Member Info for ocelot

"Fear of missing out" drives London stock market rally (The Times, p54.

"A fear of missing out among institutional investors was likely to be returning, particularly amongst asset managers that had 'stayed on the sidelines, sticking to the stagflation playbook of 2022', Barclays said".

As an AIM-listed energy micro cap, UKOG's profile is very much that of a stock likely to be affected by FOMO amongst PIs.

UT of 157.1k shares.

c69.2m at 0.058p from 14:59:56

Fair enough, but my comment had more to do with how the market sees the price of gas evolving than with Angus's hedging arrangements.

From UKOG's last annual report, to 30/09/21, p61:

The Directors have carried out an impairment review as at 30 September 2021. The Directors determined that
the net present value of the HH-1 well was £3.63 million and therefore determined that HH-1 should be impaired
by £1.46 million ...

See p46 of Alba's last annual report to 30/11/21 for their corresponding impairment of HHDL:

https://www.albamineralresources.com/wp-content/uploads/2022/05/2021-Alba-final-Financial-statements-FINAL-for-web.pdf

Re ICE futures prices:

note that Winter 24 (151p) is almost the same as Winter 23 (153p). It is only in Winter 25 the price comes back, to 125p.

But, clearly, they have acted in conformity with the requirements of the Nomad.

At the same time, they are not required to disclose information which may be damaging to them commercially.

One for the lawyers.

There is certainly at least one circumstance in which SS would not be required to explain the reason for side-stepping the dual completion of HH-1 and this is if he thought it involved the disclosure of commercially valuable information.

Don't ask me what this could be, I do not know.

European natural gas futures slumped below €50 for the first time in 17 months as the region’s worst energy crisis in decades recedes, but with signs that further price declines are unlikely ...

However, analysts question whether the decline in prices will persist much further. With the end of winter approaching and heating demand receding, lower prices could make gas more economical for power generation in Europe than alternatives such as coal.

“Gas prices have fallen into the fuel switching range suggesting that it is now more profitable to run the highest efficiency gas plants in comparison to the lowest efficiency coal plants,” Stefan Ulrich, an analyst at BloombergNEF, said.

Demand is also picking up from India to China. Prices could also rise if there is extended cold weather before the end of winter or if there are supply disruptions.

“We’re getting to a level where the downside is probably more limited whereas still there’s clearly upside, particularly if you get the strong economic growth in China,” said Steve Hill, executive vice president for energy marketing at Shell Plc, in a presentation on Thursday. “We are clearly approaching that range.” ...

https://www.bloomberg.com/news/articles/2023-02-17/european-gas-falls-below-50-as-historic-energy-crisis-recedes?sref=Em01M8Hr

... but less enjoyable.

Think the market should get behind SS. We can see he's an ideas man who doesn't give up easily (BB, HH-2z).

The Portland project, in particular, looks to be of "national significance", ambitious and of size, but Loxley is a significant project, too.

Would like to see a market cap of about £50m so a share price of about 0.30p. At this level, the company can raise the finance required to fund properly some of its ambitions.

At the present time, its share price is holding it back.

Yes. Average trade size remains high for the stock, about 4.5m shares after 85 trades.

298.4m now.

Or holders getting in a tizz?

Time, as always, will tell.

It's also the week in which the Balcombe decision was successfully overturned: Balcombe has been totally overshadowed by Saltfleetby.

SS has always run a tight ship so the market may not provide any clues as to an approaching RNS re 1/ Turkey or 2/ Loxley.

1/ is likely to be a 7am RNS but 2/ could come at any time, just depending on when an agreement is finalised.

4th biggest volume on the market at present so it is definitely on people's radar.

... and 1p about £177m of market cap.