Member Info for ocelot

Sampling ongoing of the exposed quartz veins on No.4 Level at the Clogau Gold Mine in North Wales. + 3 photos

Placings to keep the lights on are never particularly welcome.

But a placing to fund the development of the company, such as for Balcombe, might be well-received by the market.

Bubblepoint,

I meant taking initiatives other than at Saltfleetby: Brockham, Balcombe, Lidsey, ...

Bubblepoint,

Would be surprised if they simply sat on their hands while production at Saltfleetby decreased.

Bubblepoint, you write:

"... that is still only likely to "maintain" current production levels".

Whereas, in an answer to an IQ of 03/01/24, Angus speaks of their intention to "accelerate" production:

... our intention is to accelerate production by drilling 2 new wells in the next 2 years and by installing a booster compressor to allow us to deplete the reservoir fully.

No protestors chained to the front gates.

Indeed, no front gates.

Indeed, no fencing.

Our goal, once the financial position of Angus has been stabilised with this refinancing, is to generate handsome returns from the Saltfleetby Field and other assets, current and prospective, for all our shareholders and we are on track to achieve this. (from answer to IQ asked on 03/01/24)

And, from an answer to another IQ asked on 03/01/24:

We are working to finalise plans for a Storage Project at Saltfleetby and expect to be able to announce these plans and a partner shortly.

At this level, perhaps Alba should top up its current holding?

Think they were always intending to obtain debt finance, Bubblepoint.

With its recurring revenues, Saltfleetby lends itself to such finance. It takes the strain off equity capital suppliers (ie. you and me) and enables the company to gear up.

"... they are like any other company, in it for themselves also, it ALL comes at a price".

Of course, Bubblepoint, it wouldn't be a deal if there wasn't give and take in its negotiation from both sides.

"... Therefore, tests to date did not assess the potential of the zones associated with the 12 hours of strong crude oil odour and oil at surface as previously reported on 3(rd) May 2023".

Should the current tests suggest encouraging potential of the zones concerned, one would expect the share price to benefit.

Correction: market cap is about £17.6m (I read £15m from a site which has got the figure wrong).

Doesn't a £15m market cap company obtaining a £20m debt facility suggest the debt suppliers have a higher regard for the company than the equity market? ie the share price is undervalued?

Biggest volume stock now.

2nd biggest volume stock, all of a sudden.

3 buys of 50m each in quick succession.

Https://www.ice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5508882

TURKEY UPDATE: New 7-inch perforating guns being prepared at Pinarova-1 #oil #testing #energy

+ 2 photos

... Therefore, tests to date did not assess the potential of the zones associated with the 12 hours of strong crude oil odour and oil at surface as previously reported on 3(rd) May 2023.

Additionally, new geochemical analyses undertaken by UK/Norway based APT Ltd demonstrate that both the Pinarova mud-pit oil sample and oil samples from the nearby shallow seismic shot-hole seep are a geochemical close match and most likely originate from the same Mesozoic age oil source rock, located beneath the general area of the shallow Pinarova structure.

With this in mind, should further testing be positive, consideration is being given to the acquisition of a small 3D seismic programme to identify a possible deeper oil pool, seepage/spill from which being the most likely primary source of both the seep and Pinarova oils.

Pinarova-1, located 6 km north of the Basur-1 oil discovery, was designed to test a working hypothesis, supported by well and seismic data, that the active 42˚ API light oil seep found last summer in a seismic shot hole above the Pinarova structure, is directly fed by and connected to an underlying light oil accumulation lying within the Germik and/or Hoya limestones.

Work down on No 4 level at the Clogau mine going well. Risk assessment well underway. Washing down of walls due to commence today, sampling from tomorrow.

Pics from yesterday. More soon!