Member Info for Yanis2005

Personally, I don’t give a toss whether the placing was at £800k or £700k … it should not have happened … period. And just before Christmas? Disgraceful.

Torreaguas/ExhDelta, your intentions are obvious - looking for a trade great. In below 0.7p out at 0.9p, a good profit. Great, but some of us are looking for a lot more than that and have been screwed time after time.

Oktane, “Good management would/will keep us informed on how this unfolds” - ?? Are you on the right board?

HITS, you are right about the placing, it took a lot longer than the hour and half … much much longer, it is obvious from market activity that the placing was leaked at least 2 days before it was announced.

Disgraceful, looks like GL is determined not to let the SP settle above 1p …

I am still very very annoyed with this unwarranted placing. They could have deferred their salaries instead, after all in a few weeks the money will start rolling in … no?

So, is WH Ireland that leaked the placing?

I wonder who started the buyout rumour? I don’t believe is a coincidence, collusion? Who could the other parties be?

So, is 9 December then when these new shares will hit the market, circa 120 million - with thin trading is a huge blow. How low will the SP sink to?

The SP would have been well over 1p, but for this miserable placing, which was also leaked - had it not been leaked the news would have allowed the SP to increase and the (unwarranted) placing could have taken place at 0.85/0.90p or oven 1p again. Complete disaster, utter incompetence.

One thing is certain, SO cannot promote the company, is not in his character. Nothing wrong in this, I could not do it it either. He needs to stand aside and let somebody in the PR role that is capable of doing it.

I know the importance of the Irish asset, is huge, I worked on Corrib in 2010/2011. I worked at the Bellanaboy Bridge Gas Terminal in Co Mayo. At the time Shell was not allowed to lay pipes above ground … drilled a tunnel from sea shore to the gas terminal at a cost of £70 or £90 mil, cannot remember the exact cost, it was big.

The infrastructure is there, if they link to the Corrib gas field next door then they are off to the terminal. Huge potential, but I still believe that for a developing company PR is important. Else interest fizzles out.

£20-£30 million market cap ….

Isn’t that where UKOG is with an SP of 0.1p? ??

Fat fingers … and I am not on vintage champagne … just some cheap rouge.

Ocelot are you ignoring the £5.2 mil raised since SFB acquisition was announced and the £2.5 milk given to them to get 1st gas on line? And the £5.2 mil raised just before SFB acquisition was announced? The £12 mil funding?

They had plenty of money to see this through … but for shear incompetence we are were we are with the last unnecessary placing.

As I said earlier, GL is probably sipping champagne whilst we are debating this on Saturday night … thanks to placings ga;ore. This last onen ensured vintage champagne continues.

EchDelta, if you earned near enough what GL is on you would not be here posting on Saturday evening … not to even think about earning more!

Ocelot, £750k is either here not there … but if it wasn’t for this miserable placing (AND JUST BEFORE CHRISTMAS AND NEW YEAR) the SP would have been well over 1p by now..

There is no excuse in getting it this wrong. And now, there is no guarantee that we will see 1st gas in Q1. Period.

To me this is a big issue. I saw the float increase bymore than 200% since my high double digit SP purchases.

It simply isn’t good enough because we are still awaiting for Angus to deliver something … and not a bean yet.

EchDelta, hoe is your friend SS over at ukog? Are you still best buddies?

Ocelot, Friday’s placing is completely unwarranted. Is a result of delays caused by incompetence. Well … just incompetence!

We all been banging on about the high price of gas … you more than anybody else. You more than anybody else know how I operate, you saw me leave Alba and never post again.

At today’s gas prices how long is it going to take to net £800k? Yes, not a lot. So why the placing?

Answer: because they don’t have a clue when 1st gas is going to appear … it definitely is not end of February … do you want a bet on this?

Median salary of £325k for CEO’s that deliver value.

GL inherited Angus with an SP of 14p … and we are where now?

All we had since GL arrived is placings galore.

Whilst we are debating, Lucan is probably drinking champagne, toasting us.

Salary doubled … nothing delivered but a Christmas placing … to pay for the champagne.

Serif, “but still disappointing that EOG got no obvious benefit from Irish news” - the problem is lack of PR.

I said it before, is not the fundamentals that mater, is the peoples perception of the fundamentals that drives the SP.

