Member Info for ocelot

If the rumour had a significant impact on the share price of, say, 20%, then ANGS might be obliged to issue an RNS, but the impact on the share price isn't anywhere near that magnitude for the present, so I'm not at all sure any RNS is required from them.

WG818, yes, that's right.

The option was announced in the same RNS of 04/05/21 in which they delisted.

AAOG's option valued Saltfleetby at £32m back in its RNS of 04/05/21.

But that was before the rise in natural gas prices and the uplift of 54% in the amended CPR, so £40m looks to be understated to my eyes.

EchDelta,

Your £8m for 25% of Saltfleetby comes from AAOG's RNS of 04/05/21:

Option to acquire UK Petroleum Licences

The Company will tomorrow enter into an option agreement (the "Option") with Saltfleetby Energy Limited ("SEL") to acquire a 25% interest in in the Saltfleetby gas field, East Lincolnshire.

SEL holds a 49% legal and beneficial interest in Petroleum Exploration and Development Licence 005 (the "Licence") and is a party to a joint operating agreement regulating the operations under the Licence (the "JOA") . On exercise of the Option AAOG would also become a party to the JOA.

The consideration for the exercise of the Option shall be the issue and allotment to SEL of such number of ordinary shares in the capital of AAOG as is equal in value to GBP8m...

In the June 2021 presentation, ANGS valued Lidsey at £15m after a prudential discount of 80%, so at £75m before any discount.

Given the additional work done on Lidsey since then, the prudential discount can, presumably, now be reduced to a certain degree.

Agree with Jamesthesecond's post in terms of the ball-park figures for Saltfleetby and Lidsey.

At least Alba don't have to worry about chinchillas!

Chinchillas are having a rough time. The large rodent, whose prized fur saw it hunted to the brink of extinction, is facing another challenge: a gold mine. Gold Fields, in the midst of an $860 million expansion project, must come up with a new plan to move more than 20 short-tailed chinchillas from its Salares Norte site after Chile's environmental agency halted its original relocation program when two of four animals died. The Atacama region is one of the last wild refuges of the bluish-grey furred rodent. (from Bloomberg's round-up of this morning's market news)

It looks as if Saltfleetby is raising Angus's profile within the industry and establishing its reputation and credibility amongst its peers.

Many thanks, Vetta, and best wishes to you.

It's been a long and difficult journey with UKOG, but there remains hope for the future in Resan, Loxley, HH, predictions for the oil price in 2022 and 2023 and, maybe, in some of its plans for greener sources of energy.

I don't see many of the criticisms of myself personally, because, for the large part, they seem to be made by ... those I have filtered!

Angus has come a very long way this year and looks very interesting indeed.

They have had their fair share of setbacks, there is no denying that, and the delays of the regulatory regime are unhelpful and expensive (but there is nothing to be done about that except to go elsewhere).

Re HH, we continue to await the necessary permissions.
Re Loxley, we continue to await the appeal decision.

gwilliams,

If you believe UKOG will fail to produce oil in Resan, then, of course, you are right.

Otherwise, the oil price and projections provide the context in which to assess the potential value of any oil that does flow in Resan.

EchDelta,

Agreed, games are being played, whether there is a professional short seller or not, the share behaves as if there is one.

It is a standard trick of short-sellers to seek to discourage long-term investors by stopping a share from rising on good news.

Reminder of the sum-of-the-parts calculation based upon the presentation of June 2021 and uplifted by 54% for Saltfleetby following the amended CPR:

5.5p per share.

Angus's profile, imho, fits the requirements of institutional investors, it is being managed with a view to the long term.

But it's market cap is too low at the present time to attract any institutional interest apart from that, maybe, of fund managers specialising in very small caps.

It means success could breed success, that as the market cap increases the potential pool of investors should increase.

If any professional operators are short, then they will need to reverse their books - lots of good things on the short-term horizon here.

Just one hefty PI can make a big difference - Rupert Labrum was a significant shareholder until he decided to focus on Primorus Investments.

If JP Morgan's oil price forecasts are anywhere near being proven correct, then UKOG's prospects will be transformed.

With operating costs of about $15 in Resan, the operating margin of Basur-3 with an oil price of $125 becomes $110.

JP Morgan forecasting $125 oil in 2022 and $150 oil in 2023 - Lidsey has the potential to become a valuable asset:

https://oilprice.com/Energy/Energy-General/Oil-Prices-Projected-To-Hit-125-In-2022.html

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

The planning appeal, including a complete Statement of Case, was submitted to the Planning Inspectorate in September and other relevant parties were notified, but we have not received confirmation that an officer has been appointed to consider the case. The next step is for West Sussex County Council to submit their response which we can respond to. We will update the market as soon as there is a reasonable timeline to report on.