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TH2,

'This has big implications for UK hydrogen strategy' - yes, but only works for UKOG if they were a serious contender and there wasn't already a storage solution already planned by a competent operator nearby in East Yorkshire, and there was significant production and demand planned in the south of England that would need first round storage.

Any UKOG ambition is likely to be stopped in its tracks by the hydrogen strategy update, expected soon as it was meant to be published last year, which will guide the selection process for storage and transport allocations- announcements made in 2025 clearly showed a focus in government for hydrogen production and demand in the North West, North East, and East of England and Scotland - where there are windfarms (with more being planned) for electrolysis, with heavy industry nearby - plus where the first stage of Project Union will be executed.

No surprise that AI seems to be incapable of any critical thinking repeating UKOG complete BS PR like this:-

'Major collaborations (such as the one between National Gas and UK Oil & Gas/UK Energy Storage) are underway to create a national "hydrogen backbone" pipeline'

'Major collaboration' - National Gas builds Project Union and UKOG issue 18 billion shares to keep the lights on until something happens (or for longer if the something is bad news) because they have a heads of agreement to lease a site 80km away from the Solent where it terminates as not only won't they be 'collaborating' in any meaningful way to creating Project Union they won't be building a 80km pipeline either.

A fine example of garbage in, garbage out.

Ocelot,

Strange way to put it 'If and when'

It's either if or when - or more likely 'Not conceivable a major industry or financial player joins them in UKEn'.

Whilst UKOG would try and big up any conversation or letter neither potential storage site has any chance of being selected in the first storage allocation round, although it has yet to be relaunched. Either there's better option/s nearby in East Yorkshire - or for South Dorset no near term significant production or demand even at a distance that isn't already collaborating - not to mention no pipeline - with Project Union terminating about 80km away when it eventually arrives in the Solent area.

Ocelot,

you only enjoyed it when he was ramping in one of his many disguises - but when he had sold he was happy to criticise (unlike ocelot)......

The Fool on The Hill@davethedrill1

Jun 3, 2021

Ocelot or Ocebot :) on lse must be on speed or something. You can't keep posting like that night and day. #ukog

But yes Sando & PR team desperate to get his placing away. What's his bonus for this time?

Tarmacing a road in Turkey maybe?

Adrian

The Fool on The Hill@davethedrill1

Or drilling another Duster?

9:44 AM · Jun 3, 2021

Funny that is was probably one of the few times Adrian was right......

Was this the post?

'RE: AIm 3 Jun 2021 08:01

We all know that UKOG's current share price and market cap do not correspond to management's ambitions for the company.

It makes sense to broaden their horizons and focus on SE Turkey, where it is clear there are opportunities to be explored and they have partnered with a company with decades of experience in the region.

Dwelling on the past won't restore past losses, so investors will turn to the future and anticipate the spud of Basur-3, wishing all those involved all the best.'

Yep - drilled a duster, then another, then exited Turkey - AME certainly found a company that was prepared to ignore the historical drilling and pay to drill their dodgy prospect, and then found another to drill.

Ocelot,

whilst a final decision hasn't been made it is likely it will be cap and floor as mentioned in the July Hydrogen Update to the Market:-

'After engaging with the market and exploring options for the design of the Hydrogen Storage Business Model our minded to position continues to be that the most appropriate business model is a revenue cap and floor mechanism to be awarded via a subsidy competition’

As for ostrich - sorry 'head in the sand' ocelot where ignorance is bliss - any article to do with hydrogen regardless of irrelevance to UKOG, or more often bad news for UKOG, is posted in the hope no one reads beyond the headline.

As for Centrica they are, like UKOG, waiting for the first Hydrogen Storage Allocation Round to be launched as they are expected to be one of the competing applications to 'win' a subsidy - the difference being that Centrica won't be trying to get someone else to pay for developing a storage site with no nearby transport, production or demand.

The wait will continue until the updated Hydrogen Strategy paper that was expected last year is released - the lack of urgency by government, the first round was originally planned for 2024, might be because of uncertainty about when levels of hydrogen production will justify large scale storage.

I missed the 'Jr' initially and was surprised to see Tony O'Reilly had risen from the dead.

