Member Info for Penguins

Living up to your reputation of making stuff up.

You posted this complete BS:-'NO PENGU THATS NOT TRUE AS UKOG JUST GOT A BRAND NEW 60 YEARS LEASE THAT CANNOT BE BROKEN by anyone with more money than us , DYOR and you have failed to mention that fact''in your post?'

Do you understand English - though you were selective in what you copied. If you'd included the first part you would have made nonsense of your rant - 'a site anywhere'.

The full sentence was:-

'a site anywhere where the salt is thought to be suitable in Dorset (or Yorkshire), could be leased by anyone'

or do you think UKOG leased 100 sq miles, or that the thickest part of the saliferous beds is limited to a small area under the site they are negotiating? SS said it was 'a modest sized surface facility'. Sounds like there will be plenty of room for other sites - after all UKOG found another site - was it because Portland port started looking iffy? Oh and I suspect there will be a break clause in the lease because, of course, it might never be used.

But this is bizarre, 'there is no rules that say investors cannot have an educated guess on direction of daily travel in the CO they are invested in on LSE RAMP or otherwise', when did I suggest that? But an informed 'guess' about the project made from as many sources as possible would be better to 'DISCUSS WHAT IS IN OFFICIAL RNS' - but why should discussion be limited to what's in RNS - though it would be interesting to see what happened to those posters only seem to only post about other posters with no mention of UKOG.

So do think there should be no mention of the government guidelines that will determine how any bid for revenue support is assessed?

BTW please do carry on guessing the SP direction of travel - and luckily there's no rule you have to be right.

So stop shouting, you're becoming a bit emotional, not good for investment decisions - .

Is that because the 66% drop to what appears to be a level where the SP could ‘do what it does, up or down’ is worrying you. Unfortunately UKOG has ultimately never risen fromwhat some posters thought were previous silly levels.

I suspect there will be another P&D but these tend to be short term rises disconnected from the likely outcome of whatever the latest ramp/company 'news' is about, so unless the SP drops from lack of news, or because there is a raise before the next ‘positive’ RNS, you should be OK – but remember to sell as the SP can rise rapidly, and it can also fall rapidly.

SS has history of over hyping any project that UKOG get involved in, and even then posters see hyped potential outcomes as guaranteed.

But there's a vast difference between the desk studies, surveys and reports involved in initial planning of the Portland port billion pound H2 storage project, and actually executing it successfully - let alone the three that UKOG seem to think they will get funding for - yet Portland port has been in progress for over 2 years, and finance / partners /investors sought most of this year, but still awaits any commitment.

Unlike O&G E&P where a company has a licence over the area they want to explore that gives them exclusivity the area of salt is large and a site anywhere where the salt is thought to be suitable in Dorset (or Yorkshire), could be leased by anyone in competing for an allocation - or by a potential partner who prefers not to have an AIM potless minnow asking for help.

But despite the outlandish claims being made by posters based on vague RNS where UKOG fail to mention the government requirements (a formal LOS only required from the site owner) - I've seen no reasoning why Portland port would be chosen as one of the two successful applicants in the H2 storage allocation round even if they are eligible to apply by getting conditional on success finance and persuading SGN to apply in the H2 transport allocation round by advancing their plans for the western H2 Connect pipeline.

The first storage round is focused on areas where there are plans for green H2 generation (which coincide with where there are, or will be, wind farms in the early 2030s to provide excess power for electrolysis) and industry to then use it - Portland port is remote from the Solent Cluster which doesn't seem to be a major industrial area - and there don't appear to be any plans for green hydrogen generation there at all - probably due to the lack of multiple nearby offshore wind farms. Of course the Solent Cluster would like a link to storage 80 km distant - but will it be a government priority?

Madeitup,

I suspect, like most of your sweeping statements, you just made up 'but Monday 7am is the Nomad favourite for solid news' - though in your previous post you attributed it to SS.

I found 5 Monday 7:00am placing RNS one each in 2018 to 2022 - although you put funding as lacklustre - more like a bit sad if you held over the weekend on the advice of some anonymous person on the internet. But 'solid' is a matter of opinion. Perhaps you can research it and come back with details over the past 5 years to support your claim?

As for anonymous advice on a Friday. before a Monday morning placing - guess who:-

'TrollHunter2 Posts: 2,109

Price: 0.22 No Opinion

It's the weekend! Monday RNS again 2 Jul 2021 12:49

Last two Mondays we had a Turkish update 7am morning update which each time gave us a step up.

