Member Info for ocelot

Active this morning, volume of 20.8m on AIM so far.

50 bopd, Angus's share = 40 bopd.

From Alliance News:

UK Oil & Gas PLC - London-based exploration and production company focused on UK and Turkey - Discovers live, light 41.7 degree API oil seep in an unused seismic drill hole on the Resan licence in Turkey. UK Oil & Gas holds a 50% interest in the Resan licence with operator Aladdin Middle East. This provides evidence of an active light oil petroleum system in the central area of the licence, UK Oil & Gas explains, and has positive implication for future exploration of the licence. Adds two drill holes completed several days later also recovered light oil. Oil samples have now gone for analysis.

However, elsewhere on the Resan licence, plans for a vertical Resan-6 well have been put on hold and the partnership will focus on the Basur area, where oil has flowed to the surface at reported good rates.

Angus also published its half-year report this morning. They are confident of winning their appeal re the application for an ewt of the horizontal into the Kimmeridge at Balcombe, as follows:

... In summary the principle of the development has been previously accepted, the site selection represents the best environmental option and is safeguarded, energy Policy states that the domestic oil and gas industry has a critical role in maintaining the country's energy security and is a major contributor to our economy and minerals are given great weight with the extraction of hydrocarbons seen as central to the UK energy policy in the immediate and long-term future. In light of the above and the current energy crisis we find ourselves in, the Angus management team are confident that the appeal will be overturned.

100 showing above but only about 35 or so left. The RNS thread has gone.

SS wrote of the Portland gas storage project:

"Since the announcement the Company has held productive talks with a number of key infrastructure stakeholders and potential strategic partners".

One wonders what discussions have taken place about Loxley, given that the recovery of the appeal was announced on 06/01/22, nearly 6 months ago.

Think the green boxes are a plus, means those behind the green boxes are concerned (imho).

Yes, the front month has shifted to August: 255p:

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

Stephen Sanderson, UKOG's Chief Executive commented:

"The discovery of the light oil seep is positive and encouraging as it confirms the prospectivity of the central area of the licence to the north of the Basur oil discovery. The new seismic acquisition has also proved its worth in helping to explain the B-3 drilling result and to demonstrate that the B-1 discovery could extend further west and significantly further updip than previously recognised. Careful consideration will now be given to further seismic acquisition combined with plans to drill both B-3S and a new updip B-4 well. "

Knee-jerk reaction to the loss related to the hedge, but that was entirely predictable and should have come as a surprise to nobody.

A re-rated share price would enable management to undertake accretive acquisitions (given that such opportunities are likely to arise).

Wonder if, either after first gas or after the sidetrack, management might not undertake a roadshow, to present Angus to the investment community.

This year's drilling campaign at Amitsoq is a significant one, GF spoke of drilling this month for about 3 months.

Continue to await news of their plans for Limerick this season, should be quite soon now.

July: 177p
August: 248.45p

Is it tomorrow the front month shifts to August?

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253321

Wonder if we could see some small cap investment managers entering the capital once first gas is achieved - as we know, some family offices have already taken position.

As Saltfleetby delivers on the last days of commissioning, Angus management must be delighted that not only is the first gas that is imminent but that it will comfortably exceed the hedged amount, previously a worry for some observers. This means that during the hedge period the company will easily start to accumulate revenues and remember it now has 100% of Saltfleetby which is accretive to shareholders.

6th biggest volume on the market - doesn't feel like it, another rather quiet day on the market in general.

reminder that last year's interim results were released on 30/06 at 11:53am so they may not necessarily be published in a 7am RNS.

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

Ninetails,

I have no intention of repeating our exchanges of yesterday evening, but I will make this one point:

has it occurred to you that you are, effectively, reporting lse, because what you describe as my "financial advice" is, in fact, my choice of of the market opinions lse offers to its posters?

Yes, those figures are sufficient for the purpose but are far from constituting a convincing endorsement. It's for management to ensure they are closer to constituting a convincing endorsement next year.

The figures also show, once again, just how unrepresentative of shareholders is this board: there was no hint of such figures in the posts on this board.

Thank you, Noobz.

Yes, that looks right. Start date: 20/06/22.

Wonder why it wasn't RNS'd, an oversight, maybe.