Member Info for ocelot

Market sentiment is related to the market.

There had been 2 other positive developments for UKOG this year (the recovery of the Loxley appeal by the Secretary of State; the acquisition of key seismic lines ahead of the Basur-3s drill) but it was not until the Appeal court's decision of last Thursday in favour of Surrey CC that the share price has responded.

For investors in UKOG, the hope must now be that this marks a break with the past and the market's attention is turning towards the potential offered by the future and away from the disappointments of the last few years.

No wonder he keeps placing to pay his inflated wages!!!!
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Pimnappa,

What you are saying is that, by your standards, AIM CEO salaries in general are inflated.

According to BDO's 2021 report on 2020 remuneration levels, the median salary of AIM CEOs was £325,000.

Appreciated, Gideons.

Thank you and best wishes, Gideons.

Gideons,

He showed he cared about shareholders last year, by delaying the placing much longer than anybody had anticipated (by about 6 months in the case of some, by about 3 months in my case).

Those who were following UKOG last year will remember that the last placing was done much later than anybody had anticipated, about 6 months later than some had suggested, about 3 months later than I had imagined.

Their cash management had been tightened to an extent none of us had allowed for.

Extract from the RNS of 10/02/21 re the submission of the appeal:

As previously reported on 19(th) September 2020, in terms of recoverable gas resources, Loxley, 100%-owned by UKOG, is estimated to be one of the largest gas accumulations discovered and flow tested in the UK onshore. Its success case is estimated to be capable of providing energy to power around 200,000 homes per year.

Furthermore, as stated at the SCC planning committee meetings of 29(th) June and 27(th) November 2020, the Company envisages Loxley could play its part in helping achieve net-zero via the supply of gas feedstock for reformation into clean burning hydrogen, an energy source with an 85% reduction in related carbon emissions versus natural gas.

Loxley's and other UK domestic gas also provide a much lower carbon-footprint hydrogen feedstock option than imports, having approximately a quarter of the carbon emissions of imported liquefied natural gas.
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Don't know how long the Secretary of State will take to arrive at his decision, but the appeal is now into its 2nd year.

But since it won't take long to find out, let's wait and see.

Just checked with the video:

Mark Austin speaks of an official total of 130,000 ounces for Clogau and Gwynfynydd combined and, then, at 8:00, says he reckons the real figure was probably the double of that.

Note that Mark Austin reckons Clogau may have produced about double its official historic output, through the entrepreneurial spirit of some of the miners and their families.

If, therefore, the Llechfraith shaft and vicinity look to be of a magnitude largely comparable to the principal Clogau workings, the implications are promising.

For those familiar with Sir Ray and Dave Davies, Adrian is a dedicated follower of fashion:

they seek him here, they seek him there.

close on Friday, 11/02: 0.0975p
close on Friday, 18/02: 0.1384p
gain: 0.0409p = 41.95%

Unlikely.

Companies tend to undertake placings when they need to raise funds and, a little more than 6 months after they raised nearly £5.5m, they have no pressing need to raise additional funds.

Wouldn't they be advised to wait and let the share price run, especially given the fact that the Basur-3 drill may well generate more interest from the market?

scotalba,

We are not in full agreement on this. My reading is that Alba will not be making an appeal but be submitting another application.

We shall see. In the hope that it is resolved in Alba's favour quite soon!

Many thanks, scotalba, that is clear:

Alba have not made an appeal, they can make another application.

Markb24,

I thought he had made a comment like that, but I've been back through the video and haven't found it. The sound quality isn't always very distinct, so it's possible I missed it.

Sorry, one word missing: which does NOT include the questions!

I've been back through Mark Austin's presentation video (which does include the questions). He speaks of having an application in but makes no mention of an appeal.

They raised a total of nearly £5.5m by the end of last July.
With all the delays, their expenditure is definitely not running at an annual rate of about £10m.