Member Info for ocelot

You have ramped this company with little substance only posting articles that highlight upside potential without acknowledging any downside risk, ...
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gwilliams71,

You write of my posts as if they are the only posts to be posted on this board.

If you write of my posts in the context of this board, you will see that I have absolutely no need to acknowledge downside risks because there are so many other posters who do precisely that, including yourself.

If I may amend the above subject title:

When all trolls seek to encourage selling - time to buy (the trolls themselves don't own any stock, so can't sell).

Ben van Beurden, Shell's chief executive, said soaring energy prices were a global problem that could not be solved quickly because of the time it took to bring new projects to fruition.

He warned the industry had under invested “to the tune of a trillion dollars” in recent years but claimed the coronavirus pandemic and policy decisions by governments supportive of green power projects were partly to blame.

Rocketing wholesale prices could see households pay £500 for energy in January alone, consultants at BFY have predicted, after Russia drastically reduced gas flows to Europe ...

Note the nature of the strategic investors associated with Aleph, family offices.

Family offices win no points for losing capital so tend to be very focused on capital preservation.

It means they think of Angus as being relatively low risk and prudently managed, ie of quality.

I will just wait and see.
Been here too long (more than 3 years) to be disheartened by any additional delays.
Despite the delays, the project continues to advance towards its completion.

50m buy at 0.94p at 14:58:40 (trade 154).

The Crown Estate has already shown itself to be quite helpful:

Permitting
The Crown Estate agreed to extend the duration of our exclusive exploration licence over the Clogau St David’s Gold Mine. We had originally been awarded a six-year exclusive exploration licence,
termed an Option Agreement, with effect from 10 February 2015. The licence has now been
extended for a further four years (until 9 February 2025), being the maximum extension possible
under the terms of the original licence. As and when we are ready to proceed to commercial
production, we will apply to convert the exploration licence into a formal, long-term lease.

(extract from the 19/20 annual report)

under Investors/Financial Statements:

https://www.ukogplc.com/ul/Unaudited%20results%20for%20the%20six-month%20period%20ended%2031%20March%202022.pdf

https://www.barchart.com/stocks/quotes/UKOG.LN/opinion

With these relatively small placings, it isn't immediately clear whether they have been undertaken at the initiative of the company or of one or more investor(s) who has/have approached the company.

It is only once the time for a TR-1 has elapsed that the possibility of a significant investor can either be confirmed or discarded.

StephenZP,

Basur is the priority, before HH. Personally, I assume it is a matter of risk/reward, that SS judges the potential reward to be greater in Basur than in HH.

Have no particular insights into today's placing, which I had not foreseen. For myself, the deal makes a lot of sense for the placees: 8.09% of the company for £1.25m and a subscription price of 0.0875p.

A side-effect of the placing is to boost UKOG's cash position while it is in discussions about the farm-out of Loxley, which helps its bargaining position.

Includes a reminder of the evolution of gas prices during the last year and a higher forecast for the energy cap in this country next January than I have seen before:

" ... European wholesale gas prices closed at €204.85 (£172.08) per megawatt hour - the third highest price on record. The all-time high was achieved on 8 March when prices closed at €210.50 (£176.76) per megawatt hour.

However, this time last year the wholesale gas price in Europe was at just above €37 (£31.08) per megawatt hour.

UK gas prices rose 7% on Wednesday so the price is now more than six times higher than a year ago. However, it is still well below the peak seen in the aftermath of Russia's invasion of Ukraine.

UK energy bills increased by an unprecedented £700 in April, and are expected to rise again with one management consultancy warning a typical energy bill could hit £3,850 a year by January, much higher than forecasts earlier this month.

BFY said its forecast reflected the increase in wholesale prices over the past few weeks with the ongoing tensions with Russia sparking concerns over winter supplies ...

https://www.bbc.co.uk/news/business-62318376

The placing was done very discreetly.

Prior to the RNS, only about 9m shares had been traded during the first 6 hours of the session, so there was no hint of a placing being undertaken.

It's for a relatively modest amount, did it go into only a few hands?

In your post of 16:15, WG818, you asked me to

"... point out anything that’s not true!?!?".

That is what I did, at your request.

WG818, you wrote:

13. Mercuria and Aleph have enough of the endless delay and incompetence and pull the plug and use the debentures they hold over the Company. Or decide that they like the look of it and want it all for themselves and do the same thing!

That is personal speculation on your part, which is something quite distinct from the truth.

WG818,

The heading doesn't mean anything written under it is "true"!

You are confusing personal speculation with truth, WG818.

What is "true" in your point 13?

That sounds really pretty desperate, WG818 (imho).

The Placing Price represents a discount of approximately 27 per cent to the Closing Price of 0.12 pence per Ordinary Share on 26 July 2022, being the latest practicable business day prior to the publication of this Announcement.
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Erroneous.

Yesterday's closing price was 0.11p not 0.12p. The discount represents approx 20% not 27%.