Member Info for ocelot

We are talking to a number of potential lenders who are in a due diligence process with Angus.

Has the new permanent pipeline been installed at Saltfleetby now and what impact will this have on costs moving forward? Thank you Asked on 1 September 2023

The pipework for the permanent flowline is being fabricated for installation during September, with a goal of commissioning the new line in early October. This will remove significant costs associated with the current temporary flowline – rented equipment, manpower and waste disposal costs, making our operating costs significantly lower and competitive.

My post of 19:14 was simply concerned with the mechanical effect of today's rise in the share price on the relationship between Angus's market cap and its debt.

"Dilution" means they have a significant equity capital base.

That equity gained 20% in value today.

But the value of their debt remained stable so the debt declined as a proportion of enterprise value.

Which soldier are you thinking of? There were a number of them.

Best trade of the day late-reported: 10.4m+ at 0.1044p from 15:43:47.

5th highest % gainer on the market.

In March 2023, the majority licence holder of the Horse Hill Oil Field in Surry, England, UKOG Plc, announced the terms of a proposed farmout arrangement to a third-party group which would fund a seismic survey at Horse Hill. The farmout is subject to approval by the shareholders of the operator of the field, Horse Hill Developments Limited, including Alba. As at the date of this report, the shareholders have not approved the farmout. (interim results RNS of 17/08)

Presumably, therefore, HHDL's non-controlling shareholders are not in agreement with Pennpetro Energy's proposed terms.

If there is an RNS (which I would assume there will be), they may want to release it apart from the answers to Investor Questions.

Note that he goes on to say the drilling of more vertical wells would up the production at HH enabling the shareholders in HHDL to get some payback for their investment.

GF answers a question about HH from 51:40 for about 90 seconds.

He explains that the advances to HHDL are shareholder loans which can only be repaid out of profits and that there are currently insufficient profits to do this.

The drilling of more vertical wells would up the production at HH enabling the shareholders to get some payback for their investment.

For those interested, Alba's George Frangeskides speaks of HH for about 90 seconds from 51:40:

https://www.youtube.com/watch?v=g2BeIFvVNng

So the price now looks better!

Down 3.4% but at ... 94.22p.

https://www.ice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5508886

Alba appear to be open to a farm out of HH bringing in new funds to drill additional wells so, in logic, it is the terms of the proposed Pennpetro Energy farm-out which are the problem for them.

If you want to strengthen Sterling v the dollar and the euro, the simplest solution is to raise UK interest rates higher.

Have now watched the whole video. Most of the video is given over to answering shareholders' questions.

At the end, again, GF speaks of NRW making an effort to help Alba.

Despite what GF acknowledges to be the setback of July's exceptional rainfall (without precedent in nearly 200 years), for myself, he makes a decidedly positive impression.

Alba's George Frangeskides has participated in a Q & A on Vox today.

I'm at 53:19 and he has just spoken briefly in answer to a question about HH: Alba would encourage the drilling of 1 or 2 vertical wells at HH.

ZYX098,

Not been following the situation in Northern Iraq/Iraqi Kurdistan at all closely recently - for several years, did follow it closely, through Genel.

NRW are "trying to help us" to move things along. I'm at 25:55 and it sounds like a constructive relationship with NRW.

Uses the word "massive" several times to describe the principal Llechfraith target.

And uses it again to describe the targets in the Dolgellau gold field.