The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Roughly right except they swapped a 2 for a 9 and used Pounds
What people don't be seeming to appreciate is that firstly the Oil wold be worth much more and secondly the Size of the Licence area and what more could be discovered :
Appraisal of Kirkham Abbey gas: 72% COS* for NPV* $247M
Exploration of reef flank Cadeby oil: 24% COS* for NPV* $850M
Apparently the Paperwork was sent to AB but he didn't see it or thought it was something else just like the scenario that played out regarding the Letter about the Kabwe Licence revocation.
I thought that was the best Interview I have seen to date with DB. The no nonsense approach is very appealing. West Newton, Wressle and Biscathorpe all convention plays .
Wressle already proven and should give C$3.5-$4M /Annum
Biscathorpe already Proven by BP , Sidetrack will happen estimating maybe 6 months at this time
West Newton already found Gas previously 189BCF so we have high COS 72% , no small fry with a potential of a not insignificant Oil basin with a lower Cos of %25
A really good basket of opportunities led by probably the straightest CEO I have encountered
.
Hopefully we can stick to the subject of CEO and Company and not the CO(IL) or any resident sycophant !
Quote from Bring My Reward ............
I spoke with him earlier today. The shareholder Circular should be out by 6th May. It will be posted to shareholders and will go up on the website.
Hi Bring, do you know if the Circular went out by 06-May as you did mention it should have ?
SDX has 17mil in bank and is at 3500 barrels a day and UKOG is nowhere near that. I know which I think is the better Co.
Just scroll down this page to bottom for POO
Check the Oil price at the time ,
https://inflationdata.com/articles/inflation-adjusted-prices/historical-crude-oil-prices-table/
I suggest in this case it may be a Legal requirement.
Draft circular being reviewed with Lawyers next week prior to Shareholders Approval