Member Info for ocelot

Brent back above $43

The purpose of the RNS was to inform, not to impress.

You're quite right, so I have.

If I had forgotten your response, it's probably because your posts are so unremittingly negative!

Penguins,

Why are you still a shareholder in UKOG?

Page 47 of the CPR.

Tax losses can only be used within the company (not the group), so it is only the Saltfleetby operating company, AEWB No.3 Limited, that matters.

Tax losses of £15.64m at 30/09/19, so, more than a year later, they will be higher now.

Following this morning's small increase in issued share capital, the market cap at 0.485p is £27.9m.

That is a pretty piddling amount by comparison to Alba's huge potential.

This morning's RNS confirms that Turkey is going ahead, that is what the placing suggested but did not confirm.

Just 1 of the 10 new anomalies is 4x larger than that over Clogau.

The 10 new anomalies were discovered exploring 9kms of the gold belt, 9kms out of 25-30kms.

Bureaucracy?

The really big potential lies in the Dolgellau gold belt - it'll be interesting to see the results of the trenching work.

From the website, Portfolio, Broadford Bridge:

The Kimmeridge oil potential appears to be regionally extensive with thick sections of high total organic carbon (“TOC”) shale with limestone beds; all of which are naturally fractured. To date, oil has also flowed from all three exploration wells that has tested the KL. At present, significant additional work is required to determine the development potential of these reservoirs.

better volume - 3.7m shares traded in the 1st hour.

The advantage of warrants is that the company has every incentive to get the share price up and to keep it up!

Agreed - the Bergen facility was no longer necessary given Alba's share price and the warrants remaining to be exercised.

For warrants outstanding at 30/11/19, see the bottom of page 49 of the last annual report:

https://www.albamineralresources.com/ul/2019%20Alba%20accounts%20FINAL%20version%20WEB.pdf

As you can see, there are layers of them, (0.30-0.32p, 0.40-0.42p) with a new layer at 0.55p having been added during the last placing.

It's the placing that cleared the way ahead - good!

There are many more warrants to be exercised, so this kind of RNS is likely to be a recurrent theme of the next very many weeks.

Alba has been held back by its lack of cash, so shareholders should welcome the injection of new cash.

Another £60k makes £2.15m raised through placings and warrants since 03/08.

And you're right:

51% of £12m = £6.12m

Tax saving at 40% on £15.64m of tax losses at 30/09/19: £6.256m.

They certainly help to explain why the proposed debt facility is only of a relatively short duration.