Ocelot,

this would be in competition to EPP's Marram plan - though they are producing natural gas first to deplete the field and convert to grey/blue hydrogen, then storing hydrogen down the line - but how serious this proposal might be is encapsulated in the last words you pasted 'of the cavern'.

Bains like every conventional oil or gas field worldwide is not a cavern.

Ocelot,

Where are those windfarms? Mainly in the North and Irish Sea.

New cabling from the NE and NW (or Scotland) to South Dorset remote from any significant demand - and ExxonMobil seem to be sorted if the Fawley Green hydrogen electrolyser is awarded a HAR2 allocation - or a short hop to electrolysers and storage in advanced planning - the East Yorkshire 'potential' site (has UKOG leased it yet, or even heads of terms like the west of Weymouth 'potential' site) is near the SSE / Equinor Aldbrough salt cavern storage site which is already progressing planning for hydrogen storage, and in the NW the MESH scheme is coming together.

Yet another post hoping that nobody investigates further than the headline in the article linked on UKOG's Web site.

I won't repeat my previous post that explains it's of no interest to UKOG invesstors - except, if anything, it illustrates why the west of Weymouth hydrogen storage won't be selected in the first storage allocation round - ExxonMobilt, the largest potential user of hydrogen in the Solent area, has sorted hydrogen supply and storage with a project already shortlisted for HAR2.

From Fawley Green Hydrogen's website:-

'The Fawley Green Hydrogen project proposes to build a hydrogen electrolyser and storage facility, supplying hydrogen by pipeline to purchasers.'

Not just production but storage as well - and 'purchasers' suggesting they're touting for local businesses as well as ExxonMobil - probably the same ones UKOG is talking to - and by supplying the Fawley refinery removes one of the major potential hydrogen users in the Solent region.

Not sure it's of much interest to UKOG - it's in the region of 80km from west of Weymouth with 120MW of hydrogen production with a nearby customer - and it's one of the few southern England projects to get on the shortlist for HAR2. As it's a development on a former power generation site it's probably well positioned for the power grid for electrolysis.

Hynamics is part of EDF

https://www.hynamics.com/en/our-projects/fawley-green-hydrogen

Just remember next time TH2 is posting how brilliant UKOG projects are and is holding when the SP is spiking:-

'TrollHunter2

Posts: 2,490

Price: 5.60

No Opinion

RE: A mention in Parliament7 Jan 2026 09:05

Interesting view.

That's why some of us make money trading stocks and others don't.

As long as you keep buying the peaks and selling the dips you create the opportunity for me to make money. Thanks :-)'

If TH2 really believed the rubbish he(?) posts he(?) wouldn't be selling.

Ocelot,

As usual suspect you're hoping nobody reads what happened - not sure that Ed is showing much interest - from Hansard:-

Michelle Scrogham

(Barrow and Furness) (Lab)

T4. Without energy security, projects such as Team Barrow and the regeneration of Barrow-in-Furness more widely would be impossible to deliver. Does the Secretary of State agree that large-scale proposals, such as the MESH—Marram energy storage and decarbonisation hub—project in the Irish sea, can play an important role in delivering the Government’s clean power 2030 ambitions, strengthening energy security and creating skilled jobs? Will he meet EnergyPathways to discuss this project further? (907165)

Ed Miliband

It sounds like a really interesting project. My hon. Friend is absolutely right that there are huge opportunities. Opportunities abound when it comes to co-operation with our near neighbours and across the world to help our energy security, deliver clean power and bring down bills.

Sounds like a no to meeting EPP .......in fact he doesn't appear to be answering her at all - and MESH is far ahead of anything UKOG are doing so you would expect him to have some knowledge of the MESH project - I'm afraid when Ed mentions clean energy he's thinking of electricity.

Perhaps why we're still waiting for the updated Hydrogen Strategy from Government expected in 2025, and is almost certainly going to guide the hydrogen storage and transport allocations when the round finally launches for applications.

'In his video of 13/10, SS spoke of discussions with a European and a Japanese potential partner - an announcement could be made at any time.'

Of course, as could have been said after the many previous occasions when talks, discussions, even negotiations have been announced since June 2022 - that's 42 months ago since 'productive talks with a number of key infrastructure stakeholders and potential strategic partners' - still nothing - from a previous post here's the previous PR/hype:-

2, 3 & 6 October RNS:- discussions with energy infrastructure and sector specialists'.

