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Ocebot writes "The world’s largest independent commodity traders see oil prices rising further this year as demand continues to grow and supply remains constrained."
1. The company experiencing the biggest restraint in supply of oil is in fact UKOG itself, because it barely produces any.
2. As I've stated before, today's oil price is irrelevant at any level if a company has next to no oil to sell.
C'mon shills... surely you can do better than this?
The world’s largest independent commodity traders see oil prices rising further this year as demand continues to grow and supply remains constrained.
Yet as top executives from Vitol Group, Trafigura Group and Glencore Plc agreed on the direction of the crude market, they also differed over the size and duration of the rally.
Brent crude, which has already reached a two-year high of $73 a barrel, could rise as much as $5 in the coming months, according to top oil trader Vitol. Yet the second-biggest player, Trafigura, predicted a new commodity “super-cycle” that could take oil to $100 a barrel and see a further a surge in metals prices.
Their difference of opinion goes to the heart of the debate about the state of the global economy. Where some observers see a new era of high inflation due to surging consumption of scarce raw materials, others see temporary imbalances in supply and demand that reflect the shock of the Covid-19 pandemic and the subsequent rebound...
https://www.bloomberg.com/news/articles/2021-06-15/world-s-top-oil-traders-see-prices-rising-even-further-on-demand?sref=Em01M8Hr
I think UKOG is undergoing/has undergone a quiet transformation which, in their own inimical way, derampers have just confirmed, by complaining about the absence of the next placing.
Swampys on here must have drunk a lot of scrumpy today talking s... as they do... if Angus and bpc/challenger can get money I'm sure ukog won't have a problem either..imo
...but it depends who holds the cards as to what the highest price UKOG can get away with is.
UKOG definitely need the cash to fund its obligations under the agreed work programme for the Resan Licence, and you only need read the GM notice, not this board, to know that.
...and the company will want the highest price it can get away whilst ensuring the placing is a success.
Ocelot,
there's a difference between saying a placing is coming, because the company has said one is and has said ir needs one, and wanting one to happen.
No great hurry - or unable to get one away even at a discount to the current SP? Unless you are party to their efforts you are, like me, just guessing - but unlike a seller a buyer of billions of shares will want the lowest price possible?
It's amusing, for ages the complaint was about the number of placings being made by UKOG and now, the complaint is about ... the absence of a placing!
All in good time, UKOG give the impression of being in no great hurry, they are better-placed than anybody on this board to know how things stand.
Relax and see how things develop over the next few weeks and months.
Penguins the mess this company IS in no volume how do they get a placing away
Despite the OP it's pretty clear that the SP is dropping with the 'real' spread 0.18p to 0.185p. Only 5 trades out of 74 (and less than 2% of the volume) have been above the mid-price of 0.185p today, the last just after midday.
UKOG need to get on and do the placing - I suspect a placee won't be wanting a price based on the rig arrival P&D as every day that passes sees an ever lower 'bargain' price - but maybe that's all part of the plan to get a placing away.
And probably won’t going by it’s past “successes”.
At the very least, waiting for the placing that the entire market knows is coming is the most sensible thing.
Pointing at today's oil price and claiming that this is "more profit" is of course utter nonsense. To state the crushingly obvious, in order to be able to profit from the rising price of oil, one has to actually possess meaningful quantities of it for sale.
Not a position UKOG finds itself in at all currently...
trillhunter
Is that price for buy, sell, fob, cif or cfr?
I am waiting for the placing at first then I buy
I can't see your post but, from your title-heading, I'm guessing you must have Mirasol filtered.
I recommend you don't.
You might learn something and your headings might not seem as dumb in future.
Probably the only fact posted here amongst all the trolling today :-)
https://oilprice.com/