Member Info for ocelot

So let's wait and see the results of the Basur-3s drill.

Your figure was about 30 minutes out of date, Ibug.

28.4m now, according to my source.

Accumulated volume just above 500m shares over the last 2 days.

Russia plans to demand ruble payments for natural gas purchases from European nations, deepening its standoff with the west and potentially aggravating Europe’s worst energy crunch since the 1970s ...

Putin’s move showed a growing willingness on both sides to use Russian energy supplies as a weapon in the struggle between Moscow and the west over the war in Ukraine ...

Germany, the biggest buyer of Russian gas, said the announcement on ruble payments is a breech of the contracts, and the nation will speak to its European partners on how to respond, according to Economy Minister Robert Habeck ... (from Bloomberg's headline article).

Russia plans to demand ruble payments for natural gas purchases from European nations, deepening its standoff with the west and potentially aggravating Europe’s worst energy crunch since the 1970s ...

Putin’s move showed a growing willingness on both sides to use Russian energy supplies as a weapon in the struggle between Moscow and the west over the war in Ukraine ...

Germany, the biggest buyer of Russian gas, said the announcement on ruble payments is a breech of the contracts, and the nation will speak to its European partners on how to respond, according to Economy Minister Robert Habeck ... (from Bloomberg's headline article).

PS: gas prices have come back in the last few minutes, up about 20% now.

Heaven knows what are the implications of this news item from the the BBC's live coverage of Ukraine, but they are unlikely to be good (natural gas prices are up about 30% at present):

Russian President Vladimir Putin says Moscow will begin insisting that payments for Russian gas from "unfriendly countries" are made in roubles.

He's given the Russian central bank a week to find a way of switching these payments away from other currencies.

He says the change will only affect payments and that gas will continue to be supplied in line with existing contracts. It's not clear what the impact of this decision will be...

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253318

From the BBC's live coverage of Ukraine:

Russian President Vladimir Putin says Moscow will begin insisting that payments for Russian gas from "unfriendly countries" are made in roubles.

He's given the Russian central bank a week to find a way of switching these payments away from other currencies.

He says the change will only affect payments and that gas will continue to be supplied in line with existing contracts. It's not clear what the impact of this decision will be...

Volume: 30.5m

Good 2-way traffic around the current trading level.

Brent: $120.81

Spring statement:

no windfall tax on oil and gas companies.

Also approaching within about the next month will be UKOG's decision re Arreton, to lodge an appeal or not.

The government's greater focus on energy independence is likely to be a factor in UKOG's decision.

JackBlackburn,

Expect the decision to be favourable to UKOG, given that it was only rejected by the councillors by one vote.

Expect the share price to be higher than now by the time the decision is made available, given that we await the government's energy strategy statement within about the next week and are now heading into the Basur-3s drill.

Because, Ibug, in your opinion, this is adding something constructive to the fundamentals of the company and it's (sic) investments?

oz
At least I'm not 100% down on my investment here unlike some.

From Citywire's round-up of the morning papers:

Top stories
Financial Times: Russia is throttling back capacity on a major pipeline that sends crude oil to global markets, driving prices higher and raising fears that Moscow was prepared to retaliate against western sanctions.

Rishi Sunak's Spring statement today.

Note that this is NOT a statement re the government's energy strategy.

Brent oil will likely hit $150 a barrel this year as the supply shock from the war in Europe coincides with resilient demand from people keen to travel after the virus, according to veteran commodities trader Doug King.

The world has few options to pump more crude, and there’s little sign that consumption is under threat, said King, who runs the $425 million Merchant Commodity Fund, which returned 28% in the first two months of this year.

“Jet fuel demand is going to come back, travel is going to come back,” he said in an interview on Friday. “I think people have money. They’re going to go spend it, so I don’t see the demand destruction at these prices.” ...

https://www.bloomberg.com/news/articles/2022-03-23/oil-set-for-150-on-supply-shock-says-veteran-trader-doug-king?sref=Em01M8Hr

As Tigra noted in his post of 17:22, it is reassuring news for the interested parties in Saltfleetby.

Could we now see some movement on that front?

Let me say "hear, hear" in response to RT003's post of 19:00.

Congratulations to GL and the team at Angus!