30 September 2025, 2024 ARA: 'we plan to continue discussions with potential strategic investors'

19th November 2024 RNS:- ‘the Company continues in advanced discussions with an energy infrastructure investor'

5th August 2024 RNS:- ‘to further negotiations with identified prospective strategic joint venture partners'

10th July 2024 RNS:- ‘to fully prepare and engage with further prospective strategic partners'

2 April 2024 – 2023 ARA:- 'intriguing conversations with major infrastructure players'

1st February 2024 RNS:- ‘in discussion with several significant potential international investors'

31 March 2023 - 2022 ARA:- ‘conversations taking place with government, infrastructure operators and possible strategic investors'

30 June 2022 Interim: 'the Company has held productive talks with a number of key infrastructure stakeholders and potential strategic partners.'

But when you see them one after the other you should realise all they're doing is just interchanging the descriptions of what and who.

It's an interesting question as to who is responsible for restoring HH but it's likely that any equity holder in the licence is responsible if another fails, and the licence document will likely have a requirement for parent company guarantees - but it will only have to be answered in the unlikely event that UKOG (or is it UKEN} is successful in the first hydrogen storage allocation round as the resumption of production at Horse Hill will be hyped when it becomes obvious that their hydrogen storage sites are in the wrong place.

.......and if this was really true 'the Company regards the remaining untapped recoverable resource perspective as potentially significant.' why in the 2022 Corporate presentation was this the future of HH (slide 33):-

'Horse Hill site repurposed to include/deliver green geothermal heat @150-200˚C to surface via downhole heat exchangers'

They then waited over a year before starting to sort out the rejected planning after shutting the site down.

As for "... the produced volumes to date (at HH) represent less than a few percent of the assessed oil in place" - it took four years to manage that, and they've avoided getting a CPR and in the PPP farmout they were committed to shoot 3D to properly map the structure to retain the whole licence area - and drill a well - another missed target.

Doesn't sound like a company with much faith in Horse Hill - until now when the government's official utterings in 2025 about hydrogen are focussed on the north and east of England - and not forgetting Scotland - though like UKOG failed to hit their own deadline to release the updated hydrogen strategy in Autumn 2025, still waiting to see if they manage it before the end of 2025.

'Trish63

Posted in: UKOG

Price: 0.0215

Posts: 814

Await the news! ;) 18 Nov 2025 20:43

I simply cannot wait until we see our next RNS.

We will all be smiling together in the future when this is released.

UKOG4LIFE!'

Be careful what you ask for - the next RNS was '21st Nov 2025 7:00 am RNS Additional funding for UKEn Hydrogen projects'

more dilution which dropped the SP about 25%.........

Ocelot,

That kind of maths gymnastics reminds me of the conversation between a CEO and FD

CEO What profits are we reporting this year?

FD What do you want them to be?

Though the idea of 'quasi equity' (quasi meaning:- 'apparently but not really; seemingly') is about as realistic as 'intangible' assets' that after years of appearing in accounts and being quoted by ocelot as if they existed and justified ridiculous valuations, were as expected finally removed with an impairment of £32 million

'Necessary information was still being prepared as of the 15th of December.' when UKOG expected to have the application ready.

Well they've only had since they realised that, despite ocelot's lack of concern, Dorset is in the wrong place - or if not place, wrong time - and East Yorkshire doesn't stand a chance of being supported in the first storage allocation round with SSE / Equinor's Aldbrough storage site nearby.

....and despite UKOG RNSing that the Dorset site 'is fully in keeping with the Government's Clean Power 2030 ambitions" reading that document there were 3 specific mentions of 'hydrogen storage' and the conclusion seemed to be that timing was uncertain 'Developers face barriers to investment including high costs, long lead-times, and uncertainty around how quickly demand for transport and storage will increase.'

...and government doesn't appear to be urgently releasing the updated hydrogen strategy originally expected Autumn 2025, then before the end of 2025 - though it's unlikely when it is published it will have much, if any, succour for investors in UKOG.

Ocelot,

then there's those that post to deceive.

They need watching and responding to - the eason some filter is so they don't have to justify their posts as there's often no justification, just hope and belief disguised as opinion.

