Member Info for ocelot

The Alliance News article following the RNS is headed:

Alba Mineral Resources Will Focus On Clogau After Business Review.

It is very clear, they are really excited by Clogau's prospects and "that project's ENORMOUS potential".

They are usually pretty cautious with the way in which they express themselves, so for them to use a word such as "enormous" means something.

From the half-year report of 24/06:

16. RELATED PARTY TRANSACTION
In March 2017 the Company provided then director Jonathan Tidswell-Pretorius with a GBP200,000 Directors Loan. Interest will be charged at 3% per annum and the group charged interest of GBP4,000 (H1 2018: GBP4,000). At the 31 March 2019, the amount due from the former director was GBP211,000 (H1 2018: GBP207,000).

£4m is the more or less straight application to Alba's holding of the price paid by UKOG for Tellurian's 35% of HH.

It's the simplest part of Alba's portfolio to value for an outside observer.

It would give them cash, but wouldn't necessarily provide a boost to the share price because, in theory, it's already in the share price, (but it might help to focus attention on the rest of the portfolio, of course).

Their market presence serves a purpose, it enables them to raise equity finance through placings.

Agreed.

Doesn't say very much for UKOG's price, says even less for Angus's.

UKOG's share price does now exceed that of Angus.

"After the excellent results we have announced at Clogau over the past 12 months, which have reinforced that project's ENORMOUS potential, ...

Happy to see them fast-track Clogau, too.

Think the key is in this paragraph:

"Our overriding objective will be to continue to deploy the Company's funds towards the fast-tracking of those of our assets that can most quickly move into the development and production phases, as that is where Alba will be able to make significant returns for shareholders, with cash-flow generated either from production or, if the right opportunity arises, by selling an asset for a multiple of our total exploration spend."

So they're concentrating their fire-power where they believe cash can be generated quickest.

Personally, I am pleased, would prefer them to focus on cash-generation in the near/medium term than to spread their resources too thinly.

-- At Horse Hill, regardless of whether Alba resolves to continue to decline to fund future cash calls relating to that project (see further our announcement of 18 June 2019), Alba's investment in Horse Hill remains a near-term cash-generative opportunity for the Company. As such, Alba is open to either retaining its stake in the project through to production, when material oil sales revenues should be generated, or to giving serious consideration to any third-party offer received prior to production which properly reflects the inherent value of Alba's stake...

-- The Company is open to external investment into Alba's Greenland asset portfolio, with a view to substantially derisking one or more of those projects while retaining a material stake in the upside...

-- At Horse Hill, regardless of whether Alba resolves to continue to decline to fund future cash calls relating to that project (see further our announcement of 18 June 2019), Alba's investment in Horse Hill remains a near-term cash-generative opportunity for the Company. As such, Alba is open to either retaining its stake in the project through to production, when material oil sales revenues should be generated, or to giving serious consideration to any third-party offer received prior to production which properly reflects the inherent value of Alba's stake...

Alba's Executive Chairman, George Frangeskides, commented:

"After the excellent results we have announced at Clogau over the past 12 months, which have reinforced that project's enormous potential, it should come as no surprise that one outcome of Alba's recent review is that Clogau should continue to be a focus of the business moving forward."

"Our overriding objective will be to continue to deploy the Company's funds towards the fast-tracking of those of our assets that can most quickly move into the development and production phases, as that is where Alba will be able to make significant returns for shareholders, with cash-flow generated either from production or, if the right opportunity arises, by selling an asset for a multiple of our total exploration spend."

Operational update

...Furthermore, the partners in the Licence convened on 23 June 2019 to formulate their plans for an extended well test at Balcombe and a planning application to that end is already in the process of preparation. The application is expected to be submitted to West Sussex County Council before the end of August. (RNS of 28/06)

Any buy-back of the Shares pursuant to the Programme will be effected in
accordance with Chapter 12 of the UKLA Listing Rules, the EU Market Abuse
Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052
(and within the meaning of this Regulation the purpose of the Programme is
to reduce the capital of the Company). The market will be notified in
accordance with those rules if and when purchases are made.

How odd!

It's 1.10p in the middle, 1.05/1.15p.

"... that ongoing exploration success alone represents a HUGE and unique opportunity for Alba, ..." (RNS of 06/08).

Hope Clogau can do extremely well for Alba!

Lowest trade on AIM so far today is at 1.10p, but there have hardly been any trades - just 4.

Suggest you look at the net cash flow profile provided in the 19/06 RNS.

Saltfleetby appears to be a relatively low-risk venture.

It is highly unlikely, imho, that the funds will not be forthcoming to advance it.

But will BoJo do or die or do a U-turn?

What's impressive is the sheer number of posters who are participating in fjones40's competition, way more than those who post on the board on a regular basis.