Member Info for ocelot

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

The wording of my previous message wasn't great, so I will try again!

The price of natural gas forms an essential part of UKOG's Loxley project and of the implementation now of its pre-planned farm-out programme.

Front month, near and longer term gas prices constitute the context in which those discussions are taking place.

The price of natural gas forms part of the background for the implementation now of UKOG's pre-planned farmout programme at Loxley.

The front month, August, has risen well clear of 300p so far this morning, at 315.5p:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253322

9.6% rise on the August contract at present, taking the price well clear of 300p at 324.52p:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253322

This all began with my post of 06:39:

... 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.

Accustomed to farm-outs involving a percentage of the project, intrigued by the suggestion costs might be fully carried by any farminee.

Ibug,

Instead of trying to know what you are thinking, I ask you a straightforward question, to which you are free to respond or not.

You have chosen not to respond..

That is, Ibug, you are not prepared to explain what you understand when UKOG suggests the company costs at Loxley might be fully carried by any farminee.

Ibug,

Instead of criticising me, why not explain what you understand when UKOG suggests the company costs at Loxley might be fully carried by any farminee.

Ibug,

Why criticise me, all I've done is cite the RNS?

The extract concerns Loxley, nothing to do with Basur-Resan.

... 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.

Accustomed to farm-outs involving a percentage of the project, intrigued by the suggestion costs might be fully carried by any farminee.

nookie's post of 16:33:

ScotAlba- I apologise for being a git. Good luck to us all :)

Livelier than yesterday. Yesterday's total volume was 11.1m, we've just arrived at 11.3m for today so far.

Put him on filter soon after he arrived, Robbie2017.

There's a very odd character on the rival site (also filtered for ages), didn't want something similar to happen on this site, too.

the last post I have is from yesterday at 18:30.

Given the promising positive outlook derived from the Company's Basur Phase 1 seismic programme, plus the confirmation from the oil seep that the area has an active light oil petroleum system, the Company's focus for the forthcoming 6-9 months will be firmly upon the delivery of Phase 2 seismic and a new Basur appraisal well, now anticipated to be able to add near-term oil production to the Company in H1 2023, ...

Sounds promising to me.

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.

Wish them well.

"The Company will, therefore, need to seek further finance before mid Q4 2022 ..." was the relevant statement in yesterday's RNS.

The median salary for the CEO of an AIM-listed company a couple of years ago was £325k.

Why do you speak of UKOG's board taking "massive" salaries"?

Or is your complaint about AIM-listed companies in general?

Then it's a question of what percentage(s), who and what price.

A farm-out of Loxley always appeared to be the logical and pragmatic thing to do, yesterday's RNS confirmed they seek to implement this now.