Seems that the prospectus just repeats what has been said all along about the where and when infrastructure will be built, the enthusiasts presumably hope that others don't read it and realise it's irrelevant for UKOG as almost anything about hydrogen is. From the Prospectus:-

'Over 2024/25, National Gas Transmission continued to shape Project Union – its project to connect hydrogen production, storage and demand centres, to enable a hydrogen economy in the UK. Using the learning from HyNTS FutureGrid, National Gas Transmission plans to use existing pipelines, as well as building new pipelines, to create a core hydrogen network for Great Britain, with the first phase in the East Coast region proposed to be delivered by the early 2030s and eventually connecting to the proposed European hydrogen backbone. The programme has recently secured £165 million project allowances through the RIIO-T2 price control Net Zero reopener mechanism, to deliver FEED studies in the East Coast, Scotland and North-West, representing over 50 per cent. of the proposed core hydrogen network. FEED delivery partners have already been mobilised for the East Coast region, with the Scotland and North-West regions to follow in 2026.'

.....and please don't claim that UKOG stands a chance of securing funding for the potential site in East Yorkshire when it's going to be competing against SSE / Equinor's Aldbrough site.

....and Trish about the ‘Launch of UK's first Hydrogen Ecosystem map for South West and Wales’ article (from 2022) you were so proud of finding the other day - their webside is no longer monitored probably because ‘The UK Government took the decision to withdraw funding for Pan Regional Partnership in March 2025.' SS just having a chat with others unlikely to be funded in Bristol - makes it look like they're doing something.

Bigfoot - As for government funding - the fact NG is raising funds privately for transport infrastructure indicates that funding for the project isn't coming from government.

Sarir,

that may be the way you would like it to be - but it's highly unlikely that if, as expected, there are only 2 sites chosen for support they would be beside each other - if there were 2 sites chosen in the NE Centrica's Rough conversion would be a clear second choice - they succeeded in getting depleted field storage included in an acceptable application.

Of course Project Union will go near the site UKOG wants (at last mention in November 2024 they were still to negotiate the lease:- 'The Company has a unique window of opportunity to acquire long term purchase and leasehold rights to the property') because they chose it to be close to the Aldbrough site and Project Union is likely close to the SSE / Equinor site because that's where NG expect to connect to - serious companies that already have salt cavity gas storage, can attract the necessary funding and must already be dealing with NG.

So as well as this statement November 2024 - 'The property also lies adjacent to the first construction phase of the proposed Project Union national hydrogen pipeline network' UKOG should also have mentioned this from the interim accounts released 30/09/25 'The Company is planning a further hydrogen storage project in East Yorkshire, located nearby to the existing SSE Thermal/Equinor Aldbrough gas storage site.' - allowing investors to judge for themselves how likely it would be that UKOG would get selected for support against such competition.

ZYX,

UKOG are possibly approaching a situation where they might have to acknowledge that their hydrogen storage ambitions are not going to be achieved if the hydrogen storage update is finally published and, similar to recent government hydrogen news, shows a focus on the NE, NW & E England and Scotland for early stage hydrogen support - could they seriously claim that the potential site in E Yorkshire would win an allocation of revenue support when it's near the SSE / Equinor site where an extension to their cavern storage is already planned.

For UKOG it will then be imperative to signal progress restarting Horse Hill regardless of whether or not it makes commercial sense - and by the time that happens production, with the well shut in for nearly 2 years, could have better onshore flow rates initially, possibly with much lower water cut, than those they kept quiet about during the 55 months of production.

But the tail off will be much faster than before, and that was pretty quick halving a few months.

Expect a restart of Horse Hill news supplanting hydrogen news - and a renewed interest by certain posters in Portland production and the 'possibility' of Kimmeridge production accessing those billions of mostly unproducible barrels of oil in it - forgetting that UKOG kept quiet (as usual for bad news) about the June 2019 RPS report that preceded the failure to do any more work on the Kimmeridge (HH-2 deepening, HH-1 sidetrack, dual completion) and 21 months later replacing the billions of oil in place with 1.5mmbbls 2C resources - the first mention of that report.

Were the raises mainly for BB and HH (and salaries) - and what's happened to the sale of Horndean?