Member Info for ocelot

Very non-committal about the Balcombe appeal.

Re the sidetrack, think GL said they are now looking to get about 2 months' production way before undertaking it.

Don't remember GL's precise words but spoke in terms of a dividend being a way to show respect to shareholders or something like that.

Continue to believe this company may prove to be a long-term growth story very suitable for family offices and like-minded investors.

Just at the present , however, it is grossly undervalued (sum of the parts valuation of £43m v market cap of £7.5m.

Management's sum of the parts valuation: £43m, made up as follows:

Saltfleetby: £20m
Lidsey: £15m
Geothermal: £8m

"Very high level of confidence" in the Saltfleetby sidetrack.
Sees bulk of debt gone in 2023, when there may be question of a celebratory dividend payment.

The geothermal's presently embedded value of £8m is after prudential discount of 90%.
In the long run, geothermal will be the largest part of the company's value.

Have to wait and see, ZYX098.

It is very clear, to my eyes at least, that UKOG are in no great hurry to get the next fundraise away.

If everything is going to plan; why do they need working capital in the "near" future?
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Because it is part of the plan to raise capital in the near future (which doesn't necessarily mean the immediate future).

cyan2,

If everything is going to plan, they have no reason to update the market.

No sign of the drill yet and the only logical reason is that AME are awaiting a cash payment from UKOG.
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Nope.

Another logical reason could be one of logistics.

Yes, cyan2, we disagree.

"... will require further funds in the NEAR future" isn't the same as saying: will require further funds in the immediate future.

Confidence will erode as long as UKOG remain silent regarding the urgently needed fund raise.
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Nothing in UKOG's conduct suggests the next fundraise is as "urgently needed" as almost all of us had assumed.

On the contrary, by taking their time to call the GM and, since the GM, of announcing the next fundraise, they seem to be dropping broad hints that they are under no immediate financial pressure.

To my way of thinking, the next fundraise looks as if it is being choreographed, to follow the spud and initial drilling of Basur-3.

That's 4 years ago, Penguins, and is of little more than academic interest now.

Better volume now (40.9m) than yesterday's after the closing auction, so looks as if MMs have managed to find some of the buying interest they were looking for.

Appreciation of wildlife, Lucky-Strike:

The ocelot (Leopardus pardalis) is a medium-sized spotted wild cat that reaches 40–50 cm (15.7–19.7 in) at the shoulders and weighs between 8 and 15.5 kg (17.6 and 34.2 lb). It was first described by Carl Linnaeus in 1758. Two subspecies are recognized. It is native to the southwestern United States, Mexico, Central and South America, and to the Caribbean islands of Trinidad and Margarita. It prefers areas close to water sources with dense vegetation cover and high prey availability.

Very good result, well played Wales!

Think I know Miss interpretation's elder sister!

The votes at the GM showed just how far removed from reality were the expectations of some of the naysayers.

The current backing for Rodders Jones's site is in support of his 3 resolutions.

There is nothing permanent about that support, it can fall away again if his alternative management strategy &/or alternative management team fail to convince.

Far from being crazy, you are taking advantage of an unjustified decline in the share price.

Best wishes.

To date, Rodders Jones's site has given the impression of being amateurish.

You don't seek to overthrow management by claiming to have grown a dislike of them, that is a purely personal matter between you and management.

To overthrow management, you need a coherent alternative management strategy and a credible alternative management team to execute it.

The Rodders Jones site hasn't yet started to get to grips with these matters.

Two completely agendas.
One was about future funding and the other about putting in a new BoD.
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On that we are agreed, Ibug, they are 2 completely different agendas.

This is the point I made to you ahead of the GM, I'm glad you are now prepared to accept it.

Ibug,

You made exactly the same point ahead of the GM and were proven to be completely wrong.