Member Info for ocelot

To date, 2020 has been a dreadful year for shareholders in UKOG.

Can shareholders do better in 2021?

Yes we can!

A placing is positive when enough is known about what it is being spent on ...
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Think a placing is positive when it opens up new prospects.

We're approaching the season for stock recommendations for the new year.

Given the current timetable for Saltfleetby, ANGS would appear to be a suitable candidate.

Think a placing for Turkey could be well-received by the market, because it would signal that Turkey is pushing ahead.

There are placings and placings, far from all carry negative implications.

Adrian's posts tell us far more about Adrian than about UKOG.

Why can't he make his points without resorting to such totally immoderate language?

You're not alone in worrying for him, Mirasol, so many of his posts are defamatory.

Hear, hear!

Think GL is more driven than may appear and is working hard to make a success of this.

Think his work, and that of his colleagues, will be recognised by the stock market (don't know when, but could begin any time now).

The stock market is the stock market, perceptions can change very quickly.

Instead of throwing up their arms in despair, it sounds as if ANGS are trying to find commercial solutions (from their website, my capitals):

... The technology is a close fit to our oil and gas experience and offers the possibility of safe, sustainable, base load, electricity generation. THIS EXCITING NEW TECHNOLOGY IS ABOUT TO BECOME MAINSTREAM AND ANGUS SEES A ROLE IN PROMOTING THIS.

We are already in discussions with academic researchers and have engaged industry specialists in the geothermal energy field...

https://www.angusenergy.co.uk/transition-esg/geothermal-energy/

I read the RNS to mean that ANGS isn't just talking about the geothermal project, it is making serious efforts to advance it.

I had thought that Saltfleetby was absorbing most of their attention.

Personally, am favourably impressed that they have also been working on a 2nd major project and that this project is in a greener source of energy.

Think the market has some catching up to do.

wonder what the projections look like for the off-site geothermal project, given they are seeking £8m of committed funding.

"capital" would have been more appropriate than "funding".

51% of £12m = £6.12m + £8m = £14.12m = 1.95p per share.

If one assumes that, as a rule of thumb, funding should be split 50:50 between equity and debt, then the RNS of 30/11 suggests a share price of 1.95p.

GL has radically changed Angus's focus and is setting it up for the energy industry of the future.

They do still have their oil assets, the most important of which has become Balcombe, but there is no doubt these can now be thought of as "legacy" assets.

Unlike HeadinTheSand, it takes me time to register all that is contained in a lengthy RNS such as that of 30/11.

When I first read it, I was looking, above all, for information about the £12m debt facility.

A further reading meant I focused on Aleph.

It was only on this morning's reading I finally realised the off-site geothermal project is actually bigger for Angus (100% of £8m) than Saltfleetby (51% of £12m = £6.12m).

HeadinTheSand,

Can I suggest you filter me?

And from the website:

More generally, Angus are considering using their geological, drilling and engineering skills to develop one other major geothermal energy project on another brownfield site. The technology is a close fit to our oil and gas experience and offers the possibility of safe, sustainable, base load, electricity generation. This exciting new technology is about to become mainstream and Angus sees a role in promoting this.

https://www.angusenergy.co.uk/transition-esg/geothermal-energy/

Under the MOU, upon presentation of a suitable approved geothermal programme for a new off-site project before the end of January 2021, which Angus has been developing throughout the present year, as further detailed below, Aleph Energy and Aleph Commodities will together seek to procure, on a best efforts basis, up to a further GBP8 million of committed funding for that programme.

This is actually bigger than Saltfleetby for Angus, because Angus's share of the £12m debt facility is £6.12m whereas the off-site project's £8m is 100% Angus.

Angus is changing before our eyes. From the RNS of 30/11, my capitals:

Further Geothermal Project

Away from Saltfleetby, a further potential LARGE SCALE geothermal project is under study. The proposed scheme, located in an area of high geothermal gradient, would be designed to achieve SIGNIFICANT COMMERCIAL POWER GENERATION. Current projects in the area have de-risked some aspects of this technology and this project would seek to build on that experience to SCALE UP TO A FULL POWER GENERATION PROJECT.

Current work is evaluating possible locations including preliminary discussions with land owners coupled with technical work on well design, surface facilities and infrastructure including initial contacts with the electricity grid connection provider. At the same time the regulatory and planning framework is being reviewed and INITIAL SUBMISSIONS ARE IN PREPARATION. Deeper geothermal energy will become increasingly important as a stable provider of electricity balancing the output from other green energy sources that are subject to the vagaries of wind and weather. ANGUS SEES A LARGE NEW MARKET OPENING FOR THESE PROJECTS AND WISHES TO BE AN EARLY ENTRANT TO THE FIELD.