Member Info for ocelot

It's a dictum, Naheedout, not to be interpreted entirely literally. In this case the "rumour" was anticipation of the debt facility announcement.

A bit of "buy the rumour, sell the news".

Trafigura's net profit for the year to 30/09/23 was $7.4bn.

This is a very useful company with whom to establish a good working relationship.

Ripley94,

The current situation is fragile and fraught.

Personally, think it is best to wait for clarification concerning the adjourned GM.

PS: at 11am, we should receive the latest schedule from the Supreme court re upcoming judgements.

A 2nd good line at 0.60p from earlier in the session: in 2 lines, that's 33.475m shares.

Reminder that 42.32% of the stock is held by significant shareholders so the potential for a price squeeze is there on any revival of serious buying interest.

This morning's RNS has also clarified Forum Energy's overhang.

... Trafigura has demonstrated a strong commitment to its new relationship with Angus and we intend to work together to evaluate the potential for gas storage at the Saltfleetby site and OTHER POTENTIAL PROJECTS in the future. "

0.60p paid for a good line at 8:10.

Well done, RH and all the team at Angus!

· With the refinancing in place and the strengthened balance sheet, Angus is entering its growth phase to acquire additional production and develop storage opportunities ...

"... We are very pleased to have closed the new facility with Trafigura and now have a new level of financial stability which allows us to plan for the future and to maximise the value of our assets for the benefit of all our shareholders. With current high oil prices, we are excited to be restarting production from the Brockham Field in the coming months, and we are hopeful that we will be able to proceed with the long-term test on the Balcombe well this year. Trafigura has demonstrated a strong commitment to its new relationship with Angus and we intend to work together to evaluate the potential for gas storage at the Saltfleetby site and other potential projects in the future. "

The new debt facility has been drawn down, providing them with approx £5.9m after payment of existing debt.

Richard Herbert states: "... With current high oil prices, we are excited to be restarting production from the Brockham Field in the coming months, and we are hopeful that we will be able to proceed with the long-term test on the Balcombe well this year ..."

Another correction: it's a share subscription facility, not a loan facility.

So, if there are those interested in Loxley, it is now they need to engage with UKOG.

Ian12,

The case brought by Sarah Finch is against Surrey County Council, not against UKOG.

Https://www.kitco.com/news/article/2024-02-20/citi-sees-potential-gold-hit-3000-thats-not-base-case

They have succeeded in rescuing a stranded asset and bringing it back on stream so that it is now by far and away the biggest UK onshore producer of natural gas - that constitutes, in my eyes, a significant achievement.

PS: as time passes, the time and cost overruns on Saltfleetby will fade into the past and what will remain in the fore is that Angus got the job done.

For those who have not been invested in ANGS as long as I have:

For GL, Saltfleetby was intended to be the first stage in the development of ANGS, a first stage which established a cash-generating asset.

As we all know, the first stage took longer, and cost more, than originally budgeted.

But, with the completion of the new debt facility close to hand, management and shareholders can now begin to look to the second stage.

Re Brockham:

Hello, can the company give an update one where production is currently for 2023 from Brockham and what is the forecast for 2024 production please? Thanks Asked on 30 November 2023

Brockham Field is currently shut-in with no production. We are evaluating the feasibility of bringing the field back on production in the first part of 2024 and will advise the market when we have decided. At that time we will provide a forecast of expected production in 2024.

PS: the subject of the link is not entirely accurate: it's not the appeal that has been filed but the application for permission to appeal at the Court of Appeal, on 31/10/23.

Current legal situation as per Free Frack Balcombe Residents' Association:

https://frackfreebalcombe.org.uk/latest-news/our-appeal-has-been-filed/