Member Info for ocelot

Agreed, ivans.

We can all see that the precise timing of the conclusion of funding is not within the company's control.

The fact remains that they have obtained offers totalling £20m.

In addition, Lidsey is being re-launched at quite a pace and the longer-term geothermal project is progressing, too.

PS: these boards are polarising so do not encourage the expression of a balanced discussion of the pros and cons of an investment.

Saltfleetby has taken longer than anybody anticipated and that includes, of course, the company itself.

But, yes, I remain optimistic about the company's prospects and, if anything, have become more so as time has gone by.

Would like to see funding concluded, of course, but the positive developments at Lidsey were unexpected and, re the geothermal, let's see if GL is able to announce the "very substantial funding partner" of his Malcy interview.

Crocqman,

I hear what you are saying, but judge less severely than yourself: believe the timelines provided by the company have been to the best of their knowledge at the time they have provided them.

Gallifreyan,

Rastuss is one poster I did filter fairly quickly. I did so when he spent his time in exchanges with MichaelG which they seemed to consider entertaining and I found boring.

The result is that, if he was to return to the board alone under another name, I might not recognise him!

Penguins,

When I used the word "initially", I meant from a 1st well.

I believe the partners' aim is to build up a portfolio of wells, hence the application for 3 new licences in the neighbourhood.

But, then, UKOG has no financial debt, so the PhD thesis hasn't even started in draft yet.

Don't agree - the funding will take the time it takes but I doubt very much it will take a long time from now.

Invested, yes. Came in after GL became the MD for a modest amount, have brought my average down since the Brockham RNS.

"Too much flannel and no action for me".
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Why, then, balancedviewer, do you remain invested?

Too much flannel and no action for me.
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Why, then, balancedviewer, do you remain invested?

ress2003,

I have put a number of persistently negative posters on filter, I have not yet done so for balancedviewer, who is a relative newcomer to the board.

So, if you are invested, then you want the company to succeed, don't you?

Supposing UKOG's 50%-share in Turkey was, initially, 200 bopd.

At $68.50, that is about $5m per annum.

It just goes to show how very quickly things could turn around if the partners encounter success in Turkey.

You say "we've missed", balancedviewer.

Does that mean you are invested in Angus?

With Brent at $68.50, the prospective operating margin in Turkey is ($68.50 - $15 =) $53.50, up 114% on the prospective margin back in July when the 1st RNS re Turkey was released.

The geothermal project is very much long-term thinking.

If they can build up the facility to 20 or 25 MW, then GL indicated we are talking about a very healthy cash-flow stream over 20 years.

The reliability of the energy source should contribute to a higher share price rating, the recurrent nature of the cash flow points to the payment of a dividend.

On the geothermal project, it's clear they've undertaken a lot of preparatory research, including, if I remember right, discussions with US sources as to the most appropriate drilling techniques to be employed.

Spoke of the hidden costs of solar and wind, because of the need to maintain alternative sources of energy on stand-by in case solar and wind-generated energy fail to meet requirements.

On solar, he said it's a pretty well-occupied space. Didn't rule it out completely, but sounds as if it would have to be a pretty exceptional deal for them to study it.

Solar and wind both run contrary to the company's desire to be engaged in "reliable" sources of energy, hence the interest in geothermal.

balancedviewer,

Why didn't you watch the webinar, if you are interested in the company and its prospects?