Member Info for ocelot

Extra profit? Wording in the annual report and accounts indicated in mid April that HH was not then in profit., Has the higher OP moved it into profit?
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The annual report concerned the year to 30/09/20.

At the time of the 1st Turkey RNS of 23/07/20, Turkey's operating margin was forecast to be ($40-$15=) $25.

An oil price of $73 raises that operating margin to $58, an increase of 132%.

Penguins,

Much more likely, imho, they have no immediate need to undertake a fundraise, (the "near" term not necessarily being the immediate term).

Without precedent, I should think.

pdf version:

https://www.rns-pdf.londonstockexchange.com/rns/7192B_1-2021-6-13.pdf

No fundraise RNS.

There will be a fundraise in the "near" future, but the near future isn't necessarily the immediate future and UKOG continues to give the impression it is in no immediate hurry.

.

It makes very little difference whether zoom is right or wrong in suggesting the rig is already on site, because we all know, if it isn't, then it will be very soon.

... it has successfully raised GBP2.2 million to fund its share of INITIAL drilling and seismic costs through a placing ("Placing") of 1,374,999,993 new ordinary shares ("Placing Shares")...

The Proceeds of the Placing will, therefore, be used PRIMARILY to support and fund UKOG's share of initial Turkish Licence operations costs, TO INCLUDE the purchase of long-lead drilling equipment, construction of a drilling pad and necessary preparations for seismic acquisition. (from the last placing RNS of 02/10/20)

My capitals indicate where the wiggle room has been built into the text.

We would only remind everyone of how greatly improved the overall pricing environment is for gas since this time last year and we are fortunate in not having needed to put in place the hedge last year.
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A positive result of the delays!

... and some new ones posted for this month.

Answered:

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

Must stop posting, was criticised for the number of my posts by yourself, Penguins, last weekend.

So just to add:

maintain my "Strong Buy" opinion, continue to believe UKOG's share price has the potential to rise into the range of about 0.80p - 1.10p.

Nobody knows what the results of Basur-3 will be, but if you think they will be poor, then there are other oil explorers out there to follow.

Think there is a bit of a quiet transformation underway: UKOG's cash management has become pretty tight, they have taken their time to announce the next placing, directors are introducing a share purchase programme.

Penguins,

If I had your pessimism, I wouldn't be posting on this board, I would be looking for other stocks to follow.

It's the stock market, Penguins, there is nothing at all unusual in a company speaking of "potential" or of investors seeking to get the measure of it.

... Our portfolio, notably Basur-Resan in Turkey and Loxley in the UK, has the potential to generate significant returns for the Company and its shareholders...

We are actively investigating hybrid geothermal projects at two of our UK sites and will review geothermal opportunities onshore Turkey. (from UKOG's home page)

UKOG is becoming Anglo-Turkish in its activities, it would make sense for its ownership to become Anglo-Turkish, too.

THE COMPANY APOLOGISES FOR THE DELAY IN ANSWERING MAY MONTH’S QUESTIONS DUE TO THE WORKFLOW SURROUNDING CLOSING OF THE FACILITY. THESE WILL NOW BE ANSWERED BEFORE 14TH JUNE.

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

There's enough going on that news can be released at any time:

Summer plans for Greenland, updates re progress at Clogau, updates re Greenland Listco, ...

Lucky-Strike,

For the 43p per therm price, take a look at the futures curve:

https://www.erce.energy/graph/uk-natural-gas-futures-curve/

Given that UKOG's share capital seems to be held exclusively by PIs, and most of them are likely to be British, the arrival of just one substantial Turkish player amongst the company's shareholders would make quite an impact.

Obviously, UKOG has all of its UK interests as well, so such an investor would need to rate highly the prospects of success in Turkey.

Mind you, all of its UK interests aren't currently valued at very much!