Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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UKOG clearly sees the Portland Port Project as its core business, or at least the priority for investment, judging by the importance placed on it in recent interim and annual reports.
However there's a disconnect, with money raised and spent on Portland Port via CLN or placings although the shares semm to be predominantly sold to pi hoping for short term rewards (based on the activity during P&Ds) on news about the oil and gas projects they are not spending money on to advance.
The excuse, at least for HH, is said to be waiting for the Supreme Court decision, but there is zero expectation SCC will lose - will that decision result in a burst of activity at HH, or rather a (re)announcement of plans for activity at HH? The farm out to PPP has not progressed since it was announced in March 2023 and PPP may have difficulty funding HH-3 even if they scrape together enough for the 3D.
Loxley's challenge was defeated in January. This has been on offer as a (pre-planned) farm out since mid 2022. There are still outstanding planning conditions to be addressed and whilst UKOG has RNS'd and tweeted about interest in Portland Port no expressions of interest in Loxley have ever been made by UKOG.
Turkey seems to be floundering and perhaps there's another disconnect between what UKOG and AME would like to do.
As for Portland Port - UKOG appears to be betting the farm on their subsidiary UKEn getting something from the Q3 2024 Allocation awards, though when anything is 'allocated' may be much later, but how that will help (fund) the O&G business hasn't been explained if none of the farm outs happens.
"they are working stock "out" for someone "
Probably right. Anyone notice yesterdays late reported 32 million and todays late reported 15 million?
Someone dumping big time. Pretty obvious why....
3 times more buyers than sellers yet we are down 13.5%
Uncleal,
If there were 3 X more buyers it would NOT be down 13.5%, you simply look at the automated buys & sells, when in reality they often set the spread deliberately skewed to throw sells on the wrong side of the mid point, thus it'll show as a buy. same if they want to play with buys the other way....
Bottom line is it's worthless, and they are working stock "out" for someone !!!
3 times more buyers than sellers yet we are down 13.5% Thank you aim mms clearly you have a shortage on your books so mark them down. I hope you get stung !
Even the Dreamers are finally waking up to
this Scam
My £100 is now worth £2.50. Prick!
When is this total muppet sanderscam getting the sack?
Nothing to look forward to in this dog just more down side.
No more money for lying steve👎👎
"UKOG ONLY needs $1 BILLION"
Lyin' Steve could pop that in from his pocket money last year.
"It will not be long before there is more dilution. "
Of course; lets be frank; this company loses a FORTUNE every year. It can not go on without selling increasingly devalued shares.
UKOG explained this in their results RNS;
"The group's continued future operations depend on the ability to raise sufficient working capital through the issue of equity share capital or debt financing. The Directors are confident that adequate funding will be forthcoming with which to finance operations."
UKOG depends on persuading others to part with their cash to progress dream chases. UKOG needs to find £7 million to gamble drill Loxley to see if its commercially viable.
As for Hydrogen; UKOG ONLY needs $1 BILLION; its ludicrous .
Why would anyone want to partner a company that has a LONG history of inflating their pet projects prospects yet has a record FAILING again and again.
Who’s going to buy them ?
This is going to keep falling. Surprising why people voted for consolidation. It always allowed them to do another fundraise. Some people seems to have not realised the company now has authority to issue 50% more of the company shares. The funny thing at what price? As the shares fall they raise less and less. We can guarantee though that the company will sell more shares. It will not be long before there is more dilution. And guess what? Shareholders voted for it. LOL. I bet they never vote to give the company further authorities. This company will not see out 2024. Forget these grand plans about hydrogen storage. The company has too little cash, and Horsehill is really non commercial.
Expect shares to continue to fall. Down and down they go.
"Iceland is already a long way down that road, moving towards a Hydrogen fuelled vehicle society using their abundance of geothermal power."
50.1% of car sales in Iceland last year were EVs, hydrogen sales are too small to register, see
https://www.acea.auto/pc-registrations/new-car-registrations-13-9-in-2023-battery-electric-14-6-market-share/
Global sales of hydrogen cars fell by 30% last year, see:
https://www.hydrogeninsight.com/transport/global-sales-of-hydrogen-vehicles-fell-by-more-than-30-last-year-with-china-becoming-world-s-largest-market/2-1-1599764
ZYX WTF has this all got to do with UKOG? The company will have ceased to exist long before there is any chance of making money from hydrogen generation and/or storage as an alternative fuel in the UK. LOL
Vernonya,
Why do you keep posting nonsense scare stories about Hydrogen?
Hydrogen fuelled vehicles have been used on UK (and other Countries) roads for many years with none of the problems you keep claiming, so to state it's "far to volatile to trust it to unsupervised distribution and use" is complete rubbish.
As far back as the mid 1980's, there were some BP stations that had Hydrogen fuel pumps in them - they fell out of favour because the Govt decided not to fund Hydrogen as an alternative technology.
Just in the UK, there are Hydrogen fuelled cars, buses, lorries and trains being used.
Hydrogen will become a major source of power long before the time frame you think - the current rush towards pure EV's is not sustainable at any part of the supply chain.
