Operational Update and Warrant Exercise
Yesterday’s UKOG was released after market trading hour’s ‘Operational Update and Warrant Exercise All flow test regulatory permissions in place, work continues to “complete” the well followed by a rig-less flow-test. Preliminary log interpretations, an application to extend the exploration/testing phase for a further year submitted to West Sussex County Council.
The standout update for me was in the ‘Other Business’ first paragraph of the RNS. You read the head line correctly, the French have landed and the question l am asking? Are the Bouygues family investing or making a move on UKOG?
Share Talk last covered UKOG with an In-Depth article on 25 July Share Talk highlight Oil & Gas AIM-listed companies: Part 2
Yesterdays RNS is worth commenting on, not just because of the usual market updates, it is the Bouygues brothers increasing their position that caught my attention. They are a shrewd pair business men who have a very large business portfolio.
The image above – update on my personal twitter account this morning before the U.K markets opened said it all, it was so stand out that l had to read it twice!
WHY would a privately owned French company who trade in the U.K under the company registered business name SCDM Energy Limited take a 5.03% position in a London listed company?
Martin Pierre Marie Bouygues & Olivier George Rene Bouygues
SCDM Energy Limited: 50 Cannon Street, London, EC4N 6JJ
SCDM Energie SAS owns and operates a natural gas field and engages in the production of natural gas. The company was incorporated in 2006 and is based in Paris, France. SCDM Energie SAS operates as a subsidiary of SCDM S.A.S.
Headquarters: 32 Av. Hoche Paris, Île-de-France75008, France.
The markets reacted and share holders who were holding on the close of play yesterday woke up this morning to a pleasant surprise with the SP Open 7.375p and within the first 15 minutes, it had hit a High 9.25p. With volume putting UKOG on the leader board once again today for trades, liquidity. I think the knockers better not underestimate Mr Sanderson & Co, we all know if planning permission is granted this month, September, UKOG will be back on the leader board.
16:15 pm U.K. London
We will be watching for UKOG next update and it will be interesting to see if our French cousins decide to make a move into the Weald Basin, l guess only time will tell?
Further details can be found on the Company’s website www.angusenergy.co.uk
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