Member Info for ocelot

Indeed, it is because UKOG has been financed via placings that it has no financial debt (apart from £3.087m of loans payable to non-controlling interests in HHDL, the repayment of which is determined by ... HHDL and, therefore, by UKOG).

The balance sheet is solid, all the more so because they seem to have been very conservative when impairing their assets.

A placing will come at some point, I think we can all agree on that.

Hopefully, however, it will come when the share price is considerably higher.

Nobody has any objection of principle to a placing, it's all a question of the placing price.

.

... but don't wait for the re-rate.

Last year, there were definitely forecasts of a placing in January, if not before. At the best, therefore, some of those forecasts were 6 months out.

Indeed, it is probably some of those forecasting a placing this year who were caught out so badly last year!

Honestly don't know, Gideons.

What I do know is that there were very many forecasts of a placing last year and I myself was expecting one in about March. It came through in July, 4 months later and less than a year ago.

Their cash management has become tight. I suspect, therefore, that they are more at ease financially than the negative voices like to proclaim.

Finance, Gideons. He can't do everything at once unless ... he can get the share price up to a much less give-away level.

... Ukraine’s gas grid said it can no longer accept Russian gas transit via Sokhranivka from 7 a.m. local time. It added that flows could be rerouted via Sudzha, a suggestion Gazprom rejected. If the two countries can’t come to an agreement, gas shipments to Europe could start falling from Wednesday.

Sokhranivka and Sudzha are two key points on the border between Russia and Ukraine that receive flows from Gazprom for transit to Europe. As of Tuesday, 27% of the flows went through Sokhranivka, with the rest passing through Sudzha ...

European gas prices surged as much as 8.1%, reversing earlier losses. Prices then pared gains to close 5% higher at 98.8 euros a megawatt-hour.

Gazprom said it sees no issue continuing to flow gas via Ukraine as usual, and that it’s meeting all obligations to European clients.

European gas traders remain on edge even though prices have eased recently thanks to steady stream of liquefied natural gas cargoes arriving in the region and warm weather. Russia supplied about 40% of the European Union’s gas demand last year, and about a third of that was transited via Ukraine, making it a linchpin in the continent’s energy security. (from Bloomberg)

SS has spoken of Loxley in terms of the UK's 2nd biggest ever onshore gas field.

Given the international situation and the price of natural gas, Loxley is, therefore, a potentially very valuable asset which could transform the market's perception of UKOG.

Gideons,

Think Basur-Resan may come first, before either Loxley or HH.

What Loxley should do (assuming the decision is favourable to UKOG) is provide them with a stronger share price and an asset on which they can raise cash from a joint venture partner, should they wish to do so.

The Planning Inspectorate has also advised that they expect the SoS to issue his decision on or before 7 June 2022. (RNS of 11/03)

Wow, it's been removed already!

It would be an expensive and, in all likelihood, a doomed, exercise to prove it.

Excessive language, reported.

The oil ministers of Saudi Arabia and the United Arab Emirates warned that spare capacity is decreasing in all energy sectors, as products from crude to diesel and natural gas trade near record highs in the wake of Russia’s invasion of Ukraine.

“I am a dinosaur, but I have never seen these things,” Saudi minister Prince Abdulaziz bin Salman, who’s been attending OPEC meetings since the 1980s, said Tuesday at a conference in Abu Dhabi, referring to the recent surge in prices for refined products. “The world needs to wake up to an existing reality. The world is running out of energy capacity at all levels.”

The comments came in the same week that retail U.S. gasoline prices rose to a record. The minister made similar remarks on Monday, saying that a lack of investment in energy production and refining was leading to costlier fuel.

The prince’s UAE counterpart, Suhail al Mazrouei, said on the same panel that without more investment across the globe, OPEC+ wouldn’t be able to guarantee sufficient supplies of oil when demand fully recovers from the coronavirus pandemic ...

Still, for now there’s no shortage of oil and thus no need for OPEC+ to accelerate its gradual production increases, according to Mazrouei.

“The market is balanced,” he said ...

https://www.bloomberg.com/news/articles/2022-05-10/saudi-oil-chief-says-all-energy-sectors-running-out-of-capacity?srnd=premium-europe&sref=Em01M8Hr

The oil ministers of Saudi Arabia and the United Arab Emirates warned that spare capacity is decreasing in all energy sectors, as products from crude to diesel and natural gas trade near record highs in the wake of Russia’s invasion of Ukraine.

“I am a dinosaur, but I have never seen these things,” Saudi minister Prince Abdulaziz bin Salman, who’s been attending OPEC meetings since the 1980s, said Tuesday at a conference in Abu Dhabi, referring to the recent surge in prices for refined products. “The world needs to wake up to an existing reality. The world is running out of energy capacity at all levels.”

The comments came in the same week that retail U.S. gasoline prices rose to a record. The minister made similar remarks on Monday, saying that a lack of investment in energy production and refining was leading to costlier fuel.

The prince’s UAE counterpart, Suhail al Mazrouei, said on the same panel that without more investment across the globe, OPEC+ wouldn’t be able to guarantee sufficient supplies of oil when demand fully recovers from the coronavirus pandemic ...

Still, for now there’s no shortage of oil and thus no need for OPEC+ to accelerate its gradual production increases, according to Mazrouei.

“The market is balanced,” he said ...

https://www.bloomberg.com/news/articles/2022-05-10/saudi-oil-chief-says-all-energy-sectors-running-out-of-capacity?srnd=premium-europe&sref=Em01M8Hr

Unless I'm mistaken, it seems to be quite a quiet day across the market in general.

Re-post of my post of last Wednesday, 16:55. The oil cut on the basis of the most recent figures available was 35.9%:

... Feb 22 262 147
Over 50% has been water for the last 5 months.
-----------------------------------
Don't you mean water has represented more than 50% of oil for the last 5 months?

If we take February, water (147) is 35.9% of the total of (262 + 147 =) 409.

There is very little point in studying the cost of sales without taking into consideration the sales those costs are helping to generate.

It has everything to do with the cost of sales as a percentage of sales.