Member Info for ocelot

My post below was written too quickly:

Alba currently holds 37.49% of GROC.

The 2nd placing constitutes 31.6% of the total of the 2 placings.

So, even if Alba subscribed all of the 2nd placing, its % holding in GROC would still decline. The details of the 2nd placing will let us know by how much its percentage holding declines.

To answer your question, Robbie, we need the RNS for the 2nd placing. For the present, all we know is that Alba will be subscribing but we don't know for how much.

GreenRoc's CEO, Stefan Bernstein, commented:

"This funding will allow GreenRoc to advance on several fronts ..."

The business appears to be advancing at quite some pace.

the raise will allow the company to:

• supplement the pre-feasibility study ("pfs") on a graphite active anode materials (aam) plant with studies on hydrofluoric-acid-free purification methods. the first results of the pfs were released on 7 may 2024. the results of the updated pfs are expected to be released within the next couple of months;

• continue the process of identifying the ideal location for the aam plant;

• finalise pressurised flotation cell beneficiation tests of amitsoq graphite ore;

• conduct testwork on the potential use of co****r flakes from amitsoq as feedstock for expandable graphite production;

• translate the amitsoq technical project description document into greenlandic and send it for public pre-consultation, a precursor to the company's subsequent application for an exploitation licence;

• enter the digbee scheme for benchmarking and disclosure of the esg performance of the mine;

• prepare and submit an application for strategic project status under eu's critical raw materials act; and

· continue discussions with potential strategic and offtake partners.

Unless I'm mistaken, total: £33.006m

No, didn't read further because I had already found the line I was looking for.

And the passage you cite doesn't change the line I quoted, that is, assets are assessed for impairment "whenever facts and circumstances suggest that they may be impaired".

"... Exploration and evaluation assets are assessed for impairment at each reporting date, before reclassification and whenever facts and circumstances suggest that they may be impaired ..."

"a record of how much UKOG has spent on assets", ... adjusted for impairments.

CORRECTION

Net book assets of £32.7m at 30/09/23.

Has the market got it right? Or should HH, Loxley, Portland and 50% of the Resan licence be valued at MORE THAN about zero?

Net book assets of £32.7m at 30/09/23.

Has the market got it right? Or should HH, Loxley, Portland and 50% of the Resan licence be valued at about zero?

Yep, that certainly highlights the discount being applied by the market to UKOG's book net assets.

Accumulated losses at 30/09/23: £92.753m

Retained loss at 30/09/13, at the time Sarantel became UKOG: £31.621m

That is a saying, AimDogs, agreed, although those who are active traders would probably prefer to be measured in terms of the percentage of their performing trades.

All I am saying is that, to go short on UKOG at this price level with UKOG's history of price volatility, is only something for those prepared to take big percentage losses should the stock rise sharply.

AimDogs,

There were those who were negative on UKOG at 0.80p BEFORE it rose to 11p.

Anybody short at 0.80p before that rise would have been eliminated and, if slow to react, could have lost 1,000%.

Not worth the risk, imho.

Going long, you can lose 100%, but going short, on a volatile stock such as UKOG, you can lose way more than 100% very quickly.

The letter suggests that SS has established a good and promising relationship with Summit Energy Evolution Limited, a 100% subsidiary of Sumitomo Corp, a company with a market cap equivalent to about $32bn.

• To continue to cooperate with UKEn with a view to SEEL or Sumitomo investing in future

hydrogen storage projects

In support of this proposal we have committed to working with UK Energy to:

• Ensure supply from the Bacton Energy Hub can contribute to future hydrogen storage capacities

• As far as is practicable, ensure the project schedules are aligned

• Help promote the benefits of a hydrogen economy and the part the Bacton Hydrogen Project

and the UKEn’s Hydrogen Storage Projects can contribute to this

• Identify the opportunities that can be realised between the projects to create new low carbon

energy infrastructure in a sustainable fashion

• To continue to cooperate with UKEn with a view to SEEL or Sumitomo investing in future

hydrogen storage projects

... We believe that UKEn’s plans for hydrogen storage will identify and help realise the potential which

hydrogen brings to the development of the low carbon economy in the UK.

We understand that this Letter of Support is not a legally binding contract and is SEEL expressing an

interest which may, in time, lead on to significant low carbon energy projects for the UK ...

Posted to UKOG's home page today:

https://www.ukogplc.com/ul/20240520%20LOS%20Portland%20Storage%20Project_Final_V1.pdf

https://www.ukogplc.com/