Wouldn't want to be out for the weekend :-)

Just took another nice top up myself and looking forward to very near term developments.

Blow out protector must be on now and drilling down into the money layers!!!

GLA'

and of course the ever present 'another nice top up'. Somehow I'm starting to think that may not always be true.

Talking of historical Monday morning RNS

Friday 2 July 2021 – closed at 0.24p, Sunday 4 July 2021- this must rank in the top 5 of ocelot’s posts for inaccuracy:-

'ocelot Posted in: UKOG

Posts: 24,729 Price: 0.24

Strong Buy

RE: Buy 4 Jul 2021 13:22

Penguins,

Imho, as an investor in UKOG, I think you can begin to relax, the worst that can happen is that you make some money because the share goes up, (the 2nd worst, is that you make less money than you could have done because you didn't reinforce when the share was cheap).

Think we may be heading for something rather different than a spike, think a fundamental re-rating may be in the wind.'

Note:- 'Strong Buy'!

Followed at 7:00 am Mondat morning by this:-

5th Jul 2021 7:00 am RNS Successful Placing and Proposed Open Offer

Placing was for £5mm at 0.18p (-25% from Friday's close), open offer max £5mm at same price raised (surprisingly) £462,554

Monday 5 July – closed at 0.182p

The SP has never closed that high since – even after 10 to 1 consolidation.

One other point SS was expected to purchase his first tranche of DDSP shares on 2 July 2021 (a fixed date so that purchases could be made in closed periods) - by delaying until December he got his first tranche not for 0.24p but 0.1015p - though that's equivalent to 1.015p today.

Surely he couldn't have known the raise, followed by the Basur-3 failure in early August, would tank the SP?

'Come on ukog, and change the habit of a lifettime' - doesn't sound that 'happy' or certain, but good luck - habits are hard to break.

Ocelot,

Last time (last year) wasn't it November before they got out of suspension. Not sure anyone who bought at 9p will be banking profits.....though given the ability of AIM 'investors' demonstrated here and in their history to invest in pigs in pokes, who knows.

As for UKOG research on H2 storage UKOG RNS seem mighty light on the requirements to apply in the allocation round so definitely read these two government papers - ie who will decide who gets the first 2 allocations.

https://www.gov.uk/government/publications/hydrogen-transport-and-storage-networks-pathway

https://assets.publishing.service.gov.uk/media/6579fd330467eb000d55f783/hydrogen-storage-business-model-market-engagement-on-first-allocation-round.pdf

If these don't work search on H2 storage allocation round they'll be there somewhere

'the government and international large players back multi £billion project in current planning for the coming months.'

The government won't be backing a storage project until end 2025, although the process already appears delayed. That backing isn't cash up front but a guaranteed level of revenue to pay back the development expenditure.

Nobody is going to hand over cash to UKOG without the government t guarantee - and will be aware that the choice of which 2 projects get the guarantee will be based on criteria of proximity to proximity to planned early H2 production and possible H2 industrial use.

Do your research and find out where early significant H2 production is planned, and where the main industrial areas of the UK are.

From the BB extension refusal decision notice:-

'Your appeal and essential supporting documents must reach the Inspectorate within 6 months of the date shown on the Local Planning Authority's decision notice'

Decision Notice was dated 21/03/24

Still have tomorrow to say they've appealed, and of course they may wait until the inspector confirms the documents have been received.

But having RNS'd this:-'Although the envisaged geothermal scheme is entirely peripheral to the Company's core petroleum and hydrogen storage activities and is of no current materiality, the Company will further consider its position and has six months in which to lodge an appeal should it so decide.' - appealing would appear to be ridiculous - though this is UKOG and meteriality may not be a consideration vs 'news'.

Madeitup,

better hope that no one buys into UKEn in the coming months then...as it currently is 100% owned, or do you mean UKEn 100% owned by someone alse – UKOG having sold it. As for TH2’s market view based on posts it's ramp like crazy, top up all the time including hours before a terrible RNS, and then disappear for a while.

Ocelot,

must have sold during the 2017 mega P&D – ‘and the share spiked at around 10p/11p - what a payday that was !!!!!!!’ - shocking that someone who was always positive about that, and any other projects, and UKOG's future - must have realised it wasn't as good as UKOG claimed - though he has stated that negativity is up to others, presumably even if ocelot is negative about the future we'll not see it in a post - presumably to keep the price up for selling......

and be wary of announcements about UKEn funding as it won’t only be ring fenced, it will be conditional on being one of the chosen 2 to get a government revenue guarantee in the storage allocation round, but the hope is no one will notice the risks and there will be a P&D and another ‘payday’ for ocelot.

