Member Info for ocelot

Angus is also awaiting a decision, as to whether Frack Free Balcombe can appeal against their extended well test at Balcombe.

This decision, too, could be made at any time.

Balcombe is a promising horizontal well into the Kimmeridge so may have implications for UKOG.

THERE are, NOT "their are" - mind was elsewhere!

Scroll down and their are some higher prices further out, eg Q1 25 is at 93p:

https://www.ice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5600725

Finch v Surrey CC re scope 3 emissions at HH.

Supreme court decisions are delivered on Wednesday and the timetable of future decisions released at 11am on the preceding Thursday.

This morning's page on the court's site is unchanged since before Easter, we are too close to the beginning of the new term this Tuesday:

https://www.supremecourt.uk/news/future-judgments.html

We're too close to the beginning of the new legal term this Tuesday, no judgements have been announced for next Wednesday.

CORRECTION of my post of 09/04 at 11:27:

If one assumes the EV/EBITDA multiple is currently about 2x, then a multiple of about 8x would give us a share price of about 1.30p.

I've just pulled up Singhie's most recent post on Angus (of 20/03) and his share price forecast was 1.34p and not 1.51p, as I indicated in my earlier post, so, by different routes, one arrives at almost exactly the same share price forecast.

GoldnOilDigger,

If all goes well, the favourable resolution of the legal proceedings should put some value on HH.

George Frangeskides of Alba wrote this in their Final Results RNS of 19/05/22:

"We look forward to hearing of the Operator's plans for enhancing productivity and delivering on the INHERENT, AND TO DATE LARGELY UNTAPPED, VALUE of the Horse Hill Oil Field".

The Supreme court judgement will remove the uncertainty. A favourable judgement should enable a more generous valuation of Horse Hill by the market.

PS: and, of course, there is the continuing legal case brought by Sarah Finch et al against Surrey CC re scope 3 emissions where the Supreme court has still to deliver its judgement.

GF wrote this in the Final Results RNS of 19/05/22:

"We look forward to hearing of the Operator's plans for enhancing productivity and delivering on the inherent, and to date largely untapped, value of the Horse Hill Oil Field".

The real problem appears to be less HH itself than the operator, UKOG's lack of resources to develop it.

From note 18 of UKOG's 22/23 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).

Since that date, a partial repayment of around £100k has been made to Alba (see the RNS of 06/12/23).

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.

Absolutely no idea, Barney182, a decision could come any time.

The Easter legal term began yesterday and runs to 24/05. Below is an extract from Free Frack Balcombe's timeline:

November 2023

1st November 2023 Another round of fund raising is launched to fund our Appeal. Crowdfunding site launched at https://www.crowdjustice.com/case/stop-balcombe-oil/

October 2023

31st October 2023 We lodge our application for permission to appeal to the Court of Appeal.

15th October 2023 Judgement received from the High Court rejecting our judicial review. Our judicial review has been rejected.

July 2023

19th July 2023 The High Court heard a judicial review of the Planning Inspector’s decision to grant permission to Angus Energy to flow test for oil at Balcombe.

https://frackfreebalcombe.org.uk/latest-news/flow-test-diary/

CORRECTION: in 3/ "He speaks of considering drilling" instead of "considering drilling THEM", to make it clear they are not planning to drill 4 wells, the planning request for 4 wells is to provide them with a choice of options.

From 02:25 RH explains the capital projects at Saltfleetby currently being undertaken or planned.

1/ the booster compressor is on track, being constructed for the company in the US and planned for installation in Q4:

2/ noise abatement measures for the site, the compressor "hoods";

3/ working on a planning request for up to 4 new wells. He speaks of considering drilling probably from mid-2025 onwards.

From 02:25 RH explains the capital projects at Saltfleetby currently being undertaken or planned.

1/ the booster compressor is on track, being constructed for the company in the US and planned for installation in Q4:

2/ noise abatement measures for the site, the compressor "hoods";

3/ working on a planning request for up to 4 new wells. He speaks of considering drilling them probably from mid-2025 onwards.

2 elements: shares in HHDL (note: NOT in UKOG) + advances made to HHDL.

HHDL and HH are both controlled by UKOG. UKOG is not exactly overflowing with cash resources at the present time, so UKOG itself is not a buyer and it is highly unlikely another player would want to buy into the present situation.

For those who haven't listened to RH's interview:

they are currently working on a planning request for up to 4 wells at Saltfleetby, in order to provide them with options when the time to drill comes:

now looking to drill from mid '25.

If one assumes the EV/EBITDA multiple is currently about 2x, then a multiple of about 8x would give us a share price of about 1.30p.

Not seen Singhie's figures just recently but, if I remember right, his share price forecast was 1.51p or thereabouts so, by different routes, one arrives at the same kind of share price.

To each his own, Bubblepoint.

Personally, I appreciate their efforts to communicate with investors and believe investor relations are important.

Bubblepoint,

You have said you haven't watched the company's recent presentations, which is where they spoke of their growth prospects (although they also said these are still at an early stage).