Member Info for Penguins

Trish,

You might notice that in 5he many tweets that UKOG produce of government statements most mention hydrogen, some mention hydrogen storage but none mention UKOG (or any other company) - which when you consider TH2's claims is very strange as supposedly the government is 'committed to UKOG's plan' - maybe TH2 just made it up.

Your quote from UKEn is exceptional in that it doesn't mention hydrogen.

I'll leave you with this gem from TH2 in 2019, the day before the HH-2z initial from results were RNS'd (the SP equivalent to 9.25p post the consolidation):-

TrollHunter2 Posted in: UKOG

Posts: 2,190 Price: 0.925 No Opinion

RE: buy 22 Dec 2019 21:29

Yep, could see a step up in the morning but the real rise now will be in January when the majority of investors will research and buy in. Going to be a very good 2020 for UKOG shareholders.

Happy Christmas and a very prosperous new year UKOGers :-)'

21 Dec 202 SP 0.125p.

The government has a plan to support hydrogen storage but the final details are not yet published, expected in Q1 2025.

Any statement that the government is committed to UKOG's plan is a lie.

In fact the leaked changes - allowing depleted field storage and quite likely already existing cavern storage to apply for support - appear to be quite the opposite.

More like committed to Centrica's and EPP's plans.

Trish,

That's like saying the Titanic only needs a bit of welding to return to service.

UKOG has a habit of jumping projects before informing investors the last one is dead - though claiming they are still considering further work on it.......but need money for next bright and shiny thing.

Broadford Briddge >>>>> HH-2z / HH Kimmeridge

HH-2z / HH-2z production >>>>> HH-1 production

HH-1 production / HH-2z conversion >>>>> Basur Resan structure

Basur Resan structure >>>>> Pinarova / Portland Port

The future, sort of now:-

Portland Port >>>> 2nd site Dorset >>>>> E Yorkshire

E Yorkshire >>>>> 2025 ?

Not sure when in that timeline all the other sideshow distractions that came to nought fit in though most only advanced to ramper fodder status:-

Baxters Copse, Arreton 3 & 4, Markwells Wood, A24/Holmwood, East Arreton, American production, Loxley - though Loxley may still be the last gasp 2025 distraction.

Suspect I've forgotten some of the false dawn, dead by sunset, projects.

Ocelot,

More weasel words from your master of spin.

The significant word in this statement is 'essentially'.

'"....the allocation support, essentially, will provide the capital funding, and also cover the fixed operating costs, of the project and that will likely be over 15 years, so that's a very big carrot"

'essentially' not it will - the previous 'model', and I doubt that by 15 July the new government had devised a new plan, was that revenue support would provide the guarantee that development expenditure would be recoverable when the site was in use - hence 'essentially' providing it because investors would be provided with a guarantee they would eventually get their money back - as SS says - 'over 15 years'.

So nothing new.

We await the market engagement document to see what's actually changed althugh EPP seem confident their gas field storage will be included and this (from their October RNS) could mean existing caverns as well:-

'be capable of repurposing natural gas infrastructure and reducing decommissiong costs'

This thread title is a lie.

There is no government backing for UKOG projects - billions or otherwise.

The suggestion that having just leased a field in the NE places UKOG in the forefront of salt cavern storage and it's supported by government is ridiculous

Portland Port and the leased field elsewhere in Dorset has the problem that the government has not supported any significant projects associated with the Solent Cluster.area (unlike the NE and NW) and Portland Port needs a ca 80km pipeline to be laid just to reach the Solent.

As for the marketcap it's more than UKOG would be worth to a potential buyer as there is the liability of restoring the BB site and abandoning BB-1z to set against any tangible asset value remaining for HH and their 10% of Horndean.

Ocelot,

UKOG's been tweeting and RNSing about 'talks' with various sorts of investor funding since at least early April this year.

Quite often UKOG promises to update, inform of results, or do something - then ihere's no update, no information or it doesn't happen.

Examples from memory, just from HH are:- HH-2z conversion, a CPR, HH-1z being drilled, HH-2 deepened through the Kimmeridge - all planned, none happened, but never mentioned again, or explained why they never happened.

Sam12345,

.....and.....

But the meeting was part of this tender process:

https://www.contractsfinder.service.gov.uk/Notice/6e2aabee-9be3-4bb4-80ba-ea5daf165fe7

See below for a contract summary.

Which states the closing date for bids should be 31 August 2025. Successful applicants will than be announced probably Q1 2026 and contract negotiated to be signed following that.

Contract summary

Industry

Hydrogen - 24111600

Construction work for the oil and gas industry - 45255000

Gas storage services - 63121110

Show additional CPV codes for this notice

Location of contract

Any region

Procurement reference

tender_458599/1427069

Published date

21 November 2024

Closing date

31 August 2025

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

With closing ay the end August, then a ranking process to decide the chosen projects and then a contract negotiating period there's no way anyone will be signing a contract in 2025.

