Member Info for ocelot

In the sense that it's an employment of their time, yes.

Monecor declares total holding of 5.138% in Greenroc.

Back bench MP, Chair of the Health and Social Care select committee, beaten by Johnson for the leadership of the Conservative party in July 2019, now enjoys the advantage of having always been outside Johnson's cabinet.

Progress Update at Saltfleetby

Angus Energy (AIM: ANGS) is pleased to announce that in accordance with the timings announced on 10 June all welding and hydrotesting of lines requiring inspection under the Pressure Equipment Safety Regulations has been completed and the site has been significantly de-manned with scaffolding removed from the pipe-rack. A handful of lower category lines remain to be hydrotested without inspection this week.

The next and final stage in proving mechanical integrity will be to introduce nitrogen into the plant for a five day leak and pressure test which we expect to commence at the end of this week. Meanwhile the electrical - power and control and instrumentation - installation continues at pace.

The derampers can act as a kind of sounding board.

gwilliams71,

I'm doing my bit, offering employment to the derampers!

Nice round figure, July gas quoted 200.00p, up 30.1%.

Vetta, when it does start going up, think it's got a long way to go :-)

Best wishes.

July is up 24.3%:

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

For the
reasons given at IR11.117-11.127 the Secretary of State agrees that there is a
reasonable likelihood of confirming a viable resource for extraction, and that while the
proposal would not, in itself, deliver commercial quantities of gas, nonetheless, there are
positive benefits that must accrue from the exploration/appraisal phase (IR11.127).

Good news! Well done, Angus and all involved.

gwilliams71,

More seriously, it may be because the figures are bigger than the market is currently prepared to admit, despite the fact that Loxley is presented on UKOG's home page as "the second largest gas accumulation ever discovered and flow tested in the UK onshore" and that there is, therefore, nothing particularly surprising about the figures.

gwilliams71,

You need to put your question to the market! I am not the market.

Don't forget, Loxley is described as follows on UKOG's home page:

... the significant Loxley Portland gas discovery, assessed to be the second largest gas accumulation ever discovered and flow tested in the UK onshore.

So you would expect the figures to be of a certain magnitude, wouldn't you?

Reminder: SS himself states that:

With gas prices currently at around £15/1000 ft³, the project could thus be of significant material
benefit to both the exchequer and the Surrey economy over its expected 20-year life.

And the lower end of the average annual revenue range (£32.25m) is very much in line with the figure of £30m SS provided during his speech to SCC's planning committee of 27/11/20:

https://www.ukogplc.com/ul/5fc1343a6ecea_SS_Loxley_speech_to_Surrey_CC_271120.pdf

"estimated recoverable gas of between 43-70 bcf x £15 per 1,000 cubic feet
the field's expected 20-year life

all come from SS's letter to Jeremy Hunt of 10/06. The rest is multiplication and division.

https://www.ukogplc.com/ul/UKOG%20Jeremy%20Hunt%20MP%20100622.pdf

And, of course, the order of magnitude explains the subject-title of this thread:

market cap at 0.1425p of £26.5m v total estimated revenue of just one project (Loxley) in the range of £645m-£1,050m.

Agreed, it's just a very simple calculation making use of the information provided by SS in his letter to Jeremy Hunt of 10/06/22.

It makes no allowance for time either, but it does provide an order of magnitude.

Recoverable gas x the price of gas.

It's a very simple calculation which provides an order of magnitude but, of course, takes no account of operating costs.

But the order of magnitude alone is quite enough to show that Loxley is a potential company-maker (as was already clear at the time of SS's speech to SCC's planning committee of 27/11/20, more than 18 months ago).