Member Info for ocelot

With Michael Nott, he bought some stock at a premium to the market in the troubled times of early 2020 (if I remember right) as a display of confidence - for myself, management has my confidence.

In 2020, if I remember right, the median annual salary of an AIM-listed CEO was £325,000

Part of answer to an Investor Question asked on 27/10/21:

A.The lenders technical advisers and Angus evaluated the deliverability of the existing two wells as being likely to be greater than 5 mmscfd. The reasoning was twofold. In the last years of delivery to the old Conoco refinery, average production was constrained by persistent issues with the main compressor at Theddlethorpe. Secondly it was the view of technical experts that, following a prolonged shut-in, the two wells should have improved deliverability in the first 18 months or so of operations. This is because prior to shut in there was an area of reduced pressure around the producing wells. Since then the pressure has equilibrated across the field resulting in significantly higher pressure around the producers. So it is our view that the hedged production should be able to be covered by these two wells in the event of failure of the sidetrack

is Brockham producing oil via water injection?

Asked on 20 May 2022

53% upside potential just to return to the level of 0.195p of the morning of the re-run negative Loxley planning committee.

That post is dated 27/11/20, the day of the re-run negative Loxley planning committee meeting.

The price at 08:30 that morning was 0.195p, it is now 0.1275p.

It does look as if the negative Loxley decision has weighed heavily on the share price these last 18 months.

One step closer for the project, one giant leap for the share price (hopefully).

In fact from his point of view the more red tape the better…
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Hence Basur-Resan of course.

UKOG holds some potentially very valuable assets:
we await news soon of both Loxley and Basur-Resan;
the principal minority investor in HHDL, Alba wrote yesterday in its final results RNS of "the inherent, and to date largely untapped, value of the Horse Hill Oil Field".
Recent events mean that, in the UK, energy independence has become a governmental priority.
UKOG's future looks promising and its shares, undervalued.

I still think all is good.
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So do (most of) the derampers, Yanis, otherwise there would not have been so much focus on the sidetrack.

Having submitted our Statement of Case, WSCC submitted their Statement of Case during March and we responded with our rebuttal on 12 April 2022. The matter is now with the Inspector. (answer to Investor Question asked on 30/04)

Since the councillors (unanimously, if I remember right) ignored the recommendations of their officers and rejected Angus's application for an ewt, energy independence has, for all the reasons of which we are fully aware, become a governmental priority.
Angus and its partners have invested time and money in getting to the stage where they have discovered oil, oil which flowed at a thoroughly encouraging rate.
Let us hope they are given the opportunity to follow up on their discovery.

The RNS contained a reminder of the deadline for the Loxley appeal decision:

As previously reported on 11(th) March 2022, the Company is currently awaiting a final decision on its appeal against Surrey County Council's refusal of planning consent for the Loxley gas project by the Secretary of State for Levelling Up, Housing and Communities ("SoS"). The Planning Inspectorate advised the Company in March 2022 that they expect the SoS to issue his decision on or before 7 June 2022.

UKOG's own learnings from future Kimmeridge drills could be augmented by information gleaned from Angus and its partners (Cuadrilla owns the majority stake), should Angus win its appeal re the ewt of Balcombe.

... The additional 2 years will permit any learnings from possible future Kimmeridge drilling at both the Company's nearby Loxley conventional gas and Horse hill oil fields to be factored into the Company's future Broadford Bridge plans ...

In accord with the Company's stated plans to diversify into the provision of sustainable green energy in the UK, the extension will also permit conceptual plans for the supply of heat energy from BB to a possible new large scale greenhouse end-user to be further developed. The early-stage concept includes use of the BB drilling pad to site several new stand-alone deep geothermal wells.

2-year extension of WSCC's BB planning permission

last post visible Thursday 12:57

the day's volume is now up to 110.5m, that's 8% of total issued share capital.

Are there any stakes, or increased stakes, to be disclosed in the coming days?

NT - Negotiated trade: a Negotiated trade made with immediate publication. These are usually large volume trades where the price has been negotiated.

Wish it had!

1/4 of the warrants are exercisable at 1.50p, so we're not there yet (close, mind you!).

Usually, the exercise of warrants can take quite some time, depending on the individual warrant holder's objectives. There may well be an initial rush and then they the remainder may be exercised at a much slower rate.