Member Info for ocelot

:-)

Thank you for that, Ibug, I'll post the information on the ANGS board.

Ibug,

Almost all of the public comments date from last year, but, obviously, the Planning Committee of 25th February is not looking very likely.

Angus's ewt of the Balcombe horizontal carries important implications for the Weald basin's Kimmeridge.

In their RNS of 22/01/20, they said:

We believe that our application to West Sussex County Council (WSCC) for our planned extended well test is likely to be considered by the Planning Committee on 25(th) February 2020 although we have not yet received a formal invitation.

2 weeks later, however, there has been no further word from them re the Planning Committee.

Reminder that, at the date of the last annual report, 30/09/18, net assets (total equity) stood at £10.108m.

Since then, there have been a number of share issues to raise cash and Brockham, presumably, will require a write-down.

Who's "we"? The US? Russia? China? Saudi Arabia? ...

The extended well testing approval with the OGA is still under discussion but a rate of 300 BOPD has been discussed as has the need for a long flow period to evaluate the reservoir properly. However this does not limit our ability to flow the well at higher rates but rather offers an indicative flow rate to the OGA. (Answer to Investor Question asked 30/01/20).

Now subtract 900K for Riverfort loan….from your 2.85M

1.95M
----------------------------------------------
No, the £900k is to be reimbursed in shares, not in cash.

It's both, isn't it? Cash resources and burn rate.

A burn rate of £250k per month with zero cash resources is not a very healthy financial situation.

The same burn rate with £2.85m of free cash resources is a much healthier financial situation.

Whoops, wrong month!

Market cap: £3.7m

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

Market cap: £3.7m

Cash resources at 27/02: £3.5m of which £2.85m was free.

I wish I'd bought more at the price when I could have done!

Fair enough, Ja51, but, for those of us who've been on this board for some months, we do seem to go around in circles rather a lot.

This guidance has been posted on this board so many times, Ja51!

Originally (not necessarily by yourself, I hasten to add) it was posted to explain why the OGA would not transfer the Saltfleetby licence and operatorship to Angus.

The RNS of 02/12/19 disproved that particular theory.

£200k loan reduction

UKOG +14.8%

Chinese oil demand has dropped by about three million barrels a day, or 20% of total consumption, as the coronavirus squeezes the economy, according to people with inside knowledge of the country’s energy industry.

The drop is probably the largest demand shock the oil market has suffered since the global financial crisis of 2008 to 2009, and the most sudden since the Sept. 11 attacks. It could force the hand of OPEC and its allies, which are considering an emergency meeting to cut production and staunch the decline in prices, which are headed for the lowest close in four months...

https://www.bloomberg.com/news/articles/2020-02-02/china-oil-demand-is-said-to-have-plunged-20-on-virus-lockdown?srnd=premium-europe

Wolfbag 175
BBoyo 178
Bunks 185
Withoutt. 186
Hawkey 190
Broadland 192
ocelot 195
Digby04 201

No, nothing's changed.

... The Organization of Petroleum Exporting Countries and allied producers are considering how to respond to a plunge in oil prices, with Russia signaling for the first time it was open to Saudi Arabia’s push for an emergency meeting...

https://www.bloomberg.com/news/articles/2020-01-31/-black-swan-virus-outbreak-fears-send-oil-short-selling-soaring

Congratulations, Boyobach, on your win and on your speech.

I agree, think Genel has been remarkably resistant just recently and certainly hope it augurs well for the future.

Now, if only the oil price could behave itself ... and recover some height!