Member Info for ocelot

https://www.ukogplc.com/page.php?pID=3

Is that where you are based, Ibug, in Turkey?

UKOG has a portfolio of direct and indirect interests in eight UK onshore exploration, appraisal, development and production assets, all situated within the Weald and Purbeck-Wight Basins of southern England. We are by far the largest acreage holder in the south of England, and the fourth largest in the overall UK onshore, with assets covering 791.5 gross km².

The British Geological Survey (BGS) in association with the Department of Energy and Climate Change (DECC) has completed an estimate for the amount of shale oil and shale gas in the Weald Basin in south-east England. The estimate is in the form of a range to reflect geological uncertainty. The range of shale oil in place is estimated to be between 2.20 and 8.57 billion barrels (bbl) or 293 and 1,143 million tonnes, but the central estimate for the resource is 4.4 billion bbl or 591 million tonnes ...

https://www.bgs.ac.uk/news/jurassic-shale-of-the-weald-basin-resource-estimation/

And a post by Lemonjuiceto on the same board led me to this article dated 23/05/14:

https://www.theplanner.co.uk/news/%E2%80%9Cbillions-of-barrels%E2%80%9D-of-shale-oil-in-weald-basin-says-bgs

... A source close to the Truss campaign last night said lifting the ban (on fracking) would be an immediate priority if, as expected, she emerges as Britain’s prime minister next week.

‘It will be one of the first things that gets done – it could be within the first few days,’ the source said, adding that Miss Truss and her likely appointee as business secretary, Jacob Rees-Mogg, were also ‘open’ to industry demands to relax planning restrictions blamed for hampering the development of what could become a multi-billion-pound sector. ‘The industry wants planning reforms and I think they will pushing against an open door,’ the source said.

A friend of Mr Rees-Mogg added: ‘His view is that the energy crisis we are facing is worse than the early 1970s – the scale for individuals and businesses is very worrying ...

https://www.dailymail.co.uk/news/article-11175039/Liz-Truss-lift-ban-fracking-days-drive-boost-UKs-energy-supplies.html

thanks to Jugs0 on the Angus board

... OPEC, the Union of Petroleum Exporting Countries, ...
---------------
Odd mistake to make, given that the "O" of OPEC can't stand for "Union".

What is the source of your extract, Ibug?

... the Secretary of State agrees that there is a
reasonable likelihood of confirming a viable resource for extraction, and that while the
proposal would not, in itself, deliver commercial quantities of gas, nonetheless, there are
positive benefits that must accrue from the exploration/appraisal phase (IR11.127). He
further agrees (IR11.129) that the overall thrust of government policy, as well as the
vision of the SMP, are supportive of the utilisation of mineral resources within acceptable
environmental constraints ...

From paragraph 26.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1080860/DL+IR_-_Land_South_of_Dunsfold_Road_and_East_of_High_Loxley_Road_Dunsfold_Surrey_-_3268579.pdf

"WealdWaters", Stockraiser?

Doesn't sound too promising.

If first gas (30/08) represented the end of the beginning, then today's appointments (02/09) represent the beginning of the next stage.

They are "gearing up", with the stated ambition to become "a major player in the production and storage of hydrocarbons".

The market cap of such a "major player" isn't about £65m, £200m or £500m.

It is for each investor to interpret the implications of today's RNS as they think appropriate.

Management is ambitious and planning for the short, medium and long term future.

The rise into the 2ps is welcome but think the market continues to lag well behind ANGS's prospects.

It was on 20/07 that UKOG stated in an RNS that:

"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. The Company believes that this is the most prudent course of action to both manage uncertainty and to help ensure the best use of the Company's working capital".

This was after most of Drill or Drop's articles listed below by Ibug had been published.

Haven't understood your comment. The SoS granted UKOG's Loxley appeal on 07/06 of this year, not last year or the year before that.

Think "a major player in the production and storage of hydrocarbons" suggests their ambitions go considerably beyond a market cap of £200m but that is unlikely to happen overnight.

Loxley is a potential jewel in the crown. UKOG need to get their share price up otherwise I think they may find themselves exciting interest from outside.

... the transformation of Angus from a small cap into a major player in the production and storage of hydrocarbons, as we work on the expansion of existing production and the evaluation of Saltfleetby for strategic gas storage."
----------------
A major player does not have a market cap of about £60-65m, there is a long way to go.

Some of the increase in the market cap will, however, doubtless be accompanied by an increase in the number of shares issued, as the company pursues a strategy of external growth.

Angus had already attracted investment from family offices associated with the lender.

It can only be a matter of time before some specialist fund managers come on board.

Angus management give the impression of being keen to make up for any lost time.

First gas 30/08, 2 very interesting appointments to the board on 02/09.

This constitutes a major statement of intent (my capitals):

George Lucan, CEO comments “I am delighted to bring on board Krzysztof and Richard into
our team, AS WE ENTER THE NEXT STAGE OF OUR GROWTH STRATEGY. They each bring a pool of
skill and expertise that WILL ENABLE THE TRANSFORMATION OF ANGUS FROM A SMALL CAP INTO A MAJOR PLAYER IN THE PRODUCTION AND STORAGE OF HYDROCARBONS, as we work on the expansion
of existing production and the evaluation of Saltfleetby for strategic gas storage.”

The 6th question down and answer:

Give the lessons learned and valuable experience gained from SFB, would the Board consider farming into or acquiring UKOGs Loxley gas asset? Given SFB cash flows and experience Angus would have to be viewed as very attractive partner for UKOG which could to be reflected in favourable T&Cs of any deal. Asked on 1 September 2022

Loxley looks to be an attractive asset and we will always look at attractive assets at the right price.