Member Info for deltavegatheta

Meanwhile the HyNet cluster in the NW and the East Coast Humber cluster have submitted planning applications for both pipelines and storage.

Remember only two schemes will get funding.

SS said “The LOS and mutually advantageous joint cooperation will be essential for our application in the first government hydrogen storage Allocation Round, as it will provide DESNZ the necessary comfort that storage and pipelines can be delivered in tandem to enable the new hydrogen system to function."

That is simply not true, the Government has made it clear that storage and pipeline operators both need to actually apply in parallel in the forthcoming application rounds. SS is wilfully misleading investors, including you.

Ocelot, the point is that SGN actually need to apply in the Hydrogen Transport Allocation Round, not just write a letter.

I wish you a good evening.

Ocelot, if you read the gov document it says that there has to be matched applications for Storage and Transport projects, it calls them cohorts. If no such pair of cohorts exist the applications will be sifted out of the process.

SS is misrepresenting the truth when he says that only a LOS is required. Read the gov document, it’s all in there: https://assets.publishing.service.gov.uk/media/6579fd330467eb000d55f783/hydrogen-storage-business-model-market-engagement-on-first-allocation-round.pdf

Ocelot, have you read the gov document? It makes it clear that in order to get gov funding there needs to be a cohort of a storage project and a transport (pipeline) project.

Where’s the transport cohort for Portland? SGN need to be working on an application for the forthcoming 2024 allocation round now, and judging by the ‘letter of support’ they are years away from starting work on H2 Connect.

SS knows this but carries on misleading shareholders.

Both PPP and UKOG have gone silent on the HH farm-in. Currently HH-3 doesn't have planning permission following the court ruling, so that needs sorting out first (if it can). I'd assume the HH-3 project is dead.

PPP has no cash left, hence it selling it's assets, but given that Nobel has liabilities PPP might only of received $1. Currently PPP is collecting 12.5% of zero barrels per month.

PPP accounts due end of this month.

By far the most likely explanation is that Shore Cap bought them in the placing hoping to make a quick buck. However the SP fell below the offering price and its plan went sour. Expect overhang at 0.015 until the shares are offloaded to unfortunate new owners.

Next time UKOG does a raise (not long now) the discount will have to be larger than 28%.

52 Week Low 0.01375

52 Week Low Date 18-Jul-2024

52 Week Low 0.0135

52 Week Low Date 17-Jul-2024

52 Week Low 0.0145

52 Week Low Date 16-Jul-2024

Now below offering price

PPP is currently doing a very good impression of a bankrupt company, it's website has been down for weeks and it's two weeks into notice for compulsory strike-off at Companies House. Accounts due by end of month which should be interesting.

52 Week Low 0.01525

52 Week Low Date 16-Jul-2024

52 Week Low 0.0155

52 Week Low Date 15-Jul-2024

It would destroy the credibility of the infrastructure fund.

In addition to a credible plan to fund the scheme to completion UKOG needs a pipeline partner project, a producer of hydrogen and consumers of hydrogen. It’s all in the criteria published by the government. DYOR.

There is zero chance UKOG will attract such partners before the end of the year. Wake up and smell the coffee.

Not to mention that UKOG also needs to raise £1m for BB restoration which will in all likelihood bankrupt the company.

I reckon they had only 3,146,775,566 authorised shares left, less than the 3,333,333,333 now issued.

Don't forget the 4.5% of £2m fee, which will be £90k. Allowing for a 20% discount, I calculate they would raise about £290k. As the cash burn was £250k per month during H1, that doesn't keep the lights on for long.

If they asked for authorisation for 200% of current shares even that wouldn't help much as they require £1m to restore BB.

A massive dilution is coming. As are continued efforts to pump the SP. If the fund-raising fails it's suspension.

agreed they are best placed to provide an indication but unfortunately ss is a compulsive bull****er desperate to raise more funds to pay his salary. i wonder what tweets we'll get today? at the current sp raising the millions required to pay for bb restoration, portland consultant's fees and the director's lifestyle will be extremely challenging.

BS

Currently UKOG only has planning permission at Loxley for Exploration & Appraisal for a limited period of three years.

Post Supreme Court decision & change of government, I can’t see anyone risking £6 million on the chance that there is both economically recoverable reserves and that it would be possible to get planning permission for commercial extraction.

It’s not going to happen.

Do UKOG really believe Ed Miliband would grant them a new onshore oil & gas licence within Surrey Hills National Landscape?

PPP's website is now "Currently Unavailable", but I'm sure everything is fine and they haven't run out of cash.

https://pennpetroenergy.co.uk/