Member Info for ocelot

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."

For "just" a letter of support, that sounds like a constructive relationship has been established

At the end of SS's comment note the following (my capitals):

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."

Lady of Aim's tweet of 30/07 (she has been proven right in the past):

@angusenergyplc update next week IMO

From the CEO's e-mail to Roadhouse cited in his post of 25/07 at 12:29:

"... We are working on a number of organic and inorganic initiatives and will share progress as soon as we are in a position to do so".

True but the session's total of 34.5m so far is certainly better volume than usual.

More than 20m of buys in the last half hour.

From the BBC's live coverage of the BOE's rate decision, at 13:58:

"... And the Bank expects inflation to rise in the second half of this year as energy costs tick higher in the colder months".

With key futures in treble digits or close:

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

Given the long-term nature of GROC's Amitsoq mine and processing projects, their valuation will benefit from any reduction in the discount rate applied, currently 8%.

Today's 0.25% reduction in itself will make no difference but should it signal the start of a longer-term trend, then it might.

Jamrock,

Not familiar with the stock but wish you well.

The Bank of England reduced its base rate by 0.25% to 5.00% at noon. If the market believes it will be followed by further cuts, then that should help the economy and ... the valuation of some of these stocks.

BigFoot88,

1/ why did UKOG fall so low, when its net book assets at 31/03/24 are £33.294m?

2/ the share has suffered from the lack of liquidity within the AIM market in recent years. There are signs this is changing and of a return of more animal spirits;

3/ the government has changed and it looks as if Labour is seeking to encourage and accelerate investment in greener sources of energy including hydrogen.

So far today this constitutes a very healthy consolidation of the recent share price rise, in continuing very good volume and this .... despite the absence of some of the more aggressive pumpers of recent days.

Just the one "n" in Lenigas.

PS: the hunt will be on for "qualifying expenditure" before 01/11/24!

... this week, the government announced changes to the windfall tax (Energy Profits Levy) on oil and gas companies, which was in Labour’s election manifesto.

The tax rate will rise from November 2024 from 35% to 38%. The levy had been due to expire in March 2029. But the government has extended it for another year, to the end of March 2030, provided that prices fall “to, or below, historically normal levels for a sustained period”.

Labour will also abolish the levy’s 29% investment allowance for qualifying expenditure incurred on or after 1 November 2024. More details will be given in the budget.

https://drillordrop.com/2024/07/31/no-change-to-onshore-oil-and-gas-planning-policy/

PPP placing at the same time as they announce the temporary suspension of their shares, because they are not yet in a position to file their accounts - most unusual.

The total loan payable remains of £20m, my mistake.

£18.75m is in non-current liabilities and £1.25m is in current liabilities, being repayable within a year.

Apologies. (See the Interims Results RNS of 28/06).

So full-year interest on the loan should be, at 8% over 3-month sonia (about 5.10%) about 13.10% on £20m = c£2.62m.

Tax: will present a problem in the next financial year but not this one, given their usable tax losses.

Could they acquire a company with usable tax losses?

Interest on loan: 8% over 3-month sonia (about 5.10%) = about 13.10% on £18.75m = c£2.46m over a full year.

In the RNS of 22/02, royalty payments were assumed to amount to about £300k each quarter or £1.2m in a full year.

EBITDA of around £15m covers these figures very comfortably.

Debt payments and field upgrades are cash flow and balance sheet items, interest and royalties concern earnings.

My post of 11:01 concerned this claim of yours: "... no big profits banked, nowt... just ermmmm nowt...."

TrollHunter2,

"Don't forget UKOG's NAV is £33.5million......"

It is book net assets at 31/03/24 which total £33.294m, there is no published figure for Net Asset Value.

Net book assets are stated after impairments made during the annual review at the time of the publication of the last annual report.

Stated on a prudent basis, they make no allowance for any potential uplift such as, for example, that stemming from the CPR for Loxley.