Member Info for ocelot

Because of the gold price, the grades don't need to be of the highest quality ... but that would certainly help, of course.

"I hope you realise that that money they've just raised will almost all go on abandoning the wells they already have".

"... 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".

Mirasol,

How do you allocate £3.5m across UKOG's wells to arrive at your statement?

Shares with posts in the last week

Company Name No. of Posts

UK Oil & Gas (UKOG) 1,827

... The Saltfleetby field is volumetrically the largest onshore gas field in the United Kingdom (UK) and its largest potential subsurface porous rock storage reservoir.

Trafigura and Angus aim to “leverage their complementary capabilities and collaborate on an underground gas storage facility in the UK, for natural gas, CO2, or hydrogen”, Angus said in a recent announcement on the London Stock Exchange ...

https://www.rigzone.com/news/uks_angus_inks_mou_for_underground_gas_storage_with_trafigura-26-feb-2024-175859-article/

Another £500k in the bank, Mirasol, to satisfy institutional demand..

When the shares have been admitted, you will see the market cap jump to reflect them.

Agreed, that is a big one, at 0.01756p

Because the announcements have been made and the market has taken them into account - that is what the last 2 days have been all about.

"So with this latest dilution, by next week the company will have a total of 29.92B shares on the market. If the MCAP remains as it is today at 5.17M, that means that your shares will only be worth 0.0173. Can someone ask the doughnut rampers why they are happy with that?"

The current share price reflects the total £3.5m raise.

Multiply the current share price by the new total number of shares (29.9bn) and you have the adjusted market cap.

Beyond seafood, the UK will seek a deal that strengthens supply chains that could offer opportunities in critical minerals, where UK firms currently hold a third of mining licences in Greenland.

More impressive still, £3.0m has become £3.5m.

"If it had been decided to abandon the RTO, they would have informed us without delay.'

have you had that assurance from your Masters Ocelot?"

AIM disclosure rules, Mirasol.

UKOG has raised a further £500k thanks to institutional demand - HH isn't the reason for the demand but should prove to be a beneficiary of UKOG's improved finances.

Write-down of the historic oil assets, raise of £3m, it's, effectively, a UKOG Mark 2.

What is impressive is that they raised £3m overnight.

10bn new shares in relation to the existing 18.2bn was a raise of more than 50% of existing issued share capital.

Correcting my post of 16:11 yesterday, UKOG did make reference to its "ongoing petroleum sector commitments" in its "use of proceeds" chapter of yesterday's placing RNS.

Its principal commitment in the sector is HH.

"... Consequently, by funding both its planned hydrogen development activities and ongoing petroleum sector commitments this material placing will enable the Company to advance its energy transition over the coming year".

Nothing sold from HHDL whose sole asset is 65% of HH.

Did sell UKOG (GB) limited for £400k which held UKOG's minority stakes in Horndean and Avington (10% and 5% stakes, respectively).

UKOG's £3m placing overnight should again help with plans for HH, although HH did not figure among the "use of proceeds" of the RNS.

Onetomany,

If it had been decided to abandon the RTO, they would have informed us without delay.

These things can take time, there needs to be agreement on the valuation of the existing and incoming assets and we know from experience of debt facility negotiations that these, too, are time-consuming.

I had no reason to mention it, my post was in response to yours which was limited to the 32% loss suffered by holders this morning at the time.

They have raised £3m and are heading for a market cap of about £10m without any further price increase.

They have come out of suspension in far better shape than they entered it.