Member Info for DaveWin

We all that fundamentals cannot be overridden by market manipulation.
The truth and reality always win out
So, whilst im as impatient as the next man for the CPR, im unaware of anything which undermines the idea that this is a commercial find.
As we wait for news, rampers and derampers play their games, trying to get you to follow their misinformation so as to help achieve their financial agenda but simpy revisit what is known about Portland and what is out there in the offfical statements.
Yes its a pain, yes its just another hoop to jump through but fundamentals do not change just because some try to suggest as such

Back in 2008, the signs were everywhere. People were borrowing too much, banks were throwing money around like confetti to people who couldnt afford it. IVA's were all the rage, technicalities were letting people rip up debts to Credit card companies as card limits had been raised without an authorising signature on a new Credit Agreement form.
The signs were there for an issue
I pre-empted it by selling my house 2 months before the crash and went into rented accommodation on a 6month let.
It was the best call of my life.
Within 12months the equity I wouldve had was wiped off the value of the house that I had sold.
So, fast forward to today and do I see the same threats and the answer is quite simply yes and no.
No we dont have the same issue with banks lending irresponsibly but when I look at the debts and liabilities of the ECB and the Euro then its terrifying.
When, not if that goes belly up then who can predict the fall out and knock on effects accurately.
The Euro is doomed post Brexit and it will be Germany left holding the baby. So prepare for a huge depression on the continent and all those doomsayers about Brexit will be silenced as it will appear that we got out of Dodge just in time.
We wont be immune from the situation as our own debts are still not under control but UK PLC is not about to go bust anytime yet as far as i'm concerned.
As long as post-Brexit the City remains largey intact and able to function freely, then I can see the UK being a safe haven for foreign exchange and maybe just maybe we will be robuat enough to weather the worst of it.
As I see it today, there are so many issues looming on the horizon which could potentially bite everyone of us, from Brexit, the collapse of the Euro to the $US being challenged as the international currency as I know that once again Russia, China are vying for change and with Saudi basically owning US debt through the holding of US Treasury Bond, then if China and Russia manage to convince Saudi to jump ship to their vision of the world then frankly all bets are off as the 2008 crash, Brexit and the collapse of the Euro will pale into insignificance.
Thats why Trump is doing what hes doing now, berating China and Russia whilst at the same time bolstering allied financial support and relations with Saudi.
How this global power struggle will end up then who knows? But im expecting a pretty bumpy ride personally and at the first sign of the initial domino falling then im heading off into Gold quicker than Speedy Gonzalez
Just my thoughts and fingers crossed, the "who can pee up a wall higher" one upmanship games dont escalate into something far worse than uncertainty in the financial markets

"At 30 June 2018, the Company had $210.1 million in cash and liquid investments, of which $178.6 million was unrestricted. With the well completion, TMS installation and SURF installation phases complete, we remain confident in becoming cash generative based on existing funds. "

Fantastic planning by the BOD

Its one problem after another here :-(

Once more UKOG tops the list of most traded, with buys outnumbering sells by 3:1
Yet no movement in the SP
How does that work?

Are YA short selling UKOG also?

I saw that too
Its about time these shysters were brought to book for the practise of forward selling stock they dont own.
YA sold $3,000,000 worth of FRR shares without authority.
Now theyve been found out, i hope they have enough cash to settle the bill

Hahaha thats priceless
Caught with their hands in the cookie jar, short selling around $3,000,0000 worth of shares.
I hope they have enough to cover it

£901k buy yesterday

Wow

I want hin to pull this out of the bag even more now, just to silence a certain cretin

I have no idea JBG

Buys outnumbering sells by 3 to 1

Obviously not!
The buys of recent days have all but dried up

Cleaning of a tankers tanks can done concurrently with the discharge of the oil cargo, ready for the next cargo to be taken, by a process called COW or Crude Oil Washing.
Whereby a smaller diameter take off pipe is used to divert a relatively small amount of the oil as its being discharged and directed through rotating COW wash guns sited in each tank.
The best way to clean oil off metal work is to use more oil.
The COW machines rotate round and around as well moving vertically, ensuring a complete 'wash' of the tank from top to bottom.
These washings are then drained from the tanks using a seperate stripping system and discharged back into the main export pipework.
Its a completely self contained process within the vessel and adds minimal time onto the actual discharg of cargo but can increase the out turn figures significantly as these tanks are enormous, and residues of oil sitting on steelwork inside, when gathered together can amount to quite a large volume of fluid.

Water washing is only used in oil tankers when the tanks are due to be opened up for internal inspections or entries etc so in this instance of merely changing grades would not be needed

Thats possible argus1, however i doubt that Fawley has the storage tanks available to accomodate the sheer scale of the potential find from the Weald.
It will, as Starbright rightly points out, need to increase its handling capacity massively.
One thing that has happened in the UK since our time in the EU, has that oil transportation by sea has been allowed to be dominated by Europort in Holland.
Its a natural, deepwater port with masses of land available for tanker berths and refineries etc
We simply dont have the same infrastructure in the UK as its been so much easier to have no future planning of our own and to rely on this instead.
Our planning laws are ridiculously unwieldy when it comes to building infrastructure which are of national importance and that goes for everything from roads, to power stations etc
Our Governments over the years have simply not had the bottle to fight the swampies, instead its far easier to allow these things to be exported to the EU.
If the Weald reserves are proven up and found to be commercial then we need to get Westminster onboard and declare the entire project to be a National Significant Resource and get the political powers to get what needs to be done, done!
We will find ourselves still exporting the oil at the same time as we continue to import other grades from around the world but if this is as large as many are hoping for then it needs Ministerial backing from all parties to get it up and running

The UKOP pipelines you highlight StarBright arent for oil out of the ground, they are for refined fuels derived from the oil out of the ground, such as petrol and kerosene.
As for shipping costs going down argus1, thats a bit of a nonsense suggestion too.
Refinerys use many different types of oil from around the world to create a blend, from which they then crack and produce the myriad of petroleum products with.
The Weald oil pipedmto Fawley would not negate the need for tankers to still arrive from elsewhere as the Weald oil may well be better quality than Arabian Heavy and therefore can be used to improve the latter, so that its easier to crack.
The Weald oil piped to Fawley, would if anything produce more tankers visiting as the oil is sent to refineries around the world to help them improve the quality through their own blending

Something has to give financially Neptunes
Either the update in October shows a huge increase in revenues or we face yet another Cash Raise
Its make or break time now for sure
We either have a business or we dont, its now become pretty much a binary choice and all dependent on sales figures and if the concept is worth a bean to advertisers?

What a brilliant video.
I havent seen it before but it helps to explain (in an easily understandable format adoubleuk), the concept.
We all know the scale of the Clair field find back in the day.
To hear Dr.T state from the outset that it was his work on this which planted the idea for fractured basement plays, then its not difficult to see the connection as to why the Rona Ridge was targetted.
To then be proved right every step of the way so far with his hypothesis must be immensely satisfying for him, and us obviously.

Actuall thats not true.
In north wales from the point of ayr oil and gas terminal, they installed a 30mile oil and gas pipeline to Connahs Quay power station.
Thats an area of outstanding natural beauty
The pipeline was buried in a trench and now no visibile sign of it exists anywhere.
Pipelines such as this are in existence already all over the UK, so it is acheivable with minimal environmental impact
https://www.bpa.co.uk/experience/what-we-operate/

Well reasoned post Starbright, sensible and succinct