Member Info for ocelot

Negan,

GL is the person to whom you can address any questions you may have, as his answers to Investor Questions of this morning have shown.

Prices for graphite in the battery supply chain have not moved much this year, kept down by softness in the global steel industry.

The often overlooked anode material may be on the brink of a breakthrough, however. Benchmark Mineral Intelligence at its BenchmarkWeek annual industry gathering in Los Angeles predicted that EVs will become the main source of demand for graphite next year ...

It's true that Admin seem to be keeping a closer eye on this board just recently - thank you, Admin!

The Sidetrack, assuming successful, has always been envisaged to equal the production of the two existing wells. What is different about the Sidetrack to achieve this output ??? Asked on 11 November 2022

The sidetrack is running a parallel track to Well SF01U which was killed and shut in because of a technical failure in the well bore. Prior to this event, this was the best producing well at the site and delivered well in excess of 5 mmscfd over a long period. So we have every expectation that this area of the reservoir will continue to be highly productive.

Why has the horizontal leg of the side track been increased from 300-400 metres to 500 metres? Asked on 23 November 2022

This has always been a moving feast and it will be so even as we are drilling it. Final open hole size could still be slightly adjusted, as equipment for both is available, but we will settle finally when casing operations are concluded in the next few days. With a smaller hole size we may drill a little further to increase deliverability and vice versa.

Just want to say thanks for answering all these questions. I know it must be challenging at times. The responses are very useful for those of us with little or no Oil & Gas knowledge.
Thank you. Asked on 1 December 2022

Thanks. We also hope to add a helpful infographic video on progress on the well in the next day or two.

Has the company made a decision on a new revised CPR early in Q1 yet? Thanks. Asked on 29 November 2022

Yes. We will be engaging in a further CPR in Q1 2023. This would be to take into account actual flow rates and pressures from the existing wells as well as the third or side track well presently being drilled and additionally the higher prices generally prevailing since October 2021 as well as the ever shifting fiscal landscape.

This would also explore the contingent resources available from the southern lobe. To the extent that the Company is committed to drilling the southern lobe, with a funded plan and resonable expectation of permitting, a then a great proportion, certainly the majority, of these substantial contingent resources could be raised to the level of reserves. By way of information this would increase recoverables by a significant factor as present P90 reserves are 18 bcf and C1 resources are 12 bcf.

1/ Preparatory work towards converting HH-2z into a produced saline water reinjector continues. (RNS of 15/08/22)

2/ With respect to the June 7(th) 2022 grant of planning consent for the Company's 100% owned Loxley gas appraisal project the Company will now implement a pre-planned farmout programme, whereby the Company's costs would be either fully or part carried by any farminee ... (RNS of 20/07)

3/ Once the seismic has been processed, final versions received in house, interpreted and a new top reservoir map made, the Company will provide a further update of the results. The Company will then focus firmly upon the delivery of a new Basur appraisal well, now anticipated to be able to add near-term oil production to the Company in H1 2023 ... (RNS of 16/09)

4/ The Company continues to talk to interested parties, potential contractors and potential strategic partners and to shape its vision for this new long-term project which is at the planning stage ... (RNS of 20/07 re Portland)

Good comparison graph tweeted on GROC an hour ago showing the enormous shortfall for natural graphite between 2022 supply and 2035 forecast demand (other critical minerals are also shown).

DoneK,

For a long time, there were those who derided anything positive on here (some of them may still be around, but I have filtered the most persistent).

Temperatures are poised to plunge next month in Northern Europe as cold air blows in from the Arctic in what will be the first proper winter test for the region’s fragile energy systems ... (from Bloomberg)

The front month has shifted today to January: 368.98p at present, up 7.6%:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data

Yes, I am.

If you search through the answers to Investor Questions on Angus's website, and if I remmber right, I think GL has already provided a positive answer to your question.

Don't overlook Angus's additional sources of revenue, from condensate at Saltfleetby, from oil at Brockham.

And that is just Saltfleetby, but we know they have ambitions to grow Angus through M&A plus hopes for further development of Saltfleetby next year, Lidsey, Balcombe (assuming the appeal decision is favourable), geothermal, ...

Does anyone know how much Angus owes out before they see a profit?
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2 different things: repayment of debt concerns the balance sheet, profit concerns the income statement.

So a company can be repaying debt at the same time as it is making a profit.

8 now:

Has the company made a decision on a new revised CPR early in Q1 yet? Thanks.
Asked on 29 November 2022

A reminder that UKOG has no real financial debt.

Borrowings at 31/03/22 amounted to £3.092m.

But these borrowings consist of advances made by HHDL's non-controlling shareholders (Alba, Doriemus) to HHDL.

Their repayment is determined by HHDL and, therefore, since UKOG controls HHDL, by UKOG.

So, in reality, although classified as borrowings, they are in the nature of investments in HHDL.

Thank you for this, scotalba.

Nothing to be done, just a question of waiting for the wheels to turn.

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5351155