Member Info for ocelot

7.4% (40m shares), through the 7% threshold on 02/12, the day of the RNS re the OGA's approval of the Saltfleetby transfer of licence and operatorship.

He repeated what the RNS yesterday stated, not a single word more...
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Have you read Malcy's comment, wealdpwr?

This is beginning to look like a potentially very interesting deal for Angus, paid $2.5m to take on the stake it seems to me that downside is very limited but potential upside is still substantial, ...

The field has been built and kept in immaculate condition and if Oilfield International’s upcoming CPR suggests maybe 10-18 BCF on site then the upside is huge just by working the field over...

... I for one think that this one could be worth keeping an eye on.

Pboo,

As I understand it, he can't, because Adrian's blocked him.

Wasn't aware you are dyslexic, fjones40, so please accept my apologies.

It was Malcy who described ANGS as "uninvestable" at the beginning of the year, so that comment of his constitutes a major shift of opinion.

GL's Net Present Value calculation of discounted forecast net cash flows for Saltfleetby of 4p per share was based on a compromise between ANGS's conservative and optimistic scenarios (as I understand it - and see the RNS of 19/06).

Those cash flow forecasts were central to ANGS's submission to the OGA.

The OGA's approval of the transfer of the Saltfleetby licence and operatorship to ANGS significantly increases the credibility of ANGS's cash flow forecasts.

lse was inaccessible

This is what you wrote:

"... then out of the blue they had their biggest ever placing, a couple of days after without testing Brockham the crystal ball told them Brockham’s oil want not mature enough and Brockham was announced a duster !".

Mike Wells
Director of UK Operations (Non-Board)

Mike began his career with BP at Eakring and was involved in the development and appraisal of many wells in Lincolnshire and beyond including the original successful exploration wells into the Portland at Brockham.

Following time with Candecca Resources, Mike was employed by ROC Oil to oversee the Saltfleetby Gas Field (the “Field”) and he remained with Wingas UK Storage Ltd on its acquisition of that Field. Mike has extensive experience in field management and engaging with all regulators.

E_AL,

Your sequence of events isn't entirely accurate: the Brockham RNS of 28/06 occurred in the same week as the half-year report (24/06), but the placing was made 2 months earlier, on 30/04.

Bouygues (or SCDM) are NOT an institutional investor!

ANGS has successfully obtained the OGA's approval of the transfer of the Saltfleetby licence and its operatorship.

With time, the market will come to appreciate that ANGS is "under new management" and seeks to establish constructive relations with the various regulatory bodies involved in UK oil and gas exploration and development.

An outline cash flow profile has been set out in the presentation for guidance only (extract from RNS of 19/06, acquisition of interest in Saltfleetby gas field):

Net Cashflow Year Year Year 3 Year 4 Year 5 Year 6
GBPmillion 1 2
Conservative 1.8 3.7 3.0 2.4 1.9 1.5
----- ----- ------- ------- ------- -------
Optimistic 1.8 4.2 6.2 6.1 4.9 3.8
----- ----- ------- ------- ------- -------

If an II approaches the company and says, "Guys, we've got £2m we would like to invest in your company now", how many CEOs in SS's position would respond: "No, thank you very much, but we've already got all the cash we need"?

It's a vote of confidence in UKOG from an II, it's good news.

Where one II has taken the initiative, here's hoping others will follow.

It's the KEY piece of information investors were awaiting - the upside potential now heavily outweighs any downside risk.

Well done, Angus!

That's why Investor Questions were updated yesterday, a Sunday, to leave the field clear for this morning's RNS.

A single institutional investor - that's encouraging.

Can you please guarantee you are not going to delist and take Angus energy private in 2019 or 2020? Asked on 19 November 2019

Speaking on behalf of the Board we have not even discussed the matter. Our 100% focus is on making the business work rather than in depriving shareholders of value by acquiring the Company on the cheap as would be possible given the present share price...