Member Info for ocelot

UK Energy Storage Ltd: German cabinet has approved ‘Hydrogen Acceleration’ law to enable rapid expansion of H2 production and infrastructure - Hydrogen Technology Conference & Expo Europe 2024 (http://hydrogen-worldexpo.com)

As HH slips, so UKOG's 10% of Horndean becomes more important.

Current base rate: 5.25%

£17.43m at 5.25% = annual interest receivable by UKOG of £915,075.

That is positive. What is negative is that it is payable by a UKOG subsidiary, HHDL.

From note 18 to the last annual report's figures:

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.

Aren't most of HHDL's borrowings from UKOG?

... Benchmark Dutch gas futures jumped more than 13% on Monday, the most this year. It’s not clear how long an unplanned outage will last at Norway’s massive Nyhamna gas processing plant. At the same time, Norwegian flows into the UK’s Easington terminal, an entry point for a third of Britain’s total supply, plunged to zero.

The outages show the pivotal role Norway plays in supplying Europe after most Russian pipeline deliveries were halted following the invasion of Ukraine. Even after the energy crisis, the market remains very sensitive to supply issues and prices react quickly when there’s any deviation from the scheduled seasonal maintenance plans ...

https://finance.yahoo.com/news/european-gas-jumps-unplanned-norwegian-062732613.html?guccounter=1

Https://www.ice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5600727

July +14.7% at 93.84p

It's not a grant, there is a maximum 5-year repayment term:

"Any US EXIM Bank finance transaction will require a specific application to be made, which would be subject to US EXIM Bank's standard due diligence process prior to the issuing of a final financing commitment (which would be subject to a maximum five-year repayment term). The LOI is valid until 14 April 2025". (RNS of 15/04/24)

"... this hugely prospective, and still massively underexplored, gold belt." (Mark Austin, RNS of 02/04/24)

From the top of the Investor Questions page:

The Company is changing its policy on Investor Questions. After this month, whilst questions continue to be gratefully welcomed, it is the intention of management to answer them in structured periodic engagement via live webinars, which will also allow for further live questions.

With the global finance sorted, can you please confirm what the priorities will be for the board for 2024? Asked on 1 February 2024

Once the global refinancing has been completed, anticipated to be by the end of February, the company will be working on 4 main priorities:

1. Optimise the recovery from Saltfleetby Field and the value of the field. This includes capital projects to install a booster compressor, to allow production to continue until reservoir abandonment pressure and the preparation for drilling a new well in 2025, as described in the CPR published in October 2023.

2. Generate value for shareholders from the currently shut-in oilfields operated by Angus in the south of England. We are exploring options to restart production from the Brockham field during the first half of 2024 and are hoping that the legal challenges to our plans to test the Balcombe well are now behind us.

3. Initiate a project to evaluate the longer-term potential for gas storage or gas disposal at Saltfleetby.

4. With the company’s financial situation secured, look at growth options for Angus.

Await further airborne survey information, too:

"These are exciting developments and we look forward now to the reporting of the interpretations of the Castell Carndochan and Hafod Owen survey areas to see what further targets may be revealed over this hugely prospective, and still massively underexplored, gold belt." (Mark Austin, RNS of 02/04/24)

Https://www.dailymail.co.uk/money/investing/article-13483415/MIDAS-SPECIAL-Yes-UK-market-bursting-life-four-stocks-prove-it.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Https://www.dailymail.co.uk/money/investing/article-13483415/MIDAS-SPECIAL-Yes-UK-market-bursting-life-four-stocks-prove-it.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

The subscription by Alba and by directors and PDMRs (persons discharging managerial responsibilities) constitutes a convincing vote of confidence in GROC's prospects by those best placed to assess those prospects.

Yes, from yesterday.

180m shares at 0.0201p at 15:34:02

Down from 37.49%: subscription of £70,000.02

Https://www.londonstockexchange.com/news-article/GROC/director-and-pdmr-share-subscriptions/16498191

35:69% is, therefore, Alba's new percentage holding in Greenroc.