Uk Oil & Gas Share Discussion Threads

[iammrweald] 01/7/2024 15:36

Beware of false 'profits' bringing gifts! Fig anyone? he he ha ha

[iceagefarmer] 01/7/2024 12:50

placing coming

[bionicdog] 01/7/2024 12:16

As if they would let this bunch of clowns anywhere near hydrogen.

[jammydodger2] 01/7/2024 08:34

HH production for April 35 bopd

[25wbh] 01/7/2024 07:18

Good morning all ,Gismo , Rayrac Hans ,Iam ,and all my usual friends

[iammrweald] 01/7/2024 07:06

Come back in 5 years....or a few months when the cap comes out as ukog reach 1234567b shares!

[bittorrent] 01/7/2024 06:54

From the Telegraph:
"Vast salt caverns designed to store hydrogen are to be excavated under Britain’s biggest former naval base as part of plans to bolster the country’s energy security.

Each the size of St Paul’s Cathedral, the 19 caverns will be dug under Portland Harbour in Dorset and filled with enough hydrogen to fuel a power station for days.

The hydrogen contained in the caverns will be reserved for emergency use and called upon when wind and solar farms are not generating enough energy to keep Britain’s lights on.

Claire Coutinho, the energy secretary, is said to have not only backed the scheme but also altered the Government’s hydrogen storage business policy to ensure it can secure taxpayer subsidies.

UK Oil and Gas (UKOG), the company behind the scheme, has said it will seek planning permission within months.

Stephen Sanderson, UKOG’s chief executive, has said he would make the application under the Government’s nationally significant infrastructure system, allowing it to bypass potential local opposition.

He said: “Portland Port is ideally situated for the construction of large salt caverns as it overlies a 450-metre thick, high-quality rock salt.”

Mr Sanderson added: “I have enjoyed one-on-one meetings with the three key figures from the Department for Energy Security and Net Zero, including Secretary of State Claire Coutinho, Lord Callanan, Minister for Energy Efficiency and Green Finance and Graham Stuart, Minister for Energy Security and Net Zero.”

[1347] 29/6/2024 11:25

It's clear the second and third tranches were not drawn down, the interims show that. Out of the original £2 million tranche they only received £1,882,000 last year and out of the placing this year just £705,000. So they spent £163,000 on finance costs in the last 9 months.

The revenue is nowhere near enough to cover operating costs, they are cash flow negative by quite a bit and there is no prospect of that improving. They will be out of cash in July, i.e. pretty much anytime now, by my calculations so unless someone stumps up a decent chunk of money (why would they?) they are toast.

As well as the payday loan they also still owe (via HHDL) £3.14 million to the non-controlling interests, namely Doriemus and Alba, I can't see how they'll get that money back, I doubt they'd take shares for cash.

They'll probably try another heavily discounted placing to keep Sanderson's snout in the trough a few months longer, but it won't raise much or change the fundamentals, but rather just delay the inevitable a little while longer.

Anyone saying differently is either a moron or a lying shill or both, the figures show you that, anyone can read them. I'd avoid the rope a dope game that comes before these placings, unless you like throwing good money after bad. I see zero prospects here at all.

[bionicdog] 29/6/2024 10:55

iceagefarmer 23 Sep '23 - 19:30 - 161471 of 162950

big dave lenigas is a stock legend..took ukog from 0.05p to 10p..can do it again

[kemche] 29/6/2024 08:50

Coiled spring.

VIVA!!!!

[jammydodger2] 29/6/2024 08:22

"In June 2023, the Company secured a £2 million facility with RiverFort Global Opportunities PCC Ltd and YA II PN Ltd as working capital for key activities in Turkey, Loxley, and hydrogen storage. At 31 March 2024, the outstanding loan balance was £0.66 million.

In January 2024, the Company successfully raised gross proceeds of £0.75 million by means of a placing of new ordinary shares. To further progress its planned hydrogen storage projects, the Company will likely be required to raise further funds by the end of the third quarter this year."

A clear indication that the 2nd and 3rd tranches were never taken up and Q3 is not that far away. Not sure "likely" is the term I would have used. "Will" would have been better.

[ny boy] 29/6/2024 01:43

Going the sa way as TRP, a series of dead cat bounces to zero

[1347] 28/6/2024 21:40

Jt I'm not sure they'll last 3 months. Interims out today, £952 k cash 3 months ago and cash flow negative, must be on fumes by now.

[bionicdog] 28/6/2024 15:36

ice
If only someone had warned you several years ago.

[jtidsbadly] 28/6/2024 15:27

1347: what were investors expecting? there’s no surprises here, just a lot of hot air re hydrogen etc. more money required within three months. Hang on to your hat if you own this.

[iceagefarmer] 28/6/2024 15:24

Cash is nearly gone...Today 13:28
Cash as of March 30th: £952k

Cash burn on operations: £574k/6m => £95k pm

Cash burn on investing: £945/6m => £157k pm

Total operating and investing burn per month = £252k pm

=> enough cash for 952/252 = 3.7 months

3.7 months after March 30th is end of July 2024

At current SP, after paying off RF/YA a placing of all authorised shares at only a 20% discount they would raise about £200k, not even enough to survive one more month.

A multi-million fundraising is coming!

[1347] 28/6/2024 08:41

Another meaningless RNS. Not sure what this is based on, the updated Star Energy D&M Report was published on 31st January 2024 so either they have done another one or ShareCoin Sanderson is just cynically exploiting it for a pump and dump of the CLN conversions. In any case it represents an increase of just 6,900 barrels, nothing to write home about.

[25wbh] 28/6/2024 08:27

Good morning all, Gismo ,Rayrac Hans l Iam, and all my usual friends

[jammydodger2] 28/6/2024 07:35

When they start ramping an increase of £11k a year you know things are getting tough at UKOG HQ.

[jammydodger2] 27/6/2024 16:55

Another 2 ATL in 1 day. 0.017 then 0.0165p. Won't be long before it is under 0.01p