Member Info for Penguins

Earl of AIM

Oh dear - not 'funding' - 'excitement' which is lovely, but doesn't mean much does it, especially UKOG's because they get excited at the thought of their salaries being paid for a while longer.

There's no government 'funding' for H2 storage. It's revenue support when the facility is in operation.

Even UKOG mention it (RNS 21 August) - 'The Company also aims to apply for government Revenue Support for at least one Dorset site'

Ths is getting ridiculous.

You linked that tweet on 5 September:-

maidit308

Posted in: UKOG

Posts: 9,508 Price: 0.0395 No Opinion

RE: This will turn & is turning and if you are short god help you.. 5 Sep 2024 09:10

Interesting tweet from UKOG https://x.com/UKOGlistedonAIM/status/1831286893645840399

and anyone who actually does research apart from UKOG PR can look at the list - UKOG / UK aren't on it.......

https://assets.publishing.service.gov.uk/media/66d6ad7c6eb664e57141db4b/Contracts_for_Difference_Allocation_Round_6_results.pdf

Made it up,

you posted:- 'UK Government support for UKOG UKES must be close also IMO, if EXXON have been named ?'

Why?

Pathetic, you surely know, from your research, that government support won't be until next year for any storage project - after the applications have been assessed and those selected agree a contract with the government.

That support will be in the form of payback of the development expenditure in the revenue stage, which, if the facility is built, would be when it was in use - it isn't certain Portland port will be elegible for the first H2 storage round.

..........and you know that the two mentioned LOS are from SGN and RWE - ExxonMobil is mentioned only as a member of the Solent Cluster by the Solent Cluster Chief Executive - not as a signatory to this LOS, nor as a potential supplier of a LOS.

Made it up,

can't wait for the wight link ferry company to send a LOS......

But now that the 'Solent Cluster. has sent a LOS nobody else needs to send one do they? Maybe members were fed up with UKOG pestering them.......

Until there's finance and a pipeline committed UKOG can receive lots of LOS and they still won't qualify them to apply in the H2 storage allocation round - maybe the 'market' has spotted that even if you'd prefer to concentrate on a letter that doesn't add anything to what's already known.

Madeitup.

no one disputes that 'if' the H2 connect link to Portland port is built it will.......link to the Solent Cluster - about 80km of pipeline.

But that's a big 'if'. SGN have to commit to build it - and that hasn't happened has it.

When the H2 storage allocation round is underway and the applications revealed that will be the time to understand what chance Portland Port has of being one of the chosen projects to receive revenue support in the first round - that assumes that UKOG can meet the application eligibility criteria - finance and an associated pipeline.

LOS may be nice to have but UKOG need SGN to commit to apply in the transport round for the H2 Connect link to Portland port (H2 Connect isn't just the Solent to Portland Port connector) and get someone to commit to finance the storage facility.

Bandying around names of big companies to finance it may be fun but the reality of backing a facility far away from industrial usage with no committed production plans nearby to the tune of about a billion pounds is no trivial matter, and in reality what part of UKEn would UKOG retain. But any company may see a much better use of funds than tying them up for maybe a decade before any significant revenue allows the development expenditure to start to be repaid - and there is risk that in the meantime some other technology comes along that makes H2 or the massive storage of it in caverns no longer needed.

Make sure you sell on the spike this time maiditup - hanging around spouting stuff you make up for a month or so after missing the last one has been very tedious.

There is no government funding in the allocation round which is what UKOG want these LOS for. But far more important, and essential, is an associated transport application and proof of a ailability of finance.

Even with those there is still the problem that Portland Port is nowhere near production or industrial usage of H2 - another deciding factor for an allocation:-

'The location of production plants currently planned in the UK to 2030 provides a clear indication of where early infrastructure could hold strategic value in the near term'

Freedom of ''speach' is not 'freedom' to make up lies about other posters (or anything) - that's just plain lying.

You're permanently banned from this site and some of your last few posts illustrate why you should continue to be banned.

