Member Info for ocelot

Haven't seen UKOG at the top of that ranking in a l o n g time.

There is also the "UK Energy Overview" posted on UKOG's home page on 05/07, the day after the general election:

https://www.ukogplc.com/ul/UKEn%20Overview%20Web%20V4%20050724.pdf

8,167.5m shares (see the placing RNS of 10/07) at Friday's close of 0.28p = £2.29m.

... Betting on hydrogen and the future of gas pipelines

Macquarie’s strategy appears to be betting on hydrogen playing a more substantial role in the future of energy. National Gas has been developing plans to adapt its network to carry hydrogen instead of natural gas.

This move is seen as forward-thinking, considering the potential of hydrogen to replace fossil fuels in heavy industry and transportation sectors ...

https://uk.investing.com/news/stock-market-news/macquarie-to-acquire-full-control-of-britains-core-gas-transmission-network-in-700m-deal-3615284

Thanks to Echo1 on the ANGS board

Shore Capital Stockbrokers Limited look to be stockbrokers, deltavegatheta.

Stockbrokers' activities encompass more than market making.

"Shore Cap's a market maker, it can own up to 10% without a TR1 so it might of only bought 4% in the placing , it buys and sells shares to make a quick buck. MMs don't takeover companies!"

Deltavegatheta, Shore Capital's market making activity is just one of its activities. In the same way, NatWest is a mortgage lender but mortgage lending is just one of its activities:

https://www.shorecap.co.uk/

Suspect the placing and Shore Capital's near-simultaneous emergence as UKOG's biggest shareholder mean there are manoeuvres under way - it is too early to know where they are leading.

There is the possibility that Shore Capital first let UKOG know they were prepared to invest about £150k in the company and it was that approach which prompted UKOG to undertake the placing - Shore Capital emerged as the biggest shareholder in UKOG after the placing.

Fully agree, Stockraiser, the dreadful market in small caps of these last years means there is quite a range of potential multi-baggers out there at present.

1/ Renewed signs of life in the small and very small cap market;

2/ Shore Capital coming from nowhere to become UKOG's biggest shareholder;

3/ The RNS announcing UKOG is debt free;

4/Increasing understanding of the implications of the change of government;

5/ after a year, the removal of RiverFort/YA as forced sellers of the stock (the only way they could recover their loan).

There could certainly be a TR-1 on Monday morning but, given recent volume, this could concern other players besides Shore Capital.

Shore Capital is a market maker. It is also a stockbroker and manager of investments and assets.

It is highly unlikely its declared interest in UKOG is that of a market maker because all it has to do as a market maker is reduce the price in order to find buyers of its stock.

Renewed signs of life in the small and very small cap market.

Shore Capital coming from nowhere to become UKOG's biggest shareholder.

The RNS announcing UKOG is debt free.

Increasing understanding of the implications of the change of government, ...

But look at your figure for investing cash flow, -£945k of which -£862k related to expenditures on exploration and evaluation assets. Pinarova-1 fell in those 6 months, it won't feature in the 2nd half.

UK Oil & Gas PLC (London AIM: UKOG) announces that its application to extend the planning consent at its Broadford Bridge (UKOG 100%) site, primarily to assess the viability of converting the site to harness geothermal heat and power, was today refused by West Sussex County Council. Although the envisaged geothermal scheme is entirely peripheral to the Company's core petroleum and hydrogen storage activities and is of no current materiality, the Company will further consider its position and has six months in which to lodge an appeal should it so decide. (RNS of 19/03)

I was looking at the income statement for the half year to 31/03/24:

operating loss: 956k

finance costs: 469k

loss before taxation: 1,425k

Nobody is saying they are not debt free.

The principal amount of each Advance is deemed to have been established with an accrued premium of 4.5% on the relevant drawdown date (i.e., a fee of 4.5% is incurred on each drawdown which will be added to the principal sum to be repaid). (RNS of 28/06/23)

Agreed, I omitted to take into consideration the 4.5% fee, so the total payable was £231,000 + £80,550 = £311,550.

Some of the monthly burn will be reduced following the end of convertible loan fees.

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that it has fully repaid the balance of the convertible loan facility with RiverFort Global Opportunities PCC Limited and YA II PN Ltd and, as a result, the Company is now debt free. (RNS of 25/07)

On 21/06, the principal amount outstanding was £210,000 (see the RNS of that date).

"Company retains a right to repay any outstanding amount of the Loan prior to the expiry of the term, subject to a repayment fee of 10% of the outstanding balance, ..." (RNS of 28/06/23)

So a repayment fee of £21,000 was payable making a total repayment of £231,000.

Bubblepoint,

No, I am not saying there are no morals within companies.

For myself, if you are going to speak of "£100 MILLION", then I think you should explain each time that you attribute zero £s to book net assets at 31/03/24.