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From the Minister's tweet re-posted on UKOG's X account on 10/09:

The new government is completely clear on our missions to:

...

🌿Become a clean energy superpower

It is this ambition which distinguishes Sir Keir's government from that of Rishi Sunak in terms of net zero policy.

Reality: The definition

Even trying to define what we mean by "reality" is fraught with difficulty

https://www.newscientist.com/article/mg21528840-500-reality-the-definition/

Yesterday, there was 1 trade of 84.25m and a 2nd trade of the same amount which was cancelled.

That 2nd trade has now been reported.

"Angus is also an important employer of skilled operational and engineering staff and contractors in the north of England and Scotland".

Think it's the contractors who are in the North of England and Scotland.

AIM: 22.2m

Aquis: 8.3m

Total: 30.5m

It looks as if Shore Capital put 2 and 2 together and that the result 4 then rose above 32.

The new government was elected on a mandate to accelerate the implementation of net zero, UKOG looked to be a potential beneficiary.

There is nothing to stop Shore Capital from picking up more UKOG again

Reminder of this extract from Sumitomo's LOS:

The LOS states that SEEL, Sumitomo's UK based hydrogen and energy transition subsidiary, "commits to continue to cooperate with UK Energy Storage ("UKEn"), UKOG's wholly owned Hydrogen Storage subsidiary, with a view to SEEL or Sumitomo investing in UKEn's future hydrogen storage projects" ... (RNS of 29/05)

ZYX098,

How much experience does a major industry player such as RWE have in ensuring the design and delivery of the storage facility meets the needs of industry users?

"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." (RNS of 02/08).

How many restaurants offer salt caverns on the menu?

= 6.6% of total issued shares of 11.14bn.

Good session today, given there was no company-specific information released.

One step back yesterday on the RNS of the 4th LoS, two steps forward today.

For the present, the LoSs have been those of big industry players. At some stage, maybe later, one would be looking for financial players to join them, those specialising in long-term infrastructure investments in particular (specialised funds, banks, pension funds. ...).

UKOG has posted a tweet from Sarah Jones MP, Minister of State at both the Department for Energy Security and Net Zero, and the Department for Business and Trade:

The new government is completely clear on our missions to:

📈Grow the economy, for the good of everyone

🌿Become a clean energy superpower

All I am saying, Bubblepoint, is that I believe your subject-title is wrong.

Linklaters, writing on 11/07:

https://sustainablefutures.linklaters.com/post/102jct2/new-labour-government-is-the-uk-back-in-the-race-to-net-zero

You've changed the subject, Bubblepoint, you are no longer talking about the government and the speed with which it seeks to implement its net zero ambitions.

"... likely YEARS before a penny is actually ever seen".

No.

The new Labour government is expected to move much faster on net zero / sustainable finance than the previous government. And it has already made some key announcements since the election, including on planning reforms and the new National Wealth Fund. (Linklaters, writing on 11/07)

Envoi Limited's summary available on their website:

https://envoi.co.uk/wp-content/uploads/2024/06/P277UKOGOnshoreUK-PEDL234EnvoiIntroFlyer.pdf

.

Whoops, the 1st line of my post of 10:56 didn't make sense, so here is the correction.

Think 2p is much more realistic, that would be a market cap of £88.8m on the basis of the current issued share capital.

For the present, however, the market cap is a miserly £9.95m

Far from being on a multiple of, say, 4x EBITDA of £17m, we've fallen below a multiple of 1x at 0.59x.