Member Info for ocelot

Re Brockham:

... the Company has reaffirmed its commitment to returning the BRX4Z well to production in order to further increase recovery from the Portland reservoir. Work to reinstate the well has commenced, with operations progressing in line with plan and completion targeted in Q2 2026. This activity forms a key part of the Group's strategy to maximise value from existing assets through disciplined capital deployment and operational improvement.

Angus continues to assess the potential drilling of an additional well, which would add a fourth producing well to the field and is expected to accelerate production and enhance shareholder value. The well is currently in the preliminary design phase, with a target drilling date in Q4 2026 / Q1 2027, subject to the procurement and delivery timelines of long-lead items. If progressed, the proposed drilling schedule is expected to support incremental field production of approximately 2-6 mmcf/d from early 2027, subject to technical evaluation, and approvals.

The 2 key resolutions at an AGM relate to the adoption of the accounts and the appointment of the auditors.

Without accounts to be adopted, there can't be an AGM.

What date do you have for "last year's AGM"?

There was a GM held on 02/09/25

"The Company’s Annual General Meeting, at which the Annual Report and Accounts (“ARA”)

for the year ended 30 September 2024 will be presented, will be convened separately following

publication of the Company’s ARA. The ARA is currently expected to be published in early

September 2025" (page 5 of the Notice of the GM).

"of course they need success off their own merits, at prices that are realistic and the norm, not some bonus months because of something 1000's of miles away".

Realistic prices are those that reflect reality. Unfortunately, wars form part of reality.

Not a situation I've encountered before, all I know is that there has to be an AGM, for the shareholders to adopt the accounts and appoint the auditors.

Auditors need to have good relations with management in order to undertake their work but, in the final analysis, they are answerable to the shareholders who appoint them.

Management can't win.

They were criticised for not being in a position to benefit from the spike in the gas price following Russia's invasion of Ukraine.

Now the rise in the gas price is attributed to the "luck" of another war, that involving Iran, and we learn management should be judged "on its OWN MERITS", ie, apparently, when the gas price is low.

And it is the shareholders who appoint the auditors on a resolution proposed by the directors at an AGM.

One oddity is that, unless I am mistaken, the delayed accounts for the year ending 30/09/24 have still be accepted by the shareholders in an AGM.

No inside track, Grammama, I don't know why the accounts have not been published on time.

"The drill program is designed to bring a substantial part of the inferred mineral resource into the measured and indicated resource". (from SP Angel's "Today's Market View")

Since 01/10/25, they have plugged and abandoned Broadford Bridge but their current outgoings bear no comparison to when they were an oil E&D company.

"Do the rumours/previous comment of receivers have any substance"

Highly unlikely given they raised £5m in quick-fire placings after their return from suspension on 01/10/25, 6 months ago.

The BBC's Faisal Islam, posted at 09:55:

... Global gas production will likely to be damaged for some years, following direct damage to infrastructure, mostly in Qatar. It will take weeks to restart production - and years for that production to be back to pre-war capacity.

So the absence of a further escalation is a relief for the global economy. The depth of the economic scarring from this conflict remains an open question.

Not convinced that comparison is appropriate.

Not many trades but the average trade size is good: volume of 47.5m

Not at all sure about this.

Both the Americans and the Iranians have wisely chosen to pull back from the brink.

But when one looks at the points of dispute between them they need to resolve within the next 2 weeks, there is everything still to do.

"The combined Measured and Indicated Mineral Resource contains a total of 7.38Mt at 21.21% graphite with an additional inferred resource of 15.67Mt at 20.04% graphite. The planned drilling aims to test a substantial part of the inferred mineral resource area to the north of the Indicated and Measured areas with the aim of lifting the category to Indicated".

Will be interesting to see how much of the inferred resource becomes indicated.

With the graphite province to the South of Amitsoq, how much graphite is within their total licence area?

The immediate reaction is one of enormous relief that an "off-ramp" has been found but there are 2 weeks of difficult negotiations ahead.