Member Info for ocelot

Reminder of the RNS of 02/08:

The Company has had further discussions with West Sussex County Council and has indicated its intention to appeal the WSCC Planning Committee's decision to reject our application for a short well test against the Officers' recommendation to approve. Angus will be making its appeal to the Planning Inspectorate and is presently preparing its statement of case.

Let's hope it will be accompanied by a campaign for the reform of English bureaucracy.

Shanta Gold's market cap is about £117m. Wishing Matt Gormley all the best as UKOG's CFO.

"UKOG" or the "Company")

Board and Management Changes

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that following a thorough external recruitment process, Matt Gormley has joined UKOG as the Company's Chief Financial Officer, a non-board position.

Matt Gormley was previously Group Financial Controller of Shanta Gold Limited and an Audit Manager at Grant Thornton UK LLP.

With effect from 1 January 2022 the board will also be restructured. Kiran Morzaria will step down as Finance Director and will become a Non-Executive Director. Allen Howard will move from Non-Executive Chairman to become an Executive Director of the Company on a part-time basis. Nick Marden Taylor will become the Non-Executive Chairman.

Chief Executive Stephen Sanderson commented:

"We are delighted to welcome Matt Gormley into the UKOG team. His fresh perspective from an alternate sector will be particularly valuable as UKOG seeks to expand internationally and diversify into green geothermal and hydrogen energy within the UK."

https://drillordrop.com/2021/11/24/public-views-sought-on-brockham-oil-production-plans/

Very quiet trading across the market - UKOG's volume is the 5th highest.

Appreciate your efforts, Ibug.

Thank you for the clarification, Ibug.

The answer to the question is that Alba's % holding in HHDL is way below that required for consolidation (it is UKOG which can treat HHDL as its subsidiary), so the investment in HHDL is treated as ... an investment, at cost less impairments (as in the last annual accounts).

A reminder from the original 23/07/20 RNS:

Any future oil production is therefore expected to be economically robust at current $40/bbl oil prices as front end capital costs per barrel are relatively low and expected operating costs, derived from those at AME's nearby East Sadak field, are forecast to be comparable with UKOG's Horse Hill field operating costs at around $15/bbl.

Expected to be "economically robust " with Brent at $40 and an operating margin of $25, Brent is currently $82.50 and the prospective operating margin, $67.50, 170% higher.

Ibug,

Simply trying to get a handle on the kind of flows which the partners may be seeking to generate from Basur-3 and follow-up drills.

Given that AME states in its 2020 annual report re Resan that "The technical analysis to date suggests structures similar to our East Sadak lease", the obvious place to start is with the figures for East Sadak.

Short-term power prices surged in Europe, hitting the second-highest level on record in Germany, as arctic air moved in bringing snow and sub-zero temperatures across the central-west region.

Day-ahead power prices jumped in Germany, France and the Netherlands with temperatures falling as low as -6 degrees Celsius (21 degrees Fahrenheit) in eastern France, according to state forecaster Meteo France. Snow is expected in the south and northeast of Germany, DWD said on twitter ...

https://www.bloomberg.com/news/articles/2021-11-23/power-prices-surge-as-arctic-blast-brings-snow-to-europe?sref=Em01M8Hr

Ibug,

Are your monthly figures for the East Sadak field or for AME's 88%-share of it, please?

reservation: are Ibug's monthly figures for the East Sadak field or for AME's 88%-share of it?

If we take the most recent May 2021 figure of 11,681, that equals an annual figure of 140,172 equivalent (at $80) to revenue of $11.214m or (at 1.34) £8.37m.

If Basur-3 was to replicate East Sadak, UKOG's 50%-share would be $5.607m or £4.185m.

... And the truth is the most sceptical, by professional necessity, were likely have been the lenders, who made available £12m, more than the current value of all shareholders' equity in Angus.

I get what you are saying that the market as a whole appears to contain more sceptics than believers ...
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That is where the money is to be made, when the sceptics are confounded.

To put those figures into perspective, at 0.875p Angus's market cap is currently £8.9m.

You've omitted to take account of the hedge, Yanis - once production exceeds the hedged amount, revenues increase markedly.

In deep negative territory, the moving averages:

50-Day 0.195
100-Day 0.227
200-Day 0.262
Year-to-Date 0.279