Member Info for Ibug

I wonder when they will realise AME are taking them to the cleaners? £10m so far on a £5m project and nothing to show for it.

Just under a 20% increase in issue so it will be harder for the LTL's to get out. 24m shares in issue this year imo.

AME shutting up shop. Coincidence? Their Annual report is due in September.

Nice figure for consolidation. Just over 2 years to double the number of shares in issue.

"Upon reaching this next key operational and budgetary decision point, expected by mid Q4 2022, the Company would at this time need to seek further financing for its share of the Basur appraisal well and for working capital purposes to help fund its other significant projects. By their nature, UKOG's other projects have a longer lead time to cash generation than Basur. Drilling success at Basur is anticipated to provide UKOG with additional working capital in H1 2023."
So much for mid Q4. Not even into the 2nd week of Q4 and the begging bowl went out at about 20% again. HH is obviously not supplying as much cash as some think. The next 3 months production figures will tell all. Will it be another attempt on the 52 week low?

Eventually. That is now £10m raised for Basur/Resan with sweet FA to show for it. So much for saving money by drilling in Turkey.

ocelot

I got my source confused.

https://www.denbighshirefreepress.co.uk/news/national/21222608.will-governments-energy-bills-help-paid/

Bloody hypocrite.

Running out of money earlier than expected. Not much left in the kitty for any further placings without going cap in hand to the shareholders.

ocelot
How can I be criticising when all I am doing is copy & pasting what was said by the previous Business and Energy Secretary.

"Shale gas extraction – better known as fracking – could eclipse North Sea production within 15 years after Liz Truss lifted a controversial ban."

Hardly likely given that you only produce d 0.00567% of the total UK production from onshore in the last 5 years.
Even JC would have a problem turning those statistics around.

Newspapers can say what they like to get readers. It doesn't mean it is true.

A link that works.

https://www.express.co.uk/news/science/1667657/energy-crisis-lifeline-millions-handed-fracking-goldmine-overtake-north-sea-gas-liz-truss

– So will fracking make a difference to bills?

No. UK energy prices are driven by international gas prices and even if fracking was pursued at scale – which even with the lifting of the ban remains an uncertain prospect – UK reserves of shale gas are too small to bring down those global prices.

Chancellor Kwasi Kwarteng spelled this out as Business Secretary in March when he wrote in the Mail on Sunday that: “No amount of shale gas from hundreds of wells dotted across rural England would be enough to lower the European price any time soon.

“And with the best will in the world, private companies are not going to sell the shale gas they produce to UK consumers below the market price.”

He also warned that it would take a decade to get sufficient volumes of gas from fracking, harming communities and the countryside along the way.

The heads of the Climate Change Committee and the National Infrastructure Commission agree, warning that UK gas reserves – from fracking or North Sea drilling – are “too small to impact meaningfully the prices faced by UK consumers”.

Knowing the Tories they will put more stringent regulations in place after the 2.9-magnitude quake recorded near Cuadrilla’s site near Blackpool. After all they will need the votes at the next election.
If they have any sense they will call the election early while UK residents are still getting the benefit of the price cap.

jamrock
How will UKOG have a bright future. They don't have anything to frack and even if they could it is in the wrong place.

For what it's worth. Both website and Facebook pages have been down for over a week now.

ells_valexpert
And which 52 week low was it? There have been so many this year. Even a fakir can get it wrong sometimes.

I know of many arid countries that have desalination plants. Anything above the equator and up to about 40N. Take your pick.

"Now we discover that we need all the gas we can find and have to pay through the roof for it."
But we will still have to pay through the roof for gas. It will just be a British roof and not a foreign one.

That map is rather out of date. It is from the days of DECC. Probably the days of the 14th round. The major cities are shown for those that don't have any knowledge of the UK.

ells_valexpert
I do love your logic. How can you tell when the filtered accounts were opened and whose they are?
You really are yet another nutter trying his hand and failing badly.
I just love the way the more you post the more laughable it gets.
Keep up the funnies.