More worrying, is the contract isn't suitable for SMEs.

Not sure how positive for UKOG the final application details will be. The government plan was to effectively only allow new salt cavern storage with a very strong bias towards the industrial north.

Whilst the delay has enabled UKOG to belatedly lease a possible site in the NE that delay was probably because the only credible NE and NW plans for storage were depleted fields or conversion of natural gas salt cavern storage.

The question is will UKOG have a credible project able to beat competition from Centrica and/or already built salt caverns in the NE? They've spent over 2 years and a lot of cash producing a plan for Portland Port which already had a borehole and lapsed permission for gas storage - what chance a plan for a greenfield site will be quicker and cheaper.

Until the final details of admission criteria, and then how project ranking will be assessed are published (December 2023 market engagement only the 2 top ranked projects would go forward to contract negotiation) it's very unlikely any investor would commit funding.

Sam12345,

There's posters who excel in making predictions of the SP going up (eg 2p/5p insidious) without explaining what they're basing those predictions on - which just looks like hope, or worse blatant ramping.

So, any chance you could specify what update on hydrogen storage is expected in Q1 2025 That makes you expect that this will break higher in the coming days?

And the reason rampers try to mock anyone looking at their history:-

'Insidious

Posted in: UKOG

Posts: 3,628

Price: 0.023

Hold

RE: Turkey14 Dec 2023 15:21

Bubblepoint - Invest now and you can double your money...'

Even the July/August spike was only half the December 2023 SP because of the 10 to 1 consolidation.

and this from ocelot just now provi g it's the spikes not the projects as nothing positive apart from a P&D has happened this year:-'If it's anything like UKOG 2024 RIP, we could be in for an interesting year.'

Yep as predicted 2024 =

Pinarova failure

HH production continued to fall while water cut increased

Loxley farmout no taken up by anyone

HH-2z not converted

Even UKOG appear to realise Portland Port is in the wrong place

More raises but no finance committed for Portland Port projeçt.

But at least SS is still able to draw a handsome salary.

Insidious,

If the number of posters pointing out how ridiculous posts repeating UKOG BS tweets were was an indication of good news on the way the SP wouldn't be where it is.

A look at tweets always claiming supposedly good news vs a listing of UKOG's RNS and the resulting 'progress' of the SP suggests otherwise.

The latest 'information' isn't even new information that those allocated revenue support won't be signed up until 2026 - here's the start of a tweet from 28 October:-

28 Oct 2024 10:20

'TH2,

EPP have RNS'd that the DESNZ has indicated that the planned hydrogen storage allocation round launch which was scheduled for Q3m2024 won't happen until next year with target contract signing ( ie certainty of government support) in 2026'

As for it being consistent with UKOG's plans - only because they realised Portland Port isn't in the right place and it might give them time to conjure up something for the E Yorkshire pasture they've leased.

Ocelot,

The only success was that of (yet another) P&D - what happened next proved it was based on hype - relying on the hope of mugging posters to cash in your chips is reprehensible..

TH2,

It just looks like the usual UKOG BS.

What it means is that UKOG will be able to string punters along for an extra year or so.

All they've done is repeated what the government has said and claiming they've had input to the timing when in early 2024 they raised to accelerate the work on Portland Port because the timing of the round was moved forward to open in Q3 2024 with successful applicants going forward in Q1 2025 to negotiates a contract to sign Q4 2025.

The delay is more likely because Centrica lobbied government to allow depleted field storage to be included and probably already existing salt cavern storage will also be included. So although the delay might allow UKOG to cobble together an application for E Yorkshire there could be multiple competing applications for the NE cluster.

I suspect UKOG is positive about the delay (apart from being rumbled later) because Portland Port was unlikely to be allowed to enter the process, now the first hurdle won't probably be before Q3 2025 and they can concentrate their BS on E Yorkshire.

It just looks like the usual UKOG BS.

What that means is that all t

Madeitup,

Unfortunately Storengy (the creator of the video) is the operator of existiing salt cavern storage in the UK, amongst others - and salt caverns are not expected to be the only may of storing gas.

Clearly UKOG is not 'THE ONLY CHOICE'. BS as usual from someone who specialises in making stuff up.

Durandura,

Well you didn't, but E&OE the sentiment was there - but do you think repeating 'soon' renews the claim of 'soon'.....

'Durandura

Posted in: UKOG Posts: 2

Price: 0.02425 Strong Buy

Ukog6 Dec 2024 18:40

This share will be Rochet soon.'

I suppose it's only gone down 0.001p (4%) in the week since the last '[a] roc[k]et' and 'soon'.

.....and madeitup,

After the last raise

Sounds familiar - 22 November 2024:-

'.......but to bring the series of news and partners we have been waiting on for the past 3 month, so with all things been equal the only way is up''' from here on in, next stop 0.1p before Christmas IMO, forever the optimist on these unloved stock in AIM graveyard....'

