Member Info for ocelot

Under applicable accounting standards, the dilution and resulting change in GreenRoc's status from subsidiary to associate is a deemed disposal of GreenRoc by Alba which results in an accounting gain. Previously, any fair value uplift arising from the initial IPO transaction was eliminated through the consolidation whereas going forward that uplift is no longer eliminated. This accounting gain does not have any tax implications for the Group ...

3. RESULTS

The Group made a profit of GBP2,102,000 after tax (2022: loss of GBP815,000), including an accounting profit in relation to the de-consolidation of GreenRoc of GBP2,672,000 (2022: nil).

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.

Https://oilprice.com/Latest-Energy-News/World-News/Germany-Sees-Natural-Gas-Prices-Remaining-High-For-Years.html

Link has been tweeted by GROC.

From 17:50, SB says they are talking to all kinds of industry branches involved in EV battery production and worldwide: North America, India, Europe.

Link has been tweeted by GROC.

From 17:50, SB says they are talking to all kinds of industry branches involved in EV battery production and worldwide: North America, India, Europe.

This morning's RNS clarifies the current state of play re dewatering.

GROC's RNS maintains the prospect of the publication of Amitsoq's Preliminary Economic Assessment in September:

"The completion of the PEA is an important step in the development of the Amitsoq Project towards commercial production and we hope to share the findings in September 2023".

The extract from GROC's interim results tweeted by Alba:

The declaration of a significantly upgraded Mineral Resource Estimate in January 2023 not only confirmed the high-grade nature of the Amitsoq graphite ore but increased it to more than 20% graphite, which marks out Amitsoq as a truly world-class project.

... the Company has requested from NRW an extension to the higher rate (100m3/day) abstraction rate, which the Company is awaiting approvals to undertake ...

While around 6m in vertical extent of the flooded workings were dewatered initially during the higher rate (100m3/d pumping period), in recent days, at a pumping rate of 30m3/d and with ongoing intermittent heavy rains, the workings have now partially reflooded close to their original starting level (see Figure 1).

Https://www.londonstockexchange.com/news-article/ALBA/clogau-operational-update/16085717

PS: Angus are still in the process of assessing Saltfleetby's full potential but, in the event of success, the timing of Loxley might suit them, providing them with a new source of gas in some years' time.

September: +16.3% at 101p. More worries about the potential for Australian strikes:

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

Richard Herbert is very much an oil and gas professional whereas George Lucan's background was in finance. Amongst other posts, I see he's a former general manager of Wytch Farm.

George Lucan ceased to be an Angus director yesterday.

Could Angus be interested in a stake in Loxley?

Loxley has yet to be proven commercially but the buy-in price would be lower because of that uncertainty.

Total 33.67%:

Name Percentage of Enlarged Share Capital

Kemexon Ltd 12.36%

Forum Energy Services Limited 10.37%

Knowe Properties 6.67%

Aleph Fin C Limited 4.27%

The above information was accurate as at 4 August 2023 and is based on TR1 notifications received by the Company.

It's a pity the dewatering volume isn't expressed in net terms, ie after the impact of any rainfall.

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

A return that exceeds 15%?

What is the return on the assets being financed by the debt?

We've very close to mid-August.

Under your watch, Angus has become a serious player, the UK's biggest onshore gas producer. It is generating cash in very comfortable proportions and sitting on an asset whose full potential is still being assessed.

It does have some debt but a company without debt could well be a company without ambition which is missing out on opportunities.

The share price is not where we all hoped it would be at this stage, but share prices fluctuate, can change direction (and gain height) very quickly.

Thank you.

Unusual for a director to buy shares in a company AFTER he has announced his resignation from that company.