Member Info for ocelot

Volume was 152.3m shares on the day of the 1st placing RNS.

Don't follow it closely, but Bluejay's market cap has risen above £100m today.

"pretty exciting stuff".

For myself, they aren't wasting their time, identifying new quartz veins very quickly.

Having said that, it would be nice to see the trading continue at a more sustained level during the afternoon, too!

as suggested, that the market has livened up a bit.

The initial price decline appears to have brought out some buying interest.

Excellent phase 1 drilling results clearly justifies additional investment in dewatering and extending the main shaft at Llechfraith to provide the Company with the opportunity for further resource sampling during Phase 2 drilling. Early stage investors in ALBA have rewarded handsomely with the shares increasing over the past 12 months from 0.11p in February 2020 to close at 0.36p yesterday. Today’s news will also be well received by more recent investors wanting to test 52 week highs of 0.55p seen over the past three months.

93.5m shares traded so far v 69.3m for yesterday's whole session.

The identification of this significant projected lode structure below No 4 Level now
provides the Company with a significant zone for follow-up exploration drilling and
bulk sampling. The objective will be to access this zone directly from the Llechfraith
shaft, once dewatered. This will enable far more targeted exploration than has been
possible to date, initially by channel and bulk sampling from the newly dewatered No
4 Level and, in due course, by extending the existing Llechfraith Shaft from No 4 Level
down 60 metres or so and creating a number of sub-levels forking off from the shaft
extension (Figure 3)

Think PIs have become a bit blase, given the share price movement so far.

For myself, it's a genuinely exciting development to learn the company envisages deepening the existing shaft by 60 metres or so and creating a number of sub-levels.

The valuation of the field is highly sensitive to headline gas prices. In our Reserves Report the exchange’s forward curve prices were used resulting in an average gross price of 38 pence per therm. At target peak production rate of 10 million standard cubic feet a day an extra 1 pence/therm is equal to about £350,000 per annum of additional revenue from the gas field, of which 51% goes to Angus. Given Angus’ tax shield there is very little incremental cost associated with this improved revenue – essentially frictional supply discount, shipping and grid entry charges etc. (from an answer to an Investor Question asked 27/01/21)

10 minutes ago

· 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.

Very good news, that's where there was visible gold, quite apart from what appears to exist at deeper levels.

Should be an RNS quite soon (at the web conference of 26/11/20, AME spoke of having submitted the applications during the previous week).

... At this stage, whilst indications are positive, we await formal notification as to which licence or licences, if any, are awarded to AME/UKOG. Notification is expected within 60 days - results and terms will be released in due course. (RNS of 10/12/20)

"Within 60 days" takes us to 08/02.

It's a relatively small additional placing which, as you pointed out, Yanis, won't be brought to fruition until the AGM.

ANGS has the continuing support of a significant shareholder in its efforts to achieve its re-rating.

Frazer Lang, Executive Director, G.P. Jersey comments: "We regard Angus Energy as a significantly undervalued company ...

Hear, hear!

Bit confused, too. Thought it was a personal investment but sounds as if it's in the name of G. P. Jersey Limited.

Issue of the Further Placing Shares and the Further Placing Warrants are conditional on the Company having sufficient authority to issue the Ordinary Shares and associated warrants, such authorities will be sought at the upcoming Annual General Meeting ("AGM") of the Company which is anticipated to be held on or around 30 March 2021 and further details of the AGM will be provided in due course.

https://www.londonstockexchange.com/news-article/ANGS/further-equity-placing/14848580

George Lucan, CEO, Angus comments: "We are pleased to welcome into the recent placing Mr. Frazer Lang of G.P. Jersey Limited as a significant shareholder with valuable experience elsewhere in the onshore UK oil and gas sector. We appreciate his continuing support of the Company as it is engaged in detailed documentation on the proposed Saltfleetby loan facility."

Frazer Lang, Executive Director, G.P. Jersey comments: "We regard Angus Energy as a significantly undervalued company and look forward to the development of the Saltfleetby Gas Field, in particular, in the coming months."

Being negative on UKOG is a very crowded trade.

Crowded trades can give rise to brutal reversals.