Member Info for ocelot

British billionaire Jim Ratcliffe lambasted the UK’s energy policy, saying “daft” decisions in areas including nuclear power are crushing manufacturing in the country.

The owner of chemicals giant Ineos Group Holdings called for more investment in reactors and repeated calls for the UK government to allow hydraulic fracturing, or fracking. At an event in London Wednesday evening, he said conversations with ministers to find solutions were “frustrating.”

The UK and Europe grappled with natural gas shortages last year after Russia’s invasion of Ukraine curbed supplies, exposing flaws in the region’s energy policies. High energy costs hurt manufacturing, with firms from chemicals giants to glass makers and metal smelters forced to reduce output or shut down altogether.

“The UK has made some daft decisions in nuclear,” Ratcliffe said. “Competitive energy is critically important if you want to continue to have people investing in your manufacturing base. And if you don’t invest in the manufacturing base, it slowly dwindles away and dies.” ...

https://www.bloomberg.com/news/articles/2023-07-06/british-billionaire-ratcliffe-slams-uk-energy-policy-as?sref=Em01M8Hr

So let us see what news comes out of Pinarova-1.

As you say, the share price has come down a long way. At this level, it wouldn't take much good news to have a positive effect on the share price.

Mugtada,

You're overlooking where UKOG was coming from before its rise to 11p.

Agreed, Robbie. Looking forward to updates on the progress they are making

Https://drillordrop.com/2023/07/05/uk-onshore-oil-and-gas-production-in-charts-april-2023/

Https://drillordrop.com/2023/07/05/uk-onshore-oil-and-gas-production-in-charts-april-2023/

UK Energy Storage Ltd (UKEn): "We're using hydrogen to power our big machines and it's a revelation," says JCB boss Lord Bamford.

https://www.dailymail.co.uk/debate/article-12264355/Were-using-hydrogen-power-big-machines-revelation-says-JCB-boss-LORD-BAMFORD.html

Remedial Engine Maintenance

As communicated on 3(rd) July, following a planned maintenance shutdown of the Saltfleetby Field facilities from 19(th) to 21(st) June, problems were identified with the performance of the second compressor engine and the field has subsequently been operating with a single compressor at an average daily rate of 6mmscfd. The remedial work on the compressor engine was successfully completed in the afternoon of 5(th) July and the field has returned to dual compressor operation with all three wells on stream.

Cutting oil and gas production would be "dangerous and irresponsible", the boss of energy giant Shell has told the BBC.

Wael Sawan insisted that the world still "desperately needs oil and gas" as moves to renewable energy were not happening fast enough to replace it.

He warned increased demand from China and a cold winter in Europe could push energy prices and bills higher again ...

https://www.bbc.co.uk/news/business-66108553

Not the company, ZYX098, unable to answer for them.

From the interim results RNS of 26/06 (Monday of last week):

We await the results of geochemical analyses of oil samples collected from the well's mud pits, the nearby shallow oil seep and the nearby East Sadak field in due course from our chosen UK specialists. These results will tell us whether the seep and Pinarova oils are from the same deeper source. Given the oil to surface we remain bullish about the prospect's viability and are investigating whether an additional deeper target sits below Pinarova within the Cretaceous Mardin and Beloka section, the proven reservoir at Basur-1 and the nearby producing E. Sadak field.

100 + 50 = 150

150 - 25% = 112.5

Gain of 12.5

Note the title of page 5: "Large-scale gold discoveries within the Clogau mine"

For those who may have missed it and now that the dewatering permit has been granted:

https://www.albamineralresources.com/wp-content/uploads/2023/05/20230526-Alba-AGM-FINAL-1.pdf

But GROC's ambitions are big and Alba's financial resources are not of the same magnitude.

To create a Greenland-focused company in which Alba retained a significant (initially, a majority) percentage.

ALBA was remunerated with its percentage share of the floated company.

GROC was floated with the cash resources raised by the IPO.

Pactrol,

The money raised from the GROC IPO went to GROC.

... the proceeds from the Placing are intended to be used to accelerate value-enhancing activities across the Company's portfolio including:

...

- At the Lower Llechfraith mine area, the Company's highest priority gold target at the Mine, where a 122 m extension to the Llechfraith payshoot has been identified in Alba's drilling, ongoing operations in respect of the dewatering and subsequent safety and exploration works, including winzing and bulk sampling ...