Member Info for Heid

And what is wrong with SP Angel, MickyBee ? .. Nothing in my mind.

The facts are, we were refused planning for Wressle. Move forward to today and we won the appeal. Tanker's' are rolling daily and we passed the Million Dollar mark a while ago now. Wressle has much more to give. This is a fantastic achievement and success by all of the partners, and a massive earner.

In my opinion we will appeal Biscathorpe no different. The councillors are only interested with pleasing their voters, but remember they went against the planners decision. I see another costly appeal and a win.

West Newton, we await the independent review to move forward. Far from over.

I have to ask why OPEC would agree to Biden's requests to release more oil ? The world is telling them that peak demand is coming soon and we no long rely on fossil fuels. .. This is a big Mistake. Brent will enter a multi year bull market. I posted here at the weekend that OPEC will run out of spare capacity next year. I note this morning that after me, Javier Blas a highly respected and well known tweeter, has picked up too on OPEC having production issues and output already. 2022 will be a very interesting year as we pass April. The energy crisis will escalate. Families will be burdened with no end of debt from tax rises, energy bills, community charge increases. Inflation in the UK is already rising.

As David correctly stated in the Wressle update RNS, Union Jack has four cash generating projects within its balanced portfolio and revenues for year end 2021 are guaranteed to eclipse those reported upon in 2020 and for the six months ended 30 June 2021.

David continues to have my full support and best of luck to all investors.

No, I am not licking my wounds.

I am reading the comments with interest.

Thank you for following me on my twitter TheViking and my LSE posts.

I hope you continue to read and enjoy my posts.

I am pleased that you agree with me that oil price will rise. This of course will mean bigger profits for Wressle.

I do have opinions on your questions, but I am not prepared to comment.

You can say whatever you want to me MickyBee, but whatever the outcome this afternoon with Biscathorpe...Wressle is producing. Oil is getting very tight. I would be amazed if OPEC give in to Mr Biden. Brent will rise. Getting very political now.

New Biden quote :

'Biden admits: dispensing with fossil fuels completely is 'illogical'

Blokes not fit for presidency.

'Things' will be happening after COP-out 26..I told you all that a while back. More confirmation of that came in yesterday to me.

if you all think I am daft as a date.

But my research and contacts tell me that we are in for one hell of a ride in 2022 with Oil.

My Dave will be happy.

Cuppa tea time.

No way will OPEC give in to Biden. It is an easy political point for Biden to call OPEC out. Oil markets don’t give a dam about COP26 it is a damp squid and politicians are looking for votes. When Biden met the pope he had 85 limousines to meet him. Then a jet.

Brent will push to 90 Dollars now.

Dave will be happy x

*COP26 show

In a very recent interview Prince Abdulaziz bin Salman has suggested OPEC will keep the scheduled 400,000 bopd increase for December. As we know Biden is asking for more output and the Prince's comments are mockery in reply saying ..

"I would not reflect on that, it is above my pay grade. I am a technician and I deal with technical issues.."

Prince Abdulaziz bin Salman is aiming for a circular carbon economy as his approach by 2060 by working with those who want to create and deploy green technologies. They will meet yearly and it is not a PR stunt like I see COP26. His people and economy will come first in all of his choices which will be a balance of gas, oil, solar , wind, hydrogen an nuclear.

As a technician Prince Abdulaziz bin Salman stated he would also limit exports of oil an gas and make energy home grown priority wherever possible. The prince says OPEC makes 'voluntary cuts' too and not quotas. OPEC+ is very much in control here and vowed to 'drill every last molecule.'

This evening we have Biden :

U.S. President Joe Biden keeps the suspense on oil diplomacy, but he strongly signals Washington will counter. Asked how the U.S. would respond if OPEC+ governments don’t act, he said: “What we’re considering doing, that I’m reluctant to say before I have to do it.”

https://twitter.com/JavierBlas/status/1454912133708357633?s=20

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Is it me or has Biden forgotten what he said ,

"We are going to get rid of fossil fuels."

Bring on the OPEC meeting and let's have a laugh at this week's OPEC Show.

Keep banking that Wressle money David ! .. H x

I can not spoon feed you any more Chitty.

