Member Info for ocelot

If only you were a WhiteKnight, WhiteNight, you could propose your services!

Indeed, because of the taxation system in the UK, Angus will NEED to invest elsewhere!

Angus's share price rose through the session so, judging by the share price, the Saltfleetby sidetrack is looking promising again.

If successful, then Angus will be highly cash generative and looking to invest elsewhere and Loxley, an "attractive asset" in George Lucan's eyes, would appear to make strategic sense.

Angus also have Balcombe to test and the gentleman with the greatest knowledge of the Kimmeridge is SS.

Is there a potential deal to be done?

The questions weren't good but he came across as reasonable and thoughtful and as someone who knows what they are talking about.

There is nothing new in certain posters being negative on UKOG and others (including yours truly) being positive.

What is new as of 7am yesterday is the Loxley CPR, its implications for UKOG's net asset value and perhaps for the farm-out of Loxley.

This is where attention should be focused.

Just casting an eye over recent trades, is the selling drying up?

An investor in UKOG who remains below the 3% threshold for declaration purposes.

Volume in excess of 50m at 52.5m - looks as if today's session is a pivotal one.

PS: I find the tit-for-tat exchanges of the comments at the bottom of Drill or Drop articles quite entertaining on occasions and sometimes quite informative.

Drill or Drop's coverage of yesterday's Loxley RNS:

https://drillordrop.com/2023/02/21/report-estimates-potential-value-of-ukogs-surrey-gasfield/

ZYX098,

Yes, tax law requires close scrutiny and is not everybody's cup of tea.

A reminder from p59 of the last annual report:

The Group estimated carried forward tax losses are £10,799,000 (2020: £6,529,000), none of which are
recognised as a deferred tax asset.

Confidence is returning more or less by the second in Angus's Saltfleetby sidetrack.

Confidence should return in UKOG's prospects, too.

1/ Loxley's illustrated potential commercial robustness also means that UKOG can now plan to fund a future development via normal conventional oil and gas debt funding.

This is major news and should help relieve some of the pressure that has been exerted on UKOG's shares all through the last years by worries about the next placing.

2/ The directors believe that UKOG will be able to offset a significant portion of the CPR's calculated Corporation, Supplementary Charge and Energy Profits Levy taxes against prior UK onshore sunk costs and future investments, further improving the Company's net revenue from any future Loxley production.

This suggests there is potential for the CPR's net present value figures to be uplifted by management initiatives.

Angus's Saltfleetby isn't strictly comparable, because it's a proven gas field, but if their sidetrack proves to be a success (and we should know very soon), that might provide a further boost to sentiment.

No idea, Mullins, the mention of the farm-out came across as a bit of an aside in the RNS, but the CPR certainly strengthens SS's hand is any negotiations.

That’s why I have bought a lot of shares in the last few months. The assets are just too good.

David Lenigas, yesterday morning at 8:10 on the rival site

No shares in UKOG. They hold shares in HHDL, the operating company for Horse Hill.

David Lenigas has been posting on the rival site. This is from 08:20:

This will be a rebuild year for UKOG. That’s why I have bought a lot of shares in the last few months. The assets are just too good.

The mid-case 2C post-tax net present value of £124m =

0.588p per share.

THEIR!