Member Info for ocelot

George Lucan of Angus has been answering Investor Questions this morning on their website:

Given the crazy gas prices forecasted for several years ahead, I just wondered if the company has been approached by any of the multinationals interested in Saltfleetby, or indeed if you expect them to be interested? Thanks. Asked on 1 September 2022

There is a dearth of new assets coming online so we would not be surprised to have further approaches this year.
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Conclusion for UKOG: Loxley is a potentially very valuable asset which is wholly absent from UKOG's current share price.

Congratulations to George Lucan and the team for achieving first gas at Saltfleetby. Does the company now plan to increase the PR around the field? For instance, I havent seen an interview with George Lucan for a good while now? Thank you. Asked on 1 September 2022

Yes. This is a first of a kind – a combined onshore gas processing and extraction site – in the last 30 or 40 years and comes at a time of national need. We would certainly like to get our story across and at a national press level.

Hopefully more good PR to follow.

Completion of Acquisition

Further to its announcement on 23 August 2022, Alba Mineral Resources plc (AIM: ALBA) is pleased to announce that it has now completed the acquisition of a further 10 per cent interest in Gold Mines of Wales Limited ("GMOW") on the terms set out in that announcement. Accordingly, Alba now holds a 100 per cent interest in the Clogau Gold Project situated within the Dolgellau Gold Belt in North Wales, United Kingdom (the "Project").

If lse allowed for a "Very Strong Buy", that would be my opinion.

"... Angus looks fantastic on the grounds of being a classic domestic gas producer and thus enormously valuable".
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"looks fantastic", "enormously valuable", it's rare that a market commentator/analyst employs words/phrases such as these.

One thing we did learn is that the aeromagnetic survey has been put back to next Spring:

In other developments outside of the main mine area, our aeromagnetic survey contractor, UAVE Limited, has been engaged in the process for obtaining permission to carry out an unmanned aerial vehicle ("UAV")-borne geophysical survey to map the magnetic properties of the subsurface below the key targets which we identified in our extensive 2019 geochemical survey programme .

Being able to pinpoint the bedrock sources of these geochemical anomalies will have significant implications for both regional exploration and the identification of further near-mine resource opportunities. However, the UK Civil Aviation Authority having notified us that the next available slot to carry out the survey would be in November 2022, when the weather window for completing the flights is likely to be limited, it has been decided to defer the survey till next spring.

Lots of news to come:
combined flow rate for the 2 wells;
possible exercise of warrants;
possible TR-1;
news of plans for the sidetrack.

In addition, as Saltfleetby advances, so management time will be progressively freed up to look more closely at some of ANGS's other assets/projects, including Lidsey and geothermal.

wizard,

No idea what Truss will do once she becomes PM (assuming she does become PM), but what is very clear is that something needs to be done and that there are MPs such as Sir John Redwood who are keen to see effective action taken.

ells_valexpert,

There is always the filter button if you don't rate the contributions of a particular poster.

Been waiting to see the above title of an RNS for a while.

Well done, GL and the team at Angus and all those involved in supplying the equipment and in installing and testing it on site.

For myself, this is the end of the beginning, now to begin the subsequent development of Angus.

... Ms Truss has suggested she wants to ramp up domestic energy production as fast as possible as a response (to the energy crisis).

Insiders claim she will invite applications for up to 130 (North Sea) licences if she wins the Tory leadership contest.

Ms Truss’ Government is also expected to encourage oil and gas companies to invest in their existing sites to further boost production.

(from an Express article of yesterday)

Concerns another stock but ANGS has just announced achieving first gas at Saltfleetby.

This detailed multi-element analysis of the core samples from all our drilling at Clogau has provided further validation of the key targets we have identified from that work. This includes our two priority targets: the Lower Llechfraith, below the Llechfraith Adit, where drilling has proven vein continuity up to 122 m below existing workings; and the Main Lode System Extension, where drilling has defined a previously unknown Lode (termed the New Branch Lode) whilst also intercepting the 7-10 Lode and Grandfathers Payshoot at up to 60 m below existing workings.

The fact that we have identified the same multi-element signature in these areas as was found in the bonanza-grade gold stage at Clogau gives us a great deal of confidence in the prospects for these new zones to host high-grade gold deposits.

4. OUTLOOK

Alba remains in a strong position to generate real and sustained growth across its portfolio of assets and investments and also continues to assess opportunities to expand its portfolio value by the acquisition of additional complementary assets.

Half-year report.

After yesterday's sharp decline, the price of natural gas is currently recovering.

The front month has shifted to October which is now 571.74p, up 9%:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5351153

With or without an update from ANGS today, it looks as if the market is now convinced prospects are exciting and the stock is grossly undervalued.

The front month contract has shifted to October. October is up 4.5% for the present.

pre-market offer at 2.70p.

from Bloomberg's headline article this morning:

Europe faces the risk of blackouts, rationing and a severe recession if Russia further slashes gas deliveries, and the next reality check is at hand.

A three-day halt of the Nord Stream pipeline -- a key source of natural gas for the European Union -- starts on Wednesday, and concerns are widespread that Moscow will find another excuse to clamp down on supplies, putting the region at the mercy of the weather.

Hours ahead of the outage, Gazprom PJSC set an unsettling tone by notifying French utility Engie SA that it would halt deliveries from Thursday because of a disagreement over payments. The move widens cutbacks to the continent as Moscow retaliates for sanctions related to its invasion of Ukraine.

The worst-case scenario would entail a complete cutoff of Russian gas to the region and an early cold snap. With few alternative supplies available, a surge in heating demand would propel prices to new heights, which could foment social unrest and test Europe’s resolve to support Ukraine ...

https://www.bloomberg.com/news/articles/2022-08-31/europe-braces-for-rationing-risks-in-russian-gas-showdown?srnd=premium-europe&sref=Em01M8Hr