Member Info for ocelot

per advfn

per advfn.

It's just the direction of the share price which is a problem.

This morning's RNS does show that SS maintains a tight ship - if there had been leaks, the present fall would have been less pronounced!

Can you comment on other George Lucan’s other Board positions on listed entities and any conflicts of interest? Asked on 31 May 2020

George Lucan (MD Angus) was appointed to the Board of Challenger Acquisition Limited during the first half of 2019. Challenger is a Guernsey based shell company, listed on the LSE, formerly engaged in the development of urban entertainment projects, similar to the London Eye, in major international cities. Challenger is presently looking for so called Reverse Take Over candidates to bring in new lines of business. All potential conflicts were disclosed to both Boards and Angus’ Nomad at appointment. The position is non-executive involving occasional reviews of potential candidates and is not presently considered to detract from his duties at Angus to which he is, and expects to continue to be, fully committed.

Would have liked them to have mentioned the Kimmeridge in this morning's RNS, because Angus's revised Balcombe application should be going in soon, which should lead to renewed interest in the Kimmeridge.

George Lucan
Managing Director

George Lucan is an experienced finance professional with over thirty years’ behind him in debt and equity markets. After graduating from Cambridge University, he began his career at Dresdner Kleinwort Benson where he spent 10 years, mainly within the Structured Finance team, and continued in alternative fund management. He brings, in addition, private equity experience in the fields of energy and alternative energy.

http://www.angusenergy.co.uk/management/

Post-period, the Company also plans a significant intervention in HH-1 specifically designed to further improve flow into the wellbore. Together with a full reperforation of the entire Portland section using a different type of perforating gun than prior operations, a new , simpler production tubing completion will be installed. The new completion will permit the downhole pump to be installed below the Portland interval to significantly improve pump efficiency.

Difficult not to agree with you this morning, highroller.

The latest update re UKOG's HH -2z well is disappointing.

Angus's approach has been more modest and, as you say, is consequently on a sounder financial footing.

Perhaps it's just as well yesterday's decision went the way it did, investors would not have been happy to have bought in yesterday afternoon only to be confronted with this morning's news about HH-2z.

Update re HH -2z:

... It is now clear from the image logs recorded in the well, that both the oil and water flow originated from a series of extensive natural fractures, primarily at the toe of the well, although there are also further natural fractures observed higher up in the well. The plug was initially successful in returning flow to the reported high oil cut, however water cut built up, necessitating the well to be produced intermittently as the water disposal costs outweighed oil revenues.

The HH-2z well is currently shut in for a long duration pressure build up test to re-assess its connected oil volume. Consequently, the company has sought an extension to the current test permission in order to ensure that sufficient data is available to enable the correct forward decisions to be made.

We are reviewing a number of options for the future use of HH-2z, including stimulation to return it into long-term oil production, sidetracking the well to a different subsurface location and possibly converting it into a future water re-injection well to further reduce future operating costs (as foreseen in the Horse Hill field development plan presented to the OGA earlier this year).

... It is now clear from the image logs recorded in the well, that both the oil and water flow originated from a series of extensive natural fractures, primarily at the toe of the well, although there are also further natural fractures observed higher up in the well. The plug was initially successful in returning flow to the reported high oil cut, however water cut built up, necessitating the well to be produced intermittently as the water disposal costs outweighed oil revenues.

The HH-2z well is currently shut in for a long duration pressure build up test to re-assess its connected oil volume. Consequently, the company has sought an extension to the current test permission in order to ensure that sufficient data is available to enable the correct forward decisions to be made.

We are reviewing a number of options for the future use of HH-2z, including stimulation to return it into long-term oil production, sidetracking the well to a different subsurface location and possibly converting it into a future water re-injection well to further reduce future operating costs (as foreseen in the Horse Hill field development plan presented to the OGA earlier this year).

Interim results

If punters piled into UKOG ahead of the Loxley decision, then I'm quite happy to see them pile out again.

For myself, the recent rise in UKOG's share price has been far more about the beginning of the correction of a totally oversold share price.

Yesterday's decision upsets the timing of forward planning, but that is all.

UKOG's future prospects remain intact.

In theory, having been submitted after the 20th, these 2 questions are for next month:

http://www.angusenergy.co.uk/media/investor-questions/

Brings back to mind the word "omnishambles", haven't used that in a while.

I think we can all express our sympathy to SS and the team, he is, and they are, most definitely not responsible for what happened today.

Trying to buy back in cheaper, nhawan?

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overreaction of the share price.

The application for trenching at Clogau has been submitted, it is now for the council to come to its decision.