Member Info for ocelot

Barchart's opinion has moved up to a 72% buy from a 56% buy yesterday and a 100% sell a month ago:

https://www.barchart.com/stocks/quotes/UKOG.LN/opinion

the RNS announcing the start of operations at Basur-3.

.

They are questions to which no clear answer can be provided.

On the positive side, and as SS has pointed out, the capital risk is less than that involved in the UK.

cyan2,

When you've obtained the answers to your questions, please inform the board of them.

The write down this year will therefore not impact upon any future success or revenues from our Turkish assets. (from SS's statement in the last Friday's RNS).

In other words, we've cleared the decks.

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. An equivalent production stream in Turkey will therefore pay back far quicker than in the UK. (RNS of 23/07/20)

Brent is now about $67.

5% and you can call a general meeting;

20% (say) and you may be able to exercise some serious influence.

Filtered.

Hence the application to dewater:

Dewatering of Llechfraith Shaft

The Company is awaiting the decision of Natural Resources Wales ("NRW") on its application for a water discharge permit to enable Alba to commence the dewatering exercise at the Llechfraith Shaft, another one of the key gold targets identified by Alba during the course of the Phase 1 surface drilling programme at Clogau (see our RNS of 12 March 2021). The Company is not able to give an indication at this stage of the likely timing of NRW's determination. (RNS of 12/04)

... Further soft commitments and expressions of strong interest advised mean that the Facility is oversubscribed and a short period of agreeing allocations will also be needed.

The Loan Facility terms remain substantially unchanged from those advised in our RNS of 30 November 2020. Angus is preparing charges to be registered and working to satisfy the conditions precedent set out in the Loan Facility Agreement in view of signing the Agreements and receiving the funds in the near term. (RNS of 29/03)

They seemed to have forgotten to mention in their tweet about the final results that they've written down £14.6mm of Assets. Ocelot was pleased with that because it cleared the decks ...
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Yes, it seems to me the accounts now reflect what is happening on the ground, the disappointing results (to date) of HH have been recognised, investors are being invited to focus on the future and, in particular, in the near future, on Turkey.

But all of the delays are known and in the share price so the potential for a recovery on good news is very considerable.

As of now, looks as if UKOG has taken in its stride last Friday's after-hours final results RNS.

... and, for the present, ANGS is still on schedule to benefit from next Winter's gas tariffs.

Once the debt facility is obtained, one may find that the delays involved in concluding it are quickly forgotten.

Hopefully, we shall find out quite soon!

When a placing is done, it is likely to be done at a discount to the prevailing share price not the 30-day average share price.

https://drillordrop.com/2021/04/16/horse-hill-is-a-talented-but-troublesome-teenager-says-ukog-as-it-goes-into-the-red/

Have Alba been waiting for the release of UKOG's results before publishing their own, for the year ending 30/11/20? (they were released on 31st March last year).

HH is the biggest investment in Alba's books but not all of that is the cost of investment, some of that (£2.6m at 30/09/20 per UKOG) consists of advances made by Alba.

The impairment in UKOG's results should mean there will be an impairment in Alba's, too, but the market is fully aware of the problems encountered at HH, so should not be surprised.

PS: these are, therefore, loans payable to non-controlling interests in UKOG's group accounts.

Any amounts due by HHDL to UKOG would simply be netted off in the group accounts, because HHDL is a subsidiary of UKOG.