Member Info for WG818

A couple of other items to add to your list Ocelot!

“2 obvious points for discussion between the parties:

1/ the rate of interest above SONIA;

2/ the exercise price of any warrants.”

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3/ The fact that uk natural gas fell 11% today to 72 pence a therm.

4/ should they be calling this a Bridge loan? After all they aren’t going to produce £6 million in gas and condensate in the 3 months to pay the £6 million back, let alone the £9 million they will need with the first £3 million.

Dan

Thanks for pointing out that my experience here is worth taking note off.

We all have hobbies, some like football, others soap operas that others think are an odd waste of time.

Personally I view Angus as a real life soap opera (only far more entertaining) . I’m never going to recover my losses here but I take some comfort in sharing my knowledge in the company so that other “mug punters” have at least an idea of the true situation here.

Perhaps your time doing your sums would have been better employed in working out the revenue generated on sales yesterday (even with your fictional condensate numbers) and you would have come to a figure that would be less than is required to pay the £6 million bridge loan the RNS,d they were hoping to announce last week, let alone the running costs and other multi millions they owe.

I can’t help feel that you are shooting the messenger here. Perhaps you’re anger should be for the manager who is about to get relegated to the Sunday league, rather than promoted to the premier league as you are portraying?

Oofy

As if to prove my point regarding Bubble point aka Push 2. He replies with 2 blatant porkies. It’s difficult to reply when you’re not logged on you berk, and you assured everyone that you had a non trading pot that you weren’t selling and were on a “free ride”……..As I said “Disingenuous”.

I can’t help but notice your posting style has changed also. Is it a medication issue, or a shared log in and keyboard?

Yes I have also no doubt we will hear from you in “another life” AKA….another user name.

Oofy

It’s quite obvious why BP won’t engage. He got caught out boasting about making £25k swing trading Angus and deleted his account in an attempt to cover his tracks I suspect rather than his childish “I don’t want anyone using my experience” excuse for doing so. He then reappeared as BP in the hope that his brown nodded real and fake followers would ignore the fact that someone with his obvious expertise had led them up the garden path while trading the stock. Someone with the expertise that BP has (in my view) has a far bigger obligation to tell the whole truth, not just the bits that suit their trading strategy at the time. …It’s as some would put it “disingenuous”!

BP is obviously on the wrong side of the trade now and my negative narrative doesn’t fit with his current trading position.

He simply can’t argue with the published figures given and so is forced into childish slurs. This dispute the fact that I have been proven correct in my observations time and time again….My history is there for others to judge…unlike the thin skinned one!

*******er

bp/ bubblepoint and push2 are the same poster you plank! it’s a very well known fact on here and the poster admits it themself!

i can assure you i follow lse rules and only post undone name on this and any other platform i post on…..unlike an awful lot on here who don’t follow the rules.

Apologies link.

Https://www.nstauthority.co.uk/data-centre/nsta-open-data/production/

Ps. the condensate and water is transferred to the refinery and incinerator by tanker, not the pipeline as you suggested.

Rob.

Firstly I will take the Figures from the experts who prepared the CPR. Admittedly they relied on some figures supplied by Angus but I’m still unsure where your 300 million figure has come from.

Secondly Angus up until recently have given a figure of 120 of condensate a day. The figures published on the NSTA website don’t bear this out however. Angus supplies the figures to the NSTA and they are legally bound to be correct. The half yearly gave oil sales (condensate) at 735k. That had to be the condensate as they failed to produce anything from their other Sites. Even if they had produced at 120 barrels a day(they didn’t) that makes your figure of £4Million redundant. You also need to consider that they have issued RNS’s that later prove to be inaccurate, take the Brockham RNS,s claiming 50 barrels a day for example. That turned out to be totally false. As did the Q&A saying it was actually 30 barrels a day due to staff illness. See the link below and the annul report for the actual 0 production rate! …. I think you were claiming £2 million a year profits from that fairy tale as well? Lastly the 160 barrels a day figure added a new world into the distribution “liquids” that would be the water cut added to the figure. That costs £49 a boot dispose of!!

Rob

Even a child can tell HITS and myself aren’t the same person. Hits shares slightly different views and is far more eloquent than me.

As for the figures you just gave!…..well they are total rollocks…. Where has this 300 Million figure come from for a start as the CPR certainly isn’t giving that figure or anything like.

It’s not flowing £100k a day for Angus it was £61k today (Gallders figures)

And it only produced £700k of condy in 6 months see the half yearly.

