Member Info for WG818

Did you not read the RNS Properly then Ocelot ?

“The Company has executed a share purchase agreement to acquire the entire issued share capital of the Target from Forum Energy Services Limited ("Forum" or the "Seller"). “

Ocelot
You said yesterday that Angus won’t now have the controlling stake In AAOG. How did you come to that conclusion? Angus get Forum as part of the deal and we have an RNS telling us AAOG could be potentially buying 25% of Saltfleetby? That massive tax break available in AAOG would surely be a massive bonus wouldn’t it?

Asher
Having watched this company closely for 4 or 5 years it’s hard to be anything else!…..don’t believe me? Just watch any of the LSE interviews available at the top of your screen (including the latest webinar) and tell me anything that turned out to be true?

As has been pointed out. The (E) GM was called so they could authorise themselves to issue all those lovely dilution shares. Yesterday’s deal has been in the making for months!!

Mirasol
The filter button is your friend when it comes to the un-balanced one!
It’s worth pointing out that both Forum Energy Services Ltd and Saltfleetby Energy Ltd new accounts are available this morning fro CH.

Also worth pointing out that the Knowe £1.4 million CLN can be converted from mid July.

And finally it’s also worth pointing out that there will be 2 entities within ( both with information available before us mug punters) who are with in spitting distance of taking this private now!

Once upon a time A Forrest was given a gas field and £12.5 million by the Russian federation……

But they are taking on the £12.8 million de-comm costs also . So it’s actually more like £26 million!!

An amazing deal for a company that only showed £89k in its accounts 4 years ago! See forum Energy Services Ltd at companies house.

Does that mean that Angus will also own the controlling stake in de-listed AAOG now?

Mmmm…….so that means Angus are now liable for the full £12.8 million de-comm cost that Wingas (the Russian Federation) left in the company when Mr Forrest took over then?! That included the 8 mile pipeline de-comm cost.
A very happy P Forrest this morning I imagine!!

“WG seriously everyone knows full well the trolling you do is quite deliberate but seriously you clearly need some psychiatric help.”

That’s a bit over the top RT003! ( and reported)

Is it the fact that I am seeing things that you’re not?
Like the mysteriously appearing control room! Or the drums and drums of cable waiting to be laid those empty cable trays in todays twitter pictures? Or am I the one who can’t see those crucial gas generators that should be sitting next to the diesel ones?

“ how can you do a hydro pressure test on pipe that isn't welded.”

You quite obviously can’t!! That’s why they are Hydrotesting the pipeline on the original site!
Interesting enough the company they are using to carry it out isn’t one of the 2 they list as carrying out the wet commissioning either!!

RT003
Seriously? They have started producing after a 4 year shut in with the associated pressure build up and have set the k nodding Donkey on fast!
It will drop off dramatically and probably already has!

Yes Donk it’s nice to be proven correct!
The pictures clearly show that the Gas generators aren’t in position, the control room that you accused me of making up has arrived and they are at still weeks of completion.
Just in those Twitter pictures from today we can see that the “5 day” cable pull is far from complete, they then have to wire it all up….that was a two week job wasn’t it??……and the welding is still very much ongoing!
Even July the 1st is starting to look wobbly if you are honest with yourself!
No wonder the biggest shareholder sold out… probably along with his family and the other 3 or 4 who backed the sound deal!!

“If Angs is few weeks late does it matter?”
That depends on if you think they can afford the sidetrack without generating sufficient income in the unhedged timeframe.
The CPR shows they were 500k over budget.
An RNS released after slipped in they were then 10% again over that figure.
The (E) gm called just weeks before the gm was to grant them permission to issue more shares to be able to fulfil the debt commitments and equipment costs.
Then take into account the £250k a month admin costs and the 2/3 month overrun on construction and the Labour costs alone wipe out the 3 recent placings.
Some think the warrants will be exercised so they can afford it in the event they fail to generate enough income. I see a very different picture.

Making things up Asher? All perfectly verifiable!
Perhaps you could point out anything you disagree with!

Pboo
Because the “last skid” is clear in place as well as several other obvious clues from the Angus tweet the day before!!

Anyone paying the slightest bit of attention on Twitter can see they are weeks off when you compare the company provided plan we have been told to follow (available on the Angus website under presentations) and the drone footage from last Thursday.
Several key bits of kit still missing (not classed as Skids) including the gas generators, the control room and several other smaller pieces.
In fact following the plan they haven’t even started the groundwork’s next to the flare KO (where the crane was) and the associated construction to go on top. The pipework from Angus own twitter pictures shows it finishes before the flare and they hadn’t even started the complex connections on top of the steelwork to the compressor, along with the dozen or so pipes at other areas waiting to be connected.
Far from being connected as GL told us in the webcast the storage tanks are not welded and connected as the drone footage clearly shows.
This is going to be far closer to July 1st than June 1st and that’s without any more hiccups!

Ocelot
So it sounds like you agree with my calculations then. Your answer to the problem is that the warrants will be exercised? It’s hardly likely that all the warrant holders will do that though! And far more unlikely that any of them would exercise the ones above 1.2. Why would they possibly do that?

Garwool1
For that statement to become true they have the slight problem of being able to afford, and drilling a successful sidetrack. The last 9 attempts failed!

Well they are only a few posts down. I’ll give you a couple of minutes to read the post. I will be interested to see if you agree!

So I take it you agree with my calculations then Ocelot?

And that’s of course without the cost to re-perf at Brockham as Gideons…sorry TheManual points out!