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"Why produce 1000 barrels at $36 when you can get $72 for 500 barrels and your reserves would be calculated at a vastly higher rate"
Why sell a can of beans for 50p when you could sell them at £100 and be far more profitable....
Double tilde isn't in ascii. Both double and single can mean approximate. https://en.wikipedia.org/wiki/Tilde#Approximation
And I clearly stated I was comparing his 'total compensation' package to bpd. You on the other hand have been trying to pull a fast one. With each post you are getting closer to admitting his total compensation package is £600k...
SS is total compensation is ~$600k, see the 2018 figures.
Anyone can check
https://www.lse.co.uk/rns/UKOG/uk-oil-and-gas-plc-final-results-for-the-year-ended-30-september-2018-cfpfreo1d486d8p.html see Directors' remuneration
Yes half of that is shares, but they do have a value, they effectively cost shareholders money. The value in the accounts is a risked amount, it might be 0, it might be millions.
You will of course focus on the they might be worth £0. They are given a value in the accounts as there is significant chance they will be worth far far more than that. The risked average is ~£300k. Guess who pays that...shareholders effectively through dilution.
UKOG shareholders must know a lot about dilution by now. It isn't free.
@Petercraigscot You still can't read!!!!
I said "if you make $20 a barrel at the project level"
You assert I said $50 - 20 which is $30, totally changing the calculation example. Hence you get £1m vs 600k
I asserted that SS is total compensation is $600k (implied by the calculation)
Stephen Sanderson 2018 figures == £584,00
from https://www.lse.co.uk/rns/UKOG/uk-oil-and-gas-plc-final-results-for-the-year-ended-30-september-2018-cfpfreo1d486d8p.html see Directors' remuneration
Note I said "total compensation"
Stop misquoting me. You just can't read.
"UKOG has a BE. of around $20."
Is that at the project level or the company level? And at what rate of flow is that calculation? Some costs are fixed, the BE will change depending on the flow rate.
e.g. if you make $20 a barrel at the project level, a 100bpd of profitable oil is needed to pay for SS total compensation package. Never mind all the other company expenses.
Admin costs for ukog are £1.5 million a year, plus debt repayments. Need quite a it of oil just to break even.
How would this all be effected in year two? With typical depletion rates and such.
@Petercraigscot Can you read? I have never used the water issue. I am just pointing out the ukog rns, yet again is missing out key details.
I didn't say "80% of a 2500 foot long horizontal," I said 80% of the fractures could be at the toe, but the plug would have be be far further back due to the remaining 20%.
Typical UKOG rns. Investors care about where the plug was put, but ukog basically talk about where the median position of the fractures which is irrelevant. They know where it was put, why didn't they say exactly where?
(plug) || . . . . ......... > (toe cluster)
1% of solo costs 60k. Probably could control the company with 20-30% ownership. So currently control of 25% of Ruvuma license could be pretty cheap.
But it might be free just to demand $10m from solo for 2020 and gain the license if they can't pay...
£3m stake in H1 + some cash and listing is probably most of the market cap. I would have rather had that 3m in cash rather than H1. Would have been a much stronger position.
You are claiming that there is complete consensus with everyone with " current economic.ic understanding " believes in ukog.
I call bull****. Where is your evidence? Why isn't warren buffet invested. Why no investment funds, or investment managers.
You think you can value an oil field based on photos and videos? Good luck with that. I think I would prefer full field models, you know like banks and such require.
Closed group == warning sign.
Look at how onecoin mlm used closed groups with only positive msgs allowed, look at how many billions were ripped off from investors with such tactics.
" 90% of the Company's lowest VWAP during the five days prior to the conversion date."
https://www.lse.co.uk/rns/UKOG/uk-oil-and-gas-plc-acquisition-of-further-interest-in-horse-hill--8dngfys4m35yxhw.html