RE: Accounts due soon24 Mar 2025 15:17
From last years report:
UKOG’s net share of Horndean production revenues was £297,000 for calendar year 2023, with net earnings after costs of £140,000.
REVENUE 1,538,000
Depletion, Depreciation and Amortisation (244,000)
Other Cost of Sales (1,019,000)
Gross profit 275,000
7. Directors and employees
The Company employed the services of an average of 14 employees in the year (2022: 14). Remuneration in respect of these employees was:
Group 2023 £'000 2022 £'000
Employment costs, including Directors, during the year:
Wages and salaries 1,799 1,628
Social security costs 233 216
Employee pension costs 13 13
Benefits in kind 15 10
Total 2,060 1,867
At 30 September 2023, the outstanding loan balances owed to HHDL’s shareholders were; Alba Mineral Resources PLC (Alba) £2.1 million (2022: £2.54 million), Doriemus PLC (Doremius) £0.6 million (2022: £0.57 million) and UK Oil & Gas Plc £17.43 million (2022: £16.59 million). The loans are payable on determination by the Board of HHDL. The loans currently attract an interest rate equivalent to the Bank of England base rate.
19. Provisions - decommissioning
Group 2023 £’000
As at 1 October 1,442,000
Change of estimate (119,000)
Unwind discount 128,000
As at 30 September 1,451,000
imo decommissioning costs are going to be a lot more. Or they should be. HH1, HH2, HH2Z, BB1, BB2, BB2Z