Member Info for ocelot

Judgement in the case was reserved to a future date.

https://drillordrop.com/2023/07/19/residents-challenge-minister-over-oil-testing-in-balcombe/

The Global Refinance Facility is expected to contain less onerous covenants and would make allowance for the payment of dividends in line with the Company's goal of returning capital to shareholders. The improved financing terms, including the bullet repayment profile will strengthen the balance sheet of the Company and provide flexibility to deploy cash generated for distributions, organic and inorganic growth opportunities. (RNS of 14/07)

Note that the potential refinancing package involves more than the interest rate, it is also holds out the prospect of the loosening of those covenants to provide Angus with greater freedom of movement.

Since execution of the agreement, UKEn has:

Carried out site activities to confirm ground conditions.

Pursued the lease of the required subsurface mining and mineral rights with the Crown Estate.

Initiated planning and other regulatory activities, with a detailed review of planning requirements, the DCO process and related activities such as approvals required for the pipelines and other ancillaries.

Prepared an overall work programme and budget to achieve the Development Consent Order (DCO).

Conducted high level engagement with Government and potential future stakeholders.

Technical reviews and studies are underway, including an update of the original salt cavern design, plus overall development engineering and commercials.

https://www.ukogplc.com/page.php?pID=147

Portland is a big project, nobody is suggesting it is a project UKOG can develop on its own.

It is a project where UKOG is acting as the catalyst and which SS clearly believes is worth promoting given the UK's foreseeable energy infrastructure needs.

23 hours ago

UK ENERGY STORAGE (“UKEn”): Govt’s hydrogen storage support is vital for our Portland salt cavern project. “We expect initial allocation of the storage business model to focus on geological storage ... this type of storage is essential.” #hydrogen #energy https://tinyurl.com/2p8ddjns

Also yesterday, at 11:52, a tweet highlighting Hunt's contradictory position re North Sea licences and Loxley.

Have the same problem, morefondle.

Have so many on filter, I have no way of unfiltering a post unless the poster is identified by an unfiltered poster.

The original RNS re Portland is dated 30/05/22 so, given the size of the project, HMG's "minded to" document represents significant progress, a "game-changer", as SS expressed it.

Portland is a big and nationally significant project which will take time and funds to develop.

It looks as if HMG is minded to create the framework in which Portland can progress.

Is there any possibility of attracting an early stage investor?

Https://drillordrop.com/2023/08/03/the-fight-goes-on-surrey-villagers-continue-their-challenge-against-government-over-gas-drilling/

The company has to take note of what the MARKET thinks if it wants to see its market cap rise to £100m.

The biggest alarm bell for me was Angus actually spouting on about the need to do other projects etc to get the company to £100, MC, WHAT !!!! how can that be ???

So we have a decent producing asset with estimated £300-500m of potential gas to produce and the company cannot see it being enough at near 70% discount to that value, to see it alone bring the MC up to £100m !!!!

------------------------

Bubblepoint,

The company has to take note of what the thinks if it wants to see its market cap rise to £100m.

Obvious point: the publication of the PEA could help to focus the market's attention.

Found the reference quickly: it's confirmed, details of the PEA should be available in September.

SB is certain Amitsoq will be shown to be a profitable project, but the PEA due soon (in September? I will have to go back to check) will provide the first economic and financial figures.

View from Vox:

... Overall, GreenRoc's flagship Amitsoq asset has proven one of the highest-grade graphite deposits in the world, with a resource estimate of 23.05 Mt at an average grade of 20.41% graphite, following January's 3x resource increase. Graphite is a key metal in the production of EV batteries, and earlier this year GreenRoc confirmed that Amitsoq graphite could be purified to exceed the EV battery requirement of 99.95%. With global demand for graphite expected to soar, Amitsoq's vast deposit is set to play a key role in the transition to net zero.

Haven't had the time to listen to it yet:

https://www.voxmarkets.co.uk/articles/stefan-bernstein-of-greenroc-we-have-one-of-the-highest-grade-graphite-deposits-in-the-world-at-amitsoq-99dd76e/?utm_campaign=No%20campaign&utm_medium=email&_hsmi=268874614&_hsenc=p2ANqtz-9D7P1tHjELTcly0-oQ5sVWW5VgLxr-5_FLAktPhsgRq-27k7sVpG4wqiejAHD4QVslCCHIVDB1lBsoB0sXLb8Nhztw9w&utm_content=268874614&utm_source=hs_email

They would need to offer a price Alba was prepared to accept for its holding.

FWIW, I find 360phil can be a bit acerbic at times, but I certainly do not associate him with our beloved HITS and WG818.

Saltfleetby, in Lincolnshire, saw production increase by nearly 2,000ksm, up 50%, in May 2023, compared with the month before. Volume was 5,992ksm, the highest since September 2022, when production restarted.

https://drillordrop.com/2023/08/02/uk-onshore-oil-and-gas-production-in-charts-may-2023/

Horse Hill, in Surrey, saw production rise 27% in May 2023, compared with the month before

The volume of oil rose to 279m3, up from 219 in April 2023

Daily production rose to 57 bopd, up from 46 bopd

https://drillordrop.com/2023/08/02/uk-onshore-oil-and-gas-production-in-charts-may-2023/