Member Info for ocelot

A troll is a troll, think they will simply focus their negative message on the sidetrack once first gas is achieved.

If bulls didn't exist, the derampers would have to invent them, because so much of what the derampers post is written in opposition to content posted by the bulls.

A tweet or an RNS can come at any time. We know from the past that GL releases RNSs immediately he has news to communicate, even if it is after-hours.

The Company has been advised by Zetland Ltd, its planning consultants, that the scale and nature of the Energy-Hub development is expected to qualify as a Nationally Significant Infrastructure Project ("NSIP"). (RNS of 30/05)

revised CPR of 26/10/21, page 49:

https://www.angusenergy.co.uk/wp-content/uploads/2021/10/Angus-Energy-Saltfleetby-Reserves-Valuation-Report.pdf

OUR STRATEGY ...
Oil & Gas: ...
3. Balance Risk and Reward ...

- Judicious use of farmouts to provide operational funding ... (page 4 of the 20/21 annual report)

Reminder that:

1/ the company had not originally planned for the Open Offer, which brought in nearly an additional £500k;

2/ the decision not to appeal Arreton has released the budgeted £500k of appeal costs for other uses:
"The envisaged £0.5 million planning appeal costs will therefore remain available and could be used for developing new oil & gas and geothermal/energy storage projects ...". (p8 of the 20/21 annual report).

Energy company Equinor has submitted a co-funded bid worth over £16 million into Government for a second major low carbon hydrogen production facility in the Humber, which could help to further reduce carbon emissions across the region ...

https://www.equinor.com/news/uk/20220622-hydrogen-production

https://www.equinor.com/news/uk/20220622-hydrogen-production

As evidence of the forward-thinking information provided in the 20/21 annual report, this was the 2nd paragraph of the Chairman's statement:

"That is why I am excited by UKOG’s pursuit of opportunities in renewable energy, notably in respect of
geothermal energy and gas storage solutions for hydrogen development. As a country the UK needs to be more
self-reliant and less dependent on international gas pipelines. Over decades we have allowed our gas storage
capacity to fall alarmingly. UKOG, a company with multi-faceted ambitions and abilities, is looking at domestic
projects which could reverse that decline. Additionally, the management team is also considering several other
potentially exciting opportunities both domestic and international and is proactively seeking to diversify the
Company’s portfolio in recognition of the rapidly evolving industry landscape".

The Portland hydrogen-ready energy storage project was RNS'd on 30/05.

Correction of my post of 08:10.

ocelot
The Annual accounts is all about the financial statement which is about the past. Anything else is just flimflam and blowing smoke ...
----------------
Always bearing in mind that they were signed off:
1/ 6 months after the end of the year ending 30/09/21;
2/ after the recovery of the Loxley appeal by the SoS on 06/01/22;
and that they contained much of interest which is forward-looking.

ocelot
The Annual accounts is all about the financial statement which is about the past. Anything else is just flimflam and blowing smoke ...
----------------
Always bearing in mind that it was signed off 6 months after:
1/ the end of the year ending 30/09/21;
2/ the recovery of the Loxley appeal by the SoS on 06/01/22;
and that it contained much of interest which is forward-looking.

A reminder that the 20/21 annual report was upbeat in tone and, to a noticeable degree, turned towards the future:

https://www.ukogplc.com/ul/UKOG-ARA-FS%202021%20FINAL.pdf

The recovery of the Loxley appeal by the SoS on 06/01 let everybody know, including industry players, that the appeal might go UKOG's way.

In its 20/21 annual report signed off on 24/03, management specified amongst the elements of its strategy: "judicious use of farmouts to provide operational funding".

Wasn't this an invitation to industry players to get in touch should they wish to participate in any of UKOG's projects such as, for example, Loxley?

"We are open to discussion", it seems to be saying.

... just believe UKOG is in a very different place now - Dark clouds have dissipated and blue skies appearing ;-)
--------------------------
Agree, Stockraiser.

Despite successive disappointing setbacks, they've persisted, kept financial debt to a bare minimum and widened the range of their projects. Now that the regulatory hurdles have been cleared (at HH and Loxley), the future is looking brighter:-)

The list of red bullet points at the top of UKOG's home page has been shortened: the oldest is now that of 25/03 re the publication of the 20/21 annual report:

https://www.ukogplc.com/

06/01: recovery of the Loxley appeal by the SoS;
24/03: sign-off of the 20/21 annual report in which management specifies amongst the elements of its strategy: "judicious use of farmouts to provide operational funding";
07/06: announcement that UKOG's appeal has been successful.
Loxley is a hefty and potentially very profitable project which will require operational funding. Let us see what the future holds.

PodPoint,

Signing off for now.

Farmouts are an option that is available to them and that they have said they will look to use judiciously. As ever, we will see what the future holds!

From the 30/09/21 annual report, p4:

OUR STRATEGY
UKOG aims to build a diverse, sustainable and self-funding international energy business which has the following
strategic objectives:
Oil & Gas:
...
3. Balance Risk and Reward
- Maximising value by ground floor or early entry where possible.
- JUDICIOUS USE OF FARMOUTS TO PROVIDE OPERATIONAL FUNDING. (my capitals)
- Maximising return on investment by actively considering divestment after an asset has been derisked, where appropriate.

https://www.ukogplc.com/ul/UKOG-ARA-FS%202021%20FINAL.pdf

SS's latest purchase of stock
AGM on 28/06 at 11am
Interim results by 30/06 at the latest, but could be released earlier
Update on Basur-Resan any time (the last RNS was on 20/04)
Could there be news of a farm-in at Loxley now that the appeal has gone UKOG's way? It's a possibility to be borne in mind.

Sorry, my wording was a bit ambiguous: photos posted by 3Put (not me) on their thread Angus Energy - 2022.