Member Info for mimbrit

Tradedesk,

Please could you say with whom UKen is partnering for each project?

If one is a "near certainty" that information must surely be in the public domain...

...and the world will beat a path to your door.

Surely, TH2, anyone with a cool £800m will be queuing up to do this if promised £2bn p.a. return?

Thousands would get killed in the rush.

Could you put some flesh on the bones of your numbers please? Realistically?

“Annual projected revenue for UKOG Dorset site is around £2bln” – presumably you have some evidence to back this up so please share that.

“Then they also have the Humber cluster project” – which project is this please, where and in conjunction with whom? Please don’t allude to SSE/Equinor project again.

“and Dorset local smaller scale storage and supply” – kindly share some more details about this please as the company hasn’t.

“....and other international projects being worked” – really? Pray, give us a clue...

1. TeesCAES (Tees Valley) - in Ofgem’s “Minded-to” shortlist

Developers: Storelectric (via its subsidiary Storelectric Teesside Ltd).

Asset Owner: The salt caverns and land were acquired directly from SABIC UK Petrochemicals Ltd in early 2026.

UKOG/UKEn Role: None. UKOG’s activities in the region are focused on different sites (specifically their East Yorkshire and South Dorset hydrogen projects), not the SABIC assets in Teesside used by Storelectric.

2. Aldbrough Hydrogen Storage (East Yorkshire) - separate project envisaging(!) hydrogen storage

Developers: A joint venture between SSE Thermal and Equinor.

Asset History: These caverns have been operational for natural gas storage since 2011, owned and operated exclusively by the SSE/Equinor partnership.

UKOG/UKEn Role: None. While UKOG/UKEn is developing a separate hydrogen storage project in East Yorkshire (often referred to as their "East Yorkshire project" distinct from Aldbrough, or potentially confusingly located in the same county), they do not hold any stake in the specific Aldbrough facility managed by SSE and Equinor.

Bunsen

Classic AIM and classic Lenigas - what would you expect?

As usual it’s not straightforward to reconcile the latest list on UKOG’s website with previous iterations.

It is a complete nonsense for the company to refer to nominee companies as significant holders so we should ignore the long list of those, but interesting to note that AJBell, Trading 212 and IG Markets who all featured in the annual report don’t appear in the list. Newcomers Rock and Lawshare Nominees enter but the eagle eyes among you will spot that this is only by rounding up; HDSL holders have seemingly had advice to run for the hills and are also now under 3%. The list is bulked out with three entries each for Hargreaves and Interactive, and our thoughts should be with the countless poor souls with accounts behind all those nominee listings.

The only relevant holdings are:

Peel Hunt – up from 8.9% to 10.02%

Puma Nominees (Shore Capital) – down from 9.61% to 6.78%, and

Cantor Fitzgerald – down from 4.43% last year to 3.28% (but not mentioned in the annual report)

Therefore, the few large holders have reduced by 3% since March (rounded up as UKOG is allowed to do).

I don’t really understand Peel Hunt’s role and maybe someone else can help with that.

If the page title includes Directors’ holdings, it should feature Sanderson’s 1,245,731 shares after the 1:10 consolidation which are worth £105.89.

Agree with all of that, Penguins.

I can’t see anyone backing UKOG with its appalling track record of delivery. However, if they pulled off a blinder against all the odds, poor shareholders would still have that precarious six year wait for any revenue.

Ocelot makes an interesting point...

"Most of UKOG's liabilities are the advances due to the non-controlling interests in HHDL. But with the sale of of its stake in HHDL, HHDL will no longer be consolidated in the group accounts."

I don't think that this "extinguishes" the debts but it would give UKOG the cleanest balance sheet in years. Rather surprising that Sanderson didn't make a point of it and I guess we will only see the detail in NRGB's circular to shareholders.

What remains here, though, is a six year wait for revenue, unless Stephen "my background is BIG OIL" Sanderson's new international initiatives tempt you...

Daniel,

I don't follow your "it extinguishes liabilities" comment - coulld you please elaborate?

I think with current burn, UKOG's assets at the year end are likely to be in the order of £1.2m and liabilities around £4.5m so net liabilities of £3.5m. If the proceeds of the sale of Horse Hill come in, that would still mean a negative £2.5m.

The company has absolutely no income, has said that its first site won't be operational until 2032 and, as Penguins points out, poor prospects of a decision in favour of its illusory northern site. Of course there are "new international opportunities under review"...

Against this backdrop,

1) how is the company going to raise further funds, and

2) how could the auditor sign off the accounts as a going concern?

His plan could be to invest in a carbonating and bottling plant and sell sparkling water as well.

Https://www.aldbroughhydrogen.com/

Very professional site detailing who the partners really are.

TH2 you have just made a statement that Aldbrough is UKOG's site and I think you should have it removed as misleading.

The previous sentence in your post referred to 'existing caverns at Aldbrough' so you are implying that UKOG has caverns themselves which is blantantly untrue; there has been endless talk about a possible (undisclosed) site in the vicinity but no information about leasing it has been forthcoming or any of those 'fruitful' discussions about making it 'hydrogen ready'.

Please ensure your statements can be backed up with evidence and provide that in this case or retract the post.

Alreadyinuse has highlighted UKOG's regular use of the word potential. Here are a few others...

accelerate

aim

budgetted

build upon

collaboration

core focus

envisage

expected

explore

fruitful

help

hydrogen ready

initial

intended

likelihood

material

national importance

new international energy opportunities

plan

possible

potentially

propose

repurposing

review

seek

seems

significant

stewardship

substantive

successfully

support

transformational

You might like to add some more and the usual outcomes in each case.

…and 15 of them simultaneous.

Half of the 75 so-called trades under a tenner.

Two thirds £20 or less.

Enough said.

12,457,310 bought under apparent pressure over a 12 month period at a cost of £12000 (an absolutely minuscule fraction of his emoluments).

Consolidated 1:10 so value today to sell £99.66

Why oh why did he not follow SkiJumper2’s advice along the way?

Yet another flurry of 61 simultaneous trades equal in value on bid and ask, five hundred quid each way, the majority not round numbers if you scrutinise the LSE data.

Someone wants you to believe there is interest here which, when you strip out this activity, evidently there isn't.

MindNumber2

I have always been a great fan of Edward de Bono's concepts of lateral and parallel thinking.

I'm no fan of anyone who leads people up the garden path that is UKOG.

Nm

Lawdy Mama, into the 🗑️ with you news.