Member Info for ocelot

Agreed, more than an hour and a half has elapsed since the share price began to crumble, looks as if the time for panic is over.

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If there is bad news, GL doesn't hang around. He got the news out so fast on Brockham on 28/06/19, there wasn't the time to forewarn another quoted investor in the well.

Attempt to shake out loose holders?

If Adrian is chased away from the board, one can't expect reports on what he sees on this board.

Zak Mir's Traders Cafe:

UK Oil & Gas (UKOG) announced that, as a necessary precursor to its planned Horse Hill-2z Portland formation water reinjection project, the company has now installed three, shallow, groundwater monitoring boreholes at its 85.635% owned producing oil field.

Comment: For those who may have thought that Horse Hill was on the back burner, it can be seen that UKOG is still keen to maximise the value in all of its portfolio.

Zak Mir's Traders Cafe:

UK Oil & Gas (UKOG) announced that, as a necessary precursor to its planned Horse Hill-2z Portland formation water reinjection project, the company has now installed three, shallow, groundwater monitoring boreholes at its 85.635% owned producing oil field.

Comment: For those who may have thought that Horse Hill was on the back burner, it can be seen that UKOG is still keen to maximise the value in all of its portfolio.

SS speaks of drilling down into the Loxley CPR's figures of appendix C. The key page is p74, providing the discounted cash flow figure of £123.7m.

Revenue for the first 5 years, 2026-2030, totals £434.6m, and for the first 6 years, 2026-2031, £480.7m.

https://www.ukogplc.com/ul/Loxley%20PEDL%20234%20CPR%20Release%20210223.pdf

Momentum seems to be building, Mullins. The pace of RNS announcements and of tweets has picked up considerably since the turn of the year.

"We hope to be making some announcements on that very soon", that being the new, shallow drill in Turkey.

Re Loxley, spoke of the speed with which development costs should be recovered from revenue, within the first year of production, so an obvious candidate for debt finance.

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

Describes Loxley as a "cash cow" for 10 years.

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

Stephen Sanderson UKOG's Chief Executive commented:

" The new boreholes are a key step towards delivering HH-2z produced water reinjection, ultimately designed to help reduce operating costs by some GBP250,000 per year and improve the field's oil recovery. The work is fully in keeping with current environmental standards and practices and demonstrates UKOG's responsible attitude towards ensuring the area beneath the site remains as well protected as possible."

Stephen Sanderson UKOG's Chief Executive commented:

" The new boreholes are a key step towards delivering HH-2z produced water reinjection, ultimately designed to help reduce operating costs by some GBP250,000 per year and improve the field's oil recovery. The work is fully in keeping with current environmental standards and practices and demonstrates UKOG's responsible attitude towards ensuring the area beneath the site remains as well protected as possible."

We got through to the end of Friday's session without any negative news so, agreed, it's looking more promising this time.

No, but cash generation should take off if it's successful, enabling them to finance the company's growth.

News of Angus's sidetrack at Saltfleetby might have come through today but didn't.

If successful, Angus will find itself in the position where it has to invest in the UK, in order to reduce its tax liability.

In appearance, Loxley would appear to be a good fit. Then there is the question of price, ...

China’s reopening after the decision to dump Covid Zero has been the central theme in commodity markets at the start of the year. The return to normal life — more driving, more flying — will mean higher oil consumption and spur growth in an economy that remains a dominant driver of global raw material demand.

But Asia’s other giant, India, could prove equally important in 2023. It’s a subject my Bloomberg Opinion colleague Javier Blas explored late last year, and the world’s most populous nation remains very thirsty for oil today.

The country’s Oil Ministry forecast yesterday that fuel demand will grow by almost 5% in the 12 months starting April, easily surpassing 2019’s pre-pandemic record. That pace could almost match that of China — where reopening will make this year’s gain outsized — and easily exceed the International Energy Agency’s most recent estimate.

It’s not just oil. A growing economy feeds power consumption, and in India that basically means coal. Earlier this week, the government invoked emergency rules to respond to an expected year-on-year increase in summer electricity demand of almost 7%. Power stations running on foreign coal will be told to run flat-out to relieve pressure on the domestic mining industry ...

https://www.bloomberg.com/news/articles/2023-02-24/india-s-fossil-fuel-hunger-will-drive-energy-markets-leiipcdg?srnd=premium-europe&sref=Em01M8Hr

For information purposes:

As a whole AIM showed great resilience in 2021. The median salary for CEOs in 2021 is £348,000 and total average remuneration is £968,000. (BDO)