Member Info for ocelot

gwilliams,

Do you know what the share price will be when they launch the placing?

Too many variables, don't wish to participate in a parlour game.

Don'r know.

Yes.

The "early days" in my post of 20:31 was quite clearly in reference to the Portland gas storage project, gwilliams71.

The project seems to have received a more favourable reception from the Secretary of State than from yourself, Exploration.

These are early days, as ever, time (quite a lot of it) will tell.

gwilliams,

To come back to your post of 16:22 somewhat belatedly.

The Portland energy storage project is certainly ambitious and enterprising of them.

It may have been in his video that SS made clear outgoings would be limited during about the first 2 years.

I wonder if some of the contacts made may prove of benefit to UKOG elsewhere in their business.

Ruth Hayhurst has changed the title and text of her article to insert "farm out":

https://drillordrop.com/2022/07/20/ukog-to-subcontract-surrey-gas-exploration/

Don't forget, too, Ibug that you have claimed always to make money on your trades in UKOG.

Given, therefore, that you are currently a holder of UKOG, you are presumably anticipating that the share price will rise from here.

So what?

According to you:

"He (SS) deserves all he gets imo for not being honest with PI's. Caught out too many times for his own good".

However, nothing of what I have just said is sufficiently significant to hold me back from investing in UKOG.

Don't forget, Ibug, you said earlier today, in your post of 07:51, you are a holder of UKOG shares:

... I currently hold and voted at the last AGM ...

A 2nd comment on Drill or Drop's article in my 12:54 post below correctly points out that UKOG are not subcontracting Loxley. It begins:

Ruth
UKOG are not subcontracting the exploration, they are farming it out ...

UKOG is loss-making. I think we (almost) all understand that when they raise funds it isn't simply for investment purposes but also for working capital purposes.

And yet, as far as I am aware, almost everybody has been anticipating a new placing at some stage.

The negative posters will dismiss the following as "jam tomorrow", those of a more positive disposition will greet it with pleasure:

... 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, ...

I have a number of the most negative posters on filter, but I wouldn't be surprised if some of them had been predicting the next placing from about the beginning of this year.

"The Company will, therefore, need to seek further finance before mid Q4 2022 to fund this planned programme and for general working capital purposes".

It really doesn't sound as if there is an immediate need for additional cash.

SillyButtons,

Think you could well be right: by maintaining at least some gas flow to Europe, Russia retains leverage and the ability to create further uncertainty. And, of course, benefits financially from high prices.

https://drillordrop.com/2022/07/20/ukog-to-subcontract-surrey-gas-exploration/

re Loxley, " ... 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".
----------------
I've already spoken of the choice of words in the above extract, "pre-planned farmout programme" (instead of, for example, "planned" farmout programme) and "would" (instead of "could").

The other word which stands out, of course, is "now".

Russian President Vladimir Putin signaled that Europe will start getting gas again through a key pipeline, but warned that unless a spat over sanctioned parts is resolved, flows will be tightly curbed ...

Gas prices edged higher as traders struggled to make sense of Putin’s comments. On the one hand, it’s positive as many in the market expected flows not to come back at all. But the conditionality just adds to the uncertainty.

“It’s absolutely clear that Moscow is cutting supplies for geopolitical reasons -- it wants to create a European gas crisis this winter to bring Europe to its knees to the point where it cuts support to Ukraine,” said Tim Ash, a senior strategist at Bluebay Asset Management ...

https://www.bloomberg.com/news/articles/2022-07-20/putin-signals-gas-pipeline-will-restart-but-with-conditions?srnd=premium-europe&sref=Em01M8Hr

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

graking,

So you think management will no longer need access to the equity market for funding purposes?