Member Info for ocelot

It doesn't help the intended action against the company, when all had been put on their guard by a communication like that from the OGA of August 2017.

Sorry, it goes back to August 2017, not the Spring of 2017.

Wow! That is really damning.

But it goes back to the Spring of 2017.

The UK markets have been out of a favour for a long time: it's why, if there was to be a deal agreed with the EU, the upside potential in domestically-orientated stocks is BIG.

In addition, oil stocks in general have been downgraded over the last few years.

1.35m buy at the offer price of 1.30p.

... so it will be a question of discussion and negotiation between the OGA and Angus with the final decision lying with the OGA.

I fail to see how any poster on this board can anticipate now the outcome of that process.

This is the bit in the article I appreciated:

Correction: Earlier versions of this story stated that $24 billion is owed to oil companies operating in the Kurdistan Region.

After being alerted to the figure's inaccuracy, Rudaw English sought clairification from a number of Kurdish parliamentarians. While some failed to respond to our requests for data, others gave $24 billion as the overall debt figure for the Kurdistan Region - including, but not exclusive to, money owed to oil companies. KRG debt owed specifically to oil companies stood at an estimated $3 billion in 2017; the article has been corrected to include this data.

The real rise in the share price will take place when the market believes in UKOG's capacity to generate positive net cash flow, so that placings simply become an optional source of additional funds.

Unfortunately, I don't know when the market will take that on board!

Iran is reacting with increasing desperation to Trump's maximum pressure campaign.

Let us hope for both peace and ... a firm oil price!

Purchase of Tellurian's 35% of HH, planning permission for production at HH, arrival on the site of the rig, as a long-term investor am feeling more relaxed about UKOG than in a l o n g time.

at 1.233p

Can't be bothered read it.

How many articles have they published on UKOG this year?

50% of those will have been for and 50% against.

Angus Energy plc (AIM: ANGS) is pleased to announce that the appointment of Mike Wells as (non-board) Director of UK Operations. Mike began his career with BP at Eakring and was involved in the development and appraisal of many wells in Lincolnshire and beyond including, co-incidentally, 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 of our regulators. We are very lucky to have his immense experience in UK onshore to help us as we address reconnection of the Field and recommencement of operations. (RNS of 16/07).

YL,

The OGA's text comes across as very reasonable.

Obviously, in reality, all depends upon the way in which the text is interpreted and applied, but, if ANGS is proposing to re-activate Saltfleetby for 10 or 12 years, I find it hard to believe the OGA will seek to discourage them (whilst, at the same time, of course, wanting to be comforted about ANGS's ability to meet its obligations).

... it might include ...

How do you get from "might" to "need" (as in "ANGS will need to set aside money before the application is even approved..."), YL?

Aren't you reading the text in the way you want to read it?

... it might include ...

How do get from "might" to "need" (as in "ANGS will need to set aside money before the application is even approved..."), YL?

Aren't you reading the text in the way you want to read it?

It's always nicer to be sitting on a gain!

but then goes on to say:

This power applies equally to all wells, whether onshore or offshore, drilled under a Petroleum Act licence or a Gas Storage Licence...

PS: although that paragraph relates to companies that have drilled, or started to drill, a well.

Thanks, Torreaguas: looks as if 39. may be the relevant paragraph:

39. Additionally, S75 of the Energy Act 2008 added a provision to the Petroleum Act 1998 that
grants to the Secretary of State the power to require financial information and documents
from a company that has drilled, or started to drill, a well. OGA will analyse that information
and decide whether or not it is satisfied that the company will later be able to plug and
abandon the well. Where OGA is not sufficiently confident of this, OGA is empowered to
require the company to take further action that will bring the necessary level of confidence,
and while the action is not specified it might include the creation of financial security such as a
Letter of Credit for the required amount under OGA’s control. This power applies equally to all
wells, whether onshore or offshore, drilled under a Petroleum Act licence or a Gas Storage Licence...