Member Info for ocelot

Would add to Jamesthesecond's post:

as more cash is being generated, so Angus's profile is becoming much more "classic" for potential lenders, opening up new financing possibilities.

Https://www.bloomberg.com/opinion/articles/2023-05-13/lithium-mining-giants-have-underestimated-the-wave?srnd=premium-europe&sref=Em01M8Hr

... A decade ago, the likes of lithium, cobalt and graphite were minor materials, affected less by electric vehicles than the markets for lubricants, drill-bits and smelting equipment. Nowadays, battery demand is so intense that rising prices risk holding back the energy transition, and major industrial consumers are rushing to lock down supplies. There are few better ways to finance the multibillion-dollar investments needed to decarbonize our economies than letting the balance sheets of giant companies loose on the problem — so where have the major miners been? ...

No one flagship but several projects.

Not an industry expert, ZYX098, do recognise your technical knowledge is infinitely deeper than my own!

Seems to have been some of GL's "buy the rumour, sell the news" in action today.

Happily, there is more "rumour" to come.

Gary you are running gwilliams71 and ZYX098 ...

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JR90,

The written styles of these 2 posters are very different: I have gwilliams71 on filter whereas it has never occurred to me to filter ZYX098.

I think you are mistaken to associate them both.

Volume of shares traded: 20.4m

David Lenigas has spoken of new technology.

Note that, in Angus management's Q&A of this Wednesday, Richard Herbert, the CEO, spoke of new muds which greatly helped with the successful drilling of the sidetrack.

No mention of the legacy assets and the payment of a dividend seems to have become less of a priority.

The focus of the company appears to be more laser-like:

1/ Saltfleetby;

2/ external growth involving a target which could be larger than Saltfleetby without straining the company's balance sheet too much.

They want to be of a size to attract institutional interest. GL mentioned again a market cap of £100m as the necessary first hurdle to be attained.

The front month may be trading around 80p but the prices for the Winter months of 23 and 24 remain in the 140s-150s range:

https://www.ice.com/products/910/UK-NBP-Natural-Gas-Futures/data?marketId=5419493

Whoops! My screen had frozen.

TURKEY LATEST: Testing continues at Pinorova-1 over zone corresponding to strong oil odour and oil to surface.

From 23:42, Richard Herbert:

"We're going to be strongly cash generative in the next phase of the company ...

... and the company is growing up and preparing itself for bigger things".

2nd biggest volume stock on the market: 185.9m at present.

Good stuff from about 30:55, where GL says "there's no point in being so small" (in market cap terms) and where he speaks of one of the reasons for Richard Herbert being here is his credibility in bidding for larger assets, substantially larger than perhaps even Saltfleetby is.

So: 1st priority is to develop further Saltfleetby;

behind that, ambition and, In GL's word, necessity, is to grow Angus.

If you're going to chase away Push2 from the board, then you should, at least, be able to replace his industry knowledge with your own.

Otherwise, it's just a straightforward loss of knowledge for the board.

We lost him because of the creation of what was close to being a lynch mob that Wednesday evening - it was totally disgraceful.

3rd Resistance Point 0.080

2nd Resistance Point 0.078

1st Resistance Point 0.074

https://www.barchart.com/stocks/quotes/UKOG.LN/opinion

The board is quiet because it has lost one of its principal contributors.

Simply to ask this question does suggest the region is very under-explored.