Only a week or so to go before Xmas, more chance of SS being on a plane to the Caribbean the day after the meeting last week than a decent RNS from UKOG.

Yet another poster let down hoping SS delivers rather than progresses.

With the H2 storage allocation round effectively cancelled with a new round of industry engagement starting some time next year is anybody likely to commit to funding sites that may not fit the new eligibility criteria, or have strong competing bids. UKOG has leased 3 sites, spent a lot of time on one that looks to be in the wrong place and only recently leased 2 fields one also probably in the wrong place e, and the other likely to be trumped by a bid from Centrice (depending on the outcome of the new market engagement).

Ocelot,

UKOG has a few substantial liabilities- probably costing more than the mcap. You also forgot that the Turkish licence has a deadline of June 2025 to drill another 3 wells or pay a penalty - geen a while since UKOG was reviewing options there.

With the government restarting the process next year to decide the parameters for how and who might get support for H2 storage (the accelerated process announced December 2023 wasn't expected to have signed contracts until lare 2025) UKOG is unlikely to get any cash from anyone apart from loan sharks - international infrastructure investors are probably quite canny who they support with cash before it's certain that a project will be supported by government, and it would be ring fenced to UKEn..

Optimists explain not that there will be any funds leaking from UKEn to pay the liabilities but hope that the hope of award of future support from government for UKEn in the next couple of years, but not payable except on completion of the project and there's revenue to be guaranteed, will enable more share issuance in placings at a higher share price after they've sold as has been historically UKOG's and the enthusiasts MO (ie a pump & dump).

TH2,

Despite all the tweets about the government and Ed sounds more like it's the first time she's heard of UKOG.

Also nothing happening until they re-start the process next year with a second market engagement plan.

TH2

Looking delusional.......

From the DESNZ invitation to companies to attend the first meeting with interested suppliers on 11th December at 9.30am (subject to change).

Contract is suitable for SMEs? - No

Contract is suitable for VCSEs? - No'

Closing date - 31 August 2025 - but that fits UKOG's delay - get paid, delay - raise, delay - get paid, delay - raise, delay - get paid - etc.

and that's the closing date for applications.....so 2026 for contracts being signed.

Obviously didn't read this bit.........though it's before the bit quoted by ocelot:-

'Contract summary

Industry

Hydrogen - 24111600

Construction work for the oil and gas industry - 45255000

Gas storage services - 63121110

Show additional CPV codes for this noticeLocation of contract

Any region

Procurement reference

tender_458599/1427069

Published date

21 November 2024

Closing date

31 August 2025

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No'

Expect posts not quoting the above.

and it almost certainly includes natural gas storage in caverns already being used that can relatively cheaply be converted - and of couse Centrica will be touting Rough - and 'Geologic' storage includes depleted fields.

But UKOG has leased a field.......

You posted:

'Should see us break upward from this level soon.... in anticipation of the government meeting results this week or next :-)'

More nonsense from the nonsense factory.

When has one of your predictions been anything but a hope for a pump & dump before either the market realises that UKOG only deal in smoke, mirrors and confetti or the results of a venture are reluctantly released.

The hydrogen meeting this week is described in this link, initially posted by ocelot:-

https://www.contractsfinder.service.gov.uk/Notice/6e2aabee-9be3-4bb4-80ba-ea5daf165fe7

But any educated reader might make it to the end (obviously ocelot who originally linked it either didn’t read it, or hoped no one else would) where the contract timing and company suitability was described:-

Closing date

31 August 2025

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

So the contract isn’t suitable for UKOG, most definitely a SME - if not a ‘Voluntary, Community and Social Enterprise’ – with benefits for the board from the voluntary and charitable contributions from those buying UKOG shares.

Unfortunately with a closing date for applications of 31 August 2025 any statement following the meeting from UKOG will be of the vague and possibly deceptive type – wonder if UKOG (or TH2 / ocelot etc.) will mention the closing date or suitability criteria.

TH2,

'That's a brilliant find and very important to UKOG's story'

What nonsense, EWE doing a test of something that's already established elsewhere is not important to UKOG's story.

'It has been recognised already that the UK has unique geology to make the best case for this type of storage too.'

Recognised by whom? The UK does not have unique geology for salt cavern storage - even the thread title suggests otherwise.

....and UKOG is not uniquely positioned - unless having leased two sites in southern England that are unique in that they are in the wrong place relative to where demand and production of H2 is anticipated.

But what is this rubbish 'Maybe even enough to export the facilities!!!' - probably a bit difficult to export salt caverns.

Stockcheque,

'And UKOG with it's collection of Salt Cavern locations is the EWE of the UK'

How ridiculous is that statement.

UKOG has leased 2 fields and a disused bit of a port, there are no salt cavern locations.

EWE had revenue of 10 billion euros in 2023.

UKOG's 'revenue' is almost all from raises - selling shares cheaply and this year that's been about £3 million.