Member Info for ocelot

Balcombe: the ewt submission will be lodged with WSCC no later than tomorrow, Thursday 20th August.

Saltfleetby: horizontal directional drilling and trenching scheduled to start 07/09.

Angus is heading into some very active weeks and months.

We've now exceeded yesterday's total volume on AIM, 126.0m shares traded so far.

Good volume on NEX, too.

Agreed.

This board is that of Angus, not of any individual poster, no matter how bullish or bearish he/she may be.

Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, announces that it has received a notice of exercise from Bergen Global Opportunity Fund, LP (the "Investor") in respect of the convertible security previously issued (as announced on 3 March 2020) pursuant to the convertible securities issuance deed ("the Deed") the terms of which were announced on 24 February 2020. This represents the final conversion into shares under that previously issued convertible security.

Under the Deed, as a result of this notice of exercise 139,166,667 ordinary shares (the "Conversion Shares") fall to be issued at a conversion price of 0.06p in accordance with the terms of the Deed.

Nothing spectacular in terms of the price, but the share continues to turn over: 52.3m per advfn.

An awful lot of people would be out of jobs if they were Premier League managers!

showing the wave movement between Summer and Winter prices:

https://www.erce.energy/graph/uk-natural-gas-futures-curve

Think they abandoned their legal efforts back in May, hence Plan B, actively to deramp the share on this board.

are there any updates regarding oil production restarting at Brockham/Lidsey, with water injection approval from the relevant authorities?

"On the basis of third party quotations to date, our estimates for overall decommissioning liability appear to have been very conservative...
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Think GL tends to be somewhat conservative in his estimates/forecasts.

During the investor conference call of 05/05, we learnt that the 1st 2 sites had been abandoned for a total of "just under" £80k. I had imagined that meant something like £79,500. We learnt yesterday it meant c£70k.

16 days after the last one?

No.

Angus' exposure for this decommissioning liability is only 51% following first gas. This accelerated programme would therefore expose Angus to 100% of the cost but we have now agreed in principle cost recovery from future revenues of all partners in the Field."

Apart from a substantial cost saving, the implication seems to be that Angus are pretty comfortable with their cash resources.

Specifically the Company has obtained firm quotation for the abandonment of Wells 6 and 7 for an aggregate total of GBP335,000 ex VAT. Together with the GBP70,000 of costs of abandoning Wells 1 and 3, already successfully completed, the total cost of decommissioning four of the field's eight wells will be less than GBP405,000 as against an original gross estimate of GBP1.75 million for decommissioning all eight wells (excluding GBP0.75m of site restoration costs) of which Angus share is 51%.

George Lucan, Managing Director, comments "On the basis of third party quotations to date, our estimates for overall decommissioning liability appear to have been very conservative. We will complete a full review and costing of the remaining four wells but at present it seems likely that overall decommissioning liability will be substantially smaller than originally anticipated.

Angus' exposure for this decommissioning liability is only 51% following first gas. This accelerated programme would therefore expose Angus to 100% of the cost but we have now agreed in principle cost recovery from future revenues of all partners in the Field."

The buyer's done very well to accumulate a near-20% stake for such a low average price.

Whatever his ultimate intention (investment, bid for control), he's established a very good base on which to build, should he choose to do so.

Or under-appreciated by the market?

Approaching 4 weeks since the RNS, hopefully receive confirmation of the submission of the standard documentation to the Turkish government soon:

The assignment of the 50% interest from AME to UKOG is subject to Turkish governmental approval, which is expected to take around 2 months from submittal of the necessary standard documentation. It is expected that these documents will be submitted over the next few weeks whilst the formal agreements between UKOG and AME are finalised.

Normal for the share price to pause a little, especially after Rupert Labrum's unexpected exit.

Doesn't call into question the underlying trend upwards.

none so far

They won't have access to any more information than the rest of us, SS runs a tight ship.