Member Info for ocelot

577 trades reported above, 82 posts, it is the market which is leading the board by a long way so far this session.

It's an unusual share price performance which sets bells ringing.

Normally, so close to a fundraise, one expects to see the share price drift down towards the placing/retail offer price or even, briefly, below it, but the opposite is happening so far in this session.

UK natural gas futures have stabilized around 94 pence per therm, the highest level since December, amid concerns about potential disruptions to gas supplies from Russia through Ukraine. Fighting near a key gas transit point in Ukraine has heightened fears of interruptions, but Ukraine's gas transmission operator reported that flows remain stable. The market remains jittery due to ongoing tensions in the Middle East, which adds to the existing uncertainty. The UK, which lacks significant gas storage capacity, relies heavily on European infrastructure to meet its energy needs. This reliance makes the UK particularly sensitive to disruptions in the gas supply chain.

https://tradingeconomics.com/commodity/uk-natural-gas

Very impressive share price performance this morning: 15.6% gain, at 0.063p, in encouraging volume of 497.8m.

From the GM (assuming resolutions passed) of 11.141bn shares.

At the current share price of 0.0545p, gives us a market cap of £6.1m.

That is a much healthier market cap than one of below £1m, as it was very recently.

UK Oil and Gas PLC (AIM: UKOG) is pleased to announce that, further to its announcement of 5th August 2024, it has conditionally raised approximately £248,204 (before expenses) via the conditional issue of 496,408,000 new ordinary shares of £0.000001 each in the capital of the Company (the "Retail Offer Shares") at a price of 0.05 pence per share pursuant to its offer to its existing retail shareholders via CMC CapX (the "Retail Offer").

Bloomberg article: "European gas prices to 2024 high on Ukraine pipeline concerns

Russian military blog says Sudzha transit point seized".

This is the Ukrainian incursion into Russia and a key installation for the flow of Russian gas to Europe via Ukraine.

It's the market, Bubblepoint, subject, as ever, to the interplay of different factors.

UK natural gas futures have climbed above 91 pence per therm, reaching an eight-month high due to increased demand and supply concerns. Rising tensions in the Middle East, particularly between Hezbollah and Israel, are heightening fears of potential disruptions in gas supply. Although the risk of a closure of the Strait of Hormuz—a critical chokepoint for global LNG—remains low, the region's unstable geopolitical climate is a cause for concern. Despite these worries, the market remains relatively stable supported by ample gas supply from Norway and an increasing utilization of wind and solar energy. The UK, however, heavily relies on European energy infrastructure due to its limited gas storage capacity, making it vulnerable to supply disruptions.

https://tradingeconomics.com/commodity/uk-natural-gas

"No" is, therefore, the answer to my question.

Bubblepoint,

The futures are being "pumped" by actors in the market, I am simply drawing attention to what is happening in the market.

To correct my English:

In the meantime, to ask me, ocelot, for guesstimates of the project's short and long term financing requirements IS (not "are"), imho, pointless.

Bubblepoint,

Did you listen to SS's interview yesterday?

In it he explained what he is hoping a fairly heavy hitter of a joint venture partner will contribute to the project.

If and when a significant joint venture partner comes on board, the financing of, at least, the initial stages of the project should become clearer.

In the meantime, to ask me, ocelot, for guesstimates of the project's short and long term financing requirements are, imho, pointless.

The 3 exceptions are: September 24 (95.28p), October 24 (98.19p) and Summer 26 (82.5p).

The highest price is Jan 25: 111.53p.

https://www.ice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5600729

Bubblepoint,

SS said yesterday the company is "in advanced conversations with some fairly heavy hitters about coming in as joint venture partners" so the answer is to wait and see how these conversations develop.

Bubblepoint,

Think you will find that the new government has a range of priorities, some relatively short term, some considerably longer term.

New government, higher priority placed on achieving net zero goals.

It is a TOTALLY worked movement, nothing to do with LOS and all that carp, why did it not rise on the first couple of LOS RNS's ??? pmsl....

Bubblepoint,

The government has changed since the first 2 LOS.

1/ UK ENERGY STORAGE: Further negotiations are planned with Govt and prospective major partners after we hit a hydrogen hat-trick as RWE joined Sumitomo and SGN in support of UKEn’s storage projects.

2/ reminds shareholders the retail offer closes at 5pm today.

Https://www.reuters.com/markets/quote/NGLNMc1/