Member Info for Mirasol

They don't raise the £ 12mm? I'm getting less and less convinced it will happen

Do they limp on or do they call it a day ? I can't see who would come in to take over SFB knowing the scale of investment now seemingly required - and the same goes for taking it private - whoever did it would be looking at the thick end of several million in CAPEX even if they got the company for free.

And I hope they've still got the Abandonment money ring fenced............

"Add to this the fact that we are not a one trick pony and have minority holdings in most of our assets and that above all reduces our exposure."

This absolutely the business case for investing in UJO - they have a genuine 3-4 shots in the locker whereas the others................

"Think you're forgetting that UKOG will continue to need to work with Surrey CC in the future."

You are right Ocelot - and if they start persecuting idiot councillors it will affect their dealings with every other council they go to.

TBH UKOG have always played a very professional game and seem to be well thought of by people like the EA and the Planning Officers - compare with Angus!! Whatever Cynders et al think the Councillors did nothing illegal by turning down the application - they're allowed to do it as they are the elected representatives of the local voters - not shareholders and paid rampers on BB's.

Was it wise? No. Was it defendable ? I doubt it. will it be overturned by due process? Very probably.

" time to move forward and only several weeks left before ANGS will start generating revenue/gas"

They haven't got the money to order any of the kit Ivans - they have to wait for the £12 mm - then order it, then it has to be shipped (or made!) and then installed - you'll be lucky to see any income this side of August IMHO

Zoom - its not up to C Govt - it'll be up to the Planning Inspector and they always do site visits - its one of the perks to get out for the day

It can't be "nodded through" - it has to follow the laid out rules otherwise the swampies will tie it up with Judicial Reviews, Appeals and God knows what - and they take a long time

https://www.gov.uk/guidance/appeals-average-timescales-for-arranging-inquiries-and-hearings

S78 & Householder appeals
Mean (weeks) (Median (weeks) Decisions (cases)
s78 planning appeals Written Reps 24 23 852
s78 planning appeals Hearings 50 43 18
Inquiry appeals submitted after 1 April 2019
s78 planning appeals Inquiries 41* 41* 2*

"Because this appeal can be done on paperwork alone and will not need a site visit, it should be fast. IMO February should see it done."

Go and look at the Egdon case - they have to book a Planning Inspector - they are all working on other cases right now, then he has to set a date and place for the hearings. He then has to give all parties time to brief their reps and get a case together.

Then there is the hearing - then he has to decide and write a legal justification

Look on here - the people who follow onshore O&G are estimating 10-18 months base don previous cases

Correct Mr I - these days you have to make sure everything is crawled over to be legally water tight - the legal profession just love allowing protestors to bring case after case as it keeps them in business however mad the case

"Trolls trying hard as usual to curb the enthusiasm with any positive RNS."

No it was a nailed on certainty UKOG would appeal - imagine what would have happened if they hadn't!!!!!!1

"Mirasol, you don't need a lawyer to appeal to the planning inspectorate itself. But UKOG will need one to go to court to recover costs."

They don't need to go to court to recover the costs heartrending hte appeal - the Inspector can make a judgement - as he did for Egdon

Alive enough to issue an RNS about Loxley but not so well as to issue one about HH

"Wytch Farm was developed in the 1970's when there were no such people a Nimbies and Swampies. "

Not true I'm afraid - the development of Wytch Farm was plagued by environmental concerns - the main issue was that they wanted to rum a pipeline through the New Forest to Fawley and this caused an uproar. For several years they had to use the railway as the only way of exporting the oil. Eventually everyone saw sense and they got permission to build the pipeline - which of course was done very quickly and neatly and within a couple of years you couldn't see where it runs

"Go down to - How long will it take to receive a decision?"

About 12 months - they have to schedule the Appeal, everyone has to brief their lawyers and experts, it has to be held and then the Inspector has to go away and write up his judgement

Just had to place £250,000 to keep the lights on at about a 9% margin on this mornings price................

Expect something similar here soon?

"Good God. Is that all they dared ask for?"

The BoD could probably raise more by taking their credit cards down to the Cash machine on the corner

this is not good - suggests the £12 mm is a long way away

"Heathrow wins Supreme Court battle to build third runway"

Already posted several times for heavens sake

"This isn't the likes of Vonk or Sanderson."

yeah this share has TWICE leaked a raise well ahead of the official announcement - perhaps the problem with the BoD is that they DO have one on one conversations with investors Heid.............

2It's a very general and sweeping comment to say no one would be interested, Mirasol."

true but again why buy UKOG - buy RR and then just keep billing UKOG for more and more CAPEX until they quit

If you were going to buy onshore UK you'd look at Wytch Farm - it still far out perforns the rest of them put together

" we get the huge results in. "

We have no results - we have an RNS and no test results - UJO seem to have a reluctance to actually flow their wells- read Grey Panthers take on what may have been found

Those who live on AIM will remember similar RNS's from UKOG, ANGS, Northern and a dozen all small oilers over teh years

"And No, I will not be selling."

that's what you said over on UKOG Heid.............

" majors not interested in onshore - "

Not just the majors - the bigger outfits, the medium outfits and the small outfits have all departed over the last 30 years in a steady stream. INEOS though they could re-write the book but have also departed exploration

You could pretty much get all the office employees of the UK Onshore oil players outside Wytch Farm on to a single bus