Member Info for ocelot

Let's not ignore potential either.

Mentioned that his presentation on Greenroc in Toronto generated interest from some industry players in Amitsoq.

Again, don't understand your comment, the price of natural gas is not a source of worry for shareholders in UKOG (imho).

and higher still. Front month: 315p, + 22.2%:

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

Sorry, that was meant for Alba. No need to post it there now.

All resolutions passed, with varying percentages.

Don't understand your comment.
The gas suppliers who went bust made the mistake of assuming that natural gas prices were relatively stable. Their businesses were too fragile to withstand the enormous rise in prices which took place in the 2nd half of last year and continued even further with the war in Ukraine.

Ibug,

At least 20 gas suppliers have gone bust because they lacked the finance to buy the gas they had already committed to sell to customers at a much lower price.

and higher still: 301p on the front month, + 16.8%:

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

He never puts a £ figure on what he expects to get per annum. Daughter told me what she is paying for gas and electricity a month. I x the gas total for the year by 110,000 and one does wonder why SS is not ramping it to high heaven or is he just being cautious if he gets caught out yet again? Perhaps you should do the same with you gas bills and wonder.
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As the second largest gas accumulation drilled and tested in the UK onshore, Loxley’s potential peak
gas supply would have an energy equivalent to power around 200,000 homes per year and provide
up to £30 million/year in gas sales to hydrogen manufacture and carbon capture plants, all of which
are likely to be situated in key industrial hubs, well outside of the Loxley rural area. Loxley could thus
be a materially significant future contributor to the local and Surrey-wide revenue base and
economy. (from SS's speech to Surrey CC's planning committee of 27/11/20).

Price cap currently £1,971 pa, expected to rise to £2,800 in October.
x 110,000 households = ?

PS: for myself, the market is in denial of the potential implications of Loxley.

You just keep living the dream ...
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Ibug,

I just make use of the figures for the Loxley gas field SS made available to us all in his letter to Jeremy Hunt of 10/06/22 and update the price of natural gas SS cited in his letter for changes in that price.

Yesterday's closing ICE price for the front month of 256p per therm is equivalent to £26.50 per 1,000 cubic feet (multiply by 10.37).
On this basis, Loxley's gross value falls into the range of £1.14bn to £1.86bn.
(note: the commerciality of Loxley gas remains to be confirmed).
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The above is from my post of 07:05.

Natural gas has risen further so far this morning (282.50p per them), so the top end of the range for Loxley's gross value now exceeds £2bn.

"Triple-whammy for European gas supplies sends prices soaring" (article from yesterday):

https://edition.cnn.com/2022/06/15/energy/european-gas-prices/index.html

The price cap is due to rise sharply in October for household customers: customers who are not on a fixed tariff will, therefore, see their bills go up further at that time.

On the basis of the figures provided by SS in his letter to Jeremy Hunt of 10/06, the gross value of Loxley fell into the range of (43-70 bn cubic feet x £15 per 1,000 cubic feet =) £645m to £1.05bn.

The price of natural gas has risen sharply since SS's letter.

Yesterday's closing ICE price for the front month of 256p per therm is equivalent to £26.50 per 1,000 cubic feet (multiply by 10.37).

On this basis, Loxley's gross value falls into the range of £1.14bn to £1.86bn.

(note: the commerciality of Loxley gas remains to be confirmed).

Ibug,

Think you are following the Henry Hub front month gas price (in the US, therefore, and which would explain the $ price).

ICE prices are in pence per therm.

Loxley is in the UK, not in the US.

Futures can be bought and sold. They tell you the price negotiated today for future maturities.

Ibug,

If you go onto the ICE page for which I provided the link at 15:58 and click on "Product Spec" towards the top, you will find the description of the contract.

Ibug,

If you are interested, why not google ICE natural gas contracts?