Member Info for Hedgehog100

10-09-2021 07:00 Final Results

"...That's why I am so excited about our newly developed Cloud platform, which we expect to launch in the winter. This will enable us to focus on both Security as a Service (SaaS) and our unique offering, Clock as a Service (ClaaS), which allows customers to choose any clock, bundled with our GT Services, and benefit from one low-cost monthly fee, with a no-quibble lifetime warranty. ...

Managing data privacy and security

Another element of building a strong reputation is how we manage data privacy and data security, in particular biometric data, such as fingerprints and face identification. In the US, there are different rules for biometric data capture and what you can do with it, depending on which state you are in, while in Europe and the UK, we have to adhere to General Data Protection Regulation ("GDPR") rules.

It is complex, which is why we have also invested significantly in our workflow management of biometric data. That has meant gathering the consent of people for using their data in the US and Europe, and ensuring that we have annual penetration testing of our systems - both our timeclocks and our Cloud platforms. We are dealing with this ahead of any potential Federal legislation in the US, reassuring our customers that we are secure, and future proofing our systems. ...

New Cloud platform

With our newly developed Cloud platform due to launch in the winter, we are using a Cloud and Application Programming Interface ("API") first approach. This means we can prioritise the use of a Cloud infrastructure along with APIs to provide seamless connectivity and integration between back-end and front-end systems for customers. We have incorporated new technologies to support Internet of Things (IoT) connectivity to the platform, and we have significantly expanded its middleware capabilities - which will enable smoother integration with our partners' time management platforms, and help us onboard customers, as our systems will talk to each other better. ..."

https://newmarksecurity.com/investor-relations/regulatory-news/

"ACCESS CONTROL SYSTEMS
Seven trends set to impact the identity and access security industry in 2022

IFSEC Global
Author Bio ?
February 10, 2022

... SaaS-Delivered Identities: Digital transformation has brought with it a move to cloud deployments and service models, providing opportunities to manage access control for applications, physical assets, and data, while new form factors enable seamless, trusted authentication. As digital-first mandates continue to impact the security landscape, 2022 will see SaaS-delivered identities become not just the norm, but the expectation.

Digital IDs: Digital wallet adoption is at an all-time high. Big technology companies are increasing new credential functionality in applications. Enterprises and governments are adding new infrastructure to support digital transactions. In 2022, there will be a tipping point for digital IDs to outpace physical ones, and digital services will play a vital role as suppliers organise around service models and service-led growth.

Future of Work: Hybrid work models are the norm today and a zero-trust approach for all is a top trend dominating the security industry in 2022. Leaders tasked with ensuring a safe environment for those returning to the office – and secure identity and access management for those working remotely – are looking to the latest physical access trends and the best practices enabling them. Touchless solutions, data protection, and visitor management technologies are ensuring healthy and secure on-site environments while multi-factor authentication solutions take centre stage for remote applications.

Contactless Biometrics: Biometrics are already in widespread use, whether it’s to secure a mobile device, secure a driver’s license or other government ID, or to track fitness. In 2022, biometrics paired with cloud-based identity management solutions is poised to fuel much faster growth. Security’s role in delivering biometric technology that enables secure authentication and protects data privacy is emerging across sectors of the economy.

Data Science: The combination of IoT, cloud and mobile technologies is steadily driving digital transformation across the security industry. Balancing protection against the potential of new physical and digital cyber security threats has moved data science into the spotlight, as discussion turns from risk mitigation and prevention to threat prediction and aversion. In 2022, artificial intelligence (AI) and machine learning (ML) become more tightly woven into the fabric of trusted identity solutions across the physical and digital continuum, automating and optimizing performance, accuracy, safety, and security."

https://www.ifsecglobal.com/access-control/seven-trends-to-impact-the-identity-and-access-security-industry-2022/

When we were at 0.9p and heading down, it didn't take a genius to work out that the 0.8s was possible.

But apart from a few days at the start of the Ukraine-Russia war, when ZEN briefly closed at 0.775p, ZEN's closing low since late 2020 is 0.825p, which is the current s.p.

So that looks to me like pretty solid support technically, underpinned by a big undervaluation, regular good newsflow, and a bullish sector environment.

