Member Info for ChasPB

WTI = $116.13

[Now UP $40 per Barrel since announcement on 10th Jan]

p.s. what type of OIL does our Nigeria Operation produce? BRENT or WTI ?

Canadian Market: XOP now UP 9.09% @ 0.36

[ Ref: LargeGin on COPL BB ] - Maybe of interest to some

Friday, May 27th, 2022

Oil prices have been edging higher this week as improving demand signals highlight the lack of supply options in oil markets if there is a drastic contraction in Russian production, a likely outcome if the European Union bans Russian oil. With both US crude and gasoline inventories continuing their decline, whilst recent altercations between the United States and Iran have rendered any JCPOA breakthrough largely impossible, analysts are anticipating another surge towards the $130-140 per barrel range this summer.

EU Pins Hopes for Next Week Summit on Russian Sanctions. The European Union hopes to reach a deal on Russian oil sanctions at next week’s leader summit on May 30-31, with media reports suggesting Brussels will split the embargo into pipeline and seaborne deliveries, allowing more phasing-out time for the former.

US Seizes Two Allegedly Iranian Cargoes in the Mediterranean. The US-Iran antagonism is set to increase further after US authorities seized two laden oil tankers in the Mediterranean, anchored in Croatia’s and Greece’s territorial waters, for allegedly smuggling oil for Iran’s Revolutionary Guard Corps.

Nigeria Might Soon Be on the Brink. Whilst Davos talks usually focus on grand strategy, Nigeria’s finance minister Zainab Ahmed stated that the country’s production is so low (at 1.5 million b/d in Q1) that it is barely able to cover the cost of imported petrol, blaming the shortfalls on theft and infrastructure attacks.

1 Week from producing UNHEDGED Gas prices (for a month)?

thats a Bonus at todays GAS prices

Currently $114.14, UP 3.45%

Currently UP 4.92% - Very small volume

Awaiting news

What date does the Hedge start from? I thought it was July 1st?

If so we may be lucky and have some 3/4 weeks (of June) with unhedged Gas Sales = Extra Income

Thank God GIDEONS (who should have had a Government Health Warning attached to his Tag) has disappeared.

Feel sorry if anybody was swayed by his comments, even at 1.40 in March and Early May this was supposed to be 3p-5p.

It will come good, but you need more patience, we must produce Gas and produce Oil (Its always been in the ground, getting it out is/has been our problem)

Yup, I concur Yanis, its guidance only.
I actually tried a small dummy trade and was offered that price (now 0.1124 for <50,000 shares)

ASK = 0.1129 at the moment.

will it drop to placing price when shares hit market?

Victoria Day - Monday, May 23, 2022. - Canadian Bank holiday

Possibly some news on Tuesday Morning?

Crude Oil UP, now $109.8

YUP, Said it was Low Volume

Canadian SP now moved UP 5.26%

Canadian SP just moved UP 3.51%

Low Volume but first Positive sign for a Week

GLALTH

ANGUS Energy (ANGS) is my selection. Up to 37p on Hype/Potential +MD saying it was the "Star Wars" of the Oil Industry, Could only get Sludge out of the ground, company couldn't separate the water from the Oil etc, etc, SP dropped to 0.006p. now 4 years later about to produce GAS and have now got permission to revisit their Oil fields problems in Surrey, SP now 0.014p, but new management is resurrecting this company. (Neighbour to UKOG)

But LTH have suffered

Gas at highest price for 14 years, and expected to go higher as we approach Autumn/Winter Seasons in Northern Hemisphere.

Also what I 'i happy about:

CONFIRMATION Cuda should be ours (no late bidders)
and
We have a 4-6 week window to BUY more shares in this Low 20p - 30p range.

Whats not to like why we wait

Cost to produce a Barrel of Oil?

Thought somebody mentioned $62 approx, and got all excited when we announced our Major discovery on 10th Jan as Oil was at $76, thinking $14 profir per Barrel.

Now $105, is this currently a $43 profit to come into calculations?

or is there more toconsider?

Canadian Market opens in 30 Mins

Canadian Overseas Petroleum Limited (XOP.CN)

2 X OIL TANKER a day is 436 bopd X $110 = $47,960 a day X 365 = $17,505,400 a year.

So you seem to have doubled the daily limt of HGV movements to 4 (2 In + 2 Out)

But as you then state:
"no HGV movements to or from the site shall take place except between the hours of 0700 - 0800, 0900 - 1530, and 1800 - 1900 on Monday to Friday and 0800 - 1300 on Saturday,"

so, first of all, there is No movements allowed on Sundays, so you need to reduce your 365 day calculation above by 1/7th (for 52 sundays), or $2.5m

and in case your visiting the site HGV's are allowed after 9.00 a.m., but before 14:30, to avoid school runs.

GLALTH