Member Info for ocelot

Hear, hear!
Posters ferreting amongst posts of years long gone by do so in order to discredit other posters, not in order to inform discussion of UKOG's current share price and future prospects.

Earlier this year, Angus had 5/6 parties showing interest in a part or whole of their Saltfleetby gas project (or, indeed, for the whole of the company).

2 of those parties remain actively interested in Saltfleetby at the present time.

If UKOG wins its appeal, Loxley will be nowhere near the same stage of development as Saltfleetby, but it would be an asset likely to generate interest from other parties.

Dare one use the word "transformative"?
Could be, both for SS (sticking to his guns through thick and thin) and for UKOG, providing it with a potentially very valuable asset for long-term development.

“In just six months the UK has gone from touting itself as a climate leader to championing fossil fuels, the very thing that is driving the climate emergency,” said Tessa Khan, director of Uplift.

“It beggars belief. Expanding North Sea oil and gas means the UK – which still holds the Cop presidency – is now a dangerous climate wrecker.”

Government policy is a function of what the pollsters are reporting. If they report people are more concerned by the energy and cost-of-living crisis than by climate change, government policy changes

No mention of an onshore licensing round, agreed, but onshore is mentioned here:

Meanwhile, a number of outstanding decisions on major new projects onshore and offshore are expected over the coming months. The west Cumbria coalmine and Jackdaw gas field applications are widely viewed as crucial tests signalling Whitehall’s direction of travel on new fossil fuel developments in view of its Cop26 pledges, with campaigners warning that a rush of new applications and licence approvals could be triggered if either goes ahead.

Of course, but why, then, reproach the onshore industry of being of less consequence than the offshore industry?

Ninetails,

Your interest is in the offshore industry, why do you follow UKOG, an onshore operator?

Ninetails,

We are in agreement concerning the offshore industry.

But ... this is the UKOG bulletin board and UKOG is an onshore operator so it is perfectly appropriate to speak of the onshore industry on this board.

Indeed, a decision in UKOG's favour may well generate quite a lot of attention in the media as well as the industry.

The Loxley appeal decision due on or before 07/06 is of significance both to UKOG and to the onshore sector as a whole.

Should the SoS find in favour of UKOG it will provide evidence that the government is both talking the talk AND walking the walk re energy independence.

THG = £1.8bn market cap.

It requires relatively few shareholders of THG to agree with you and UKOG's share price will move up very strongly.

Last year, money coming out of 88E came into UKOG, helping the share to treble around Easter time.

Couple more points about the warrants:
1/ they expire after 2 years from issue (late January 2021 for the bulk of them, from memory:
2/ they are not negotiable, ie a warrant holder can only realise any gains on them by exercising them and then selling all or part of the shares thereby acquired.

WG818,

As I said, my guide to cash flow is the revised CPR of 26/10/21.

The share price will determine whether the warrants are exercised or not but, given they are exercisable between 1.20p and 1.50p and the share price is currently slap bang in the middle of that range, there is very little point in discussing an eventual placing without taking account of the warrants.

Warrants are a kind of deferred placing, where:
1/ the market determines if the exercise price is attained;
2/ the individual warrant holder determines when to exercise his/her warrant.

TheManual,

Warrants are RNS'd when they are exercised. Their exercise increases the number of shares issued by the company which has to be communicated to the market.

given we are FAST approaching first gas. (not "first", mind was elsewhere!)

WG818,

For cash flow forecasts, I refer to the revised CPR of 26/10/21 which reflects ANGS's debt commitments.

Re an eventual further placing, will leave that for others to worry about.
As I've said, there's about £2m of warrants to be exercised between 1.20p and 1.50p.
And, in truth, don't believe the share price will remain grossly undervalued for much longer, given we are first approaching first gas.

Skimmed over this morning's posts, noticed the subject of a placing had been raised again, responded to that.

Sorry, WG818, I haven't looked at them.

There are about £2m of warrants to be exercised between 1.20p and 1.50p.

The share share price is currently exactly at the mid-point of that range.