Ibug
Why don't you write to the company and ask for a copy of the directors terms and conditions?
I don't believe that the company can refuse to issue them if requested as the directors have to stand for election by shareholders.
Mirasol
I don't know if that is true or not.
Even if that happened it would not mean that UKOG would not have a accounts specialist as the Non Executive director has a oil and gas finance director background with larger companies. Nicholas Mardon Taylor came to UKOG from a position as finance director at Hurricane energy. He also as a Non executive director scrutinizes the accounts as part of his audit committee responsibilities.
Nicholas Mardon Taylor
Non-Executive Director
Mr. Mardon Taylor served as the Chief Financial Officer of Hurricane Energy PLC from May 2012 until January 2016. He has worked in the oil industry for over 35 years, his first involvement in the North Sea being in the early licensing rounds. He was with Hurricane from 2005 to January 2016 when he was the Group’s first CFO and was subsequently responsible for the Group’s Environmental Management System.
Time will tell Penguins but it was stated that nothing new would be happening at Horse Hill in the next 12 months before they went to Turkey so we will have to see how things progress.
Ibug
I think there are a couple of reasons for the delays the legal challenge to the site & the COP26 conference at the end of the month.
I am looking for better news towards the end of the year for progression.
Stopstart
HH1 is a production well with a value.
Should it be the case that the 20 year production licence granted by Surrey council is overturned it is all for nothing so you will just have to be a little more patient the same applies for the water injector and the EA permit.
The government has won a similar case recently in the North sea so it should not be to long.
vernonya
Have you done any research into the reason that you mention?
One if the main reasons that I see is the complexities and time consuming nature of UK regulations and legal challenges compared to other countries.
My hope being that once the Horse Hill legal challenge, EA permits and OGA permissions are granted for Horse Hill things will progress a little more swiftly especially with good revenues and profits.
I for one am very much looking forwards to the ties being released on this project to allow it to prosper and grow.
Stopstart
You forget to mention the transition with no new petrol of diesel cars produced after 2030 which may have life on the road for 15+ years.
The materials that are needed to produce all these new vehicles and charging points are also predominantly oil based meaning that unless new production materials are produced oil will be in strong demand well into the next century at ever increasing prices due to restricted new exploration, development and production.
Will Surrey planning committee allow Angus energy to reperforate there Brockham well and produce oil from the Portland while plugging and abandoning there Kimmeridge side track well?
https://drillordrop.com/2021/10/22/angus-energy-oil-production-plans-for-brockham-wellsite/
I suppose that this means that Angus will be looking to raise new funds to complete works following Mirasols comments earlier never mind any plans they may have for Balcombe.
So if the planning committees don't allow schemes with the planning officers recommending them the planning inspectorate are going to be very busy and lightly give big fines to councils who's committees waste there time.
Loxley and the Isle of White councils, NO.1 & No.2. this will definitely have a impact on services provided.