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How long before high costs of production at USA shale fields lead to large scale shutdowns of wells there.
Average production break even costs for USA shale horizontal wells are considered to be approx $60+ per barrel as of August 2019 with the most economical being $40+.
The
Seadoc, you said an immediate placing was needed "just to keep the lights on" in June. The £2million placing was in December, that was six months later. The CLN was for the £12 million purchase of Tellurian 35% of HH Licences after the accounting period, not to "just keep the lights on". Some of it paid with the £millions you claimed had already been spent. The same money can not be spent twice.
More waffle to try to cover your "miscalculation" of the existence of the £10.7 million in cash you claimed had all been spent prior to June 2019.
PCS, it seems obvious that seadoc does not really have any real understanding of company accounts.
Shows why he was so dramatically wrong with his claim last year that Ukog had no cash left and would need an immediate placing "just to keep the lights on". The next day the published accounts showed Ukog had £10.7 million in cash.
He waffled for months trying to justify his ridiculous "calculations".
According to Bloomberg today Saudi Arabian economy requires an average of $84 per barrel to meet its current budgeted government expenditure and was already running a significant deficit when oil was $65 a barrel.
It can not allow the oil prices to stay very low for too long.
Ibug, so the link you provided in your post had nothing to do with the date change that was the point of your post. The
Seems more likely you got your links wrong, maintaining your 100% getting it wrong record.