Member Info for ocelot

£80-100k per month = about £1m a year, that is very definitely a cost reduction worth making.

... running costs/month are not yet stabilized because of ... (2) the relatively high costs of producing the new B7 well through a temporary flowline while the well cleans up and the permanent flowline is constructed (expected to enter service at the end of August 2023); ... There will be a big focus on costs in the second half of this year. (from answer to IQ dated 01/08/23)

The reduction of costs is itself important and will contribute to net cash generation.

Https://www.ice.com/products/910/UK-NBP-Natural-Gas-Futures/data?marketId=5419497

The lack of approval of the farm-out by HHDL's non-controlling interests has not given rise to an RNS from UKOG so, clearly, negotiations continue to find an arrangement which can be approved by all the parties.

The Angus board isn't responsible for the market.

I'm sure management, just like long-term investors, would like to see the share price much higher, but market conditions do not remain fixed, inflation and interest rates, amongst other factors, do play their part.

What have interest rates been doing during the time-periods you are interested in?

So let's see how things stand in 9 1/2 months' time.

Aquis: 16.8m

AIM: 11.1m

SizeofAcorns,

Alba is a minority investor in HHDL, the only revenue it could receive from its investment would be in the form of dividends, but I imagine HHDL is in no position to pay a dividend.

The non-controlling interests in HHDL have advanced funds to HHDL, as has UKOG. As the controlling shareholder, it is UKOG which controls any repayment of advances.

Alba has no interest in Brockham as of June 21.

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SizeOfAcorns,

No, it was for this board although I posted something similar on the UKOG board, too.

The problem is ... how can Alba sell its stake when HHDL's controlling shareholder is UKOG?

Hence, possibly, the extract from the half year report posted in my post of 07:38 yesterday.

Could it be that the non-controlling interests in HHDL are suggesting to Lenigas and PPP that they should buy into HHDL instead of seeking to hive off HH-3 and further wells?

Indeed, perhaps the non-controlling interests are suggesting Lenigas and PPP could buy all or part of their stakes in HHDL? (£2.6m book value in the last annual report).

Perhaps the non-controlling interests are suggesting Lenigas and PPP should buy into HHDL instead of seeking to hive off HH-3 and further wells?

Does HHDL pay a dividend?

No, it doesn't.

Given that the non-controlling interests in HHDL have not, to date, given their approval of the Horse Hill farmout deal, here are the first 3 elements of that deal from UKOG's RNS of 28/03/23:

Farmout Highlights:

-- PPP to fund 100% of a new crestal infill production well, designated Horse Hill-3 ("HH-3"), to be spudded after the completion of a PPP 100% funded 12 square km high-definition 3D seismic survey (the "Farmout Programme"), subject to an aggregate cap of GBP4.6 million.

-- Upon Farmout Programme completion, PPP will earn a 49% share of any oil production from HH-3. PPP will also earn an aggregate 49% non-operated Licences interest, comprised of an initial 7% on 3D seismic completion and a further 42% interest upon HH-3 completion.

-- UKOG and HHDL will retain 100% ownership and rights to all oil production and revenues from Horse Hill-1 ("HH-1"). UKOG will remain as the Horse Hill and Licences operator ...

It's done it to me, too!

Since the implementation of mitigation measures within the settlement tank being used to remove excess solids, daily analysis of the tank discharge consistently shows that dissolved Cu is

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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.

Interesting.

4. OUTLOOK

Alba remains in a strong position to generate real and sustained growth across its existing portfolio of assets and investments. We also continue to assess opportunities to expand our portfolio's value by the acquisition of additional complementary assets.