Member Info for ocelot

Not sure about that - there is an All Saints service in the Anglican liturgy.

Today's brief video:

https://www.youtube.com/watch?v=yS8upmTwZcg&ab_channel=AlbaMineralResources

Reminder that the application for the dewatering permit was signalled in the RNS of 02/02.

... Indeed, although we are drilling for structure not for grade,
nonetheless the grades returned of up to 4.25 g/t are really pleasing, not least when
considered against the highly nuggety nature of the lodes.”
“These results have added impetus and urgency to the dewatering of the Llechfraith
Shaft and the subsequent underground development – we believe that this on-reef
development will reveal the true nature of the orebody ultimately leading to a mining
operation.”

Mark Austin is "really pleased" with the results and keen to press on with the underground development of Llechfraith - for myself, it is his opinion and that of Alba which matters.

• Results add weight to the Company’s objective to dewater the Llechfraith Shaft as
soon as possible to allow direct access to the on-reef development.

pdf version:

https://www.rns-pdf.londonstockexchange.com/rns/4169W_1-2021-4-23.pdf

Penguins,

I'm not claiming any kind of infallibility for myself, the market doesn't really allow that kind of self-indulgent thinking (not for very long anyway!).

But the fact is that the share price went from 0.80p to 11p and, then, took about 2 1/2 years to break below 0.80p while you had been negative at 0.80p.

As far as market participants are concerned, it doesn't matter whether the share rose on a "false promise" or not, the fact is it DID rise very impressively and there was money to be made if you were long and money to be lost if you were short.

In 2017, it moved up from 0.80p to 11p at the peak, ie it multiplied by 13.75 times.

Its recent low was 0.105p. A similar movement today would take the price up to 1.45p.

Is that possible in the present context? We don't know, but the precedent is there.

That sounds as if you were negative about UKOG as it climbed from 0.80p to 11p.'

Yes I was and it would be quite a put down if it wasn't for the fact that after the rise to 11p (for moments) it dropped eventually to just over 0.1p and is still below 0.8p.
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It is still quite a put-down, Penguins.

You were negative on UKOG when it was at 0.80p in mid-2017.

It wasn't until early 2020, about 2 1/2 years later, that it fell below 0.80p.

... at least BDI and FOTH were prepared to put their (wrong) opinions about the company whilst having a go.
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Penguins,

That sounds as if you were negative about UKOG as it climbed from 0.80p to 11p.

SS's video interview has been posted twice by UKOG, under the title FUTURE UPDATE on 16/04 and under the title SHIFT OF STRATEGY on 20/04.

I prefer the "shift of strategy" :-)

From p65 of the Prospectus:

(b) If you do not want to take up your rights at all
If you do not want to take up your rights, you do not need to do anything. If you do not return
your Provisional Allotment Letter to acquire the New Shares to which you are entitled by
11.00 a.m. on 21 April 2021, the Company has made arrangements under which the
Underwriters will try to find investors to take up your rights and the rights of others who have
not taken them up on your or their behalf. If the Underwriters find investors who agree to pay a
premium over the Rights Issue Price and the related expenses of procuring those investors
(including any applicable brokerage and commissions and amounts in respect of VAT which
are not recoverable), you will be sent a cheque for your share of the amount of that premium,
provided that this is £5.00 or more. Cheques are expected to be dispatched by 29 April 2021
and will be sent to your existing address appearing on the Company’s register of members (or
to the first-named holder if you hold your Existing Shares jointly)...

It's the video that was released on Friday afternoon, just before the final results RNS:

https://player.vimeo.com/video/537724300

and the rump placed this morning.

Well done., all concerned!

My overall impression of the interview is that UKOG remains a highly ambitious company: Turkey, Loxley, in-fill drills at HH, 2 stand-alone geothermal projects in the South of England being studied, Isle of Wight.

Imho, the current market cap of £32.4m bears no relation to SS's ambitions for the company.

"... what's available in the UK really doesn't offer us the step-change in growth we really aspire to, so I've always wanted to take the company international, ... Turkey was on the radar, ..."

From note 11. to the annual results:

Revenues from the sale of hydrocarbons produced as a by-product of testing and evaluation activities have been offset against the costs of the intangible asset. These totalled GBP1,755,000 in the year (2019: GBP2,411,000).

Add in revenue from the income statement of £908k and total revenue from the sale of oil was £2,663k in 19/20.

The total investment in HH, including, therefore, the advances, is heading for a substantial impairment, imho (see UKOG's final results RNS for their impairment and exploration write-off).

Penguins,

At this point the Company is still assessing the potential of the remaining assets and will continue to develop and evaluate these assets in the coming year. Since their acquisition dates there has been no further material changes to the Licence areas. The directors therefore consider that no further impairment is required at 30 September 2020, other than detailed above. (from Note 11. of the annual results)

It is a UKOG accounting policy to assess assets for impairment on at least an annual basis.

Penguins,

My figure provides an indication of the underlying loss, it, therefore, provides a base for projecting into the future.

After the impairment and write-off at HH in 19/20, nobody is suggesting there will be a similar impairment and write-off at HH in 20/21.