Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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In order to benefit from rising oil prices the company needs to produce oil.... Something ukog has been struggling to achieve for the past few years...... Price of oil is irrelevant to ukog... Remember when SS was promising you lot " good cash flow at $40 pb and retirement in the Bahamas with oil at $50"?
"ivans
Today 01:13
Posts: 3,339
Price: 0.1075
No Opinion
despite new variant, oil price will rise rapidly.
buy cheap oil stock while still cheap :)"
Yup.
I did.
When they were cheap, October 2020.
Already up 75% and still holding.
Not UKOG though, obviously.
:D
They have had their fair share of setbacks, there is no denying that, and the delays of the regulatory regime are unhelpful and expensive (but there is nothing to be done about that except to go elsewhere).
Re HH, we continue to await the necessary permissions.
Re Loxley, we continue to await the appeal decision.
Ocelot - I have no idea if they will flow oil in Turkey I keep waiting for some kind, any kind of news but the surrounding area doesn't fill me with a great deal of hope. But I see you've not mentioned the UK - sad isn't it, there's really no hope, unless they put up a wind, solar farm or a swampy commune.
gwilliams,
If you believe UKOG will fail to produce oil in Resan, then, of course, you are right.
Otherwise, the oil price and projections provide the context in which to assess the potential value of any oil that does flow in Resan.
Ocelot you seem to continually miss the point when it comes to forward price projections. That is - to capitalise on the underlying price of a commodity you have to be producing it at significant volumes (and more than enough to cover costs).
UKOG is still not doing that and whilst i hope it does, in the meantime my 1million shares are worth next to nothing, so really it's a total waste of time talking about JPM forward POO or gas predictions.
Penguins,
Shooting seismic is one thing. However, they did "attempt" to drill Basur-3, how far did they get before having to abandon that drill, did they reach the target depth or not? Did they not then log the well? Would logging the well not give them the necessary insights for a sidetrack and targets? Is the seismic just a smoke screen to delay the next stages of Turkey (or dead duck as I refer to it)?
Ocelot,
That's 2 'ifs'
If JP Morgan are right and,
If Basur-3 is successful. So far they aren't sure of the structure, having stopped drilling to shoot some more seismic, let alone if there's any oil they can get out when they get to the reservoir.
Sorry that's 3 ifs.
Ozzy,
Yes that was much easier to read though the content was odd.
I am very sorry about my bad spelling (see it's not hard to apologise). The reason I bring up Adrian's spelling isn't the spelling per se but the fact that it further demonstrates it is him posting.
So you've changed tack - now I presume you're contending that the 'diligence' bit in yoir 11:39 post wasn't in reply to my 11:04 post because the bit before could be about comments and research in general, not the comments and research in my post.
Of course it 'could' but then I can only go by what you wrote in a post starting 'Penguins, thanks for that', not what you say you meant.
I offered an olive branch - you just wanted to keep digging.
I'd prefer not to but if you keep insisting I deliberately misunderstood your post I'll keep on pointing out it was ambiguous and I was genuinely responding asking what in the post was over negative you've now explained it wasn't so you've actually answered my question - thanks.
"I can draw but one conclusion. Ocelot is a paid ramper or an employee of UKOG."
Agreed - as he/she also posts on ANGS etc (in exactly the same way) I suspect its someone at a related party to both of them, not a full-time employee of either. Always polite, measured (unlike Raving Adrian) so a professional. The give away to me is that he/she never utters the slightest reservation about the BoD of any company, the dilution, the lack of interviews etc
I can draw but one conclusion. Ocelot is a paid ramper or an employee of UKOG. There is no way on this planet that a well researched PI would make such claims about Turkey. $15 costs is by the by. The issue is that there is no oil, no seismic, and surrounding plays deliver <50 bopd per well with a very steep decline. Transformational it is not, unless you are the CEO, in which case the funds from PI's go a long way to cover his next couple of years as he "works" to retirement.
All in my opinion of course.
Speaking of CEO's, where is he? When is the last time he did a proper interview and answered the clear and obvious questions? Clearly doesn't give two hoots about Shareholders (i.e. owners) and the Chairman is too weak to do what is necessary.
"UKOG's prospects will be transformed."
ocelot - that's ridiculous - they have to find the oil - and it won't be very much as people keep pointing out - and 100 bopd from HH is insignificant
If JP Morgan's oil price forecasts are anywhere near being proven correct, then UKOG's prospects will be transformed.
With operating costs of about $15 in Resan, the operating margin of Basur-3 with an oil price of $125 becomes $110.
and $150 oil in 2023 (JP Morgan)
despite new variant, oil price will rise rapidly.
buy cheap oil stock while still cheap :)
https://oilprice.com/Energy/Energy-General/Oil-Prices-Projected-To-Hit-125-In-2022.html