Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Ocelot - you do not post often enough - you should be updating us every 1 min on what the price of oil is. Get a grip man - it makes no difference to UKOG as they only produce 1 tanker a day (and that is questionable). As I said many moons ago - not even enough to maintain the 3 in 1 oil sales in the uk..
HH1AN2,
Don't forget they also need OGA approval to convert HH-2z into a water injector.
At 3 tankers a week, The Dear Leader (praise be his name) would be getting paid more than 10% of that revenue.
Is UKOG paying him enough?
Oil at 90 dollars will give us about 20,000 dollars per tanker..
Futures in New York rose as much as 2% with the global benchmark touching $90 a barrel for the first time in seven years on Wednesday. Inventories at the largest U.S. oil hub fell 1.8 million barrels for the third week in a row. The oil market’s structure has surged in recent days, signaling tight supply.
Prices are also moving on mounting concern over a possible Russian incursion into Ukraine, with U.S. President Joe Biden saying he’d consider sanctioning Vladimir Putin if the Russian leader orders an invasion. While a potential conflict carries large risks for financial markets -- especially energy commodities such as natural gas and oil -- Goldman Sachs’s base case is for no disruption to supplies ...
“The market has basically been in persistent undersupply since mid-2020, thanks to OPEC+ cuts and a continued oil demand recovery,” said Helge Andre Martinsen, a senior oil analyst at DNB ASA. “We fully acknowledge that the world is not running out of oil resources, but we might enter an oil-market squeeze triggered by too little investment and oil demand rebounding quickly.” (from Bloomberg)
$90.08
If they average $85 for the month they will reach the same amount of sales for the month as they did in March last year imo.
$89.07
It is 9 months since the consultation closed. Perhaps there are difficult ongoing problems as the resolution time passed ages ago.
When the Environmental agency finally give the green light then ukog can get on with producing a lot more oil at horeshill.. but as usual uk very slow at permitting anything useful
It would be great yes........................but for the fact that UKOG seem unable to produce significant amounts of said commodity :-)
Oil prices on the rebound looking great for us shareholders sooooon! Gla invested.
"2nd Oct 2020
UKOG intends to take an active technical role in the Licence's 5-well oil appraisal and step-out exploration drilling and 2D seismic programme, which, Covid and weather permitting, is expected to commence this year."
yeah but they realised they needed new seismic when they suspended the well in late July 2021.......
SS doesn't need seismic, he has an old pocket watch and a crystal ball. He learned some skills from an old French chap who could detect water even when drunk.
SS planning a trip to Turkey, hoping that AME have a license to bottle and sell the water that they'll produce.
Wait, you didn't think that SS could find oil did you? He's not found commercial oil in any of the UKOG drills (all 3 of them, HH2z, BB, Turkey).
I'd avoid buying UKOG bottled water though, it'll probably be 4 times the cost it should be, which in itself is a reflection of the salaries of those on the board.
*Maybe you should expect ALL drills to use proper data before they use PI's cash and huge dilution. That would be my expectation too, but SS knows best doesn't he, and the rampers here will tell you that he's as good as Boris J is as PM.
- all in my opinion of course -
2nd Oct 2020
UKOG intends to take an active technical role in the Licence's 5-well oil appraisal and step-out exploration drilling and 2D seismic programme, which, Covid and weather permitting, is expected to commence this year.
Perhaps someone could ask ocelot what the prospective production levels are for Basur, if it's successful, as UKOG has avoided any mention despite the operator, AME, being the operator of the E Sadak field which is along strike of the anticlinal feature and that field being described by UKOG as a geological and producing lookalike to Resan / Basur.
Perhaps because UKOG's share of initial production rates if similar to the E Sadak wells would be similar to their share of HH-1 initial rates, with similar decline rates.
Perhaps also why they didn't mention the risk involved in proceeding with the drilling prior to acquiring more seismic, something AME had also established from wells drilled in 2019 and 2020 on E Sadak that required sidetracking.
and why ocelot claimed that the seismic acquired recently was being interpreted in Octobet?
20 Jan
Seismic survey continues ahead Basur sidetrack drilling. Key lines acquired ready for processing ... before snow arrives
We are approaching the end of January. Basur sidetrack drilling is in the near term now.
"They did well to achieve this before the snows arrived:"
They've had over 7 months to do it Ocelot
They had 5 months to do it. But then again why is it no surprise it took so long.
They did well to achieve this before the snows arrived:
https://twitter.com/ukoglistedonaim
gwilliams71,
It's not current production levels that are of interest but prospective production levels and operating margins from SE Turkey, ie. it's not the present but the near future that matters (imho).
How is this relevant ocelot - please explain? We do not have significant production of oil. Or gas, or anything else. The company changed it's purpose some years ago from exploration to production and since then it's producing piffling amounts of hydrocarbons. I cannot for the lift of me understand why you keep posting about the underlying price of an asset that we simply do not produce in significant volume. Might as well post the value of gold in case they find that in HH..... Oh - now there's an idea
Another pointless copy and paste Ocelot!
The oil market is running out of sellers in its surge to almost $90 a barrel.
Whether it’s speculators, traders hedging their barrels in storage tanks or U.S. producers, some of the biggest drivers of bearish price movements have all retreated in recent months.
As global stockpiles fall to seven-year lows, traders don’t need to sell as many futures contracts to hedge those supplies. Producers in the U.S. shale patch have shown little sign of looking to lock in future sales, according to several derivatives brokers over the past week. Meanwhile as calls for $100 crude mount, speculators have turned increasingly bullish on prices, shying away from short positions.
“The market has run out of sellers,” according to Ilia Bouchouev, a partner at Pentathlon Investments and adjunct professor at New York University. “The largest player in the futures market is the inventory hedger. When inventories are drawing they cannot hedge.” ...
https://www.bloomberg.com/news/articles/2022-01-24/oil-market-runs-out-of-bears-in-its-surge-to-the-brink-of-90?sref=Em01M8Hr