by law enforcement authorities in Brazil for related conduct.

It’s awfully quiet on here today considering the comedy fest presentation last evening…..I wonder if unbalanced watcher is also on jury duty? Not an insult thrown all day!

Just how they expect anyone to believe they made the claimed profit is mind boggling!

Lord nine digits has departed then! Not really a shock. Just Carlos Fray Bentos to go and the purge of the dross is complete.

Tony

You seem a tad confused. The 300 million warrants I am referring to are from the bridge loan. Nothing to do with new shares.

Interestingly enough “should the company fail to make any of the above cash” the funding RNS seems to suggest that the interest rate would rise to 20%!

The £200 million gas storage price tag is of Public record. See a link in my posting history.

Facts and figures are hardly being negative, they are just facts. What’s your opinion on 0.66 or 0.40 for the warrants. Take your time to do the research!

Earl, you seem to have been round the block a few times?

Any thoughts on what those 300 million warrants that are able to be converted at? Is it 0.66p or 0.40p after the funding RNS announcement and the issue of equity at 0.40p listed?!?!

I’m guessing you haven’t got an understanding of the costs involved in converting the field to storage Earl?

It was circa £200 million back in 2013 when Wingas looked into it and decided against proceeding, you could probably double that. Cost now!

I think you forgot the “a” shouldn’t that read “expected raise”?

Comedy gold by onetomany!

Who exactly is forecasting uk natural gas to go above 100p soon? Historically it will fall about 20% from now as we go into the summer months.

Yes the re-rating is under way but just in the opposite direction you are hoping for, and as for a “pr Blitz” well withdrawing the monthly Q&A tells you all you need on that score.

Focussing on the CPR is actually a good idea as it tells us the figures the used to do the Maths. The forward gas prices were more than double what they are now, they had £9 million to spend this year alone on essential work just at Saltfleetby, CAPEX costs of around £400k a month and a monthly figure of just 7mmscf for production. Then £2 million on costs for the other assets and general expenses.

The Oil assets will cost half a million minimum for the basic work at both Brockham and Balcombe. And then another £3 million a piece for the secondary stages should they get to them.

I guess as they haven’t mentioned Lidsey they will be relinquishing the license that expires at the end of the year, so add another £400k for de-com there as well!

So only skimmed through this but doesn’t the issue of all those new shares @0.40p mean that the 300 million warrants issued in a previous raise are now available @0.40p also?

It seems very lacking in detail to me.

I would also expect that any finance deal struck will be accompanied by changes in the board members including the chairman Lord 9 fingers. And Carlos Fray bentos the financial director, thus giving the company an effective new start.

The only achievement they made, is the fact they managed to pull the wool over mug punters eyes that the project would only cost £2.5 million!!

The new essential compressor package has the same price tag £2.5 million.

Either Lord melton Mowbray with Zero oil and gas experience was lied to by those who bought him on board at the time he gave those first interviews (available in the media section above) or he was serially incompetent as he carried on in every subsequent interview to give misleading, inaccurate, false, and downright dishonest information.

Been looking in but not commenting for a while now.

I would point out that the final clutching at straws (Major partner for gas storage) was actually put to bed in the last ever Q&A. Ditto that they pushed the finance negotiations (as that is all they are at present) were pushed back to the end of Feb!

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With the global finance sorted, can you please confirm what the priorities will be for the board for 2024? Asked on 1 February 2024

Once the global refinancing has been completed, anticipated to be by the end of February,

“ 3. Initiate a project to evaluate the longer-term potential for gas storage or gas disposal at Saltfleetby”

So far from a major signing up, they haven’t even got to stage of looking into it!

Gas down to what the company said was a break even price, and the drop of rate falling again to just over 7 mmscf, and SF4 due to be taken of line for new essential work, don’t hold your breath for the end of Feb either .

“Richard is too busy white washing GL sins.”

He’s going to need a bigger brush!

The trouble is, (as I annoyingly to some keep pointing out) is they have 300 million warrants available at 0.66p available to convert!! And that’s without them doing any sort of raise, which would then drop the price off those 300 million warrants to whatever that may be…….be it for Balcombe Ocelot, or that long forgotten Geo- thermal fairytale, in fact I can’t see anyones, apart from Aleph liking it as you suggested at the weekend Ocelot.