RE: Tweet 1h ago13 May 2024 16:11
Only an absolute muppet would believe that UKOG could raise £1+ BILLION to do anything with the salt cavern. LMAO. There is no government EVER going to back that. The big players are not bothered with hydrogen as yet, and by the time that they are UKOG will be history. I can see someone buying the company assets for £1 as there will be huge costs to plug and abandon the BB site and HH site. Yes you read it right, HH will be P&A as the operational overheads far outweigh the production revenues, you will not find any junior oiler wanting to throw money away. So let's call it a round £2million to deal with the BB and HH sites. They may get a few hundred K for the equipment to offset the costs. But when the company folds, will anyone really be interested in buying the assets for £1? The salt cavern is worthless for anything other than pumping a placing, which SS loves to line his pocket.