A shell like NZI - with both great cash underpinning and great deal prospects - is a great place to 'park funds' at the moment.

Many investors may wish to reduce their exposure to shares in companies with trading businesses, but holding cash for months doesn't give any real direct upside - certainly in the short term.

NZI though has both underpinning, and great potential upside - it could easily multibag from this level on a good deal, and it could be soon.

And you don't have to worry about funds being tied up here for a while if you won't be using them anyway.

Thanks to Burton for flagging up the article below in January, which is worth revisiting.

There's only about four months left to meet that one year target, though of course something could be unveiled sooner.

Either way though, good progress on assessing target companies, and due diligence, should have been made since listing eight months ago.

Though NZI has been very quiet, with shells that tends to be a sign that it's busy, and has keeping its cards close to its chest.

"DATE
26.01.22

Time to zero in on Net Zero Infrastructure ?

“…We’ll have something done within the first year of IPO…” ...

Fund managers of the Association of Investment Companies are tipping that renewable energy will be the best performing sector in 2022, and that’s one of the reasons why before September 2022, Net Zero Infrastructure hopes it will have made its proof-of-concept, proof-of-listing investment.

Chairman Mike Elwood is confident his wish to make the first post-listing deal within 12 month’s of IPO will be done.

“I’m looking forward to finding that target that we believe is the right fit for NZI. I’m looking forward to NZI being a real company with a real business and a good purpose behind it.”

He says that the company was established to connect power sources around the grid by making investments into, for example, the entrepreneurial smaller companies with green energy tech capability.

The intelligence about the right fit investee enterprises is coming from within. Elwood credits his shareholders and their own networks as being the conduits who are introducing the ideas and businesses that are ripe for investment at the right stage of development.

One shareholder in particular has confidence. Rupert Labrum has built up a 29% interest in NZI and is responsible for the multiple ‘Holding(s) in Company’ RNS’s that are dominating NZI’s official news feed. Labrum is also the film producer behind the critically acclaimed ‘Let Me Go’ starring Juliet Stevenson, and he’s all about authenticity and true story narratives.

Elwood is aware, and as he explains to Sarah Lowther in this podcast: “Getting the right type of investment is critical to making sure we get the story right for the shareholders.”"

https://total-market-solutions.com/2022/01/net-zero-infrastructure-plc-january-2022/

Poor stock market conditions tend to make it harder to IPO, increasing the attractions of the RTO route, and increasing the bargaining power of shells like NZI.

And meanwhile, the valuations of RTO targets for shells tend to be depressed.

So ironically, the s.p.s of shells like NZI can become depressed at the same time as they are in effect becoming more valuable: more capable of cutting a cracking RTO deal on great terms - i.e. a better shell valuation and lower target valuation, and great quality targets.

NZI should be making great progress towards a potential RTO, and should be updating us very soon.

NZI's current market cap., at 2.1p (down from 2.5p late morning), is just £1.27M.

It raised £1.5M. at 3p when it floated eight months ago.

It could be the cheapest shell on the London Stock Exchange.

15th Sep 2021 7:00 am RNS Admission to the Official List and First Day of Dealings

"Net Zero Infrastructure PLC, a UK company established as a special purpose acquisition company to seek and acquire businesses in the clean energy sector, is pleased to announce that its ordinary shares of £0.01 each have been admitted to the Standard Segment of the Official List and to trading on the Main Market of the London Stock Exchange, following a successful placing of 50,000,000 ordinary shares at £0.03 pence per share raising gross proceeds of £1,500,000, before expenses.

First dealings in the Ordinary Shares are due to commence at 8am today under the ticker symbol “NZI”.

On admission, the Company will have 60,700,000 ordinary shares in issue. ..."

https://www.lse.co.uk/rns/NZI/admission-to-the-official-list-and-first-day-of-dealings-a1bx6vnwsukw7lb.html

A crazy drop, on modest volumes - perhaps some fishing for & or triggering of stop losses.

But already starting to rebound.

