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... crude demand in Asia is almost back to pre-virus levels, Saudi Aramco Chief Executive Officer Amin Nasser said Sunday. (from Bloomberg's oil market update)

No desperation whatsoever, simple statement of fact.

PS: the tax losses are particularly valuable for companies such as UKOG, because of the high total tax rate to which they are subject, 40%.

The tax losses aren't transferable, so the company in which they are located needs to be preserved and any future taxable profits need to flow through it, to make use of the losses.

... The arrival of Saudi crude off the U.S. coast has slowed to a trickle from the flood seen in May and June ...

By once again focusing its output cuts on the U.S. market, Riyadh is hoping to repeat the success of the second half of 2017, when oil prices rose by 51% from a low of $44.82 in mid-June to $67.87 by the end of the year.

Unless the Covid-19 pandemic eases its grip on oil demand, Saudi Arabia may find 2020 more of a challenge.

https://www.bloomberg.com/opinion/articles/2020-08-09/coronavirus-glut-saudi-arabia-turns-off-the-u-s-oil-taps-again?srnd=premium&sref=Em01M8Hr

Don't know, can't help on that one, but not a fortune, I would have thought.

Accumulated losses in the annual report at 30/09/19: £59.153m.

If we assume these accumulated losses are equal to tax losses, then, at UKOG's total tax rate of 40%, these tax losses are worth £23.66m. slightly more than UKOG's current market cap.

The company needs to make taxable profits in order to make use of these tax losses, but they do provide an indication of UKOG's current undervaluation by the market.

SS spoke of this Summer, so soon, I imagine.

Reminder:
the part of the Saltfleetby CPR which already exists is the tax losses in the 100%-owned operating subsidiary, AEWB No.3 Limited, of £15.64m at 30/09/19, worth, at ANGS's total tax rate of 40%, £6.256m (see p47 of the CPR).
These tax losses are not yet on ANGS's balance sheet, so not included in its net assets at 31/03/20 of £11.116m.
They will only come onto the balance sheet when the company and its auditors are convinced they can be offset against forecast taxable profits.

From page 5 of the recent presentation:

Contrast rapid progress under Alba ownership:
? Mine extensively
rehabilitated
? Multiple in-mine
targets identified
? 9km of regional gold
targets
? Clogau in fact comprises two interlinked projects:
? Clogau Gold Mine - work to restart commercial production from the
historic mine site
? Dolgellau Gold Exploration Project – work to prove up a major new
regional gold discovery remote from the historic mine site

https://www.albamineralresources.com/ul/Alba%20Presentation%20-%20UK%20GOLD%20ASSETS%20(AUG%202020)%20FINAL.pdf

We can all see that UKOG is trading at an historically low level and how that has come about.

Does it possess the potential to rise from this level?

If you answer "no", then the solution is to sell.

If you answer "yes", then you remain invested or buy.

The Company will exercise its right to postpone by 60 days the closing of the next tranche of funding under the financing arrangement entered into with U.S. based institutional fund, Bergen Global Opportunity Fund, LP (see the Company's announcement of 24 February 2020), such that the next tranche will not now close until the end of October 2020.

Think it may have been granted a bit quicker than expected, seem to remember GL hoping it would be granted by the end of August.

86.4m now v 71.0m for yesterday's full session (per advfn)

The seismic and the 1st well are capped at $5m, the hope is the following wells will be self-financing, so where does £6m come from?

The price of gold has helped them make their recent placing, enabling them to push ahead with their plans.

p17: "... with gold mineralisation now confirmed across ~9 km ..."

"Huge" does appear to be the appropriate word!

p17 of gold presentation entitled: "Huge regional gold potential":

"average grades for 10 new anomalies exceed those for known mines"

p19: Indicative Timetable to Production

New investor presentations on their site under Investor Relations, Corporate Documents:

https://www.albamineralresources.com/ul/Alba%20Presentation%20-%20UK%20GOLD%20ASSETS%20(AUG%202020)%20FINAL.pdf

https://www.albamineralresources.com/ul/Alba%20Presentation%20-%20Greenland%20(AUG%202020)%20FINAL.pdf

As of now, don't believe Saltfleetby or Balcombe are in the share price at all, but Brockham is definitely out of it.