PS you posted 'You and your shadows attempt to continue over a long period of time that UKOG will have to shell out lots to P&A is BS.'

you'll note that earlier I posted that they wouldn't be restoring the BB site any time soon because they will probably appeal the retention refusal to buy time.

As for H2 some projects will get government cash - but not storage, the support is through the allocation of revenue support - ie when there's revenue.

Geothermal they'll have to apply to GBEn and presumably justify the project - but it will be small beer that if it happens UKOG will probably keep quiet, like they have for HH, about future cash flows.

It is my only account.

I'll report that post for the lie it is, not just because it's you.

Oh dear,

So UKOG are still in contact with CeraPhi - so what - they've been in contact since December 2021 and UKOG haven't said anything definite is happening.

But unlike you I don't need more than this account which has been active, never suspended, since 2015 - and many have tried to rile me with the sort of junk posting you indulge in.

You have no idea - I said years ago you'd be surprised - and you still have no idea - just your ramping for beginners claims about posters you don't agree with.

I understand you are desperate but shutting you up isn't my aim - in fact you keep giving me the opportunity to show how shallow your claims are.

But once you start going off on one it is time to say goodbye.......

Erm,

Surely as a savvy business man (cough) you'd know that you get a company that knows what it's doing to look and work out if geothermal will work, and probably have to pay them for something that would require a lot of investigation reviewing the well logs and testing data. UKOG hasn't said it will work have they - and as you pointed out there was no obvious mention of an ongoing project on CeraPhi's web site, just news of the HH 'geohub' being looked at, over 2 years ago in December 2021. The word on UKOG's home page is 'investigating' according to ocelot not proceeding with.

I understand your desperation - but really, stop being so silly.

Adrian

the wells are not necessarily oven ready (does that mean half baked) there are various ways heat can be extracted but the main determinant is will it last years not days. The Weald isn't a 'hot spot' so low grade heat and thus low revenue and they need an 'agri ' customer who's prepared to pay for it. What was it - tea production?

Over the years none of your supposed reasons to expect success have actually happened - usually because it depends on an expectation of too many unlikely positive events falling into place - and refusal to take account of the negatives that exist - you might claim you're an optimist but you're just a trader who visits this board weekends when you're 'in' and the SP is in trouble - which unfortunately for the board is quite often.

Funny that the greenies think these green projects are no good, local nimbys think the Turkey project was/is no good. and UK oil workers supposedly anti the 'green' projects think the UK oil projects are no good - not sure if you've worked out that these are the alternative claims you've made about individual posters depending on which project they have been less than enthusiastic about - ie it's the projects that are poor, not whether they're oil, nect door or 'green' - and it seems from the comments about 'mad Ed' and throwing money at anything regardless that the 'enthusiasts' are also not that sure the H2 and geothermal projects are any good - but are keen for government to hand over cash to subsidise UKOG - only problem is that isn't the plan for H2 storage.

I see now it's just derampers - yawn.

One thing I've noticed is that the 'support team's' quality is pretty poor, and desperate, since the P&Ders left the crime scene, preferring to refer to a spike more than a month ago rather than the current SP, it's almost as if they missed out on selling then - one in particular littering their posts with capitalisation - a sure sign of a desperate poster and certainly a strong challenger to Adrian in the making it up stakes since appearing on 2 August as the SP was dropping after the last spike......... and nearly 150 posts later still here - 'there is no need to ramp here' on 12 August long forgotten......seems there is.....

Pity that all those intangible assets are no longer a priority as they need a lot of cash to prove they're not there - leaves a paultry £3.7mm (apologies - I made a mistake quoting it as £4.7mm previously) of tangible assets - ca 0.033p a share. Of course when that international finance comes in and they take most of UKEn UKOG might suddenly decide they are a priority as any cash will be locked away in UKEn.

What's your pronblem - no one hurling abuse at you so you start trying to stir it up.