"Newmark plans to continue its strategy of investing heavily in research and development allowing the Company to stay ahead of the curve and ensure the highest levels of secure technologies for its customers. The Company is continually innovating in fields such as biometrics, cloud services and mobile authentication to ensure its products are at the forefront of the sectors it operates in."
https://newmarksecurity.com/about-us/our-strategy/

"Top 8 trends for the security industry in 2022

NEWS PROVIDED BY

Hikvision Digital Technology
Jan 14, 2022, 03:42 ET

... 4. Cloud-based solutions and services will be essential

Like AI, the cloud is not a new trend in our industry, but it is an expanding one. From small business markets to enterprise levels, we can see the momentum push more and more businesses to leverage cloud-based security solutions and services. And as we are witnessing even now, the pandemic has accelerated the movement to cloud-based operations for people and businesses around the world.

All businesses want platforms or services that offer simplicity, with as few assets to manage as possible, and a setup that's as simple as possible. This is precisely where the cloud delivers. With a cloud-hosting infrastructure, there is no need for a local server or software. Users can conveniently check the status of their assets and businesses in real time, receive security events and alarms quickly, and accomplish emergency responses simply using a mobile app. For security business operators, the cloud enables them to remotely help their clients configure devices, fix bugs, maintain and upgrade security systems, and provide better value-added services.

... 6. Biometric access control will bring higher security and efficiency

In the past decades, authorized access control has moved a long way away from keys, pin codes and ID cards. We now find ourselves stepping into the era of biometrics. The access control market is rapidly becoming occupied by biometric authentications, from fingerprint and palmprint recognition to facial and iris recognition.

Biometric access controls bring inherent advantages, like higher security and efficiency with reduced counterfeiting. They verify within seconds – or fractions of seconds – and prevent unnecessary physical contact. Iris, palmprint, and facial recognition offer touchless access control, a hygienic practice more and more favored as a result of the pandemic. ..."

https://www.prnewswire.com/news-releases/top-8-trends-for-the-security-industry-in-2022-301461128.html

ZEN has multiple potential positive share price catalysts that could come soon.

At just 0.875p it is looking very undervalued, and could easily multibag when the expected Tilapia licence award lands.

17th Mar 2022 7:00 am RNS Financing Update

" ... Andrea Cattaneo, Chief Executive Officer, commented:

" We are pleased to have concluded this finacing to further reinforce our working capital position at a time of great activity on a number of fronts for the Company, both in terms of asset development and potential near-term asset acquisition.

In view of Zenith's upcoming planned sale of oil production in Tunisia, as well as other potential share price catalysts, we shall seek to avoid dilution taking place by repaying the Drawdown by way of cash payments, as well as settling other outstanding loan facilities in such a way that Zenith can continue to maximise the benefits of the current energy pricing climate to significantly improve its balance sheet.

I look forward to reporting on our progress in due course." ..."

https://www.lse.co.uk/rns/ZEN/financing-update-6mxzj2hq1xzzh25.html

SDI Group (SDI) is currently up 14.24% today, to 172.5p (market cap. £176.3M.), on a positive trading update.

And it has 17-bagged from 10p since the middle of 2016.

The company's monitoring and control area of operation reflects OTAQ's, as does its dual organic and buy-&-build growth model.

This helps to demonstrate OTAQ's extraordinary growth potential.

6th May 2022 7:00 am RNS Trading Update

"SDI Group plc, the AIM quoted Group focused on the design and manufacture of scientific and technology products for use in digital imaging and sensing and control applications, is pleased to provide an update on trading for the year ended 30 April 2022.

Financial results ahead of expectations

Subject to finalisation of the accounts and audit, we expect revenues and profits for the year to materially exceed current market expectations(1) . Sales are expected to be approximately GBP49m (FY2021: GBP35.1m). We expect organic sales growth(2) for the year to be in excess of 20%, which further builds on last year's 19% organic growth. We are also pleased with the additional sales contributions from acquired businesses Monmouth Scientific (acquired December 2020), Uniform Engineering (February 2021), Scientific Vacuum Systems (January 2022) and Safelab Systems (March 2022). Adjusted Profit Before Tax(3) is expected to be at least GBP10.5m (FY2021: GBP7.4m). We also expect to report very strong operational cashflows, significantly ahead of market expectations. ...

About SDI Group plc:

SDI designs and manufactures scientific and technology products for use in digital imaging and sensing and control applications including life sciences, healthcare, astronomy, manufacturing, precision optics and art conservation. SDI operates through its company divisions: Atik Cameras, Synoptics, Graticules Optics, Sentek, Astles Control Systems, Applied Thermal Control, MPB Industries, Chell Instruments, Monmouth Scientific, Uniform Engineering and Safelab Systems.

