Member Info for ocelot

Production also rose at Horndean, in Hampshire, up 15% from 452 tonnes to 521 tonnes.

https://drillordrop.com/2024/01/02/uk-onshore-oil-and-gas-production-in-charts-october-2023/

It looks as if the hydrogen economy could be a recurring theme of 2024 (and of years further out).

In his Linkedin profile, SS states he is "Now constantly committed to securing a sustainable energy future for the UK".

At some stage, think the market may begin to give credit to SS and UKOG for moving ahead of the pack.

This would be helped if some major names become involved in the Portland project.

Our goal ... 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.

Mullins,

Many thanks and all the best to you and to those close to you in 2024.

Some extracts from different answers:

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.

This is a helpful suggestion, thank you and yes the CEO is planning to conduct more interviews and increase the tempo of communication in 2024.

... we see this refinancing as laying the bedrock of future prosperity for the Company and its shareholders ...

... the gas and condensate reserves in the field are robust and 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.

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.

Https://www.angusenergy.co.uk/media/investor-questions/

Good news.

But can read this bit:

Teesside, Humberside and Merseyside most likely sites for mass production of clean gas

Coutinho to approve plans for hydrogen factories on Britain’s coast

Linked to a Daily Telegraph article but am not a subscriber.

Thank you for your best wishes, ZYX098, and let me reciprocate by wishing you and your family (and all posters on the board) all the best in 2024.

We simply don't know what is Alba's objection to the proposed farm-in, but it could be the terms, that they consider PPP's percentage of future wells to be too high (and their own percentage, too low).

UK ENERGY STORAGE: Report confirms that the first allocation round of Govt support for hydrogen storage will be launched in Q3 2024, with contracts awarded in Q4 2025. (tweet of 14/12/23)

This isn't that far away. Is SS seeking to attract partners in order to reinforce Portland's credibility ahead of these deadlines?

Clare Jackson, CEO of Hydrogen UK, said:

Today’s news is warmly welcomed by the UK’s low carbon hydrogen industry, and adjacent sectors who rely on hydrogen for their own decarbonisation journey.

The passing of the Bill has been a priority for the hydrogen industry as it will lay the foundations for the UK’s future hydrogen economy, by creating provisions for a Hydrogen Production Business Model, and Hydrogen Transport and Storage Business Models.

This firmly indicates to the global hydrogen economy and international investors that the UK is serious about its net zero future, and the role hydrogen can play in it.

https://www.gov.uk/government/news/new-laws-passed-to-bolster-energy-security-and-deliver-net-zero

PPP, UKOG, Alba are all agreed on the potential of further vertical wells in HH.

What is needed is:

1/ a favourable judgement from the Supreme court; and

2/ for all the parties to agree on the terms of the proposed farm-in.

Reminder of this sentence from Alba's Final Results RNS for 2021 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.

Https://drillordrop.com/2023/12/31/what-to-watch-in-2024/

Leads its review of legal challenges in 2023 with Sarah Finch's case:

https://drillordrop.com/2023/12/30/review-of-2023-a-year-of-legal-challenges/

The good 2-way trade in UKOG during the last 2 full and 2 half sessions should have helped RiverFort and YA in the management of their funding facility.

The "What's in store in 2024" tweet (1.7k views) has been reposted by David Lenigas.

WHAT’S IN STORE IN 2024: Pinarova-1 tests in Turkey, promise of court case resolution for Horse Hill and Loxley, and pushing ahead with hydrogen storage in Portland. It’s a big year at UKOG

UK Energy Hydrogen Storage: It's now official.

TURKEY UPDATE: Operator AME advises Pinarova-1 operational start date very soon and we are banking on a spell of dry weather early in the New Year. Further news in due course. #oil #energy

The first of the bridging loans was replaced by equity.

The remaining debt, including the 2nd bridging loan, is being replaced by medium-term debt.

The quality of the balance sheet is being raised.