Member Info for WG818

JRlomax

It will be at least double the original projection how ever you look at it.

Push2
If the sidetrack is successful then yes know one can disagree…..but failure should be factored in.
The problem here is that Angus have such a dire reputation and form for springing unpleasant surprises, amateurs in investing should be made aware of the shortcomings here. Even taking the Xmas break out of the timescale the Drill will be at least double what GL said.
As for “pathetically Exaggerating” go back over the RNS,s and add together what it’s cost to to get to this point.

Apologies….15% interest 12% plus SONIA sand £12 million ammortized loan….from May 2021.

Push2
The current production would be lucky to break even and is probably running at a loss with the 15% plus being paid on the £15 million loan they didn’t need……As for give them a chance!!! This project is now 2 and a half years late and £30 million plus over budget now!!

A serious question here.
The drilling program goes into week 12 tomorrow.
The CPR gave a figure of £2.8 million to drill based on what we must assume is GL,s 35/40 day program.
(Did they even start again yesterday? The RNS with term Scheduled to start only 2 days later was odd)
Can we expect another raise after the hastily convened all but EGM on the 9th to pay for the overrun. After all the 2 Million they say they have paid down on the loan can’t possibly have come from income with OPEX,CAPEX and the general expenses from elsewhere in the company? They won’t even have been paid for a significant proportion the product yet!

The new shares they said were issued aren’t showing on the website and until they get permission they can’t issue any further ones. How are they proposing to pay the £1.4 Million CLN that’s looming fast. Only a month before that needs sorting one way or another!

“Forrest”

V-I-I
Yes quite right. And for anyone in this more than a few months it’s quite clear that there are definitely two classes of shareholder.
Mug PI,s who get little or misleading information and those who are quiet obviously on the inside.
Aleph and affiliated entities who are the companies own advisors and Mr Forry (AKA) Forum Energy who have both sold warrants and shares recently?………doesn’t seem a level playing field does it?

What do you think this means?
“ We had hoped that the costs of rolling the late summer hedges would all seamlessly be met by higher forward prices and this was possible for the bulk of the rolls.”
Issued after the placing RNS!

I should read the Placing RNS a lit more carefully.
if you think £3.3 million was enough to cover the missed production back in August (after the rolling hedge RNS issued in July) would cover the Majority as the Q&A says. You may want to take a look at the forward prices back in August.

They have been unwilling to give any details on this but have previously stated that the missing portion would be rolled into the first half of 2023. As prices have dropped considerably from July and August it’s anyone’s guess how this will be done.

“ Paying down our debt and meeting our hedge commitments are key obligations and clearly production started a couple of months late. We had hoped that the costs of rolling the late summer hedges would all seamlessly be met by higher forward prices and this was possible for the bulk of the rolls. However the lenders and hedge providers took the view that some of the costs of the rolls should be borne by shareholders this year as it is shareholders who get the bulk of the benefit.”

Noel
Then there is the Majority of the missed hedges from July and August to add.

See investor questions.

Push2
Of course Aleph new! They are paid as advisors and one of the directors sits in on board meetings….the 2 new directors where probably installed by them also(see the previous £6 million placing RNS) Ditto Mr Forrest and his months late reported selling……Anyone thinking this is a level playing field when it comes to information is delusiona!!

Just to add the other insider has that £1.4 million CLN to convert by February….most likely at 0.65 if Angus didn’t get permission from him for previous placings!!

Hamsters, GL gave a figure of 4 weeks to install the second compressor package….

Echo.

That’s RT00 pool boys twitter account. He is a proven liar and Fantasist.

Take it with a pinch of salt!

Chimera
You should also consider the £1.4 million CLN and the options outstanding. The CLN has some interesting possibilities regarding the conversion price and the issue of more warrants. Quite a few options would need to be used in the next few months also.

Mmmmm….I see my post correcting the serial incorrect Donek got mysteriously deleted!….how many accounts do you have to manage to do that donk?

So I will post the correction again

They are drilling from SF7, not SF1 as you think.

They were originally going to drill from SF5 and changed to SF7 even after listing the reasons they considered SF7 difficult.

And those failed drills I listed earlier came with links so people could verify they were correct.

You’re awfully close to slander again. For the umpteenth time I am not Ruth Hayhurst, not a woman and have no connection with drill or drop.

Let’s get this right Donk! You think the woman who wrote the article that you posted, will be upset with the article she wrote???……..Are you shared between two villages?

Hamsters18
That’s a fair point apart from the fact that GL is on record saying that the sidetrack was funded but only upto a 10 day overrun on a 35 to 40 day program ( I think he said).
This would put them way over that figure!

Nobody told anyone else to do anything Adrian! You of all people should know that the company is sometimes at odds in its releases compared to the official statistics, like what they have told us Brockham is producing for example compared to what they have told the NSTA……it’s quite different isn’t it?

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