Iceland is already a long way down that road, moving towards a Hydrogen fuelled vehicle society using their abundance of geothermal power.
In addition to that, it's currently the only proven technology that will allow excess renewable energy from wind and PV to be converted into a storage medium that can be used when renewables cannot meet the demand.
Your assertion that leaking Hydrogen will cause lots of explosions ignores basic physics.
Hydrogen is much lighter than air, and any leak will dissipate upwards extraordinarily quickly.
That's why the fuel tanks of H2 fuelled cars are designed to instantly release the entire contents of the tank in the event of an accident - the possibility of fire is minute as it dissipates upwards so quickly.
Any fire crews turning up at an accident scene won't have to worry about an explosion or fire occurring with an H2 fuelled vehicle. Not the case if a petrol or diesel tank has ruptured and fuel is pooled on the ground.
With petrol or diesel the fumes are heavier than air and do not dissipate nearly as quickly, so are far more likely to cause an explosion in the circumstances you describe.
That's why there have been cases where someone drops a match and a neighbours garage half a mile up the hill explodes.
Do some basic research on Hydrogen and Hydrogen vehicles before posting your rubbish claims again.
Mothballed since 2018. 6 years. They've dragged that out but I suppose they can now blame the greenies for closing it. Just like...the fool
Of course you are right,I have said this many times. Even if hydrogen were to take off as a fuel , it would probably take 30 to 50 years before it became a major fuel .As I have said before, also, taking into account that there are always people who cant be bothered , or carry out diy on vehicles or neglect them or store them , or the gas in containers, then there will be a lot of explosions caused by leaking hydrogen .It is far to volatile to trust it to unsupervised distribution and use
The biggest problem with the Portland scheme is that there is no requirement to store hydrogen on the south coast. There's no producers of low-carbon hydrogen and no large scale consumers.
There is Fawley but they produce for their own consumption and have no need to for salt caverns.
Once they start to freeze that will change there minds
Ilovesushi wrote : "This hydrogen nonsense is never going to work as the company will never get enough funding away."
Yes; UKOG's latest get rich quick scheme is Hydrogen and its storage.
To call it get rich quick is a bit of an exaggeration. The company is a long way from even starting the 15 years of operational storage before the real decent profit on the investment kicks in.
Ukog states;
"In order to prepare and submit a bid for an allocation award, the round's timetable necessitates an acceleration of specific conceptual design, pre-FEED and environmental/ecology works during 2024. "
It means UKOG are throwing their VERY meagre cash resources on planning. Everyone knows how long that can take.
But here is the kicker ; "..the project's capital costs, currently estimated at c. £1 billion,...."
Yes ; 1,000 MILLION sterling
If, some how UKOG persuades others to invest this eyewatering sum one has to ask this question; Just what miniscule interest fraction of the projects will UKOG be left with?
Maybe in 20 years time UKOG will be able to show some very modest profit for their couple of thousandths share.
A long wait to retiring; not to the Bahamas , imo , but maybe Bognor Regis.
Can investors wait for this dream to come true ?
UK onshore oil and gas production in charts – January 2024
UK onshore gas production rose 6% in January 2024, with the second consecutive monthly increase at the leading field, Saltfleetby.
Full article here:
https://drillordrop.com/2024/04/03/uk-onshore-oil-and-gas-production-in-charts-january-2024/
The newest onshore oil producer, Wressle, saw production increase 39% over the month but total UK onshore oil fell slightly with with a small drop at the biggest field, Wytch Farm.
Have gone down in value so much that they're only now worth about £60, so there really is no point in me selling them. I have 4 or 5 Shares that have all gone out of business and it seems only time before this Company joins them. It's very sad and I hope I'm wrong
No Different to Leni "laughing" Gas, they have both spent the last 10-15 years almost blatantly disrespecting the retail market and using it as an "easy" money route for their so called "projects", which pretty much result in a lot of nothingness and retail punters wondering how it could all possibly have gotten to this state of affairs.
That said, their salaries mean they don't need to do much, sit back, keep dunkin the hobnobs !! happy days !! The mugs will keep coming back for more !!!
Why the hell did the shareholders for dilution do they have a death wish? Good money after bad, and it goes down further. And it seems to me that the company was granted authority to issue more shares too? So anyone doubt they will use that authority to dilute you all again?
This hydrogen nonsense is never going to work as the company will never get enough funding away. This company will eventually end up in administration. Anyone will be stupid enough to buy more of these shares?
Opponents celebrate refusal of permission for Broadford Bridge oil site
Campaigners against oil and gas operations across southern England gathered in celebration outside a site which was refused planning permission last week.
Full story here:
https://drillordrop.com/2024/04/02/opponents-celebrate-refusal-of-permission-for-broadford-bridge-oil-site/
Not a single ramper came to bestow the positives of the Annual report. No Ocelot, no Pboo, no Ian12, no Trollhunter2. Realisation maybe that Sanderson will continue to bleed this company until it is no more. Most cowardly CEO I have come across. Not even man enough to face shareholders, the epitome of good times make weak men. Rip UKOG.