Member Info for ocelot

Posted this on the UKOG board but also relevant to Alba:

Following the Supreme Court ruling, the Company is working closely with Surrey County Council ("SCC") to restore planning consent (for HH) via a new retrospective planning submission later in 2025 ... It is, however, fair to say that, from a subsurface and remaining untapped recoverable resource perspective, Horse Hill remains a strategic asset during our transition to clean power. On the expected resumption of its profitable production operations, the company will assess its future development opportunities so that it can contribute to the funding of our clean energy business. (interim results RNS of 30/09)

There is the possibility, therefore, of future revenues from HH and, also, of a write-back to the accounts of part of the impairment.

(interim results RNS of 30/09) NOT 0/09!

Following the Supreme Court ruling, the Company is working closely with Surrey County Council ("SCC") to restore planning consent (for HH) via a new retrospective planning submission later in 2025 ... It is, however, fair to say that, from a subsurface and remaining untapped recoverable resource perspective, Horse Hill remains a strategic asset during our transition to clean power. On the expected resumption of its profitable production operations, the company will assess its future development opportunities so that it can contribute to the funding of our clean energy business. (interim results RNS of 0/09)

There is the possibility, therefore, of future revenues from HH and, also, of a write-back to the accounts of part of the impairment.

Article on Bloomberg. Ray Dalio, founder of Bridgewater Associates, echoes comments made by Ken Griffin of Citadel.

1/ could be one or more TR-1s after the recent raises and volumes on the market;

2/ having published their last annual report, the AGM can be held.

Agreed, cash currently represents about half of the market cap after adjusting for admission of all new shares.

"500m macp incoming again like 2011"

It was in 2017 that the market cap rose above £300m.

Just as Centrica needs to know the revenue model for Rough, so prospective partners for UKOG will need to know the government's revenue model for long term hydrogen storage.

$3,942.90/£2,929.94

The big mistake SS made at the time of the Gatwick Gusher was not to go to the market, he could have raised 10s of £millions at the time.

The share price shot up, yes, but UKOG took no advantage of it to bring in new funds.

This time, quite rightly, he has seized the opportunity to replenish funds which were in dire need of a significant boost.

Approx £200m of gas in the field which may require the drilling of a new well amongst other initiatives.

New, almost exclusive focus on hydrogen storage with a cleaned-up balance sheet (including the possibility of write-backs from impairments);

new capital base including, apparently, some institutions;

new MOU with National Gas;

unchanged management which has achieved this transformation of the company's position and prospects.

One more comment on UKOG: it looks as if there could be some institutional interest in UKOG.

UKOG's hydrogen projects are for the long term so this could mean the market is beginning to change its appreciation of long term projects.

If that is the case, the implications for GROC could be positive.

Not making any recommendation of another stock on this board, pointing out that UKOG's dramatically improved finances should have positive implications for Alba because of their common interest in Horse Hill.

33.25bn (once admitted) at Friday's close of 0.033p = £11m.

UKOG's credibility has completely changed gear since its return from suspension.

With continued investor demand for its shares and what appears to be institutional interest, the next step may be the acquisition of a direct stake in its 100%-owned subsidiary, UKEn, by an industry player or a finance house.

Further £1m raised by UKOG this morning, meeting "continued investor demand" and making a total raise of £4.5m over 3 days.

UKOG now has the means to advance HH.

For a total raise over 3 days of £4.5m.

Market cap at the time of suspension was about £1.8m, this constitutes an astonishing turnaround in the company's position and prospects.

Following the further raise on Friday and on admission, total issued capital of 29.9bn shares will give a market cap at Friday's close, of 0.033p, of £9.9m, ie, effectively, £10m.

At its lowest, market cap declined below £1m.

UKOG is back on its feet and in the ring.

UKOG raised a further £500k yesterday to meet institutional demand, making a total raise of £3.5m over 2 days.

Their market cap at the time of suspension was about £1.8m, so they have raised in 2 days about the double of their pre-suspension market cap.

It does show how a period of suspension can help to transform a company's prospects.