Member Info for ocelot

From one of the photos of this morning's RNS: by following a quartz vein, it looks as if the original miners at level 4.5 arrived at almost the very spot Alba are looking to investigate more closely.

There is no way they can provide more information. Such negotiations are always private and confidential and, until signed by the parties involved, susceptible to change.

The Company's ongoing underground operations have confirmed that extensive historical development has been undertaken between No.4 and No.5 Level, with the existence of a horizontal level between those levels running at approximately 20 metres in length. This level, which provides further opportunities for sampling and access to the targeted payshoot, is not shown in all of the old underground plans but can be seen in the historical section drawing in Figure 2.

From 10:47:

"At the moment, the market is really crying out for a consolidation. The market requires more of the AIM-listed companies to come together, reducing costs, reducing complexity, improving management skills.

So we are going to look at mergers with other companies and at very specific acquisitions ...

There are some very good opportunities for us to expand our operations and, at the same time de-risk, ...

RH was appointed CEO on 19/04/23, so I don't think the current management team can be held responsible for the company's performance over the last 10 years, (indeed, their IPO dates from late 2016).

They have the backing of Kemexon, who are now represented on the board through their NED, Antoine Vayner.

Aleph directors and partners have recently increased their personal holdings in the company.

It appears Trafigura can make available financing for acquisitions.

On one interpretation, KZ's interview of yesterday was preparing the ground for ... something to happen. We shall see.

Bubblepoint,

From 03:37, KZ speaks of management experience amounting to "probably 2, 3 hundred years in the oil industry" which he considers to be exceptional for a company of Angus's size.

I do not doubt your personal experience of the industry, Bubblepoint, but I doubt it amounts to 200-300 years.

"You keep hanging on to their every word, ..."

KZ's interview of yesterday was carefully prepared, he had a number of messages he wanted to get across, as the company's chairman it would be hard to find somebody better placed to express management's point of view.

As Bubblepoint, you are perfectly entitled to have a different point of view and to express it.

From 07:33:

"We have reserves. If you look at the forward prices today of those reserves, you're talking about (£) 2 or 3 hundred millions worth of gas in the ground.

Now, we need to get it out faster, ..."

To follow through on the logical implication:

4x EBITDA of £15m a year gives us a share price of 0.275p x 4/0.81 = 1.36p.

From 00:27, the very first point KZ makes is that:

"We have strong EBITDA, it's coming in around £15m a year".

At 0.275p, market cap is £12.16m .

So Angus is trading on 0.81x EBITDA, against 4x, 5x, "even 6x" in the US and in Europe.

Bubblepoint,

CZ spoke of 40 years of reserves, at the current rate of extraction.

Very clearly, therefore, they are studying the means of increasing that rate.

They are a thoroughly experienced team so let us see what conclusions their studies produce.

From the final results RNS of 30?05:

... A large drilling programme was conducted at TBS in 2021 using a sonic drill rig. The material from the drilling was sent to specialist mineral sands consultants IHC Mining in Australia (IHC). The completion of the analytical programme has been delayed due to a series of events outside the Company's control. A final series of tests and analytical work having now been carried out, at the time of writing IHC is in the process of completing its final report and revised mineral resource evaluation. IHC's Competent Person's Report is expected shortly.

From 00:48: Brockham already producing around 50 bopd "and it's increasing, giving us an extra £1m of revenue, probably a little more";

from 04:50: "we are looking at re-starting an existing old well (at Saltfleetby) which is not in production at the moment, which would increase our production quite dramatically";

from 05:29: 5 M & A targets "which we are actively involved in":

Re acquisitions, financing is available from Trafigura;

from 08:33: "we're running in 2nd gear", "we have a very nice Mercedes", "we can ramp up, grow into the future".

That is a confident presentation.

1x EBITDA for Angus, up to 6x EBITDA in the US.

40 years of reserves at the present rate of extraction, so need to grow the rate of extraction.

Potential for merger activity - the market is crying out for consolidation amongst the smaller players - and acquisitions, in the North African &/or North American basins.

Emphasises the quality and experience of the management team.

As significant shareholders in Angus, it is in the interest of Aleph units, directors and partners that Angus's share price appreciates.

The Company has received the following TR-1 notifications as set out below without amendment. The Board understands that this is due to intercompany transfers by Aleph Commodities Ltd and Aleph Fin C Ltd, with Aleph directors and partners increasing their personal holdings in Angus, resulting in a holding by Aleph Commodities Ltd of 6.18% and a holding in Aleph Fin C Ltd of

Has reacted positively to the US CPI figures and is now above $2,400 again at $2,406.47

The latest information dates from the tweet of 08/07:

"Solid interest in Loxley farmout".

Your guess is as good as anybody's, Trish63.

From note 18 of the last annual report:

At 30 September 2023, the outstanding loan balances owed to HHDL’s shareholders were; Alba Mineral Resources PLC (Alba) £2.1 million (2022: £2.54 million), Doriemus PLC (Doremius) £0.6 million (2022: £0.57 million) and UK Oil & Gas Plc £17.43 million (2022: £16.59 million).

The loans are payable on determination by the Board of HHDL. The loans currently attract an interest rate equivalent to the Bank of England base rate.

They are, effectively, debt free, ZYX098, imho.

The outstanding balance of the convertible loan was cleared yesterday.

The advances made by HHDL's non-controlling shareholders are only repayable when the board of HHDL so decides ... and UKOG controls HHDL's board.