Member Info for ocelot

Britain’s exposure to supply risks and price spikes is likely to persist next winter after talks between the UK government and the nation’s biggest energy supplier on funding the expansion of its natural gas storage stalled.

Centrica Plc, which re-opened the UK’s biggest storage facilty — Rough — late last year at about a fifth of its former capacity, wanted consumer-funded minimum revenue guarantees to assist its investments in the facility. But negotiations with the government have seized up for now, according to people with knowledge of the matter.

The issue is vital because curbed Rough capacities leave the country with just nine days of gas storage — a fraction of Germany’s at 89 days — highlighting Britain’s vulnerability to prolonged cold snaps or supply disruptions. The risk hasn’t materialized so far this winter thanks to mostly mild weather both in the UK and continental Europe, but there’s no guarantee the next heating season won’t be more difficult given record-low gas exports to Europe from Russia ...

https://www.bloomberg.com/news/articles/2023-02-06/uk-key-gas-storage-expansion-in-limbo-as-funding-talks-stall?srnd=premium-europe&sref=Em01M8Hr

Goldman’s Jeff Currie warned the global oil market faces a “serious problem” as spare production capacity may run out by 2024. He sees prices back above $100 this year. (Bloomberg opening round-up of market news)

Note: UKOG isn't just "pleased" to announce, it is "delighted" to announce.

PEDL234 Loxley gas discovery update

UK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that SGN (southern England's gas distribution pipeline network operator) has confirmed that their Local Transmission System ("LTS") can accept all the potential future gas production from UKOG's 100%-owned Loxley gas discovery. SGN's capacity thus provides a clear route to the wider gas market and the monetisation of Loxley's gas.

SGN's network analysis demonstrates that the LTS can readily accept 34,500 cubic metres per hour (equivalent to 30 million cubic feet of gas per day), corresponding to Loxley's high-side forecast field production rate. A pipeline routeing study to the identified grid entry point can now commence.

All regular readers of this board are very accustomed to reading negative posts about UKOG on it.

What is refreshing is that a well-known market player, David Lenigas, has recently released a number of positive tweets on the stock.

100Centurion has brought these tweets to the attention of the board for which I, personally, thank him.

PS: I see iceagefarmer has posted some of David Lenigas's recent tweets on that other site.

:-)

Yes I do, puts a smile on my face every time.

Pure Charlie Chaplin.

Like the video in the 09:46 post, Charlie Chaplin-esque.

some of the recent tweets from David Lenigas.

Hadn't seen them before, appreciate you having posted them, 100Centurion.

Needs to keep an eye on exactly how many he's holding, the 3% threshold for declaration purposes is about 630m shares.

Goes back to 26/01 and SS's meeting in Parliament with the Energy Minister and South Dorset's MP, but this was David Lenigas's tweet at the time:

Fantastic to see the U.K. Government engaging with
@UKOGlistedonAIM
on this massive Portland Port gas storage project. The U.K. needs more gas storage to become more energy independent. It will save households a lot of money in crush times. Doubling gas storage is a big thing

The Times, p49

The chief executives of RenewableUK, Energy UK, the Nuclear Industry Association, Scottish Renewables and Solar Energy UK have co-signed a letter to Jeremy Hunt.

"Despite our industry's commitment to the low-carbon energy transition, we are concerned there is no clear government plan to deliver green economic growth and continue attracting clean energy investment into the UK".

Concern about offers being made by the US and the EU.

"Emma Pinchbeck, chief executive of Energy UK said: 'Increased costs and renewed international competition risk squandering the UK's lead as a clean technology pioneer" ...

It's been a long time coming, UK stocks have a long way to go to catch up with rival exchanges.

Update: The FTSE 100 advanced to hit a record high after the pound weakened against the dollar following strong US jobs data.

The blue-chip index, which takes in about three quarters of earnings from abroad, extended its morning gains to trade 1%, or 84 points, higher at 7,904, just surpassing the previous peak of 7,903 on 22 May, 2018.

The pound fell 0.9% against the dollar to trade at $1.21 ... (Citywire)

Update: The FTSE 100 advanced to hit a record high after the pound weakened against the dollar following strong US jobs data.

The blue-chip index, which takes in about three quarters of earnings from abroad, extended its morning gains to trade 1%, or 84 points, higher at 7,904, just surpassing the previous peak of 7,903 on 22 May, 2018.

The pound fell 0.9% against the dollar to trade at $1.21 ... (Citywire)

Comeback.

For the first time since 2018, Britain’s blue-chip stocks are set to close at an all-time high.

The FTSE 100 Index climbed 0.8%, poised for a record close. Having managed to avoid a selloff last year on the pound’s weakness, the FTSE 100 Index joined a global equities rally in 2023 with a 5.8% gain, helping the British large-cap benchmark scale an all-time high.

The gauge advanced in 2022, marking the first outperformance in a decade against the MSCI World Index ... (Bloomberg)

GROC tweet from 01/02:

Looking ahead, Stefan says #GROC is focused on getting into production and advanc negotiations with offtake and potential JV partners. The demand is clear with European #graphite needs set to increase 4x between 2022 & 2025 and nearly 10x by 2030.

122.6m now.

c1.6m shares.

https://drillordrop.com/2023/02/02/ukog-gets-more-time-for-loxley-gas-drilling/