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Angus Energy ( (GB:ANGS) ) has issued an update.
Angus Energy has announced a restructuring of its deferred consideration payments with Forum Energy Services Limited, with a total outstanding amount of £1.89 million. Forum has agreed to suspend its rights to receive payment in new ordinary shares for six months, while Angus Energy completes due diligence on a potential RTO and restructures its Trafigura Debt. Additionally, Forum has requested the appointment of a new non-executive director and a non-board COO. The company is also seeking to appoint another independent non-executive director, with Aleph Commodities Ltd requesting the appointment of Alexander Craig.
Spark’s Take on GB:ANGS Stock
According to Spark, TipRanks’ AI Analyst, GB:ANGS is a Neutral.
Angus Energy’s overall score is driven by its challenging financial performance and negative valuation indicators. However, corporate events such as strategic growth initiatives and increased production provide a positive outlook, balancing the score. Technical analysis suggests stable stock price action, but financial weaknesses and valuation concerns remain predominant.
To see Spark’s full report on GB:ANGS stock, click here.
More about Angus Energy
Angus Energy plc is a UK AIM quoted independent oil and gas company, recognized as the leading onshore gas producer in the UK. The company aims to expand its onshore production and diversify internationally. It holds a 100% interest in the Saltfleetby Gas Field, majority ownership in conventional oil production fields at Brockham and Lidsey, and a 25% interest in the Balcombe Licence, operating all fields in which it has an interest.
Average Trading Volume: 12,596,271
Technical Sentiment Signal: Strong Sell
Current Market Cap: £11.97M
For detailed information about ANGS stock, go to TipRanks’ Stock Analysis page.