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Penguins,
The front wheels are up only on the tractor, down on the trailer. Perhaps it is you who needs to try a bit of research.
Penguins,
I accept the point you're making, but the video I was commenting on was the latest at that time.
I saw this stock as one of the biggest traded yesterday, it grabbed my attention and drew me to open an account on LSE. I've not done much research on this one yet, and will not be buying in until I have.
Just looking through the board, some interesting points raised. I look at the most recent one from Penguins, who stated "btw only 500,000 more barrels needed to make the $4 saving per barrel worthwhile". Well I have to disagree on that point Penguins. The company has raised cash and is using that to reduce their opex costs at the site. That cash was raised through a placing with institutions/pro investors, and not through PI's. This is of course leading to further shares in issue, a whopping 2.1 billion of them if all are taken up. But from a business perspective, UKOG will benefit greatly from that reduction in opex charges. The value of the stock, the MCAP, the SP, none of those have any material meaning from a business accounting perspective. The number of shares in issue and the value of them is not a primary business consideration. The fact is that UKOG will be able to register higher profits given the reduction in opex, that is a benefit to them at the cost to the shareholders. I see that the SP was around the 0.25p mark before the RNS, and now is at 0.21p, so the shareholders are looking at a paper loss of just under 20% as a result. But look at it from UKOG 's point of view, as a business they just put the wheels in motion to get rid of that CLN provider, to buy some equipment that was previously rented, and to make some funds available for the preparation of the next site. Simply put, UKOG are already reaping the rewards of the cash being raised from the placing; it is a short term paper loss to investors. The 500,000 barrels to break even is a pointless claim; UKOG are not out of pocket, only investors are looking at a paper loss. However, I will balance that paper loss with the future benefits to the shareholders of there being no CLN and the prospect of higher profits as a result of the reduction in opex.
My only concern, looking at the RNS's and the placings from 2nd Dec to now, it seems that each time they raise cash it is to invest in doing pretty much the same thing, viz, getting this HorseHill site into long term production. This latest one is slightly different though, as the cash is mostly being used to improve the financial position of the company rather than investing in putting the site into production.
Look at it whichever way you want, I need to do a lot more research, just a couple of hours in and my notes are looking for answers to a number of questions, a few warning signs (e.g. no share purchase by the board members), but also some considerable prospects of decent short to medium term returns on a small investment.
Look forward to some good jibber jabber here.
dALLIANCE,
Perhaps you should try research as my point was that wasn't the 'twitter latest'
but as I'm replying:-
https://twitter.com/Anton13579/status/1268819538621186048
Penguins, you stated earlier:- "Not really the latest as the tanker was videod leaving with 'wheels up' ie not full."
Really? Where can this be seen please as the tanker was clearly arriving at site, not leaving.
Free money,
You have looked at other tankers, presumably full, which do have the tractor unit wheels down
eg https://mobile.twitter.com/johnrog94359745/status/1262392264824958983
or this one: https://mobile.twitter.com/Anton13579/status/1268454373245452288
I didn't say it was empty just the wheels were up - you presumably, because of your 'explanation' agree one set of wheels were up?
Trollhunter,
You will grasp at any straw thrown at you, and btw only 500,000 more barrels needed to make the $4 saving per barrel worthwhile.
Sorry Oldbury.
I know you've only just started posting, and are probably making things up as you go along, but you could have picked a better name.
I'm just sorry if you really do live in Oldbury!
Agreed wheels down and tanker full of black gold, Pingu trying to misslead and twist the facts for her own personal agenda as usual.
On another positive Brent is now over $41 !!!! ..... UKOG cost per barrel $13 and profit per tanker increasing :-)
Wrong, wheels were down on the trailer.
One set of tractor unit wheels were up but they always are for oil tanker trailers.
The trailer wheels are the important ones, one axel up on the way in but all three down on the way out this morning.
So full of oil as usual and pump working fine!
Mullins,
Not really the latest as the tanker was videod leaving with 'wheels up' ie not full.
So is another shut in of HH-1 looming while they take off that nice new super pump they only stopped production last week to install, to perform a re-reperforation of the Portland - is that because they found out the old pump wasn't the problem but the reservoir was?
Looking forward to announcements of initial rates and then silence.
Phil,
Worst case? They were maximum number of tankers, not sure that represents a 'worst' case. But that was 25% reduction in the first 4 months.