But back to Broadford Bridge - guess what UKOG has mentioned Ceriphi being involved in Broadford Bridge - here's the quote but as you think it doesn't exist (Penguins. Show me one RNS were Broadford Bridge has ever been linked to CeraPhi Energy. You cant. Becuase it NEVER hapoened lol.) I'm not ging to mention which RNS - lol.

'Technical and commercial discussions continue with CeraPhi Energy regarding potential for a geothermal and agribusiness project incorporating the Broadford Bridge asset.'

and I suspect there's more than one - but once is enough to once again show in the absence of any prper research you just make stuff up

Yep, no cash to spend on doing anything with any of their so called assets - how many years has that HH-2z conversion been planned and prepared for? - but I guess an appeal will cost as will a planning application for site conversion - I wonder if they might just drop it - like the licences they had over other fantastic redrills like Baxters Copse, Arreton ot even A24 - all spun out to give the enthusiasts something to post about instead of doing anything like drilling a successful well. Now they've got three storage sites BS about - only over two years so far and they needed cash recently to do studies and surveys......

and you never did explain this bizarre statement last weekend:-

'Dont they realise UKOG Have the leases on all the best chalk geology in the south'

What on earth are you posting about. What leases, for what, chalk - are they going to resurrect schools using blackboards?

That got posted before it was finished / got tidied up - but you get the gist.

As for BB UKOG have no cash so delaying restoration is essential so first they have to appeal before 19 September, and whilst that grinds slowly through the system they will need to put in another planning application for repurposing the site and well. It will be small beer for a company indulging in a billion pound project - but it may tide them over for a while and give the enthusiasts something to post about - though in operaton I suspect any profit will be minimal.

GTech,

You don't know if references to BB have been removed. I would be surprised but nevertheless just because that 'news' was only about HH it doesn't mean there was never a reference to BB

So in fact your statement that there weren't any company references remains factually incorrect.

You're both wrong, UKOG is mentioned as news in December 2021 (though referenced as Oil and Gas UK on the news page) - and they mention other companies they are doing business with as 'news' including igas.

I suspect UKOG will delay until the last day to lodge an appeal - maximising the time before having to restore the site should (when) they lose eventually.

'should the failure of Pinarova-1 have impacted UKOG's share price quite so negatively?'

I have no printable words to express my amazement at the lack of self awareness of a poster who has relentlessly repeated UKOG PR and encouraged rampers, and joined in, during pump & dumps for years whilst the SP has declined from the equivalent of over a pound (in 2017, pre consolidation) to £0.0004 - a drop of 99.96%.

The reason that Pinarova and every previous drill result has had such a bad impact on the SP is the hyping that UKOG and their ‘support team’ has indulged in right up to the moment failure is revealed whilst others are pointing out the likelihood of failure increasing with every vague RNS.

Specifically for Pinarova Ocelot posted this tweet from Lenigas the day before UKOG revealed the first failed Pinarova test:- 'No one has ever drilled and tested this horizon in #Turkey for #oil. This is why I’m super excited about this circa 50m of oil shows in this @UKOGlistedonAIM well. #UKOG'

I'm guessing to ocelot repeating ramping isn't the same as ramping - hmmm.

It was BS that many were pointing out - here was the start of my reply:- 'Ocelot, Maybe it hasn't been drilled for oil but Kezer was drilled for geothermal and was tested and according to UKOG the Hoya was tested and flowed fluid with a heavy oil cut - and also had oil shows in the Hoya.'

But why just blame the Pinarova failure - just before it was finally confirmed there has been a raise, a consolidation approved after they stuffed the EBT with 10% of the shares, another raise to pay off the CLN and another raise after a P&D - surprise surprise.

UKOG has in the meantime not converted HH-2 to an injector, HH production declined as the water cut has increased, tried to farm out Loxley using an agent which looks desperate, not said anything about whether they will appeal the BB retention refusal, and it has become apparent that an application for portland port in the allocation round needs an associated transport application as well as proof of financing - which UKOG is now repeatedly claiming is 'closer' - than what nobody knows.