Member Info for ocelot

Just reminded myself of UKOG's last tweets: 20/07 re the Portland hub and this one re Basur-Resan:

BASUR UPDATE: Our focus for the next 6-9 months is firmly on delivering new seismic and Basur appraisal well, now anticipated to be able to add near-term oil production to the Company early in 2023, subject to necessary funding.

Since that 20/07 tweet, the necessary funding has been raised.

Negotiations around the pre-planned Loxley farm-out programme are doubtless delicate, so one fully understands the lack of news on this subject until a deal has been finalised, but it would be nice to have some news re planning for Basur-Resan.

5 trades so far, including 1 on Aquis.

GROC is making good progress, but Alba remains stymied by NRW's dewatering decision.

UKOG could do with getting their share price up!

In fact, a player might not need to bid for all of the company, they could aim for, say, 29.99%, just below the obligatory bid threshold.

In theory, that kind of stake would give them very considerable weight within the company.

The front month, November, closed down below 200p at 191p, but December closed at 360p.

Presumably, some very short-term pressures such as maybe LNG deliveries combined with lack of storage:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5351154

I can't see any of the 3 posts above mine of 13:04 because they are all green boxes, but I assume they are criticising me for saying something that is self-evident.

The share price seems to be slipping in the absence of news.

The lower the share price slips, the more likely a potential farminee for Loxey will become a potential bidder for the company.

https://acp.planninginspectorate.gov.uk/ViewCase.aspx?Caseid=3282246&CoID=0

Don't agree with your post of 14:47, Mures5.

There is very little point in discussing fracking or Braverman's intention to rein in protestors if the key members of cabinet concerned no longer find themselves in government in the near future.

From a Citywire article of today:

Rising oil and gas prices have made energy stocks almost impossible for global equity fund managers to ignore as the sector has been the leading performer in 2022.

Energy stocks had dropped in popularity in recent years over climate concerns but a combination of high oil prices, bumper yields and improving environment, social and governance credentials has seen them return to portfolios, according to a Morningstar report ...

‘[Energy stocks have] increasingly been ignored by fund managers, especially with climate discussions becoming more and more prominent, but recent dynamics have seen them back on the radar in some quarters,’ said Jonathan Miller, Morningstar’s head of UK manager research ...

The prime minister will not answer an urgent question from Labour in the Commons later - the party had asked for her specifically to respond.
Instead, Penny Mordaunt will be the government minister who answers Labour leader Sir Keir Starmer's query. (BBC's rolling live coverage)

If Truss goes, it will be for her successor to decide who amongst the members of the present cabinet will accompany her.

Just watched the video of Hunt's presentation: pretty impressive, well done, Sir!

We have witnessed an utterly extraordinary un-Budget, perhaps marking the biggest U-turn in British economic history.

Roughly £45bn of unfunded tax cuts has in just three weeks and three days seen a £32bn reversal.

We may need new terminology. "U-turn" suggests a controlled manoeuvre. This is like a plane trying to do the jet engine equivalent of a handbrake turn ...

(Faisal Islam on the BBC's rolling live coverage)

UK financial markets will get a fresh opportunity to pass judgment on Prime Minister Liz Truss’s economic program on Monday without the Bank of England around to offset any turmoil.

Rarely has a developed economy’s political fortune been so caught up in market gyrations. Traders’ brutal rejection of the premier’s fiscal plan have already sent the pound to record lows and forced Truss to sack Chancellor Kwasi Kwarteng, leading to the rollback of some of her marquee tax cuts. Questions about what would it take to bring back investor confidence and Truss’ own future are also swirling ... (from Bloomberg)
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Looks as if the markets may well play an important part in Truss's future. The appointment of Jeremy Hunt was (imho) a very good choice, let's see how things go tomorrow.

Bank of England Governor Andrew Bailey said he has already spoken to the UK’s new chancellor of the exchequer, Jeremy Hunt, and they agreed on the importance of fiscal sustainability.

“The very clear message is there is a very clear and immediate meeting of minds on the importance of sustainability,” Bailey said at a panel discussion in Washington on the sidelines of the International Monetary Fund meetings ... (Bloomberg).

Signs of hope, if the Treasury and the Bank are talking the same language again.

What a horrible few weeks these last few weeks have been.

Experienced player, Jeremy Hunt, economic policy already sounds more mature after his interview with the BBC this morning.

Editorial in the Times: "Pernicious Protest. The public authorities must crack down on vandalism by climate campaigners".

" ... They (these protestors) are driven not by idealism but by fanaticism ... Nothing can be usefully done to reason with them; all that remains is to interdict their methods and punish them when caught ...

It is to be hoped that the despoilers of Van Gogh's sunflowers face exemplary sentences for criminal damage ...

It is past time the public authorities cracked down on such vandalism ...".

When will we know the conclusion of the Loxley pre-planned farm-out programme?

What will be the terms?

'The government owes the country an apology' - David Gauke

That might be the way for Truss to get off the hook, at least for a while. She couldn't bring herself to do it today and time is running out.