Member Info for ocelot

John Cranam posted a new photo from HH 46 minutes ago.

As the second largest gas accumulation drilled and tested in the UK onshore, Loxley’s potential peak
gas supply would have an energy equivalent to power around 200,000 homes per year and provide
up to £30 million/year in gas sales to hydrogen manufacture and carbon capture plants, all of which
are likely to be situated in key industrial hubs, well outside of the Loxley rural area ... (extract from SS's speech to the re-run of the planning committee on 27/11/20)

Natural gas price on the day before SS's speech, 26/11/20: 39.62p.

It can be seen that, if and when natural gas prices come back from their current levels (and there is nothing in futures prices to suggest that for the moment), Loxley will remain a potentially very valuable asset, an asset whose potential is totally absent from UKOG's share price at the present.

"Not every share placing offers a discount. Pure desperation imo when they do ...".

You are perfectly entitled to think and say what you like, Ibug.

Ibug,

They did nothing to get the Open Offer away and, imho, were pleasantly surprised by the response.

Re your comment: "Doesn't say a lot if you have to "bribe" someone to take your shares".

What it says is that this is the way funds are raised through placings.

That is what the shares in the company are worth, the RNS has told us so .
---------------
Nope, that is the price at which the relatively small placing (of £1.25m) was priced. If subscribers thought that is what the company is worth, they wouldn't subscribe.

The RNS was wrong. The discount to the previous day's closing price wasn't approx 27% but approx 20% because the previous day's closing price wasn't 0.12p but 0.11p.

The discount is an inducement to placees to subscribe.

To each his own interpretation, that's what these boards are for.

Tygra,

It is exactly the same trade, with exactly the same number of shares, at exactly the same price and time.

It was cancelled. Click on the "ANGS Share Trades" button above.

Yes. Click on the "ALBA Share Trades" button above.

Looks as if it may have been cancelled - will wait for lse's trades to catch up.

at 15:55:05.

Thank you for sharing, scotalba.

Yes, management and shareholders are all in the same boat, currently in port awaiting permission to depart.

Tidying up papers, came across a note I made on 04/08/21, exactly 1 year ago today, of a GF video at 03:12:

re dewatering: "hope to have an answer very soon".

It's been a l o n g wait, let's hope for a positive response from NRW soon(ish).

On a different subject: gold has been in the doldrums recently, with the strength of the dollar. A bit better today, + $17.54 at $1,782.83 (spot gold, that is).

Sorry, the penny has clicked, I put gwilliams71 on filter this morning on the UKOG board.

Bridgedogg1,

Thank you for your comment in your post of 09:43 but I don't even know who Gw71 is!
I have no memory of any dealings with him/her on the UKOG board and have just checked my filter list and he/she is not there either.
How odd!

From Citywire's round-up of the morning papers:

Top stories
The Times: Crippling increases in energy bills of as much as 500% could threaten survival of British businesses this winter, leading analysts have warned.

Suspect stockopedia's analyst consensus target price hasn't been updated in years!

Front month, September: 381p + 5.4%.

If we look further out:

Winter 22: 470p
Winter 23: 350.5p
Winter 24: 221p

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253323

For those who have not been following ANGS for years:

Angus produced this sum of the parts calculation back on 18/06/21.

They didn't attach a value to all of their assets (Brockham and Balcombe were absent) but the important thing to note is that the £15m attributed to Lidsey was after a prudential discount of 80% and the £8m attributed to geothermal was after a prudential discount of 90%.

So, even then, before prudential discounts, (and before the rise in the price of natural gas and the near-doubling of the interest in Saltfleetby) the gross valuation was of the order of £200m.

https://www.angusenergy.co.uk/wp-content/uploads/2021/06/ANGUS-ENERGY-PROACTIVE.pdf

how are u going to meet your hedge requirements if u r not exporting gas by end of july Asked on 1 August 2022

The hedged volumes were lower in the first quarter but as advised we have a rolled a portion to give us leeway in the even that commissioning is more protracted. We have been fortunate enough to be able to roll hedged volumes into forward months with much higher prices without incurring upfront cost. This is not normally possible to do as generally speaking forward months are lower than front end months. So large is the difference at the present that this has been simple to trade.