Member Info for ocelot

Ibug,

Don't believe the oil price has been pretty stable for the last 5 months!

More than a third, Gideons: I did calculate the precise figure in a post, but have forgotten it.

Oil price up means fewer tankers produce the same revenue, so cost of sales should be down as a percentage.

It's a notification that is required when the issued share capital changes, so probably follows the issue of the last placing shares (due to be admitted no later than 28/04).

The oil market is projecting a false sense of stability when it comes to energy inflation, Javier Blas writes. The real economy is suffering a much stronger price shock than it appears, with fuel prices rising much faster than crude. Typically, the two move in tandem, almost symmetrically. That the two have become disconnected matters for both inflation and monetary policy.

Petroleum Shock
Refined oil products have risen between 30% and nearly 140% since Russia invaded Ukraine in late February, compared to less than 15% for crude.

Wish him all the best.

Almost 15m at 0.1333p just traded.

It certainly makes my decisions easier.
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You've lost me, Ibug.

Ibug,

And the timing of this "foregone conclusion"?

That did not prove easy to foresee.

Following the recovery of the Loxley appeal decision by the Secretary of State and a decision by SCC in favour of Angus's Brockham, it appears there may be a greater appreciation by the authorities of what the industry can offer.

The decision was in favour of UKOG, that was the good (and long-awaited) news.

Re the Kimmeridge at Angus's Balcombe, George Lucan was asked on 30/04 for an update on their appeal and answered as follows:

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.

Loxley? Basur-Resan? or both?

If we take Alba's 30/11/20 valuation of its stake of 11.765% in HH at £4m, then UKOG's 85.635%-stake would be valued at £29.1m.
That would mean UKOG's market cap is comfortably covered by HH valued before the recent, positive RNSs concerning it and all other prospects are in UKOG's market cap for free.

Personally I think it has a lot to do with the lack of confidence of PI's in the BoD. Welcome to the real world.
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That's unlike you, Ibug, you're making the bull point, that UKOG's share price is depressed by negative sentiment, ie. an improvement in sentiment should lead to a rise in the share price.

reminder: last year Alba's final results were released on 20/05.

George Frangeskides, (Alba's) Executive Chairman, commented:

"This is welcome news. We look forward to hearing of the Operator's plans for enhancing productivity and delivering on the inherent, and to date largely untapped, value of the Horse Hill Oil Field."

Ninetails,

You are almost certainly missing a change in the share price since SS spoke of the Bahamas. A lower share price (and market cap) means the share has become more sensitive to positive, and potentially positive, news.

That's not the closing auction price, that's the price of a late-reported trade.

All in all a very good week. (from your post of 16:56)
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In full agreement, Ibug.