Member Info for ocelot

"The breaking of ground at the new Basur-3 drilling site makes this material appraisal project very real and tangible. The speed of entry into the operational phase, barely two months after government ratification of our entry into Turkey and despite pandemic constraints, nicely demonstrates the ability to move projects forwards at pace in Turkey, ...".

Now that Turkey has begun, it looks as if operations could advance really quite quickly. (RNS of 23/03)

trade 103 looks like a delayed 3m buy.

... so buy a substantial stake in the company and try to influence the company's actions.

You will need a coherent alternative strategy and a slate of candidates to replace the current board.

Would demand a lot of shareholders to finance Saltfleetby exclusively out of equity.

With its CPR and given the nature of the business, it's always been a candidate for debt finance.

When the debt facility is finalised, a considerable potential weight will be lifted off shareholders' shoulders.

Final results for 19/20 will show management remuneration in that year - should be published by (and, probably, on) 31/03.

How many share options remain in the money with the share price at its current level?

Gallifreyan,

Invested for a reason. Since then, there are new reasons for remaining invested.

There's nothing anybody can do to speed up the finalisation of the debt facility: if there was, the company would have done it.

Primula,

The operator in Turkey is AME, not UKOG.

Number of tankers? In the absence of the Eyes, no we don't.

Following your example, TollesburyStu.

$64.22 - presumably, this is at least in part the big container vessel blocking the Suez canal.

nookie,

How do you use warrants to keep a share price down?

If you've got warrants, you want the share price to go up so that you can exercise them.

Ibug, this is what they wrote in their HH update RNS of 15/01. Obviously, that won't reflect any adverse developments since then:

Further significant operating cost reductions

In line with the challenging oil price environment, significant further efforts have also been made in managing and reducing operational costs. From January 2020 to January 2021 our total operating costs have reduced by 66%. The savings will help place Horse Hill in a good position to take advantage of the strengthening Brent crude prices seen in the past month.

It may not be evident from the share price performance, but this quarter has actually been quite a positive one.

We now await the final results RNS for 19/20 which is likely to be released on 31/03, next Wednesday.

Turkey is underway.
It is reasonable to assume Loxley will receive the go-ahead this Autumn.
There is a plan for HH.
It is beginning to fall into place.
Additional funds will be required, but we have little idea of UKOG's current cash position, because we know little more than that they have cut back very significantly on HH operating costs.

Could just be a little bit of buying ahead of the conclusion of the debt facility: the share price has come off quite a bit in the recent past and there's nothing to suggest the financing arrangements are not on track.

Given Turkey, the next placing should prove to be value-enhancing.

... Based upon the earlier than expected inquiry date and the inspectorate's average post-inquiry decision timescales, the inspector's ruling is likely to be issued in autumn 2021. (RNS of 04/03).

The outcome should have a positive effect on the share price although, by the time it is delivered, the share will probably have risen in anticipation of a favourable decision (the councillors don't appear to have a leg to stand on).

With thanks to Mullins58 on another board:

More oil and gas wells are to be drilled in the North Sea, the UK government has announced.

The decision has angered environmental campaigners, who say the government should refuse new licences.

Ministers say permission to drill will be granted as part of a careful transition away from fossil fuels, safeguarding jobs and the economy...

https://www.bbc.co.uk/news/science-environment-56503588

Friday, April 2nd is Good Friday, a bank holiday, the first day of a 4-day weekend.

Notice of 2021 AGM:

https://www.angusenergy.co.uk/wp-content/uploads/2021/03/AGM-Notice-2021-Final.pdf