SDI continues to grow by developing its own technology advancements and by improving its global sales channels, as well as through pursuing strategic, complementary acquisitions. ..."

https://www.lse.co.uk/rns/SDI/trading-update-2ogkbnomhcup0ls.html

"It may be North Africa & a little nearer Europe, but it is still Africa. "T.I.A.""

Tunisia is ideally placed to pipe gas to Italy, which wishes to reduce its heavy reliance upon Russia gas.

As Tom Evans, CEO of Pennpetro Energy plc (PPP), has recently noted:

16th Mar 2022 7:13 am RNS Proposed Farm-In
" ... Tunisian authorities. Our timing couldn't be better given the critical burgeoning need for additional gas and blue hydrogen supplies to Europe, especially given the fact that the Saouaf permit area is situated under the existing TransMed gas pipeline feeding gas from Algeria to Italy with spare capacity. ..."
https://www.lse.co.uk/rns/PPP/proposed-farm-in-5jr044wfsq086n2.html

"Summary of temporary reliefs for companies reporting published financial information
First published: 27/01/2021 Last updated: 23/03/2022
... 23 March 2022 update: This temporary relief will no longer be available for reporting periods ending on or after 28 June 2022. Read Primary Market Bulletin 39 for more information.
• An additional 2 months to publish annual financial reports (ie within 6 rather than 4 months of the financial year end date). ..."
https://www.fca.org.uk/markets/summary-temporary-reliefs-companies-reporting-published-financial-information

Serif,

Under the reporting extension rules, which are still currently in place, PPP is still automatically entitled to the extra two months to report its full year results, to give it six months, i.e. until the end of June if needed.

Which incidentally it would have anyway if it was AIM-listed rather than main-listed, even after the reporting extensions are no longer allowed.

This was PPP's reason for extending its full year results reporting last year:

15th Apr 2021 7:00 am RNS Board change and reporting extension
" ...The Company's assets are located in the United States of America, which have been subject to government restrictions due to the COVID-19 pandemic for some time. The FCA policy statement, extending the reporting deadline, is therefore welcomed by the Company as a practical solution to take account of the challenges of corporate reporting due to the global impact of COVID-19. ..."
https://www.lse.co.uk/rns/PPP/board-change-and-reporting-extension-8vzk5b7bo5mqqgf.html

But the company didn't need an extension for its interim results reported on 30.9.21, and hasn't notified the market of an extension for its coming full year results, so hopefully they will be issued this month.

16th Mar 2022 4:42 pm RNS Placing and Broker Appointment

"... Tom Evans, CEO of Pennpetro Energy plc, commented:

"We thank our existing shareholders and welcome our new investors to our ongoing development initiatives, as we simultaneously progress and complete our proposed farm-in agreement with Upland Resources. Shareholders can confidently look forward to an exciting and progressive series of developments in the near future." ..."

https://www.lse.co.uk/rns/PPP/placing-and-broker-appointment-voszxd1ao8ss4ia.html

There could be great PPP newsflow in the near term on multiple fronts: Tunisia, the North Sea, mainland Britain, the USA, and the acquisition of a portfolio of green technologies to commercialise.

And PPP has a £20M. share subscription facility arranged and available (with warrants at 40p each).

In Q2 last year PPP nearly trebled from low to high: from 22.5p at the start of April, to 60p in mid June, on minimal news.

So an active period of exciting newsflow, in the current high oil-gas price environment, should easily see PPP move up very strongly from its current s.p. of just 28p.

In terms of company progress - both corporate and mining - things couldn't really be going much better for CTL since its floatation in March.

The company has hit the ground running, and its prospects are looking better than ever.

Moreover, the company has demonstrated that it intends to keep investors well-informed, with a regular stream of meaningful newsflow.

And the company is well-funded, having raised £4M. in the autumn, and £5M. in March.

In addition, lithium is the hottest sector in mining, and CTL looks well-undervalued compared to its peers.

It seems crazy that the s.p. is languishing at just 28p, but things can change fast in investment, and there must be a great change of strong s.p. progress from here - and soon.

