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CORRECTION: in 3/ "He speaks of considering drilling" instead of "considering drilling THEM", to make it clear they are not planning to drill 4 wells, the planning request for 4 wells is to provide them with a choice of options.
From 02:25 RH explains the capital projects at Saltfleetby currently being undertaken or planned.
1/ the booster compressor is on track, being constructed for the company in the US and planned for installation in Q4:
2/ noise abatement measures for the site, the compressor "hoods";
3/ working on a planning request for up to 4 new wells. He speaks of considering drilling probably from mid-2025 onwards.
From 02:25 RH explains the capital projects at Saltfleetby currently being undertaken or planned.
1/ the booster compressor is on track, being constructed for the company in the US and planned for installation in Q4:
2/ noise abatement measures for the site, the compressor "hoods";
3/ working on a planning request for up to 4 new wells. He speaks of considering drilling them probably from mid-2025 onwards.
2 elements: shares in HHDL (note: NOT in UKOG) + advances made to HHDL.
HHDL and HH are both controlled by UKOG. UKOG is not exactly overflowing with cash resources at the present time, so UKOG itself is not a buyer and it is highly unlikely another player would want to buy into the present situation.
For those who haven't listened to RH's interview:
they are currently working on a planning request for up to 4 wells at Saltfleetby, in order to provide them with options when the time to drill comes:
now looking to drill from mid '25.
If one assumes the EV/EBITDA multiple is currently about 2x, then a multiple of about 8x would give us a share price of about 1.30p.
Not seen Singhie's figures just recently but, if I remember right, his share price forecast was 1.51p or thereabouts so, by different routes, one arrives at the same kind of share price.
Gold prices could soar through the end of 2025 if inflation stages a comeback, according to market veteran Ed Yardeni.
The Yardeni Research president predicted that gold prices could rise as high as $3,500 by the end of next year, implying as much as a 49% upside for the precious metal from Monday's price around $2,347. That's because inflation could follow the path it did in the 1970s, when prices began to spiral and gold went from $35 an ounce to a peak of $665 an ounce ...
https://markets.businessinsider.com/news/commodities/gold-price-outlook-record-2025-inflation-oil-production-us-economy-2024-4
What would be a conservative EV/EBITDA multiple for Angus? 8x?
I don't think the share's current price can be explained in terms of the fundamentals of the business, it seems to be very much a matter of negative sentiment.
Following the comment of Krzys Zielicki in the webinar that Angus is valued by the market at about 1x EBITDA:
"EV/EBITDA in energy & environmental services worldwide 2019-2023, by industry
Published by Statista Research Department, Jun 19, 2023
Worldwide, the average value of enterprise value to earnings before interest, tax, depreciation and amortization (EV/EBITDA) in the energy & environmental services sector as of 2023, was a multiple of approximately 12.5x. Green & renewable energy companies saw the highest valuation multiples with an average of 14.03x".
EV = market cap + total debt - cash.
EBITDA in the last annual report: £17.002m
Aleph Commodities is a NEW significant shareholder on the share register: they must have been holding close to 3% before the RNS of 14/03.
42.06% of shares were held by significant shareholders BEFORE today's announcement, we now have about half of all shares in their hands.