Member Info for ocelot

As long as that, is it? Wow!

David Lenigas on the rival site at 13:01:

It’s me alright. If this site allowed photos I’d take a selfie.

better trade: almost 8.5m at 0.118p 5 minutes ago.

Just reminded myself of the date of the RNS re the submission of renewed permit applications: 31/10/22, 4 months ago.

The Company and its joint partner Aladdin Middle East consider Pinarova to offer similar potential success case outcomes to a Basur-4 appraisal well, but at much lower drilling and development costs and with a shorter time to execution and delivery.

Crocqman,

Think it is the net short that has to be disclosed.

This is what I’ve been waiting for re UKOG. Drill drill drill. (David Lenigas on the rival site at 07:47).

Stephen Sanderson, Chief Executive, commented:

"Pinarova's prospectivity, potential success case oil volumes and modest drilling costs make it an attractive stand-alone project that could, in the success case, deliver oil production in H1 2023. Given the positive shallow oil seep evidence plus the good light oil shows encountered within Pinarova by the Kezer-1 geothermal well, the new well will seek to establish if that oil is present in commercially viable saturations and volumes that can be pumped to surface. We look forward to the impending start of site construction and subsequent drilling directly upon its completion."

PS: It is relatively easy to put together an argument to suggest UKOG should be valued at about 0.50p per share.

It is much harder, if not well-nigh impossible, to argue it should be valued at its current market price of 0.064p.

book net assets at 31/03/22: £36.144m

+ the cash generative prospects of Loxley:

2C net present value at 10% pa = £123.7m x, say, a prudential discount of 0.50 = £61.85m.

Total of c£98m or close to 0.50p per share.

Stopped counting chickens, and cows, a good long time ago, ZYX098!

at 06:40 from yesterday's video interview below.

It's precisely what investors in UKOG have been waiting and hoping to hear for a long time.

We aren't there yet, UKOG and the CPR are aiming for production in 2026, but it is an exciting prospect.

https://www.youtube.com/watch?v=2D-PiibqyzA

ZYX098,

The CPR figures may be meaningless as far as you are concerned but, imho, they do seem to be sufficiently promising as to justify further work being done.

from yesterday's video interview, Loxley is projected to be:

"very cash generative";

with revenues such as to pay back all development costs in the first year of production;

at 06:40: "it's a cash cow for 10 years".

market cap: c£11m

value today of projected 2C cash flows: £123.7m

projected revenue:
for the first 5 years, 2026-2030: £434.6m;
for the first 6 years, 2026-2031: £480.7m.

Europe’s gas supplies could be hit harder by a bigger-than-expected jump in Chinese demand this year than from a complete halt in Russian flows, according to the International Energy Agency.

While Chinese demand is the “big unknown,” a bullish scenario could see the country’s liquefied natural gas imports surge as much as 35% in 2023 if costs fall further and its economy expands quickly, the IEA said in a quarterly report. That would boost global competition for the fuel and may push prices back up to the “unsustainable” levels seen last summer, it said ...

https://www.bloomberg.com/news/articles/2023-02-28/china-s-gas-demand-is-a-bigger-worry-for-europe-than-russia-cutoff?srnd=premium-europe&sref=Em01M8Hr

The debt consists of advances made by the minority interests in HHDL (Alba, Doriemus) to HHDL.

But UKOG controls HHDL and, therefore, controls the repayment of this debt which is, at the present time, effectively perpetual.

Re Loxley:

what we don't know is if SS had received any requests from those potentially interested in the farm-out requesting an up-to-date CPR.

If yes, then this could move quite quickly now.

Turkey, imho.

Had a meeting with Turkey partners this last Thursday. Drill still very much on track for Q1, despite the earthquakes.

"We hope to be making some announcements on that very soon".

She was right about Angus having received approaches for Saltfleetby so let's wait and see.