Member Info for ocelot

... is now scheduled for February. Whilst the Company wished to act more rapidly, no suitable slim-hole production logging tool ("PLT"), essential to identify the exact source of water ingress into HH-2z, was available within the UK or Europe until this time. (RNS of 28/01).

There's no suggestion in the RNS that the gear is coming from outside of the EU.

YA (one presumes) offload of 5m at 0.607p.

That's simple, they can't be trusted, all they do is compare the trade price to the mid-point of the MMs' spread at the time.

For the record:

https://drillordrop.com/2020/02/06/decision-date-on-balcombe-well-test-delayed/

Thank you for your post, dt19827.

OPEC expects Russia to respond in days, rather than weeks, to a production-cut proposal as the cartel confronts a price rout triggered by the collapse in petroleum demand from China, according to a delegate...

https://www.bloomberg.com/news/articles/2020-02-06/opec-expects-russia-to-respond-in-days-to-oil-output-cut-plan-k6bjugtk

Article in this morning's Times, p38: bit of history about the company, but no new insights.

Would like to see more new faces on the board, there have been a number in the last month or so.

From Bloomberg:
OPEC+ Recommends Output Cut (6:46 p.m. HK)
The OPEC+ Joint Technical Committee recommended an output cut of 600,000 barrels a day to offset the demand impact of the coronavirus, a delegate said. The recommendation will still have to be discussed by OPEC+ ministers and the group hasn’t yet agreed on a date for an early meeting.

It's not £500k in March but £250k on 31/03 (and £250k on 30/06).

Yes, I think it will be made available, but let's see how things go between now and then.

In fact they would be lucky to convert them before the October repayment date with the wafer thin volumes going through.
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Less concerned by volume than yourself, Ja51 - am expecting volume to pick up as news is released of the progress made by ANGS's 2 principal projects.

But that is a matter of personal judgement, of course.

Curious offer price, 0.658p.

https://www.bloomberg.com/news/articles/2020-02-05/opec-technocrats-prolong-talks-as-russia-resists-cuts?cmpid=BBD020620_OEU&utm_medium=email&utm_source=newsletter&utm_term=200206&utm_campaign=openeurope

Market cap: £3.7m

Cash resources at 27/01: £3.5m of which £2.85m was free.

Total cash resources = 95% of market cap.

It's a quality concern, conservative balance sheet, very low production costs, very quick return on investments, merits a premium rating (imho).

PS: I shall now filter you, wealdpwr.

wealdpwr,

It's a convertible loan! that means the £900k willbe paid back in new shares issued by the company and NOT in cash.

Consequently, ANGS's free cash resources of £2.85m at 27/01/20 are not concerned by the reimbursement of this sum.

Heavyweight appointments and good to see the (more recent) major shareholders are now represented on the board.

https://westsussex.moderngov.co.uk/mgCalendarMonthView.aspx?GL=1&bcr=1

25th Feb cancelled, next meeting scheduled for 24th March (with thanks to Ibug on the UKOG board for this information)