Member Info for ocelot

If they find oil in any kind of commercial quantity, it won't need a bid to raise the share price!

... We had a great many questions around other assets (Brockham, Lidsey, Balcombe) and projects (Geothermal and Storage) as well a new seismic interpretation and a study on deliverability and volumentrics at Saltfleetby which will be informed a month or two’s flow and pressure data on the third well. We will update with a full presentation to shareholders over the summer on these initiatives whether singly or with a combined presentation online. (answer to Investor Question asked on 31/05)

Last year the amount spent by the UK on energy imports topped £100bn for the first time on record, with DeSmog’s analysis indicating that the UK spent more than £125.7bn on fossil fuel imports in the year beginning February 2022.

Looking for share to close above 5.7p. If achieved, next objective is 7.5p.

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Closed at 5.75p on Friday.

We are hearing about the Namurian reservoir now but the Southern lobe has become less prominent.

In exchange for selling his 49% stake, Paul Forrest gained an investment in a liquid asset, Angus shares.

European natural gas futures soared as much as 23%, as traders reassess supply risks amid signs of global competition for the fuel and a heat wave bearing down on the region.

The benchmark contract is on course to end the week 38% higher, the most since last August, near the height of Europe’s energy crisis. It’s also the first weekly gain since March.

Friday’s surge is the latest example of extreme volatility this week, after the contract appeared to find a floor around €23. While high inventories and subdued industrial demand have depressed prices in recent months, traders are on edge about the possibility of tightening supplies ...

https://www.bloomberg.com/news/articles/2023-06-09/europe-gas-prices-surge-to-three-week-high-as-heat-sets-in?srnd=premium-europe&sref=Em01M8Hr

I've pull together some previous Investor Questions and answers re the possibilities of Saltfleetby:

1/ Is there any significant oil at SFB that you will be looking to extract at any point in the future? Asked on 23 November 2022

No plans as of yet. There is oil but we have never evaluated whether it has commercial significance.

2/ What is the geological & commercial chance of success for the 2 sidetracks at SFB Asked on 1 September 2022

Only one side track is immediately planned on well 7 and I refer you to earlier extensive answers already provided on these page – we view Chance of Success as extremely high.

A potential further side track into the southern hemisphere from another well has been carefully considered and planning and permitting work will begin shortly. The Chance of Success here is definitely good but harder to evaluate at this stage but this further side-track would open up considerable new resources whereas the immediate side-track is merely accelerating production of known resources by re-entering a part of the reservoir which was historically highly productive ( and the old well addressing it was shut-in only due to a technical failure of the well-bore unrelated to the productivity of the reservoir itself).

3/ Will there be further sidetracks at SBY in future to reduce the hedged gas at these high prices. Thankyou, and keep up the excellent work. Asked on 1 July 2022

Yes, although none planned for 2022. We would like to open up the southern lobe of the field in 2023 where we see low cost side tracks for high potential returns.

4/ When will the full remap images of Saltfleetby be available, and would you buy/lease further equipment to enhance production from other areas of the licence. Thankyou. Asked on 8 November 2021

We are waiting on input from partners on our interpretation and will update on that and discussions with neighbouring licence holders as soon as it is received.

In fact, the last thing UKOG wants to do at Loxley is actually drill a well - it’s worth more to hype what might be discovered (probably nothing) rather than face the music with a dry hole.

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Can you provide an estimate of what the "hype" is worth in terms of UKOG's share price?

European natural gas futures soared as much as 23%, as traders reassess supply risks amid signs of global competition for the fuel and a heat wave bearing down on the region.

The benchmark contract is on course to end the week 38% higher, the most since last August, near the height of Europe’s energy crisis. It’s also the first weekly gain since March.

Friday’s surge is the latest example of extreme volatility this week, after the contract appeared to find a floor around €23. While high inventories and subdued industrial demand have depressed prices in recent months, traders are on edge about the possibility of tightening supplies ...

https://www.bloomberg.com/news/articles/2023-06-09/europe-gas-prices-surge-to-three-week-high-as-heat-sets-in?srnd=premium-europe&sref=Em01M8Hr

July at 77.66p, + 22.5%

Https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5419492

A judgement is expected to be handed down later in the summer. Full planning and environmental consents remain in force. (from yesterday's RNS)

... If one does the most basic of maths calculation and say what is the value of the product under the ground, it comes at $1,000/tonne x 4.71mt = $4.71bn. If you then shave off 90% to factor in lack of conviction on the accuracy of the JORC report, dilution, known unknowns such as CAPEX/OPEX you still get a value of $471m which if you exchange for GBP comes to a value of £378m (£1: $1.2447 at time of writing). This is c.55 times the current market capitalisation of the company and it is this sort of upside that was observed in early 2019 with Eurasia Mining i.e., the huge disparity between the market capitalisation and the potential value of the product in the ground ...

Https://www.share-talk.com/company-profile-aim-groc-greenroc-mining-plc/

Thanks to SuePud1 on the GROC board.

In today's briefing tweeted by Alba and GROC:

looking for share to close above 5.7p. If achieved, next objective is 7.5p.

Don't think births should be allowed until it can be shown there will be no impact on climate change (I AM joking!).

Extraordinary story, Mullins!

Like the comparison with Land Securities and British Land, long-term survivors in what can be, at times, a very difficult market. And then you've got Woking Council, less well known for its expertise in property investment and management.

... The Treasury said its decision had reflected those warnings.

It said any fall in investment "puts the long-term future of the UK's domestic supply at risk, meaning we would be forced to import more from abroad at a time when reliable and affordable energy is a focus for families and businesses" ...

https://www.bbc.co.uk/news/business-65853400

Industrial demand for gas in Europe’s largest nations remains depressed despite lower prices, as an economic slowdown weighs on consumption and customers pivot toward renewable energy.

Demand for the fuel in Germany, Italy, the Netherlands, France, Spain and the UK fell 9.7% in May from a year earlier, according to data from S&P Global Commodity Insights. That means consumption is lower than levels last year, when the European Union was trying to conserve gas ahead of the winter.

While that’s the smallest decline of any month this year, it underlines that European industries are struggling to bounce back from the energy crisis that followed Russia’s invasion of Ukraine. Industrial activity in the euro area is shrinking, and there are fears that some demand destruction could be permanent ...

https://www.bloomberg.com/news/articles/2023-06-09/weak-european-industry-is-keeping-gas-demand-depressed?srnd=premium-europe&sref=Em01M8Hr

Trutti,

There are questions I choose to answer and questions I choose not to answer.

I wouldn't read too much into that.

Best wishes.