4th May 2022 7:00 am RNS Operations and Corporate Update for Mines Money

... Environmental Impact Assessments to Commence:

CleanTech Lithium has appointed environmental consultants MYMA Ltda to undertake Environmental Impact Assessments (EIA) at the Laguna Verde and the Francisco Basin projects. MYMA offers environmental management services for companies in the mining, energy and water sectors, and has completed EIA´s for some of the largest operating mines in Chile. Baseline environmental studies at both projects will commence imminently.

Scoping Study on Laguna Verde to Commence:

CleanTech Lithium has appointed Ad-Infinitum, a leading process engineering company in the lithium sector, to lead a Scoping Study for the Laguna Verde project. The principal of Ad-Infinitum, Marcelo Bravo, is the former head of processing at SQM´s Atacama project, the world´s largest lithium production base, and is a part of CleanTech Lithium´s technical advisory board. Ad-Infinitum have consulted for many of the largest companies in the sector and contributed to lithium project feasibility studies. The scoping study will provide an order of magnitude technical and economic study of the potential viability of the project, necessary to demonstrate that progress to a Pre-Feasibility Study (PFS) can be reasonably justified. The Company expects, post the completion of the Scoping Study, to immediately progress to a PFS.

Update on DLE:

The results of the laboratory scale DLE work that aims to produce 1Kg of battery grade lithium from the Laguna Verde project, are now expected late May, with pilot plant construction to commence thereafter.

Operations Team in Chile Strengthened with High Quality Appointments:

CleanTech Lithium has recently made a number of key appointments who will contribute to the Chile-based management team, as follows:

· Sergio Videla has been appointed Chief Operating Officer and will commence his role in June 2022. Sergio is a Civil Engineer and has extensive experience in project management, construction and project control - as owner, manager and director of different mining companies and construction contractors in Chile. Since 2017, he has been working as director of Strategic Projects at CODELCO El Teniente Division, the Chilean State copper mining company.

· Alvaro Florez Keim has been appointed Legal Manager, Chile. Alvaro is a lawyer qualified in Chile and Australia, with 12 years of experience focused on mining, corporate matters and project development in Chile and Australia.

· Olivier Loyer has been appointed Finance Manager for an interim period to 31 July 2022. Olivier is an industrial engineer with finance (CFA level-1) and also holds an MBA. He has provided consultancy services to various Chile based organisations and has also worked for Deloitte in Chile. ...

https://www.lse.co.uk/rns/CTL/operations-and-corporate-update-for-mines-money-2b0lt3stidad75a.html

4th May 2022 7:00 am RNS Operations and Corporate Update for Mines Money

... Further Information

Laguna Verde Drill Programme Progress Update:

The Laguna Verde project has an existing JORC compliant resource estimate of 77,834 tons of Lithium Carbonate Equivalent (LCE) in the Measured category, which comprises the surface resource, and 1.16 million tonnes LCE in the Inferred category, which comprises the sub-surface resource. A resource drilling programme commenced at Laguna Verde in January 2022 to upgrade the sub-surface resource from Inferred to Measured and Indicated in accordance with JORC Code. This will provide the basis for undertaking a Pre-Feasibility Study on the project which we plan to commence later in 2022.

The current drilling programme comprises four drill holes, with the third hole LV03 recently completed to 547 metres. Further details on the completed holes LV01 and LV02 were provided in the RNS dated 4 April 2022. CleanTech Lithium´s geology team considers hole LV03 to be most representative of the Laguna sub surface stratigraphy, as unlike LV01 and LV02 it is not influenced by the steep mountain along the southern Laguna perimeter. The depth of LV03 and recorded aquifer thickness exceeded the model used for the JORC Inferred sub-surface resource estimate. Hole LV03 is currently being cased and developed and the drill rig will move to the final hole in the programme, LV04, this week.

Francisco Basin Drill Programme Progress Update:

A resource drilling programme at Francisco Basin, consisting of 4 wells in total, is aimed at producing a maiden resource estimate. Two wells are planned during the current drilling season that will form the basis for a JORC Inferred resource estimate, based on a 2.5km radius around each of the drill holes. The drill hole FB01 has recently been completed to 338 metres with the hole currently being cased.

