Member Info for ocelot

Was expecting to hear about Balcombe before the debt facility, got that wrong.

Re Saltfleetby, am expecting the project to accelerate quite quickly now and hoping the override means work on the sidetrack will start pretty promptly.

Volume has slowed down very appreciably, looks as if Loxley has become last week's story.

At 0.775p, market cap = £5.6m.

But we have potential total funding of 51% of (£12m + £8m =) £20m = £10.2m.

Looks as if equity should be at least the double of its present value.

Given the 8% override on gross revenue only kicks in after repayment of the facility, doesn't that encourage Angus to push ahead with the sidetrack as quickly as possible?

Warrants holders can purchase shares at a fixed price, the higher the price climbs, the bigger their potential gain.

I can see no reason whatsoever for warrant holders to "laugh at us" when the price declines.

only an idiot would buy today ahead of Augusts production numbers tomorrow.........
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Don't think expectations are very high re tomorrow's publication of August's figures, so anticipate impact on the share price to be negligible.

It's all very well posting negative messages, but, for those operating in the market, they do need to be related to the share price, which already reflects a tremendous amount of negativity.

Much too early to judge Turkey, they haven't even started to drill yet.

What we do know is that Turkey is highly unlikely to be subject to the same kind of bureaucratic delays as in the UK.

There are placings and placings.

Given that the next placing should be to finance Turkey, it could actually be a bullish signal, indicating that Turkey is about to go ahead.

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.

No first gas until the processing equipment has been procured and installed.

drawdown by the end of January but at any rate in the early first quarter 2021,

so a further delay, but not of substantial magnitude.

... we expect to conclude documentation and drawdown by the end of January but at any rate in the early first quarter 2021 following which we will be able to accelerate the procurement process as we head toward First Gas in H1.

ie. H1, not Q1

No, don't think so, she was a buyer at 0.19p on Thursday.

From the comments on Drill or Drop's article in my post of 13:16:

Rob
November 28, 2020 at 9:47 am
Do any of you think this won’t be turned over on appeal by the planning inspectorate? Before replying think about the reasons this application was rejected – MC12 (landscaping) & MC15 (transport). NOTHING ELSE WILL BE TAKEN INTO CONSIDERATION.

This is down to landscaping and transport on appeal. Cold hard analysis by the planning inspectorate who routinely overturn decisions by councils on mineral extraction based on evidential reasoning from key agencies (no concerns) and the application itself (which said approve). Not a single appeal raised with the planning inspectorate on onshore gas extraction has been denied when the planning application (written by the country council planning department) said permit, prove me wrong, there are hundreds of case examples.

What councillors achieved yesterday was delaying Loxley by 6-10 months… Cheers all round?
Consider this – If on appeal this application is approved, UKOG will be awarded costs which will likely cost Surrey residents £250k+.
Still don’t care? Did anyone consider that the planning inspectorate also review the conditions of the application, they could find that many of the conditions may be unnecessary or restrictive compared to NATIONAL not LOCAL gas sites. You may find HGV’s rocking up on weekends for example… Better the devil you know.

What will be interesting is if SCC (officers not councillors) even contest the appeal.

If you truly want UKOG to fail in the UK you need to change national planning policy & framework.
You may not like my post, but it doesn’t mean I’m not right.

Will the Council even contest the appeal?

If you scroll down to the comments, I like Rob's post of 9.47am on 28/11:

https://drillordrop.com/2020/11/27/reaction-to-second-refusal-of-dunsfold-drilling-plans-ukog-likely-to-appea/

Friday's meeting was depressing, but the result is negative without being dramatically so.

The councillors went against the advice of Council staff. There will be an appeal which UKOG will win.

There will be a delay, but Loxley wasn't planned until H2 of next year, so even the delay may not be particularly significant.

Think the next placing may be a bullish signal, that Turkey is about to go-ahead.

For long-term investors in UKOG accustomed to the bureaucratic delays of the UK onshore exploration regime, think Turkey will come as a welcome change.

We await, any day now, news of a £12m debt facility to help ANGS and its partner finance Saltfleetby.

We also await, any day now, news of the WSCC planning officer's recommendation re the ewt at Balcombe.

-- Rapid success case monetisation possible - months versus years in UK:
E. Sadak was discovered and put into production in the same year, 2014, and has seen a total of 10 wells drilled to date. Unlike UK, which requires numerous planning and regulatory steps before production can commence, Turkish petroleum law Article 6 (10) states that licensees are obliged to develop the field and commence production following a discovery. E. Sadak thus demonstrates that licensees are able to transition a successful well test directly into long-term production with minimal delay... (from the RNS of 14/10)