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Exploration,

Are you sure they had the necessary regulatory permission to employ a forked rod at HH and at Loxley?

gwilliams71,

I don't suppose my post has had any effect on the share price at all, but the FT's article might have an impact.

As we know, "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", so any indication of European gas prices remaining elevated for years to come is positive for UKOG's Loxley project.

Article just came out

Traders expect European gas prices to remain elevated for years to come

Prices for key fuel delivered in 2023 and 2024 are sitting near record levels

https://www.ft.com/content/e11ca7cf-dd7a-43a9-a4e7-0dbd12f244d7

Acknowledgements to infinity888 on the Angus board

Hope you make a speedy recovery, Ibug.

Let's hope their cutting edge instruments are covered by patents, Exploration, otherwise any Tom, Dick or Harry may try to copy them.

To help progress Basur towards drilling, members of UKOG's technical team plan to spend next week in the field, scouting a potential new Basur-4 location, tying Basur seismic work into surface geology and investigating whether Prospect B has any surface geological expression that can help define its extent. (update RNS of 20/07)

A reminder of where we are coming from. Extract from the RNS of 25/11/20 in which Alba raised £1.2m:

Share warrants will also be issued to each subscriber in the Placing, with one warrant to be issued for every two shares subscribed for, for a total of 160,000,000 warrants. The warrants will have an exercise price of 0.75 pence per share and an expiration date of 24 months from the date of issue. The warrants will also be subject to an accelerator provision, such that if at any time during the 24 month duration of the warrants the 10-day volume-weighted average price (VWAP) of Alba ordinary shares exceeds 1.5 pence per share, the Company may give warrant holders notice to exercise their warrants within 10 business days following the Company's notice and to pay the exercise price in full within 15 business days following the Company's notice, failing which the warrants will automatically expire.

There remains, therefore, about 4 months in which to get the share price up to, and above, the warrant exercise price of 0.75p.

By the nature of its business, UKOG is one for patient capital. Even HH, the project with the nearest term horizon, has taken years to advance to its current state.

In addition, the stock itself is liquid, enabling traders to get in and out without disturbing the price too much.

Ibug,

Imho, if you are looking to make a profit in a day, are you sure UKOG is the stock for you?

What are you saying, Ibug?

Are you saying that major oil and gas exploration projects should not be undertaken, because they are likely to take up too much time?

TO HELP PROGRESS BASUR TOWARDS DRILLING, members of UKOG's technical team plan to spend next week in the field, scouting a potential new Basur-4 location, tying Basur seismic work into surface geology and investigating whether Prospect B has any surface geological expression that can help define its extent. (my capitals)

Never doubted that the negative voices would move on to the sidetrack once first gas was achieved but, personally, I take that as a sign of recognition by the negative voices that first gas is very close.

... whereby the Company's costs would be either fully or part carried by any farminee.
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I mistakenly wrote of "the" farminee, but there could be more than one farminee.

The Loxley appeal was recovered by the SoS on 06/01 so there has been no shortage of time in which UKOG could have received approaches from interested parties.

Given the spectacular rise in the price of natural gas during the last year, it is reasonable to suppose such approaches have been made.

https://www.angusenergy.co.uk/media/investor-questions/

So your answer to my question is "No", Ibug.

Does anybody have anything useful to say about UKOG's suggestion that a farm-out might mean the company's costs are carried in full by the farminee?

... 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.

Does anybody have anything useful to say about UKOG's suggestion that a farm-out might mean the company's costs are carried in full by the farminee?

Any and all flow beyond the hedge is a real cash generator at the present, and for some considerable, time to come.

First sidetrack planned, more envisaged for next year, efforts will doubtless be made to shift contingent resources into reserves and extend the field's expected lifetime.

And that's just Saltfleetby. But there is also Brockham, now generating a useful supplement of revenue, Lidsey and Balcombe (if the appeal goes their way) plus geothermal plus, at some stage, cash to be employed elsewhere.

Continues to look very cheap to me.

Look forward to the day when one or more of the specialist micro cap funds invest in Angus.

The final step is commissioning the compressor over the weekend and to be completed early next week. Nominations to follow shortly thereafter, once the process has been stabilised to yield a reliable gas quality for export.

Very nearly there, very good news.

If Angs wasn’t crippled by it’s hedge the sp would be flying now ...
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Without the hedge, ANGS wouldN'T be on the runway: the hedge was a condition of the £12m debt facility.