As for Adrian he’s a permanently banned poster who is incapable of hiding his identity either because of spelling, punctuation or attitude towards certain posters (or more often all three) even ocelot on twitter when he's deramping. He’s made enough enemies to ensure he’s reported even if he tries to be civil. Like TH2 he’s a believer in free speach – as long as it’s his – note for TH2 not all ‘investors’ (gamblers) expect success, they just hope for a P&D – even ocelot.

Either ocelot is the second biggest UKOG loser, or a trader, which means ocelot must be well aware that after a spike usually signalled by a vague, misleading or unimportant RNS coupled with charting BS the SP drops , same goes after a placing - even the one at 0.015p. There will no doubt be another P&D the question is whether the SP will drop, and how far before it.

TH2

What was it yesterday - Looks like any placing sellers have finished now:-

97 0.041 50000000 0.04 0.043 10:28:21 50,000,000

Not yet - as it can't possibly be a forward sell........can it.

...........and sorry forgot to put Madeitup in my last post, as in:-

Madeitup - still living in your delusional fantasy, fact free, world.

Just in case tricky, TH2 or ocelot thought I was referring to them.

Still living in your delusional fantasy, fact free, world.

Should have said no projects guaranteed to be worth as much as the mcap. UKOG is a company that talks big and so far has delivered one operated project with positive cash flow - and that is surely becoming less and less 'positive' with an oil cut below 50% and waste water still being trucked away.

They've been seeking 'international' funding. investment, partners, since early this year. Have those they've approached worked out that Portland Port is an approx 80km dual pipeline away from the nearest industrial area - which isn't very industrial - nor close to any significant wind farms (even ones proposed) for green H2 production (see map link below.

The first H2 storage allocation round (the holy grail of government support) will favour storage near H2 production and industrial areas that could use it - eg the NE and NW.

Without the government backed revenue guarantees available to the 2 'winners' nobody is going to guarantee funding a billion pound project - even if UKOG does find a backer there will be a caveat - only if they get an allocation - and that looks unlikely.

Apologies for continuing to post fact based opinion rather then the sort of 'criticism' that tricky prefers to post about other posters - I keep those sort of opinions, and you cn be sure I have them, to myself.

https://en.wikipedia.org/wiki/List_of_offshore_wind_farms_in_the_United_Kingdom#Map_of_the_UK_offshore_wind_farms

TH2,

It's impossible that there are more buys than sells day after day - either they are hiding sells with the spread or the seller is still about, though today it looked like a lot of traders checked out happy with maybe 5 to 10% profit while others were checking in.

If anything the high volumes suggest something completely different might be on it's way - it's a way of life for UKOG - volume either caused by them, or they spot an opportunity.

Not sure anyone is going to leave UKOG in charge of their cash so I doubt that UKOG will retain anything but a mini % of UKEn - but they have to get that finance set up and SGN to apply in the transport allocation round just to be eligible to apply in the storage allocation round - let alone be ranked first or second in the assessment stage.

Lots of claims about how much storage is needed in 2040/2050 - but this round seems focused on what's needed in the early 2030s - from the pathway document:-

'To enable the growth of hydrogen demand necessary to meet our decarbonisation goals in the short term, the hydrogen economy needs onshore salt cavern storage, and the associated pipeline infrastructure, connected to hydrogen production plants and clusters of industrial and power demand. This needs case supports an ambition for the first hydrogen storage and hydrogen transport business models to support up to two hydrogen storage projects and associated regional pipeline infrastructure to be in operation or construction by 2030.'

Ivillian,

yet another trader that makes up fantasy stories about others who they disagree with.

Yes I'm cynical about UKOg's claims because they so often have been proved to be nothing but hype. As for TH2 - just exposing the repetitive unbeliievable narrative of buying, holding and somehow being back in

Still waiting for the explanation how and where a pi can 'short' - I keep asking and like a politician they dodge the question.

But as to TH2 - here's another example of TH2's trading style this time just before Pinarova first test failure RNS 2/2/24 (at 2:08pm). First a post the day before:-

'Price: 0.0205 [0.205p now]

No Opinion

Another 50 million - or two 1 Feb 2024 12:06

Think I'll have another 50 million at this price, thank you very much :-)'

Then 6 hours before the RNS:-

'Insidious - bang on.

