Member Info for ocelot

It is very clear that Alba are convinced Clogau will be reopening as a commercial mine.

11.765%, not 5%

Very good news, unlocking the potential value of the Greenland portfolio.

"Time to go", just before the spud of Basur-3?

Or plainly mistimed?

Subject to regulatory approvals, to the extent required, this first phase of the sampling programme is expected to commence in March 2021. (RNS of 24/02)

Wonder how this is coming along. There's a lot going on, it's not easy to keep a track of it all.

https://www.rns-pdf.londonstockexchange.com/rns/1095Q_1-2021-2-23.pdf

The oil price has taken a bit of a knock today: Brent at $66.05

How much of your time are you prepared to invest in this?

Good luck.

Calling a GM may be doable, but you do need to have a majority for the resolutions put to the GM.

But can you get a majority of votes cast to support a pair of boots, a hard hat and a boiler suit?

Phimx,

Who are you proposing to take SS's place?

What level of remuneration are you offering your candidate?

The most time-consuming thing to deliver was the debt facility, that has now been delivered.

Onwards and upwards!

re geothermal drilling techniques, GL says that "some of the stuff we're building here IS proprietary, we will be building out intellectual property around it, this is one of the few things that benefits the pioneer or the first movers".

From about 9:46, re the value play, the investor can say:

"I genuinely believe I've got at least 16 (ie. £16m), at least twice the value and then some, and that's before we look at the other things we're doing and hope to do".

re geothermal:

Memorandum of Understanding with Albanwise, but no financial commitment for the present.

from 19:04, question asked about news flow in the next few months:

1/ "equipment rolling onto site", "the thing happening in front of your eyes";

2/ hope to see seismic at Lidsey "confirming what we believe in internally", then "permission, permission, permission".

Lidsey was one of the reasons the share price got to 30p 3-4 years ago, "we're trying to bring that back right into the frame";

3/ constant stream on geothermal.

Towards the end, GL spoke of Lidsey as being one of the reasons Angus's share got up to 30p in the past.

This is before my time on the board, and before his at Angus, but interesting that he should choose to mention it.

At the end, Donald Leggatt thanks GL for the "robust discussion".

It's true, thought GL was in combative form, keen to get the message out about Angus.

About 10 minutes in, he described ANGS as "a value play, not a risk play".

This was part of GL's answer to an Investor Question asked on 27/01/21:

The potential debt participants in the facility have indicated a strong preference for a buyng a “floor” (a seasonally adjusted option over a minimum price) at or around 30 p/therm over at least a majority of the production albeit on a declining balance related to expected outstandings on the loans.

If you look at the futures curve, the price now seems to lie between about 35p and about 50p.

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

No idea as to timing, but can't see it posing any major problem: the royalty agreement only kicks in after the lenders have been repaid, ie when the principal remaining risks attached to Saltfleetby have become essentially technical in nature.