Do some research... google Shale dividends and you will get your answer.

You are near the mark with your accusations Chitty.

I would more than happily show my holding to David Bramhill if he asked me to.

I have chosen to invest here as I see very good potential and it is my choice.

Let me try to explain to you the US Shale element...

The past ten years US shale has been very destabilised in the energy markets. We had a massive supply of growth in the past. A well took 4-6 months to come on. Their break evens were 25 $ . So what was a fair price for oil, as they never thought oil would reach today’s highs. They assumed we had years of oil resources. Then we had some price crashes and fighting with opec and energy had become challenging to be invested in. But for the past couple of years value investors have turned to shale ceos and did not want a repeat of the past. They were fed up with poor share prices. They chose to abandon growth and maximise the free cash flow for capital to be retuned back to shareholders because everyone needs to get paid by buy backs, dividends . Those investors managed to change the US shale business model. How can a shale CEO today go to investors today and say we know you are being paid dividends but we want the money back to go an drill and chase more production..

Shale companies had the ability to access external finance. When shale growth exceeded demand growth companies were spending one an half times their annual cashflow. Part spend say from the stock market , banks or even the high yield market. Today equity markets are closed. Banks want out of dirty oil. These companies can not outspend their cashflow. Spending of prior years does not exist anymore.

Will U.S. shale production return with oil above US$80 per barrel? Nope. Investors will not give up their quarterly dividends. At today’s oil price annual yields are around 15 %

You clearly do not remember myself an Doubleheadedcoin becoming the enemy of the UKOG board, at least that suits your negative narrative of me too Mirasol.

Enjoy your Sunday.

Oil demand is normalising from covid and trading at a seven year high. From pandemic to endemic we will all want to travel more with plane journeys etc with lots of our money saved during covid. Supply is going to be a big problem and we will end this year with all time low inventories. Oil demand will grow for another decade and US growth shale can no long satisfy demand. Global super majors are not investing in to oil. OPEC will exhaust its spare capacity next year.

US Shale companies have abandoned growth and focused on free cashflow to shareholders with share buy backs an dividends. Poor share performance meant investors abandoned the sector No CEOs will change that. External finance is no longer available for 'dirty oil’ from banks. This is a major event for oil and will mean smoother growth for the oil price as there is nothing to now destabilise oil like the last decade.

OPEC producers have curtailed production and want inventories lower. In ten months from now I believe they are out of spare capacity. This will become front page headlines the same as I posted here ‘ What is worse covid or an energy crisis .’ We have Nigeria underproducing, Angola and multiple other countries. Libya has a leak last week. Iran’s nuclear deal is proving to be slow and we could be looking at roughly Q3 22. The likes of Venezela need 58 billion dollars to restore output levels which would take years.

Global super majors are not sanctioning enough projects because of environmental reasons. Greta arrived at COP26 like a pop star. Social and corporate governance investing has impacted its capital flows and their inability to invest in new longer projects. The last meaningful project was Norway but that production is not enough. Majors are spending on renewables and giving back a dividend but when this comes to fruition I can not see them admitting that they have mucked up, an reinvesting back in to oil. It is too late. Their drill projects take over say 6 years anyway for something decent.. In the UK we have councillors going against planning law recommendations.

Part of the problem also is the fear of peak demand, this is leading to the reality of peak supply. Aramco has warned world oil supplies are falling rapidly. Not knowing what ten years times demand will be, also, prevents investment today. This is all leading the world in to an energy crisis. Oil is critical. US has consumer spending up, strong demand for travel. Indicators of strong global demand.

All things considered, and with my belief that is Wressle is a great asset, I believe it will give fantastic income for all partners as oil begins a 'multi year bull market.'

I was also one of the only ones who previously supported UKOG and started to express my concerns on their LSE board before I sold out in to the covid stocks and made no secret of that either. But don't let the facts get in the way of your negative narrative about me . You conveniently forget the covid stocks that I was invested in and did very well during the beginning of the pandemic and sold out in to my Union Jack Oil holding.

My only interest is Union Jack Oil now.

Thank you so much and may I add you got a very good entry point.

Thank you so much Woodstock1970

Your words are appreciated.

What do you think persimmon ?

what slip up ?