Turkey is not just for Christmas :-)

Wouldn't want to be out for the weekend. Those guys work through the weekend and a Monday RNS is always a possibility and we know those gap up the SP locking shorters and waiters out of their missed opportunity.

Long and hold is the game for me.'

Claiming to buy more and 'holding'. So either is down or.........

After the 02/02/2024 RNS 3 posts (first in March) before 18 July.....then plenty of posts in 2 months.

I suspect similar has happened before as TH2 is always buying, holding and then strangely 'back in.

Sense - stink maybe, but wouldn't rely too much on TH2's claims where UKOG are concerned – has a habit of arriving when there’s hope of news, ramping it heavily then disappearing when the news (usually bad) arrives or on a spike as the dump drops the SP - this was 2.5 hours before a RNS saying the first Pinarova test found no oil......:-

'TrollHunter2

Posted in: UKOG

Posts: 2,094

Price: 0.1055

No Opinion

RE: Holding Strong For Oil Gold 25 Apr 2023 09:41

Absolutely, this is just a normal trading pattern.

Investors can ignore these small peaks and troughs .....good chance to top up though :-)

There's definitely black gold in them there hills....we know for sure now.....go UKOG!!!! :-)

Wait for that blue touch paper RNS....going to make the brave very rich :-)'

two more ramping posts before the RNS (including this:- 'Strange, cannot execute a live buy online right now....so placed a limit order') - then disappeared until early May for a short burst of ramping through May.

But no 'black gold', no making the brave very rich - 'topping up' (another favourite) just before the price drops? - judging by the pause in ramping before the RNS TH2 was probably busy dumping, and then in May 2023 bought back in?

Similar story in early February this year, and probably every P&D / hoped for RNS in the past.

TH2,

So who's right.

UKOG say 3 sites each of ~2.7 TWh~15-20 caverns/site. Each site potentially = ~20% of predicted UK 2050 storage demand - though they have said each site 10 to 20% which depends on which forecast of storage required you use.

Taking the lower percentage that's implying 10 sites of 15 to 20 caverns - or the higher percentage only 5 sites. - so not 90 x 10 but between 75 and 200 caverns, in 2050.

There are already 3 natural gas cavern storage sites in operation, 2 in the NE (Aldbrough 9 caverns with plans for more for H2, and Hornsea/Atwick 8 caverns) and one in the NW (Stublach 20 caverns), Centrica also have Rough - which they want to make H2 ready.

2030 'need' is much less, and depends on local production as national infrastructure (vs local, perhaps with repurposed ng infrastructure) is unlikely to be in place.

The question is will a storage site remote even from the Solent Cluster make the cut for the first allocation round 2 'finalists' assuming the pipeline and finance are committed (subject to gaining allocation) and thus eligible for consideration.

TH2,

The incentive is revenue support - when there's revenue.

The idea is that the H2 storage company gets a loan from someone (or self fund) and when the facility is working the government guarantees that the development expenditure is recovered over at least 15 years.

The plan is for 2 projects to be selected from those applying that will proceed to negotiate the contract for support with government. The process already appears delayed as the final application details were to be published Q2 with the round opening Q3 2024 and final 2 announced Q1 2025 - contract negotiation through 2025, signing in Q4 2025.

I know every little helps but in 2022/2023 Kiran's pay was £27,000.

Allan still on the payroll - but presumably less than the £80,000 odd he was getting 22/23.

Won't know until March 2026 though.

Presumably Kris will want a pay rise?

On his arrival in 2019 they forgot some of his experience (from the 2019 interim report):-

'....including the arrival of Kris Bone as Operations Director, a new Company role. Kris has more than 20 years of global oil and gas experience in drilling, testing and production operations, being recently Well Engineering Director for IGas'.

Now of course 25 years with 5 years at UKOG. I was probably a bit harsh grouping him with the team that over hyped wells that were in the wrong place or in no hope locations - though Pinarova resting.........

Erm - He joined the Company in 2019, before Portland port was a twinkle in anyone's eye at UKOG.

Wasn't 2019 when they were testing HH-1, then drilling HH-2z. Then Basur-3 followed by Pinarova -1. All where UKOG tried to hide how bad things were as long as possible.

A proud record? Perhaps just as well they've given up on their ex-core business but the same team.