Member Info for Yanis2005

Morning BV, I have been under the impression that you are an LTH who has been here since at least Lidsey time - is that right?

EchDelta, right now ONLY SFB (jam today project) will bring value to shareholders … and the shareholder value is in the value of the SP and only the SP.

All focus (effort & resources) MUST be on SFB.

Share dilution now for another project (another jam tomorrow project) )no matter how attractive it may seem will knock the SP off … is not to shareholders interest at this stage.

Not hard to digest is it?

HITS, I agree with you in that a placing is almost certain now in Q1.

Sad really, but by all indications a placing very likely is going to happen - why else not wait until the normal GM two months later to increase the Directors authority to issue shares?

EchDelta, I bet you that you are going to be screaming when the next placing happens and drops the SP below current level.

“The placing permission is probably for a big acquisition or workover for Lidsey IMO” - really?

Do you honestly thing that another placing, for whatever reason, happening before concrete signs of 1st gas at SFB, that will move the SP up, will be good for shareholders? Need to wake up and get real.

Right now, 100% focus (of efforts and resources) must be on SFB.

Sageman, I agree 100% with your 11:33 post.

The market which acts in anticipation does not believe at all that gas will flow in the near future, never mind by end-Feb as stated in the RNS.

EA approval is the major problem right now.

I wonder if there is anything Angus can do to put pressure on the EA to come up with a decision. The 16-week normal time frame in which to make a decision has now passed.

The approval sought by Angus is relatively simple as it is a variation to an existing approval - gas processing is expanded. It should not have taken EA this long to come up with a decision.

400p gas price … what has that got to do with Angus atm?

Maybe push GL to hurry up? Because until there are believable signs of something concrete happening at SFB the gas prices are irrelevant …. Tell a lie, gas prices maybe relevant if delays occur beyond hedge kick-in and Angus is forced to pay a lot more to buy the gas in order to meet hedge obligations at 37/42p.

EchDElta, ukog has 8bn shares?? You must have been out of touch for a while …

Ukog currently has 16,274,276,176 Ordinary Shares of 0.01p each … 16 bn+ !!!

Sageman, “Lots of hot air on this board. All we want is an RNS with detail about where we are and when gas will flow.”

Where have you been? We had such an RNS this month - gas will flow by end February

https://www.lse.co.uk/rns/ANGS/lidsey-field-reinterpretation-saltfleetby-update-9ef1b5ohp4z2epj.html

EchDElta, “ 6. This has created a great opportunity for me to add at lower prices, thank you derampers.”

You haven’t learnt yet!

Is never good when the SP continues to drop making new lows. Did you make use of the opportunities to buy at lower prices over at ukog?

HITS, “ Perhaps George and cronies should instead focus exclusively on getting Saltfleetby to work. Because if it doesn't, there's no ANGS”

Could not agree more! It is sad that “Long Term Shareholders” (assuming they are LTHs) cannot see this.

Also, dilution at this level is mad!

Raise £1mil at 0.65p - takes 154 mil shares
Raise £1 mil at 6.5p - takes 15 mil shares (ten times less)

The hedge has to be fulfilled one way or another - Angus supplying the gas or buying it at the open market and then supplying it. You can’t just past it off.

And I am puzzled by BV’s nonchalance approach about share dilution - is definitely a bank on the head.

EchDelta, make your mind up … strong buy … or … strong hold.

Btw, we are all holding, is all or nothing for me at this level.

Angus has to supply the hedge volumes at the hedge price for the duration of the hedge. Issuing shares to pay for all this + the £12 mil + interest is folly.

BV mate, knock on the head? “Now say Angus is refinanced through equity just before the Hedge to make us debt free and get the market gas price even with more shares in issue”

Equity financing before the hedge to make us debt free? Raise £12 mil + interest from equity? - Seriously? And what is that going to do to the float? Ukog size?

Am I missing something here? I just don’t get this logic. Is like constantly throwing water at somebody whilst claiming is to stop them from getting wet!.

I just noticed that two of my questions are now up (Civil Works Contract & EA approval. However whether or not the Civil Works contract is linked to EA approval is not up, but we can probably extrapolate from the responses.

Where is the Civil Works contract Ocelot?

Flare, metering skid and analyser house is not in the process area. Just a few pictures as smokescreen - we need to see Civil Works kicking off in the process area.

Was the Civil Works contract awarded? We passed the middle of December.

BV, we may not afford to hung in there until the tide turns. We may meet ukog on the way down. We need to get tough with Angus mate. We need to be asking tough questions.

Lucan could not afford to wait until March to increase the share placing authority and had to bring it forward by 2 months? ??

FFS we just had a placing and there are enough money with the £12 mil funding (at least that is what we were told). To me today’s RNS tells me that they are not confident about when they can start - they have no clue when 1st gas will be - EA approval may not come in time - they have no clue when it will come in my opinion.

Why on earth was the EA application filed so late?

EchDelta, explain one thing to me - if no deadline is met by Angus (means no EA approval, no Civil Works kicking in in the process areas, no gas in sight) - how and when do you expect the SP to go up?

BV,

Any comments on my post that started this thread?