Member Info for ocelot

GL is himself being extremely conservative: the P50 equivalent was £38.5m and both P90's £25.4m and P50's £38.5m were calculated employing an annual discount rate of 10%.

The 49% form part of the gross figures of the revised CPR cash forecasts. It is only after the gross, 100% figures have been calculated that AEWB's 51% is calculated. For example, P50 calculations are on pp54-55:

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

Don't think that is right, Sageman.

If you look at the cash flow forecasts contained in the revised CPR, the section on the left is devoted to gross figures, the section of the right to AEWB's figures, so the hedge is at the level of Saltfleetby as a whole.

Better volume: 9.5m and it's only 09:15.

Barchart maintains its 88% BUY opinion:

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

Before that, among other roles, he was Exploration Director, and latterly CEO, of Avannaa Resources Ltd, a Greenland-focused mineral exploration company which he co-founded in 2007 and which executed over 25 exploration programmes, discovering the Karrat REE deposit and the Disko Bay diamond province in West Greenland and securing two joint venture agreements with major mining companies Anglo American and Boliden ...

Note that in the revised presentation of the company on its home page, the 1st 2 paragraphs are of a general, introductory nature so that the Portland gas storage project is the first project specifically mentioned, ahead of UKOG's oil and gas projects.

https://www.ukogplc.com/

Stefan Bernstein, GreenRoc's new CEO, commented:

"With a highly strategic portfolio of world-class assets in what I know to be one of the most resource-rich and mining-friendly countries in the world, GreenRoc's value is clear. I am excited to join the team as we focus on propelling our project portfolio towards development and further unlocking the inherent value of our key assets, Amitsoq and TBS.

"At Amitsoq, activity will centre on the upcoming Phase 2 drilling campaign at the Amitsoq Island deposit which will build on the maiden resource of 8.28 million tonnes (Mt) at 19.75% Cg. We have great confidence in the potential for achieving a significant upgrade in that resource given our recently expanded Exploration Target of 5-15 Mt at a grade range of 18-22% Cg. Meanwhile, the Environmental and Social Impact Assessment ('ESIA') work programmes have commenced at TBS, the fulfilment of which is a fundamental part of the mining licence application process.

"I join the Company at a very exciting point in its development and am keen to get to work on making GreenRoc one of the next producers of critical minerals."

wizard125,

I'm upping my opinion to strong buy (not for the first time!).

UKOG will need to finance their big gas storage project in about 3 1/2-4 years from now.

The implication is that they believe they will be in a much stronger financial position in about 3 1/2-4 years.

It includes this reference to Loxley:

The Company ... holds majority interests in four further UK onshore oil and gas discoveries, including the significant Loxley Portland gas discovery, assessed to be the second largest gas accumulation ever discovered and flow tested in the UK onshore.

Indeed, the text of the home page has been more generally updated, since I last looked at it.

They are on the ball. The following extract has become the 3rd paragraph of their presentation on the home page of UKOG's website:

In May 2022, the Company’s wholly-owned subsidiary, UK Energy Storage Ltd ("UKEn"), signed an Agreement to Lease with Portland Port Limited covering two sites at the former Royal Navy port in Dorset, with the intent to develop, subject to new planning consent and securing necessary development finance, a planned integrated Energy-Hub, centred around hydrogen-ready gas storage and a future green hydrogen generation capability.

The home page has also been updated for SS's interview with Core TV.

https://www.ukogplc.com/

Re-posting again for ease of access for those who missed it this morning:

https://www.youtube.com/watch?v=qLFkt9iBijY

On a rival site, UKOG is shown as the market's:
4th biggest gainer;
3rd biggest volume;
3rd share forum.

Active last 30 minutes - about 90m+ traded.

... and there will be a much stronger share price with it.!!!!!!!

We await news as to how they intend to proceed with the next drill, that does not constitute, for myself, a red flag.

So let's see what happens next in Basur-Resan.

gwilliams71,

The most "glaring" issue, to my mind, is finance, but this is not an immediate issue (2 years to submit application, 12-15 months for the decision to be made).

Think SS should be congratulated for his forward thinking.

The highest key moving average is the 20-day at 0.126p, so, at 0.1325p, it is above them all:

https://www.barchart.com/stocks/quotes/UKOG.LN/technical-analysis