Member Info for JiffyBag

Wiz, Re, As I understand the do not have to contribute Yes that is what I also have read on here but cannot find anything to support it.

Wiz, I think I understand your logic now, is the 33.3% an uplift/profit?

Wiz, Re: solo bought 5% of 65% for £650,000 so 1% = £130,000 +33.3% =£167,000 × 35 =approx. £5,850,000 Can follow in part till I get to +33.3% but whats that for, and why Solo, if looking at valuation of Tellurian share?

I think that what is perhaps driving this is that the OGA have requested one of the more experienced and larger HHDL partners heads up as the 'Operator' and that leaves just UKOG and Tellurian in the frame. Now I have no idea what Tellurian have contributed in the way of funds etc to HHDL other than the fact that they own 35% of the licence's. It's an interesting thought though. All pure speculation on my part.

Argus, It would make sense to me, maybe all partners are chipping in? who knows, just a pure guess but plausible.IMO Wiz, No idea how much it would cost, would be negotiable anyway.

Which begs the question. Is the finance raise to buy Tellurians share?

UKOG has a direct 49.9% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246., Tellurian has 35% 0.65 X 49.9 = 32.435

Argus, Re: No one knows what the possible placing was going to be used for as Ukog raised £16.5m in the last year (approx) and had over another million in cash plus is owed more than another £1m from other members of HHDL. All the partners of HHDL have loaned money to HHDL. (Obviously provides HHDL Working Capital) The individual partners DOR, Alba, etc, DO NOT owe UKOG money I believe , I think you will find this is the case if you go through the partner accounts and see what and whom they have owe/loaned to, ie HHDL UKOG have loaned HHDL about £2M from memory, but how much of that is left now after the last campaign at HH is question. We need to see an updated set of HHDL accounts. Further, HHDL is a Private and not a Public Limited company according to companies house and it only has accounts up to 2016. https://beta.companieshouse.gov.uk/company/08808553/filing-history

What would also be interesting is to see an up to date set of accounts for Horse Hill Developments, (Currently only to 2016) as they in theory have been loaned several million in total from the HH partners, where has that money gone?

My only question is why is that non dated document, a HHDL document not on the HHDL website?

Agreed, a red herring.

Yanis, ie No direct interest in Xodus, not UKOG!

Uncle Stephen is booked to speak at this event, maybe we will learn a little more about what UKOG's plans are, just maybe? :) https://openforumevents.co.uk/events/2018/the-third-uk-onshore-oil-and-gas-summit/

Wmc, The only commonality is Kiran Caldas Morzaria, current director of UKOG. Maybe it's a 'Holding Company' not sure.

Hi Wmc, Just seen your message, looked at your link , and the company is a 'Private' not 'Public' Limited company, so I would say no on the face of it.Only similarity shares same address and name? Odd really.

Ocelot, Fair enough, I think you may be right on the 'Consolidation' aspect , we shall see, certainly interesting times.

Ocelot, What do you think of the rationale for such a desired change in status and what it may achieve? My best guess and it is a guess,.... is that such a status may facilitate other avenues of future finance if that finance is not going to be 'invested' in others projects where UKOG do not own 100% interest. Looking at it from the perspective of a bank or other institution lended funds and their repayment would be wholly reliant upon co partners performance etc, if you get my drift. Seems to me UKOG are perhaps planning to go it alone? Can't think of any other reason. 'The Company is currently considering whether to seek to change its current investing company status via a re-admission to AIM as an operating company. Consequently, the CPR was compiled as part of the necessary preparations for such an event. Any such re-admission and change of trading status would be conditional on the publication of a re-admission document and shareholder consent to cease as an investment company. Further detail will be provided when the Company has finalised its future corporate growth strategy and plans.'

LEJOG, Similar feelings as you, still holding my eggs :) Basically, we are where we are. My feelings at the moment are this; 1. OGA approval, that's all we need right now, and the the fact that the new HH Developments website has recently appeared on the web increases my confidence , otherwise why publish it if OGA approval was in doubt? 2. Finance, Gerry65, keeps banging the 'Finance Drum', but we all know that finance will at some time much further down the line be required. However, should HH flow again as is envisaged, then the issue of finance will be the last of my worries. 3. All in all, am now content to see this through, simply because despite currently showing a paper loss and being fortunate enough to counter that loss against other plays, like HUR, SXX, and PMG I am prepared to sit this out. 4. Finally, the market for UKOG shares has shown great resilience, we have maintained an average of 1.45p over many weeks now, that in itself to me says there are many out there whom are prepared to wait and see come what may. Good Luck to All.

Preparatory civil works, including the relaying of the well pad surface and installation of a new site fence, have been completed at Horse Hill as Horse Hill Developments Ltd prepare to return to the site for further operations in the near future. We will endeavour to keep you updated on a regular basis, but we thought this information sheet would help you to understand what we are planning to do.

Hlm, Excellent news, made my day, thanks!:)