Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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I’m going to take my 60 % stagnated loss and put it back into crypto just to recoup . I’ll be back in a week. No doubt cheaper still.
Keep up the chat. It’s doing wonders !
So richturd has sold @ 0.25 and going to buy back in a week or so..... remember that guys ??
GL Rich.
Hope it works out for you.
Both too risky for me atm.
:)
Welcome back Adrian.................
Let's get the show on the road..nice bullish run to the "TURKEY GUSHER"...."GO".
solid red so far.........................
Danpoo “show on the road “? What happened to “train leaving the station”?
Unbelievable ramping as usual.
Keep an eye on the twitters. Incoming updates from well pad development.
We seem to get weekly updates now and this is showing a degree of confidence from UKOG and the management team again.
Very strong buy at this level... if you want to buy a stock that should easily multibag in the coming weeks and months that is :-)
Oil price is likely to be over $70 for Turkey summer production too :-)
I’ll believe it when I see it... UKOG doing what it does best
Troll hunter. What absolute rubbish you spout. Very strong buy. You’re talking total,blox! I suspect most people here are like me, and lost fortunes over the many years we have been here, while the boss makes fortunes for himself. I remember in the old days, there were hundreds of positive posts per day, now look at the trickle, and yet you still post rubbish, with VERY STRONG BUY. Into the bin where you belong, trying to mislead people into buying this pile of DUNG. SHAME ON YOU.
"pile of dung" :))... why not tell us how you really feel.
'Oil price is likely to be over $70 for Turkey summer production too :-)'
Maybe, and I'm sure those producing in Turkey will be pleased, the question is will there be Basur-3 production this Summer? No drilling is a slam dunk, even an appraisal well has risk. The subsurface structure appears to be complex in this fold belt, though UKOG haven't shown any structure maps, with even the 2019 E Sadak-12 (which UKOG describe as 'the closest producing look alike field to Basur-Resan') being P&A'd dry, and #11 requiring a sidetrack.
.....and yes you have to go looking for this type of information beyond what UKOG choose to mention:- cheap drilling, easy permissions, fast track production, initial flow rates, OIP (mostly in fields a long way away and / or in a different reservoir) multiplied by rule of thumb recoveries.
Scoobs. Cos I can’t spell SH*T.
I suspect most people here are like me, and lost fortunes over the many years we have been here, ...
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Has nothing to do with now, with the price at 0.235p, except that there will be those locked in at higher levels who will be selling into any rise of the share price.
", except that there will be those locked in at higher levels "
yeah about 8 bn shares worth I reckon..................
Ocelot,
The current price has everything to do with 'then' not now. If past objectives had been met the starting point SP would not have been under 0.15p, and the venture in Turkey not needed with 2000bopd at the end of 2019.
When you look at a company don't you compare what they have previously predicted and how they have presented those goals against outcomes to assess whether current expectations are likely to be achieved?
If a company continues to use the same language and selective information does that really indicate change.
There's an interesting statistic (probably what Ozzy would describe as twisted facts).
Production data for E Sadak for the year following E Sadak-11S being put on stream (August 2019 to July 2020) was 226,594bbls, or an average of 619bopd and that's from 8 production wells.
Just in case you think I'm being selective this includes the highest production month in the available data.
Great(ish) if you' ve already drilled 12 wells (plus at least one sidetrack) on a field - at $70 that would have been revenue of 70*226594 = $16,000,000, and maybe 'profit' of about £9mm - or just over £1.1mm per production well, or for 50% £550,000. Unfortunately $70 wasn't the average price.
With UKOG quoting reserves of E Sadak as 28mmbbls. At an average 619 bopd it would take over 120years to get thatmuch oil out - in September 2020 the average E Sadak field production was just under 421bopd.
OIP and reserves are not the only metric to value a company. The NPV going forward UKOG carry for HH-1 (less than £5mm) clearly shows the impact of low production vs a reserve of 600,000bbls (at $70 =£30mm revenue), if the well cost had to be offset against that figure the NPV would have been negative.
If past objectives had been met the starting point SP would not have been under 0.15p, ...
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Agreed, Penguins.
My point is that the share price is now 0.235p so the share's prospects need to be assessed on that basis.
Meanwhile, ... volume seems to have picked up a bit in the last several minutes - 94.5m now.
Ocelot,
The shares prospects ultimately will depend on success in Turkey, not today's SP which can change up and down based on nothing.
The Sp went up over 10 times yet ended up 100th of that. Doubling does not prevent it ending up a 20th.
The SP after the PR 'puff', P&Ds, oil shows, short term tests will eventually depend on success which is not guaranteed, and even success is unlikely in reality to be 100s of millions of 'value' even if $70 times reserves suggests it.
Penguins,
What is stock market investment all about?
Assessing a company's prospects in relation to its current share price.
Agreed. This will never be 100TL never mind 100p
Gbk are you sure it’s not Lenigas?