A second drill rig was recently mobilised to the project which has commenced drilling of the second hole, FB02, the location of which is approximately 4km southeast of FB01. FB02 will test a low resistivity zone based on a geophysical survey completed in 2018. That survey showed low resistivity zones appearing consecutively to the southeast from FB01, providing an interpretation that the aquifer between FB01 and FB02 is connected. ...

https://www.lse.co.uk/rns/CTL/operations-and-corporate-update-for-mines-money-2b0lt3stidad75a.html

4th May 2022 7:00 am RNS Operations and Corporate Update for Mines Money

Operations and Corporate Update for Mines and Money Conference



CleanTech Lithium (AIM:CTL), an exploration and development company, advancing the next generation of sustainable lithium projects in Chile, announces an operations and corporate update.



CleanTech Lithium's CEO, Aldo Boitano, is attending the Mines and Money Conference in London on 4th and 5th May 2022, supported by the Company's Chairman, Steve Kesler and CFO, Gordon Stein. The following update will be referred to during the conference which also includes a short presentation which may be seen in the following link http://www.rns-pdf.londonstockexchange.com/rns/1689K_1-2022-5-3.pdf



Highlights:

· Resource drilling at its two projects, Laguna Verde and Francisco Basin, located in the lithium triangle - the world´s centre for battery grade lithium production, continues to exceed the expected drilling depths and aquifer thickness

· Two drill rigs now in operation at the Francisco Basin project to accelerate the drilling programme

· An upgraded JORC compliant resource estimate for Laguna Verde and a maiden resource estimate for Francisco Basin remains on track for Q2 2022

· Leading Chilean environmental consultants MYMA appointed to undertake Environmental Impact Assessments at both projects, baseline studies to commence immediately

· Lithium sector process engineering company Ad-Infinitum appointed to lead a scoping study for the Laguna Verde project

· Operations team in Chile strengthened by appointments of experienced Chief Operating Officer, Finance Manager and Legal Manager, as we continue to build the team.



Commenting, Aldo Boitano, Chief Executive Officer, of Cleantech Lithium PLC, said: "The resource drilling programmes, which commenced in January 2022 at Laguna Verde and in March 2022 at Francisco Basin, continue to progress well. The Francisco Basin programme has been accelerated with the addition of the second rig, bringing the total number of rigs operating across both sites to three. We are also pleased to have appointed leading consultants to progress key work programmes covering Environmental Impact Assessments at both projects, and the Laguna Verde scoping study. This allows us to maintain momentum on our planned work activities for the year ahead.



"In addition, we have strengthened our team in Chile, with the appointment of key individuals that have significant relevant experience in country and internationally. I am delighted to welcome them to our team and to them bolstering our operating, legal and financial capabilities in country." ...

https://www.lse.co.uk/rns/CTL/operations-and-corporate-update-for-mines-money-2b0lt3stidad75a.html

"May 1, 2022
11:14 AM GMT+1
Last Updated 2 days ago

UK asks North Sea oil and gas sector to set out plan to reinvest profits
Reuters

LONDON, April 30 (Reuters) - Business minister Kwasi Kwarteng has written to the North Sea oil and gas industry asking it to set out a clear plan to reinvest its profits into British energy projects, the government said.

Energy prices have hit record highs this year and big profits for energy producers have led to repeated calls from the opposition Labour Party for a windfall tax on producers of North Sea oil and gas to fund help for people struggling with energy bills. read more

Earlier this month, the government set out plans to scale up domestic sources of affordable, clean and secure energy and a new licensing round for North Sea oil and gas. read more

"In return for the UK government's ongoing support for the sector, the Prime Minister, the Chancellor (finance minister) and I want to see a very clear plan from the oil and gas industry to reinvest profits in the North Sea," Kwarteng wrote in his letter to the industry.

"At our next meeting in coming weeks, I would like you to set out how you will reinvest profits, double down on investments in the clean energy transition and importantly accelerate and maximise domestic oil and gas production."

Kwarteng, speaking about the plans on Sunday, said it remained his view that a windfall tax would obstruct investment, but added that the government almost never ruled out future tax changes, which were up to finance minister Rishi Sunak.

Earlier this week Sunak said he might consider a windfall tax if investment did not rise.

