Well the 5 day shutdown didn't do much to improve volume did it, after a short blip up it's heading down again. |
1347: well, I dare say you’re right. I suppose he wouldn’t have given that scripted interview otherwise. |
JT They wouldn't be discussing it if it wasn't for the benefit of insiders and related parties, that's whose interests they serve and have been doing all along, however we don't know what they are scheming but I expect another dodgy deal of some kind. I have said I expected there would be more corporate activity this year after the director changes |
Another winner for 12M! |
Listen to the interview John instead of spouting your usual pish. Production scaremongering will be clarified. |
1347: it looks more likely to me that UKOG will go the way of AAOG. About time. Anguish shareholders would be bonkers to vote for a merger. Though I suppose all those undisclosed major and minor shareholders in the global re-financing group would have enough votes to push it through if they wanted it. But why would they?
5 days now of zero gas. Probably just part of the the 10% annual maintenance shutdown schedule. If not, there should be an RNS. |
JT, No, he's going to be paid in ShareCoin only, oh the irony. No, £82 k in FY 2023 went to the waste of space 'Chairman' in Texas, there are snouts in the trough both sides of the pond.
With the latest placing it's now over £60 million raised by equity and a further £25 million in payday loans since Sanderson took over.
The only way UKOG survives is if someone is prepared to fund them for another 5 year scam cycle, or someone likes Anguish Energy 'merges' to take over the Surrey Sprinkler at Donkey Hill and the Loxley prospect (which will never be drilled). Where that would leave the Lithuanian Aussie's latest wheeze about the farm in though I don't know.
Of course this is just idle conjecture, I'm sure we'll see in good time. |
Where's your money gone Frank? |
1347: he’ll be an extremely well paid toilet cleaner then. Have UKOG got rid of that Texan Chairman whom they paid $60,000 (was it?) to write an annual criticism of the UK government, masquerading as a Chairman’s report. |
I see that the 'Mutual Masturbation Society' is still going strong..... |
1347: would Brother ‘erbert work for Steve Sanderson?
I think this interview is just another puff piece. Brother ‘erbert, being more ascetic, would probably prefer not to be involved in such a thing. I agree, it’s hard to see how, on the information offered, Angus is in a close period. The Chairman should fill his boots. The Ocebot is being deployed big time in Kansas. Seldom a good sign. More likely another share placing on the way. |
How would UKOG pay for it , magic beans? |
JT Makes no sense as if they are in merger talks to the point that it's a closed period then that ought to be notified to market. Not only that but he's saying he'll buy shares when it's over, at which point what shares would he be buying?
I've said for some time that Anguish Energy was likely being prepped for a low ball take out, who by we'll have to see. It could be Sound Energy again, who are divesting their Moroccan assets. Then again it might be UKOG, which is just about finished and would allow Anguish to become the operator at Horse Hill, which is close to Brockham.
Either way I very much doubt it will be benficial for non-insider/non-related party shareholders. It's just more twists and turns on Snake Pass. |
1347: he also said he’d be buying Angus shares after the current close period. What close period is that? He talked a bit about merger talks, the duration of which would disqualify a Director from dealing, but I’d be surprised if that’s more than a smokescreen. |
1347: he was clearly reading from a script or consulting notes very thoroughly, hardly raised his eyes from whatever he was reading from. The reference to 2 mmscfd came very early, in the first minute or two. I think they’ve stopped production for a week. Maybe routine maintenance (in line with the CPR). But I suppose it may be due to the issues that Bubblepoint raises in Kansas about the balance between gas and liquids needing to be addressed. I agree, if production is currently averaging 2mmscfd, and if this carries on for a prolonged period, they’re in serious trouble. |
JT Sounds to me like he hasn't got a clue, they just told us what production was for the last quarter, the average was 6.4 mmscf/d, is he now indicting it's fallen off a cliff and will be 2 mmscf/d ? If it is they are deeply in the mire. |
134: no, I didn’t catch anything about geothermal.
He said within the first minute or so that they were producing “2 million scuffs a day”. He also said that work was underway on the existing plant but that they expected to be returning it to production again next week. Presumably that explains the recent nil returns. Let’s hope so, or those hedges are going to be a problem again - though on nothing like the same scale as two years ago, when the gas price was three times higher and they were producing nothing. |
 JT No I haven't watched it, I'll have to consider whether the upside of watching Katy is worth the downside of watching some boring oil man with Russian connections (PS: I don't think it's the ocebot, that connection lies elsewhere with more direct vested interests than a few interview fees I would say).
No idea about 2 mmsfc/d, it is already over 6 mmscf/d (or rather was, it seems to be 0 mmscf/d for the last three days) did he explain that?
As for the drills. Well I see there's a new Planning application, I might get round to reading it at some point but I hope they've done the downstream EA assesment because the Supreme court have just overturned two approved plans in a landmark and quite ridiculous judgement, but which I suppose is entirely in line with the increasingly daft, dysfunctional and surreal banana monarchy.
Also the marxist clown, Red Milliband, is trying to stop all drilling for oil and gas in the UK, including the North Sea for extant licences where companies have spent a fortune on platforms. One way or another I don't see them drilling Poundland in early 2025, even if they could find the funds, which they clearly don't have.
Talking of which, so they are now talking about a new Now You Can Borrow Enough to Get Competely Out of Debt Loan, to subsume the current Now You Get Completely Out of Debt Loan which subsumed the Bridge Loan Too Far, which subsumed the Nijmegen Bridge Loan needed because the Loan They Didn't Need wasn't enough to get to first gas? Spivving show, what, what? No mention of GeoThermal Rainbows on the horizon? |
2mmscfd.... maybe a little low, not high, what? Where did he get that figure from? |
 1347: have you watched the Zielicki interview? Absolutely hopeless. They’re going to drill more wells and re-open an old one, which will add hugely to gas production, install a booster compressor this year, which will add hugely to flow rates, pay a dividend, merge with other AIM companies, produce more oil at their existing oil assets(!) and borrow more money from Trafigura and Kemexon. He himself will be buying Angus shares at the end of the current close period(?). They’ve got excellent, experienced management with a combined 200-300 years of experience. Then they’re going to talk to the new Government about gas storage at Saltfleetby. And he also said they were producing 2mmscf/d. Does that sound a little high? Not a word about hedges, offtake agreements, royalties etc. What have I left out? Oh yes, he said that at current rates of production, they’ve got 40 years of gas reserves at Saltfleetby. That’s the statistic that would worry me most! They’re shut down at the moment, plan to open to production next week.
The gorgeous pouting Katy (Ocelot?) lapped it up. Perfectly hopeless, he spent 95% of the interview looking at his screen or notes. |
Gas has gone, what have they broken now? |
JT Yes it is, they are supposed to check the accuracy of the report, it's in the notes not a Director's statement, which forms part of the financial statements that they've audited, although their disclaimer on page 6 means that they are not responsible for any mistakes, even if they are orders of magnitude out it seems. |
1347: I don’t think it’s one of the auditor’s functions to proof the Directors’ statement, is it? Nevertheless, it should be back to the scriptorium with Brother ‘erbert, nonne ita est?
Yes too, he’s probably peddling this round anyone he thinks may be interested. Pedalling hard to stand still must be a bit of a strain. |
JT Ah yes, sloppy companies employ sloppy auditors, basically it's very difficult to have any trust in anything they publish.
Oh and I don't think 'erbert will be able to peddle any faster than the Earl of Hazard that used to hold the pen. This is being primed for a low ball take over or de-listing is my bet, hence why the share price was dialled down to 0.4 p.
A few more twists and turns to come on Snake Pass yet though I expect. |
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