Member Info for ocelot

RNS at 12:47

We all know that UKOG's revenues have not lived up to expectations, for one reason or another. How can this insufficiency of revenue and cash generation be rectified? We await further news re:

1/ Basur-Resan;
2/ Loxley's pre-planned farm-out programme.

Yesterday's announcements by Liz Truss should prove to be a game-changer for energy companies operating in the UK. In its RNS of this morning cited in the post of 08:57 below, Reabold stated that it:

... welcomes this change in policy and notes that it could have a materially beneficial effect on the Company's UK onshore business, including the potential to exploit additional resources within its existing licence interests and other potential opportunities.

Does the same hold true for UKOG? We shall see.

Ibug,

I'll leave it to you to calculate a 6% gross royalty on Arreton's revenues.

Then you've found the explanation as to what became of UKOG's promise to pay 6% of revenues to the local community - the revenues have not met expectations at the time.

Europe’s energy ministers meeting in Brussels Friday are under pressure to quickly agree measures to prevent the energy crisis triggering a financial meltdown.

Comments by the Belgian Prime Minister Alexander De Croo on Thursday put a spotlight on the problem, as he warned that Europe faces “de-industrialization and severe risk of fundamental social unrest” because of the energy crisis.

Gas prices, about eight times higher that their average levels for this time of the year, have been volatile this week as traders assess deep supply concerns against government efforts to contain the crisis. They dropped as much as 8.2% on Friday, wiping out a weekly gain ...

https://www.bloomberg.com/news/articles/2022-09-09/energy-ministers-meet-to-thrash-out-crisis-fix-energy-update?srnd=premium-europe&sref=Em01M8Hr

Ibug,

Did you check to see if anything had happened at Horse Hill since 2018?

The source of Ibug's extract in his post of 10:05 is UKOG's website, Portfolio/Horse Hill 2018. It obviously went back some years so, by way of curiosity, I checked.

If everybody does that, it will never get there!

Yes, it all sounds sensible and promising.

UJO's tweet:

Liz Truss "we will end the moratorium on fracking where there is local support"

Great news for the sector as a whole!

PS: it's the direction of travel which excites the market.

"As a result of these steps on shale and nuclear and the acceleration of renewables I am today setting a new ambition for our country. Far from being dependent on the global energy market and the actions of malign actors we will make sure that the UK is a net energy exporter by 2040. My right hon. friend the Business Secretary will set out a plan in the next two months to make sure we achieve that ...

2 months is not a long time, Jacob Rees-Mogg is going to be busy.

Yes, may she rest in peace after a life dedicated to the service of this country and the Commonwealth.

£71.86k, that's more like it!

Late trade of about 59.9m at 0.12p at 17:07:36.

Jump on the UT of 10,389 shares: 2.33p is the closing price.

You've been active today, Ibug - time for one of your sundowners?

the MMs will let PIs read into the data what they want and respond to the orders they receive.

With today's announcements by the PM, the public perception of oil industry players should change for the better: instead of being thought of as producers of "fossil" fuels, they have been identified as key components of the country's energy independence in the economic conflict with Putin.

Ms Truss said she was "setting a new ambition for our country".

"Far from being dependent on the global energy market and the actions of malign actors, we will make sure that the UK is a net energy exporter by 2040," she said. (from a sky article)

Should help the Balcombe appeal.