Member Info for ocelot

"Say whatever you want, IT IS TECHNICALLY A DEFAULT FACT............................"

In Bubblepointese, perhaps, but not in English.

Updated Drill or Drop article re, in particular, Broadford Bridge:

https://drillordrop.com/2025/09/02/ukog-funding-resolutions-passed/

It's NOT a technical default, Bubblepoint:

"AI Overview

A technical default is a violation of non-financial terms in a loan or debt agreement, such as failing to maintain certain financial ratios, rather than a missed payment on principal or interest ..."

"The only confimation here is that all those posts saying Angus is in default are in all likelihood WRONG".

"In all likelihood" is an understatement, Stockraiser, they are most definitely wrong because only the lender, Trafigura, is in a position to declare a default, not some anonymous bulletin board poster.

Imtiazlaheri1,

Please filter me. Thank you.

Gold price could surge to $5,000, if Fed's credibility is damaged and investors shift just a small portion of Treasury holdings into gold (Goldman Sachs, as reported by Bloomberg).

Over to you, Mr Trump.

Article on Bloomberg

... in the next decade, if the adoption of renewables and flexible technologies slows.

What we need is for it to be written on the wall at Level 5: "X marks the spot for blasting".

Roadhouse,

Thank you for forwarding the message you received from the Chairman.

My own figure of "say, c£200m" made it clear it was a rough, round figure estimation.

"It is not for you to "assume" an asset value, ..."

Bubblepoint,

From Angus's website (Operations/Saltfleetby):

It is interesting to note that at gas prices prevailing in 2024 of 110p/therm, the gas reserves in Saltfleetby field have a market valuation of close to £267 million.

It is not for an anonymous bulletin board poster to declare ANGS in default, only the lender, Trafigura, can do this.

ANGS is in breach of the conditions of its £20m debt facility but has done this with the understanding of Trafigura.

The most recent Saltfleetby production figures indicate they are picking up, the historic low hedges expired on 30/06.

Everybody seems to agree that Saltfleetby's reserves are there and remain substantial making Saltfleetby a potentially valuable asset (of, say, c£200m).

Clearly the owners of the producing assets in the Gulf of Mexico/America see potential in Angus which the naysayers do not.

And currently £2,645.04 in GBP.

Https://drillordrop.com/2025/09/02/ukog-funding-resolutions-passed/

... The industry regulator, the North Sea Transition Authority, has given UKOG more time to plug and abandon the Broadford Bridge wells – until 31 March 2026.

But separately West Sussex County Council served two breach of condition notices on 6 May 2025. These require the operator to remove all the equipment, plug and abandon the wells and restore the site by 6 February 2026 ...

89.5% for Resolution 1, 86% for Resolution 2 - comfortable margins for both resolutions:

https://www.ukogplc.com/ul/UKOG_votes_GM_2nd_September.pdf

Good initiative, well done!

The next steps should be the publication of the annual and interim accounts, the calling of the AGM and the restoration of trading in the stock.

Everybody appears to agree that the gold is there, we just need to locate it in reasonable quantity:

spot price in USD: 3,482.00 ; in GBP: 2,599.54

I scanned the production figures posted, saw that they obviously exceeded the 30-day rolling average of 0.1288 and calculated their average of 0.1334.

Having calculated the figure for myself, I then posted it for others.

Trish,

The news will come later, either the GM resolutions are passed or they are not.

They need to be passed to provide the auditors with some comfort concerning UKOG's continued ability to raise funds when required.