At those figures I’m afraid it’s not keeping the lights on with the obligations they have built up. And if it is only producing at P90 levels as it looks it’s only going to get worse.

Page 46 even gives you details of the booster compression required next year at a cost of 750k if it’s a P90 outcome. AB a gas engine is listed @ 360k not sure if that’s second hand or new! Production drops to around 8mmscf/d after a year and down to 5mmmscf/d in 2 years falling to zero by 2031.

Page 45

CPR available under prescriptions on the Angus website

Ok BP

So you agree with my figures (dispute describing them as twisted) even though they are those issued by the company. So let’s use Gallders below. If you multiply them by 92 you come to a figure of £5.617 million add being very generous £400k for condensate….let’s round it up to £6 million for the three months……well how are they intending to pay the £6 million bringing loan they are after on the same terms as the £3 million they have already extended by 3 months. They are £3 million short already in 3 months time on paying that back at its 20% interest rate. let alone the £800/900k per month running costs and the other £ 22 to £26 million debt they have to pay in the next 2 years,depending on how you interpret the half yearly?

No BP.

What it has cost SHAREHOLDERS is millions in loans and huge dilution to a point where they simply can’t repay them if the price of gas falls to the levels we are at now. Let alone generate enough money to pay for anything to be done moving forward (sidetracks or new equipment that third compressor etc) let alone the other “hahum” assets or the fairy tale that is geothermal!

I think most long term holders will wincing at your praise for this incompetent shower BP.

A teenager in his bedroom could have done a better job of getting this running with the eye watering amount of Time and money this has taken. They should have been saved by gas prices beyond their wildest dreams, but spectacularly managed to turn this Golden opportunity into a milestone due to sheer incompetence….sceptics may have other views!

I have to be careful because you can’t actually tell the truth about the company’s actions or your posts get deleted!!

No prizes for guessing your back in then BP.

I think those that invested on the assurance of the CEO in the interview available above that all that work you mentioned could be done with the £2.5 million they were given may disagree push/BP….. Have you not seen the share price and the majority of holders well under water?….not to mention the extra 200,000,000 plus million extra shares in issue……and the other 100,000,000 in warrants and options if the next £6 million bridge loan goes through on similar terms as has been advised (today or next week now if they manage to secure it)

How are they proposing to pay that £9 million back short in the short term as it’s a bridging loan by way?, on the revenue generated let alone the other loans and commitments they have?

As for your other figures, what are you basing them on? They owe or will owe about £30 million at present, (depending on how you interpret the half yearly) & have debentures of all the companies assets held over them by the creditors.

And if things are a rosy as you think why did they need that 3 million bridge loan back on March 28th….the accounts show they had cash of £3.171 million. That cash was of course 95% from that Bridge loan taken 3 days previously! They actually owed over a million more short term (within a month or two) than they were owed total at that point also.

And a £5.162 million depleted cost whatever that is!

And you also forgot the cost of sales figures @ £2.356 million!

Ps. The half yearly was for the six months ended the 31st of March this year. Not the first 6 months of this year.

Lol….I think you have forgotten to mention a few things there Ab. Like the £11.5 million they paid to Mercuria in crystalised payments during the six month period And the Missing £4.5 million catch up derivatives payment due in June! What’s happening with that. Also the other 9.5 million from the loan they didn’t need and the 15 million showed as owing (Mr Forrest s money and the CLN are included in that figure however)

They owed £4.47 million in trade payables. Fair enough some would be the sidetrack costs but Saltfleetby will cost £800/900k a month to run.

You then have to add the next £6 million they are talking about borrowing At credit card rates.

at 79 p a therm they are selling les than £2 million a month.

It’s actually remarkably easy to work out how much they are earning. At 79 p a therm as it is now, it’s also easy to work out that they are actually losing money even @ 9.5mmscf with all those millions of credit card rate loans they have and OPEX, CAPEX, and administrative costs.

Shall we re-name it …..£40 million Poundland then?

It was only meant to cost £2.5 million (which they were given) when they paid the 1 pound. (Hence the nickname).

As GL would say “10 minutes on Google” would have told you that was going to be a fairly tale!!

You don’t have to be a compressor expert to work out that a purchasing asecond hand piece of kit critical to the companies future going forward, that broke down essentially only after only a month a half, probably wasn’t a good management call….bearing in mind the £30 million odd owed shortly!