Member Info for ocelot

Interest had already been expressed in Saltfleetby over the previous two years. Continued interest and a formal approach for Angus shares encouraged the Board to open the doors to further buyers so as secure the best price for shareholders and to draw attention to our undervalued shares. After all we had a market capitalisation of £6 million at one point last year, with an interest in Saltfleetby conservatively valued at £24 million.

Hello, Are you able to share with shareholders the impact the current very high! gas price has on the economics of the Saltfleetby field? To that end, will these vastly improved numbers be taken into consideration when discussing a possible sale with interested parties? Thank you. Asked on 28 February 2022

The economics of the field looking great – principally because the forward curve is so greatly improved. See

https://www.cmegroup.com/markets/energy/natural-gas/uk-nbp-natural-gas-usd-mmbtu-icis-heren-front-month.html

(to get pence/therm from $/mmbtu divide by 1.35 for the exchange rate and multiply by ten). Current prices are high at 225p/therm but they are even higher in March 2023! Even as far out as March 2024 they are 130p/therm or over two and half times the 10 year average of 50 p/therm we made our initial projections on in 2020.

https://www.angusenergy.co.uk/media/investor-questions/

Down marginally on the day but volume remains perfectly healthy, much healthier than quite recently: UKOG remains on the radar of PIs.

It's all very largely irrelevant: 5 bona fide interested parties; approaching first gas; plus the legacy assets and geothermal; that is, in resume, what matters.

Can't agree with that.

Yanis is a long-term holder who has had the courage to average down during recent months.

Yes, I would, but HH is out of UKOG's control, in the hands of the regulatory authorities.

Ninetails,

Depends upon whether the market takes account of UKOG's prospects in SE Turkey or not. Personally, as we approach the drill, I think it will.

European natural gas surged after another round of international sanctions on Russia over the weekend amplified concerns about energy shortages.

Futures jumped as much as 36% on Monday after Western nations agreed to impose stronger penalties because the initial ones failed to persuade President Vladimir Putin to withdraw his forces from Ukraine. The new sanctions exclude energy, but they could force buyers, financiers and shippers to stay away from Russian flows. Meanwhile, there are fears Moscow could retaliate by cutting supplies. Stricter restrictions also may follow... (from Bloomberg)

Demand destruction is the only thing that can stop oil shooting higher after the U.S. and European allies unleashed additional curbs on Russia following its invasion of Ukraine, according to Goldman Sachs Group Inc.

The bank raised its one-month forecast for Brent crude to $115 a barrel, from $95, with significant upside risks on further escalation or longer disruption... (from Bloomberg)

Front months up about 15-16% at the present:

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

We've gone back to a pre-WWII agreement!

Turkey has said it will apply the terms of an international agreement that could see it block access to the Black Sea for the Russian Navy.

Under the 1936 Montreux Convention, Turkey has control over the two straits that connect the Black Sea, which sits on Ukraine’s southern coast, to the Mediterranean.

The convention guarantees the free passage of vessels belonging to Black Sea countries - like Russia - in peacetime, but allows Turkey to close the straits to all foreign warships in a time of war or if Turkey itself is threatened...

BP to exit its shareholding in Russian energy giant Rosneft
BP is to exit its shareholding in Russian oil giant Rosneft, the company has announced...

10:35
Kyiv calls for global embargo on Russian oil
Ukraine's Foreign Minister is calling on the world to stop purchasing Russian crude oil.
Dmytro Kuleba tweeted: "I demand the world: fully isolate Russia, expel ambassadors, oil embargo, ruin its economy. Stop Russian war criminals!"

So far Western sanctions have avoided targeting Russia's energy sector.

We haven't heard anything about Lidsey just recently, but there is more to Angus than just Saltfleetby.

If the stock can steadily gain some height without doing anything spectacular, that will do just fine.

Share price has ticked up a little on modest volume. Looked as if it was heading upwards from some time during yesterday afternoon.

We promise to do this. Great!
We promise to do that. Fine!
This is in contradiction with that. Never mind, we maintain our promises to do both.

I'll take your word for the production percentage, ZYX098, but, in present circumstances, imho, they should be doing all they can to encourage UK oil and gas production ... and have the courage to stand up to the environmental lobby (but, of course, that would require them to admit the contradictions within their different policy aims).

From the BBC:

... The bank Investec said the conflict, along with surging global demand, had made gas and electricity prices soar.

It expects the energy price cap, which limits what suppliers can charge, to hit £3,238 a year for the average home when it's next adjusted in October.

The cap is already due to rise by £693 to £1,971 in April...

In these circumstances, why doesn't the government seek to fast track certain projects such as UKOG's Loxley?