Member Info for ocelot

On the rival site, there's almost a 150m difference between total volume and the detail of published trades: looks as if a big trade has gone through recently.

Same placing price of 0.0875p as the previous placing of 27/07 but £3m raised on this occasion instead of £1.25m.

Clearly, between 27/07 and 12/09 the market in UKOG shares has improved.

Puggley,

The government has recently changed, UKOG's plans did not begin last Tuesday when Truss was appointed PM by the Queen.

Reasons for the Placing and Use of Proceeds

The placing has been undertaken to provide the Company with a source of general working capital and to help deliver the Company's previously stated near term goals of completing the Phase 2 Turkey seismic programme and the subsequent drilling of a new appraisal well in the Basur oil discovery, anticipated to be able to add near-term oil production to the Company in H1 2023.

Agreed, Stockraiser.

We all knew there was going to be a placing, the company had told us so. Pleased they've not wasted any time and it's done.

and Ibug will be pleased to see they have informed the market of the change of their CFO.

£3m.

I think the market may applaud that. They haven't waited for the first half of November, they've got it out of the way, the road ahead is clearer.

Ibug,

Sorry, but the extract I quoted from your post was written by yourself.

You've not answered my question: ... what do you propose, given the economic conflict with Putin?

– So will fracking make a difference to bills?

No. UK energy prices are driven by international gas prices and even if fracking was pursued at scale – which even with the lifting of the ban remains an uncertain prospect – UK reserves of shale gas are too small to bring down those global prices.
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Ibug, it's all very well to criticise constantly, but what do you propose, given the economic conflict with Putin?

Low valuation attributable to insufficient cash generation, so need for a new placing by the 1st half of November, according to the company itself.

On the plus side, possesses some potentially very interesting assets:

the most valuable of which currently looks to be the Loxley gas field (caveat: commerciality remains to be confirmed because of delays caused by the UK's regulatory regime);

Basur-Resan in SE Turkey looks to hold considerable potential, too.

The new energy policy of Truss's government should help to make life easier for UKOG than it has been during these last several years.

Looking for some sort of a bullish move shortly.

From the answer to an Investor Question asked on 15/02/22:

"Our appeal at Balcombe is likely to be heard before the end of Q3".

Since then, Putin has invaded Ukraine and the UK has a new PM and Secretary of State for Energy - we shall see.

If they have any sense they will call the election early while UK residents are still getting the benefit of the price cap.
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The price cap provides certainty, and limits the price rise, for the next 2 years, but it still leaves people a lot worse off than they were 12 months ago.

I'm sure, like any government, this government will be keeping a close eye on the polls but it isn't the price cap alone which will enable them to turn around Johnson's electoral legacy.

Shale gas extraction – better known as fracking – could eclipse North Sea production within 15 years after Liz Truss lifted a controversial ban.
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Yes, that opens up new perspectives for the future.

The year's not over yet.

The government only changed last Tuesday and has already made it clear it will be taking a different approach to the energy industry from that of Johnson's.

We await news, in particular, of Loxley's pre-planned farm-out programme and of Basur-Resan.

I know of many arid countries that have desalination plants. Anything above the equator and up to about 40N. Take your pick.
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But you also said this, Ibug:

"You really do need to move in an oil rich environment. It is one of our biggest exports ...",

and Israel fits that description, too.

"Now we discover that we need all the gas we can find and have to pay through the roof for it."
But we will still have to pay through the roof for gas. It will just be a British roof and not a foreign one.
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Yes, of course, but when Europe and Asia are in competition for all the gas they can find, it seems nonsensical to allow the UK's regulatory regime to postpone exploration and production in the UK.

And I've still to understand the attraction for environmental activists of importing energy from outside the UK.

Think it's become a jewel of investment, one which, starting from an exaggeratedly low base, is set to grow and grow over the years to come.

Best wishes to all those invested, or thinking of investing, in ANGS.

Surrey CC's planning committee voted against Loxley approval by just 1 vote, but that 1 vote has led to a delay of about 2 years.

Now we discover that we need all the gas we can find and have to pay through the roof for it.

One can only wish Jacob Rees-Mogg all the best in bringing some rationality into what seems to be an outdated system totally unsuited to economic realities.

PS: I wrote that Ninetails should be pleased with the gain he has made on the recent share price rise. I am assuming, of course, that he didn't let his negativity get in the way of a money-making opportunity.