Member Info for ocelot

As DoneK posted, it may have been weighing on the share price during the last few sessions.

... As per the Company's release of 9th February 2020, UKOG's wholly owned Loxley project, located in licence PEDL234, centres upon appraising the second largest undeveloped gas accumulation discovered and flow tested in the UK onshore. If successful, the Company plans to use the gas as a feedstock for reformulation into clean burning hydrogen with the energy capacity to power around 200,000 homes per year. (RNS of 04/03).

Wonder if UKOG's range of funding options might increase once the government's new infrastructure bank is up and running.

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that its appeal against Surrey County Council's ("SCC") refusal of planning consent for the Loxley gas project will now be heard at a public inquiry to commence on Tuesday 27(th) July 2021.

The Planning Inspectorate's formal appeal process has an effective start date of March 1(st) and culminates with the public inquiry, scheduled for up to nine days. 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)

Less than 3% so there's no way of knowing for the present.

Seems to have been absorbed by the market, which is encouraging!

PS: with the exception of Oktane's, which I have just read.

big sell of 24.612m at 0.75p at 11:08:41.

This may have been commented on already, but I have nothing but filtered messages these last few hours.

Reminder that the options issued on 04/02 only vest when the share price attains 2p:

The share options have an exercise price of 1.5 pence per share (being a premium of 40% to the closing price on 3 February 2021) (the "Exercise Price") and vest as to 100 per cent., upon the share price being 2 pence or greater (being 33 per cent. above the Exercise Price).

Think they remain in the lower quartile of AIM company directors' remuneration.

The accusation made by some that Angus is a "lifestyle" company is far-removed from the reality.

... and they are still not high!

Before the reported rises, directors' remuneration levels were remarkably low.

Llechfraith Dewatering
o Application submitted for bespoke water discharge permit to allow lower workings in the Llechfraith Shaft to be dewatered in order to undertake underground drilling and bulk sampling directly from that zone.

Extract from the RNS of 02/02.

That is a potentially very exciting development, because that is where visible gold was reported.

Alba have been genuinely excited about Clogau and the Dolgellau gold field since at least their discovery of the 10 new anomalies.

It took the market quite some time to take on board their excitement.

Since then, nothing has happened to diminish their excitement. On the contrary, things have gone even better than expected.

(B) imho.

Where there is room for discussion is the exact date.

The 19/20 final results RNS is likely to be released by 31/03 at the latest.

Agreed.

First gas carries major implications for the balance sheet quite apart from the income and cash flow statements.

Group accumulated loss at 30/09/20: £12,047k

Group tax losses increased by 1,146k in 19/20. If we say most of that concerned AEWB No.3 Limited and attribute £1m of those losses to that subsidiary, then AEWB No.3 Limited's tax losses at 30/09/20 were £16.64m.

When the deferred tax of (40% of £16.64m =) £6.656m can be recognised in full, the group's accumulated losses will reduce by 55%.

Market cap at 0.775p: £7.1m

Debt funding offers received: £20m

There is a very significant disconnect.

Given the time the funding has taken, we know the debt lenders have taken a very close look at Saltfleetby. We also know the funding remains on track.

new question asked about a Balcombe appeal:

Balcombe planning permission was unanimously refused by WSSC. Are Angus planning to appeal the decision as the Planning officer had given his approval after a new revised application had been Submitted. Angus has spent a fortune on this site and investors deserved better than this outcome!
Asked on 8 March 2021

Just to spell out the implications of a deferred tax asset:

it means accumulated losses are reduced, because a part of those losses are treated as an asset given that they are considered to reduce future tax liabilities.

Deferred tax assets are recognised only to the extent that recovery is probable.

First gas should mean deferred tax assets can be recognised. At 30/09/19, AEWB No.3 Limited's tax losses were £15.64m so, if fully recognised, those losses would give rise to a deferred tax asset at 40% of £6.256m.