Member Info for ocelot

Justin Waite! (no TH at the beginning).

GF gave an interview yesterday, on a Justin Thwaite podcast.

We await news of HH-1 and, at some point, of HH-2z.
Nothing can happen about Loxley until SCC publishes its decision, which should set in motion the preparation of UKOG's grounds for appeal of the decision.
It's about 7 1/2 weeks since UKOG finalised its agreement with AME, so there could be an update re Turkey soon.

Funny that neither Hydrogen nor Geo Thermal was mentioned when they aquired Poundland, nor in the presentations, nor in the CPR ...
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Saltfleetby was already a major new initiative for ANGS, think it is unreasonable to expect the new management to do everything at once.

It means Angus could just be at the beginning of a very interesting journey.

"Angus is a strategic platform for the future of energy production: via natural gas and geothermal energy, and with plans for hydrogen and carbon capture solutions. The partners at Aleph believe Angus, under the innovative management team led by George Lucan, is the blueprint for the ideal modern energy company and a beacon for the Energy Transition. (Jason Joannou (Founding Partner at Aleph Commodities) from the RNS of 30/11/20).

What if Jason Joannou's assessment proves to be right?

There's an accounting deadline re HH-2z, that of the publication of the annual report, 31/03/21.

If we don't learn more about HH-2z before, we will then.

UKOG's accounting policies require assets to be reviewed for impairment at least annually.

In its present state, it is not commercial and will require impairment.

The information about Turkey is pretty vague apart from OIP calculated on an unknown map and parameters, and approximate recoverable resource, plus a load of irrelevant BS.
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Given all of the regulatory hurdles in the UK, it makes financial sense to become less reliant upon the UK.

Low costs, rapid monetisation, Turkey's attractions are obvious.

Let's see how their campaign proceeds and judge on the results.

For those who can get behind the wall, an opinion piece on hydrogen from Bloomberg this morning:

https://www.bloomberg.com/graphics/2020-opinion-hydrogen-green-energy-revolution-challenges-risks-advantages/oil.html?srnd=premium-europe&sref=Em01M8Hr

OPEC+ agreed to ease oil-output cuts next year after almost a week of fraught negotiations that exposed a new rift at the heart of the cartel.

The group will add 500,000 barrels a day of production to the market in January, and ministers will then hold monthly consultations to decide on the next steps...

The revised accord is likely to keep the oil market in deficit throughout the first quarter, according to Bloomberg calculations using OPEC data, meaning bloated inventories will continue to drain. If the group had gone ahead with the full supply hike that was set out in the original deal struck earlier this year, the cartel’s economists had calculated that the market would have flipped into surplus, potentially undermining the recent rally...

https://www.bloomberg.com/news/articles/2020-12-03/opec-agrees-on-gradual-easing-of-oil-output-cuts-from-january?sref=Em01M8Hr

not 0.40p

From the initial RNS of 16/07/18, confirmed in the RNS of 24/08/18:

-- Alba to acquire 41% of the Clogau Gold Project, taking its total ownership of the Project to 90%.

-- The remaining 10% of the Project will be free carried to commercial production, but will be subject to a put and call option effective from the grant of planning permission enabling Alba to move to 100% ownership in the future if so desired.

For myself, cash generation in itself will lead to a re-rating of UKOG, even if this cash is initially re-employed in the Turkish campaign.
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Let me correct myself.

I wrote "... even if this cash is initially re-employed in the Turkish campaign".

But, obviously, that is wrong: in those circumstances, there would be every reason to re-employ the cash in the Turkish campaign.

Some posters seem to think that Turkish success will lead to cashflow to enable more expenditure in the UK, yet if successful any 'profits' will likely be spent drilling more wells and even UKOG say:-

'Whilst the Company believes that at current oil prices a successful initial programme can likely self-fund further production drilling, it may be necessary at some stage for the Company to raise future working capital to bring the project to fruition.'
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For myself, cash generation in itself will lead to a re-rating of UKOG, even if this cash is initially re-employed in the Turkish campaign.

Local planning and The Crown Estate both seem to be pretty helpful.

GF speaks of permitted development in today's interview and of putting in a notification re the infill drilling.

GF speaks of permitted development in today's interview and of putting in a notification re the infill drilling.

Think they claimed to be about 20 at one time, but no way of verifying, of course.

https://www.**********.co.uk/media/5fc8e3c6bc74c922485f4fe4/?context=/series/daily-podcast/

about 13:14-20:52

At about 17:03-17:22: "we actually hit gold, ... we weren't expecting decent grades of gold ... very, very promising, indeed"

Please can you confirm that you continue to have not received any notice of formal action from the so-called shareholder action group? Asked on 30 August 2020
Yes. This can be confirmed and even no informal correspondence.