Member Info for ocelot

... It will also greatly help us to secure at least one major strategic partner as a joint venture participant ...

Stephen Sanderson UKOG's Chief Executive commented:

"The funding, together with the support from leading UK energy and hydrogen-space infrastructure players, RWE, Sumitomo and SGN, means we can now materially advance our nationally significant projects towards the goal of a competitive Revenue Support application. It will also greatly help us to secure at least one major strategic partner as a joint venture participant and to enhance our lobbying efforts with our new Labour government, who to date seem motivated and committed to making hydrogen and its storage a fundamental part of Britain's renewable superpower ambition."

At 31/03/24: £33.294m

Deferred tax assets are not recognised in the financial statements. However, at 30/09/23, there were £20.3m of carried forward tax losses worth, at 40%, £8.12m.

UK Oil & Gas

... Given the farce that is the net zero Labour energy policy, we shall need all the energy storage we can get. UKOG now being debt free means that it looks as though it is finally safe to come out for the bulls.

Zak Mir has complained in the past of his targets being undermined by UKOG announcing another placing. I think he has this experience in mind when he says that "it looks as though it is finally safe to come out for the bulls".

Parv!,

Anybody can look at your posting history and see UKOG was a "strong buy" for you on Friday, 02/08, in your post of 07:35.

One assumes that you sold later that day and suspects you are now concerned you won't be able to get back in again below the price at which you sold.

Https://uk.rwe.com/innovation/hydrogen/

At Friday's close, futures prices for Q2, Summer and Q3 25 were all above the price for October 24 of 93.9p so were showing no decline during the extended Summer months of next year.

For a gas producer such as ANGS, is that not an encouraging price outlook?

Bubblepoint,

Given the existence of the futures market, there is no need for a crystal ball!

Because this is what their letter of support says (my capitals):

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."

At this stage of the project, I'm not sure one could have asked for more.

As SS comments:

... Their recognition of the potential benefits our storage could bring to RWE's green hydrogen projects FURTHER UNDERSCORES OUR PROJECT'S CREDENTIALS and the significant impact they could have on the UK's hydrogen economy and energy security.

This LOS together with those from Sumitomo and SGN will help build both our application for government revenue support and provide IDENTIFIED POTENTIAL STRATEGIC INVESTORS comfort that the projects can be successfully delivered."

To the best of my knowledge, this is the first time UKOG has claimed to have identified potential strategic investors.

Note the prices for 25, don't know where 95 came from!

Note the prices for 95:

Q2: 97.75p

Summer: 98.3p

Q3: 97.51p

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

That is really quite an achievement, to have received an offer of collaboration from RWE concerning the design and the delivery of the storage facility!

... Under a letter of support (LOS), RWE will COLLABORATE (my capitals) with the UKOG subsidiary, UK Energy Storage (UKEn), on the development of hydrogen storage sites ...

https://www.h2-view.com/story/rwe-backs-ukog-hydrogen-storage-projects-in-the-uk/2113194.article/

acknowledgements to Pirates4 on the rival site

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."

To my way of thinking, that is more than support, that is an offer of collaboration concerning crucially important parameters of the project.

Congratulations, SS and UKOG!

If a ramper gets it wrong, the potential loss can't exceed 100%.

If a deramper gets it wrong, the potential loss is infinite.

Those who listened to the derampers and shorted at 0.0135p ARE in the red, in a big way.

This is where we want to be, studying the quartz vein.

UKOG's share price has multiplied about 6 times in about a week, "animal spirits" are making a return to the small cap end of the market.

The share price has risen as hopes grow for UKOG's hydrogen storage project on the Isle of Portland.

This is a project for the long term which is considerably less advanced than GROC's Amitsoq and processing projects.

At some stage, the market will take notice of GROC's projects, at which time the share price could move up very sharply.

To calculate the market cap, multiply the number of shares in issue (8,167,456,073, say 8.167bn - see the last placing RNS of 10/07) by the share price (0.088p as I write this) = £7.2m.

UK ENERGY STORAGE LTD: Our Dorset and Yorkshire hydrogen storage projects have received another key letter of support from RWE, one of largest UK electricity generators, supplying 15% of UK power demand.