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Ohmetoe
Just thinking even the reaction from David Bramill at a interview at the investor show last year with the ironic comment of hands up for remain says it all really.
Even with the oil price falling this is more than being made up by the level of the pound against the Dollar at about $1.20.
Yes Wizard that was the link i read through, found it an interesting read and pondered the irony of Brexit being beneficial to UKOG and other minnows.
Fact is UKOG have oil and lots of it , along with regular tankers and cashflow the future need for dilution is diminishing.
Cheers seadoc, well here's to another bull run.
How many shares were in issue when ukog last multibagged a couple of years ago?
Ohmetoe
The other consideration is that once the CPR for Horse Hill is released UKOG as the operator can can raise funds to develop its other assets from the net asset value turning the value from £15-18 in the ground into about £40 per barrel of oil after costs.
Happy days ahead.
robone, SS has stated that oil is delivered to Hamble and sold at the prevailing rate less a small handling charge. Regardless of the technicalities of the trades I think everything is starting to come together and am optimistic for the future. Good luck with you investment.
Idespair
Thought ukog sale oil in batches waiting for the best price....but hey ho might be wrong as have not followed it in every single detail.
We can agree that ukog will benefit from brexit and I am more interesting about macroeconomic influence of brexit over the whole UK stock market.
robone, if the pound plummets ukog would be gaining not losing and yes they are selling oil on a daily basis.
Idespair
It is all about exchange rates so ukog will not lose much when/if pound plummet after brexit we still will get eqwivalent of value in dollars but still subject to timing of exchange.
Idespair
Sorry for misunderstanding.
Commodities are trade in dollars are they?
....ukog is not selling oil on daily bases, can wait for exchange rate to stabilized.
robone, why would we be paid in dollars?
Newboy125
Look how many big company's bankrupt, far more depparting or planing to depart to mainland, won' t even mention London city which will shrink for benefit of Frankfurt Stok market so local council might be put next to wall just because job needs.
Newboy58
Who knows......government may override it.
It is just the law which can be changed.
I believe that some of us still underestimate implications of Brexit.
From the other hand there won't many save bets after the brexit, remember we are paid in dollars and pound value factor might be very interesting when brexit dusted.
IMO the buck stops here:
Board
Allen D Howard Non-Executive Chairman
Stephen Sanderson Chief Executive
Kiran Morzaria Finance Director
Nicholas Mardon Taylor Non-Executive Director
Management :
Matt Cartwright Chief Operating Officer
Kris Bone as Operations Director
Not sure what happened to Rob Wallace and Matt Cartwright has changed title to Commercial Director in early June.
Only the CEO and COO have any real say in the day to day running of the business. Poor choice in choosing Consultants preparing the documentation for Planning Meetings is what causes the delay. The Councils have checklists and if the Companies don't meet them the documentation gets sent back until it does.
Don't even ask about the experience of Council Staff with O&G experience. Even the OGA are predominantly Civil Servants with experienced O&G personnel in key positions.
Ohmetoe
With regard to your comment about a buyout of UKOG.
I think the company structure would allow a sale or buyout of individual parts without the need for the sale of the whole company.
The other option is farm outs forfaster development.
MRPlumper
I can but I can not guarantee that the UKOG share price will be where it is now.
Forwarnd is forarmed imo.
Gl.
Oh give it a rest, the hold up is always Surry County Council, not the EU...
Wizard125
Good point.....hope development will speed up after the brexit and possibly we finally get a rid of red tape.
Ohmetoe
I presume the report you are referring to is detailed in this article.
https://www.ft.com/content/e634753c-c401-11e9-a8e9-296ca66511c9
The UK will not need such large emergency reserves ones UKOG has published it's reserves in thee Weald & IOW.
Before UKOG pay a dividend i think you will see a buyout before that.
Cant see a small minnow with several large acquisitions of oil on the UK mainland operating alone unnoticed.
Especially with Brexit looming and the Brexit report regarding oil reserve's
Wizard
Would you post that again in about five or six weeks time
You never know i might start to believe it then
One day UKOG could be paying a 1p or more per share dividend every year.
A great reward for loyal UKOG supporters who have been though thick & thin with the company who have no debt at present time to repay out of revenues.
This will make the growth & rewards all the sweeter when they come.
Hopefully sooner than later when the NAV kicks into take the strain!