"Frankly, I think they are going to make those investments. Shell have already announced 25 billion pounds of investment and others will do so," Kwarteng told the BBC.

"If you are asking a company to invest in North Sea gas ... it doesn't make much sense to me to then hit them with a windfall tax, which is arbitrary and unexpected," he added. ..."

https://www.reuters.com/business/energy/uk-asks-north-sea-oil-gas-sector-set-out-plan-reinvest-profits-2022-04-30/

PPP's Tunisia deal also gives it the option of taking on Upland's exciting UK oil-gas assets, both onshore and offshore:

16th Mar 2022 7:13 am RNS Proposed Farm-In

" ... The HoT agreement also includes granting Pennpetro first right of refusal in respect of Upland UK (Upland's wholly owned subsidiary) assets upon the signing of the Farm-In for a period of 45 days. Assets that Upland UK hold (but are not an operator of) are

-- A 32% interest in P2478 (Blocks 12/27c, 17/5, 18/1 and 18/2) ('Inner Moray Firth Asset'): and

-- A 25% interest in PEDL 299 SK46c below ('Hardstoft Asset')

All these transactions are subject to the agreement and signing of various legally binding agreements and further necessary announcements will be made, in due course. ..."

https://www.lse.co.uk/rns/PPP/proposed-farm-in-5jr044wfsq086n2.html

"Hardstoft – Onshore UK – Block SK46c, East Midlands

Upland has a 25% interest in Block SK46c. This acreage is located in the East Midlands Oil Province, in pink below, where numerous discoveries have been made, particularly since the early 1980s.

SK46c is especially appealing as it includes the opportunity to rejuvenate Hardstoft Oil Field, circled below, found by the first ever oil discovery well in the UK in 1919. Hardstoft produced oil through the old, simple vertical well without water for five years. The current plan is to drill a modern low cost, low risk deviated development well on Hardstoft Field and access potential reserves over a far larger area of the field than the old wells. The Hardstoft East prospect, directly adjacent to Hardstoft Field, represents substantial upside to existing resources through a second well. Recent remapping by Independent consultant Blackwatch Petroleum Services Ltd indicates that all of Hardstoft East and the vast majority of Hardstoft Field lie within our SK46c block.

... Blackwatch estimates that the chance of success for Hardstoft Field is 80%, and 64% for Hardstoft East. These are highly attractive

Upland is partnered with Ineos (operator), a large energy conglomerate with substantial financial resources and Europa Oil & Gas, a UK independent with extensive operating experience in the East Midlands Basin. ..."

http://uplandres.com/assets/hardstoft-uk-onshore/

"P2478 License – UK North Sea

The P2478 License is located offshore in the Inner Moray Firth and consists in one part block and three full blocks ..,

... At the end of the first phase (July 2023), a drill or drop decision is required. The Licence contains the prospective Dunrobin area, which was recently corroborated as a potentially attractive and substantial target. Dunrobin is one of the few remaining sizeable undrilled UK North Sea targets with estimated gross mean prospective resources of the order of 100 MMbbl ..."

http://uplandres.com/assets/p2478-license-uk-north-sea/

With Europe now desperate for non-Russian gas-oil supplies, PPP's new Tunisian gas project deal is looking very timely.

I.e. the recently-agreed heads of terms to farm-in (80% interest) to a the huge Saouaf gas project, with up to 15.2 trillion cubic feet gross potential in multiple targets.

Tunisia is ideally placed to pipe gas to Italy, which wishes to reduce its heavy reliance upon Russia gas:
https://en.wikipedia.org/wiki/Trans-Mediterranean_Pipeline

And importantly, the Saouaf project is onshore, massively reducing costs of exploration and production:
http://uplandres.com/assets/saouaf-northern-tunisia/

Moreover, gas is the cleanest fossil fuel:

"In terms of emissions from power plant sources, natural gas is the cleanest fossil fuel. Using data collected from the Energy Information Administration (EIA) division of the Department of Energy (DOE), the emissions of several stack gasses are compared for natural gas, oil, and coal. In addition to the reduction in CO2 emissions, natural gas does not have significant emissions of nitrogen oxides and sulfur dioxide."

https://www.swarthmore.edu/environmental-studies-capstone/comparison-against-other-fossil-fuels