Member Info for Ibug

Ocelot

Were you daft enough not to work that out from the orininal RNS?

"In addition to the Placing, as the Company values its existing retail shareholder base, the Company also intends to offer its existing retail shareholders a "Retail Offer" of new Ordinary Shares at the same Issue Price as the Placing (the "Retail Offer Shares" and together with the Placing Shares the "Fundraising Shares")."

Ocelot

After the last time I don't expect them to raise over £200k from the "retail offer". The damage has already been done.

Must be the same prospective partners that have been waiting to farm in to Loxley.

Over 500 between 0.055 and 0.065. So down about 30% for those who don't have access.

Looks like the trades here today have broken the system.

Balancedviewer

Perhaps you would care to name the partner and where they have said it?

One thing UKOG has never mentioned is the costs of drilling and construction of the wells, shoreside facilities and pipeline. We know they were looking at £50bn for the offshore windfarm. I did find estimated costs for the previous plans for Portland and that was for £1bn a cavern back in 2013.

How many PI's can see UKOG getting that sort of money when they have problems raising £1m?

What happened the last time they did a "Retail Offer" ?

The open offer was 2,643,429,529.

They got 256,974,621.

Have a big order in for this morning?

SunsOutnow

Posted in: UKOG

Posts: 81

Price: 0.097

Strong Buy

RE: Placing coming?2 Aug 2024 09:36

No placing. They need a general meeting first for more shares. And a GM needs 14 days notice :)

Nice try though!

Wake up and smell the roses. Only income is from 24bopd from HH and 10% of Horndean. POO has dropped about $10 in the last few weeks and is currently about $76.

Ocelot

Another 2bn at least. I did say to expect another 4bn shares needed raising.

Subject to the passing of resolutions by the Company's shareholders at the General Meeting, the Company will issue 2,000,000,000 Placing Shares, to raise gross proceeds of £1,000,000 to participants in the Placing. Admission to trading on AIM is expected on or around 27th August 2024. CMC Markets UK Plc ("CMC"), trading as CapX, acted as the Company's sole placing agent in respect of the Placing.

Placing and Retail Offer to fund hydrogen storage

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that it has conditionally raised gross proceeds of £1.0 million by means of a placing (the "Placing") of new Ordinary Shares (the "Placing Shares") at a price of 0.05 pence per share (the "Issue Price"). The Issue Price represents a discount of approximately 37% per cent to the Closing Price of 0.08 pence per Ordinary Share on 2nd August 2024, being the latest practicable business day prior to the publication of this Announcement.

In addition to the Placing, as the Company values its existing retail shareholder base, the Company also intends to offer its existing retail shareholders a "Retail Offer" of new Ordinary Shares at the same Issue Price as the Placing (the "Retail Offer Shares" and together with the Placing Shares the "Fundraising Shares").

The Company will release a separate announcement regarding the Retail Offer and its terms. For the avoidance of doubt, the Placing is separate from and does not form part of the Retail Offer.

The Placing and Retail Offer are conditional, inter alia, upon the passing of resolutions to be put to the Company's shareholders at a General Meeting, expected to be held via a virtual platform on or around 21st August 2024 and the Fundraising Shares being admitted to trading ("Admission") on the AIM market ("AIM") of London Stock Exchange plc ("LSE").

Use of Proceeds:

The Placing's proceeds will be directly employed to further specific activities required to materially advance the Company's hydrogen storage projects. Specifically, it will permit the Company to initiate essential new studies, including but not limited to environmental surveys, engineering studies and other works necessary to submit applications for: (i) government Revenue Support in the first hydrogen storage allocation round (see RNS 29th May 2024, 27th June 2024 and 2nd August 2024), and (ii) Development Consent Orders under the Nationally Significant Infrastructure Project planning regime.

The funds will also permit the Company to further negotiations with identified prospective strategic joint venture partners and conclude a land option agreement for a further hydrogen storage site. The Company will also seek further Letters of Support for its Revenue Support application similar to those recently furnished by major energy and UK hydrogen infrastructure players RWE, Sumitomo and SGN.

Placing Summary

· The Placing raised £1,000,000 (before expenses) through the issue of 2,000,000,000 Placing Shares at the Issue Price.

· The net proceeds of the Placing will be utilised as described above.

· Participants in the Placing have subscribed on the basis of the customary terms and conditions of the Placing.

Ocelot

UK hydrogen projects

Pembroke 1 Green Hydrogen

Pembroke 2 Green Hydrogen

Grangemouth Green Hydrogen

Wilton Green Hydrogen

Harwich Green Hydrogen

Didcot Green Hydrogen

Solent Cluster

All projects apart from the Solent cluster. Doesn't that tell you anything?

Muppets

"ian12

Posted in: UKOG

Posts: 3,788

Price: 0.081

No Opinion

RE: Ukog ,Today 12:53

Just come out of your 24h ban then Erewhole, must of been so frustrating for you lol.

Take a look at the Daily Mail article, you cannot get much better than that, read and weep."

I rest my case.

And how many believed this?

""..Devon hydrogen storage plans set a fire under the AIM cap VALUATION. Tripled in a week. News broke out -large hydrogen storage, Portland." [Read the rest]

Comment: LoL UKOG plc featured in SMALL CAP MOVERS, THIS IS MONEY, Sat 2 Aug 2024 --This is Money, Daily Mail has one of the largest circulation newspapers in the UK. Ah, nice isnt it? Who would have thought after all these years? DYOR. NIA."

Portland is in Dorset not Devon. It is Saturday 3rd August today.

If they can't get the basics right it is quite likely the rest of it is made up as well.

The fact that it is in the "Mail" should start ringing bells.

Muppets

But it's only "potential x 3" and we all know what that means when it comes to UKOG.

"Mr Jeremy Smith, RWE UK's Head of Hydrogen Business Development commented in the LOS:

"We see the operation of UKEn's hydrogen storage projects as being potentially beneficial to RWE for the following reasons:

· It will enable us to offer firm hydrogen supply contracts and to manage production outages;

· It will allow us to optimise electricity cost and electrolyser operating regime in response to renewable generation capacity and wholesale market price signals;

· It will enable the efficient sizing of our optimised production facility to most efficiently meet our expected offtaker demand;

· It will help to smooth our hydrogen production profile with the store acting as a buffer.

In support of this proposal, we have committed to working with UKEn to ensure that the design and delivery of the storage facility meets the needs of RWE and other potential industry users."

"We are giving permission for you (UKEn) to reference RWE as a "supporting party" in discussions with government and your proposed submission for revenue support via hydrogen storage allocation rounds.""

Try this for size.

"UK Oil & Gas, Hydrogen ramp with Lenigas at full hyperbole but the tank is empty

Having ramped Pennpetro (PPP) to get a placing away just as its shares got suspended, Big Dave Lenigas is now turning his attention to UK Oil & Gas (UKOG) another company that is guzzling cash and does not have a cent to its name, that is only still trading by not paying its bills."

Ocelot embellishing the facts. The word collaborate never was in the RNS. Pure fiction from some hack.