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Heid thats was so obvious so please dont claim you forecast it , I forecast it would rain today
Heid Oil Sunday afternoon post quote :
'I could see the UK being forced in to making an interest rate hike soon. '
BBC News just in :
The Bank of England "will have to act" over rising inflation, governor Andrew Bailey has warned, suggesting that UK interest rates may rise soon.
Mr Bailey said surging energy prices would push inflation higher for longer than previously thought.
In the meantime..a little bit of profit taking on Brent ready for the next leg up to 90 Dollars.
Stick that in Brokerman Daniel's inbox boys
Brilliant James
Mirasol...we joined the EEC (forerunner of the EU) in 1973, and it was sold to the British public as being for free trade and commerce between European countries. No where was mentioned about the take over politically of member sovereign countries ability to rule themselves. Their petticoat has been showing for all to see in recent months. All Empires have a shelf life and the EU is no different.
As the pop group the Who sang..... 'we won't get fooled again'.
"I think all but blinkered remainiacs can see that the E U is in terminal decline,"
people have been saying that every year since 1960......... I'll bet we'll be back in in 30 years time
I guess I am showing my banking days there persimmon.
Send me a direct message on my twitter as I would enjoy chatting with you further so as not to take up this board. Russia, China all fascinate me immensely.
https://twitter.com/Heid_oil
Heid, I'm no economist but from what I hear a small amount of inflation is not a bad thing.
As regards the Euro it's a well known fact that the European Bank is keeping that currency artificially propped up with QE greater proportionally than of UK QE. Our pound at least is now not going to subsidise 'hangers on'.
I think all but blinkered remainiacs can see that the E U is in terminal decline, with great problems piling up, least of all those from member states in the East. France and Germany starting to fall out about who wants to be 'top dog', or as far as Macron is concerned 'top gun'. Best ploughing our own furrow.
OMO
Hello persimmon,
I have presented my revenues the same as the UJO RNS dated 21st September in dollars net to the company.
I anticipate some outstanding numbers for Q4 2021 and Q1 2022 with momentum will continuing in to Q4 of this year with rising oil prices with demand set to exceed 1mln barrels of oil/day.
Also, I see an interesting week to come with Chinese GDP numbers to come out. UK inflation numbers out for us on Wednesday. I could see the UK being forced in to making an interest rate hike soon. To me we are vulnerable to stagflation. When we was in the EU we could benefit from our own currency going between the dollar an the Euro. Now, we have to sort our own expenditures with the pound and our inflation pressures are higher. Obviously we have just come out of Brexit too. Weighing things up I do tend to swing towards interest rate increases. Lets see how right i am ..again.
Hi Heid
Do you think that although oil is priced in dollars it would be better to convert it to pounds sterling when presenting revenues?
For example one million dollars is about £727,000 pounds at todays conversion rate.
Also, is this sum Gross or are all production costs already discounted and the £727,000 in NET of ALL overheads, and if not what are the likely bottom line figures?
Thank you.
I do not know your game here, yet again, Mirasol but whether you like it or not Wressle IS producing and by my calculations must have netted Union Jack Oil the first million dollars. The last RNS was 21st September which stated since production 19th Aug (65.43 $ oil) has netted UJO 480,000 $ net. One month later of production, an oil price now at 85 dollars and rising, I see at LEAST two million dollars profit by Xmas. Now if production increases from the works taking place this could be substantially higher.
Wressle is on test - not official production . We all know that this may or may not continue at these levels
Egdon have bene around for +20 years, always are able to raise money without a fuss and have a couple of very large long term shareholders
UJO aren't operators and so are at the mercy of others - especially those fine folk at Reabold
Your choice
Union Jack Oil are receiving the revenues from approximately 250-300 bopd from Wressle, 10-15 bopd from Keddington and half a dozen a day from Fiskerton. They are receiving interest on the loan of one million pounds to Egdon and whatever is being returned from the royalties. I know who I would prefer as the safest long term investment and the one most likely to prosper.