We could get good news (on good fundamentals) and the SP could shoot up, but with zombie BOD not promoting the company, the SP will drift back down again. SO is a liability.

I haven’t been here as long as some of the other posters that I see, I am not loosing as much, but as soon as I recover my investment I am out, unless there is a fundamental change in management.

Soon yearly revenue from Wressle will match the MCap - inexcusable.

BV, “as long as we get SBY over the line that's the main thing” - We all want this, everybody agrees with this statement but the problem is the line. It keeps running away from us.

Now, if you are expecting the line will stay still at end of February, you will be disappointed. The quoted delivery schedule will not allow sufficient time to get everything done and certified and over the line by end of Feb. Will be lucky to get it done by end of March, but with these clowns I am not holding my breath.

HITS, let’s be factual. Small correction, the original SFB reconnection cost was £2.5 mil and not £2.75 mil.

Not that is much of a difference, it grew to £12 mil and now it is claimed is not enough. Is damn disgraceful.

I wonder who the original “experts” were that estimated the £2.5 mil costs. Also wonder who the other experts were that estimated £12 mil and increased time requirements.

Now in last RNS we see they discovered the requirement for “electrical, control and instrumentation and safety and emergency shutdown systems” and regulatory requirements. How come none in Angus new this? After all they are energy producers!

Let’s hope that the “experts” now have learned and have all the facts and requirements, but if they still believe in 1st gas by end Feb with the stated delivery schedule i doubt it very much. IMO 1st gas end Feb will not be met.

EchDelta, I don’t need a lecture on AIM for you.

I suppose when you get shafted you will change your tune? How did go with your friend Sanderson over at UKOG? I can still hear your screams.

Ofcourse is AIM. Don’t I know this? These guys promised dividends and instead we got hit with one placing after another. A series of broken promises and nothing delivered.

Since Feb 19, they received/raised £12.95 million plus a bit from Alba for Brockham abandonment costs on top of the £12 mil funding for SFB. Where is it gone?

Part 2
Since 19 June 2019, Angus received the following amounts:

- Jan 2020: £0.20 mil from J-TP (director loan repayment)
- Apr 2020: £1.40 mil convertible facility from RA
- Sep 2020: £1.00 mil via placing @ 0.9p
- Dec 2020: £0.25 mil via placing @ 0.6p
- Jan 2021: £1.50 mil via placing @ 1.0p
- Apr 2021: £0.15 mil via placing @ 1.0p, and
- Dec 2021: £0.75 mil via placing @ 0.65p – better be the last one!

Also, the float increased from 538,828,008 to 1,093,086,880 … a staggering 102.9%

That is a lot of money received on top of the £12 mil funding, where did go?

Placings galore whilst 1st gas deadline drifts to the right.

So, since 19 June 2019 when SFB was announced, we shareholders find our selves:

(A) As of today still waiting for 1st gas 16 months after it was supposed to occur. And the story is not over yet, now forecasted for Feb 2022, but will it come to pass?

(B) Experiencing a fair number of unexpected placings

(C) Seeing the float increased to over a billion shares, a shocking 103% increase (and this is the most worrying part to me, set a precedence)

Promise a dividend … deliver a placing. Enough is enough. Time to deliver, no more placings.

Part 1
Enough is enough. Time to deliver, no more placings.

The SP is at 0.65p now instead of well above 1p just because of this placing.

Too much money has been spent and excessive float dilution happened already, whilst the can has been kicked down the road. When are shareholders going to wake up and say enough is enough?

Let’s look at some facts.

On 19th June, via RNS no. 7530C, Angus announced the acquisition of 51% interest in Saltfleetby Gas Field.

With this acquisition Angus also received £2.5 mil.

In the same RNS Angus stated that reconnection costs are estimated to be £2.25-£2.5 mil.

Also, completion of the works (i.e. 1st gas) in May - August 2020 (yes, 2020, not 2022).

Prior to that Angus had raised £3 mil & £2.2 mil via placings @ 4.24p in Apr 2019 and @ 4.0p in Feb 2019 (yes, 4p & 4.25p).

So, £2.2 + £3mil + the £2.5 mil received with the SFB acquisition, one may be forgiven for believing that Angus will complete the reconnection with the funds in hand.

So, on 19 June 2019 Angus (as per their estimate) had enough funds in hand to get to SFB 1st gas and more. At this time the float stands at 538,828,008 shares.
……