Member Info for LONGWAIT

I asked a similar question not very long ago, Sailplane.
What does HUR have to do in future to obtain regulatory approval of a tie-back?
Does HUR know what it has to do?

You end your comments with 'Fact!' robone, but your comment '.... Poo will go down for sure' is not a fact, but an entirely speculative assertion, dressed up as certainty.
When the price goes down, people like you crow about how you've been proven right, and when it goes up, you say, with the assurance of a biblical prophet, that it will go down.
That's a game anyone can play, just like your comment that I shouldn't get excited.
I've posted more than five thousand comments and I don't recall being advised to calm down before.
I merely reported a market movement, and by the way, WTI is back above $20 and Brent above $24.

Today's buys amount to £31k.

How high does it have to go before you will get excited?

WTI has just broken through $20

According to the link provided by Skwizz:

'(Reuters) - Oil prices are headed for further falls this year even as countries ease restrictions related to the coronavirus crisis, while output cuts by top producers will do little to fix a supply glut, a Reuters poll showed on Thursday.
The survey of 45 analysts forecast Brent crude (LCOc1) would average $35.84 a barrel in 2020, 7.5% below the $38.76 consensus in a March survey. It has averaged $45 so far this year.'

According to Tymers:

' ... as economies ease lockdown commerce kicks in quickly and expect a big drive for recovery every economy is going to want to step it up quickly I could see Brent hitting $50 by Aug 20 ...'

I don't know who is correct - Tymers or the analysts.
What I do know is that Tymers will ramp up any price he wants to rise.
Take a look at his past price predictions for UKOG - always up into the stratosphere, but the price has instead collapsed.
If I had his history of getting prices wrong, I would be holding back, not ramping, and I wouldn't be using a nonsensical signature every time I posted, either.

I regret to inform you of the passing of a late-unloved poster - not at the hand of the Coronavirus, but rather of the administrators.

Petercraigscot, the poster who enthused about UKOG's prospects but who predicted that HUR would be bust by September, has pre-deceased HUR.

An amazing achievement, but only the latest in a long line of UKOG nutters to bite the dust.

Unfortunately, this means he won't be able to visit this forum any more to gloat over UKOG's obvious superiority to HUR.

For the sake of comparison: HUR has a SP of 11.9p and market value of £237m; UKOG's corresponding figures are 0.255p and £20m.

That's a pity.

I was looking forward to reminding him in September that his prediction that HUR would be bust had somehow not come true.

It seems HUR will outlive the great seer.

'Regarding my holding it's not insignificant and average a comfortable one ...'

We're all comfortable, Tymers.

The number-crunchers have certainly got their work cut out for them, trying to work out how you have managed to avoid making a loss.

'Could be 2p/5p by the year 2045'

Post of the year!

Yes - knowing my luck, UKOG shares will rocket as oil worldwide starts to run out.
I expect to get a phone call from my solicitor, along the lines of 'Mr Longwait, do you know HOW MUCH your UKOG shares are now worth?'
Not sure what I would say when he asks me how I intend to spend the proceeds.
Probably 'on a new wheelchair' or 'to move to a better care home' or 'to buy a supply of the latest vaccine for Covid 45.'
The thing is, I could just about bear to read Tymers' comments if he didn't sign them 'UKOG United,' as if he were secretary of a football club.
It is possible that people buying now will do well, but Tymers and the rest of the UKOG Utd team were urging people to buy these shares at far higher prices, because they were - so they claimed - absurdly cheap and certain to go shortly to 2p and then 5p and more.
Instead of admitting they were wrong, they resort to calling anyone who won't use their ridiculous signature a 'troll.'

It's quite simple, DU: at the moment, many people have - with the encouragement of the mass media - got it into their heads that oil is worthless, rather like the people who turned their noses up at Van Gogh's paintings.
They are even saying that it has a negative value, equivalent to Theo paying people to take his brother's masterpieces.
We are also told that oil is an outdated form of fuel, soon to be superseded by other, cleaner, forms.
We're still waiting for a jumbo battery capable of powering jumbo jets, but the same people would perhaps counter that Corona has rendered jumbo jets worthless too.
Most people, it seems, cannot look ahead.
Eventually, there could be desperate attempts to find oil as it runs out, and that could cause its price to rocket.
Even in the shorter term, if the world returns to normal, with the world's human population increasing, demand will soon outstrip supply and it can't be long before exploration is back in fashion.

'Not bought in here but since about a year ago. Roughly. Price was too good to miss. '

You bought at 1.2p and now, with your investment showing a loss of 80 percent, you think you made the right decision?

I've read the recent posts, with predictions of 8-33p at the end of the year and I think I'm not exaggerating when I say that this forum has lost touch with reality.
If I get my money back, that will be something.

Posters on UKOG seem to think share prices are predictable.
Under the heading 'Wow', 10 posters have predicted a year-end share price ranging from 8p to 33p.
UKOG loyalists are ending their ever-optimistic posts with the signature 'UKOG United,' to signal that they are true believers.
Anyone who contradicts them, or expresses any scepticism, is dismissed as a 'troll.'
One loyalist predicted a few months ago parity between HUR and UKOG SPs, at 20p each.
UKOG loyalist Petercraigscot has predicted that UKOG will go from strength to strength while HUR will be bust by September.
UKOG shares are trading at 0.24p.

There is a favourable summary of today's update at

https://www.offshore-mag.com/production/article/14174834/hurricane-energy-updates-west-of-shetland-basement-well-analyses

'Lincoln Crestal well suspension consent deferred until 30 September 2020'

I know this isn't news and I am deferring reporting the statement to the Grammar Police until I have received posters' advice on this sentence.

Am I right that what the above-quoted statement means is that the DECISION about whether to grant the request for a suspension has been deferred until September?

The RNS confirms that RT sees no reason to be concerned about water cuts, and even Jamie Ashcroft seems to be calming down about them - even if the citric obsessive isn't - but the share price is down by 12 percent.

I suppose that according to those who elevate share prices above all else, that means there must be a problem with water cuts.

There are signs that the epidemic has already peaked.
Figures today from Spain, Italy, Germany, and even the UK, are encouraging.
Lockdowns are being eased, with plans to ease them further next month.

I'm not expecting RRE to buy HUR, Double, and in any case, they wouldn't be able to even if they wanted to.
I'm not expecting anyone else to buy HUR in this market, either.
HUR is also 'only for the brave,' which is why you and I are still here.
Good luck with your poker game too.

'Which explains why their current market cap is way less than cash in bank.'

The only thing that explains the collapse in RRE's SP from £23 to £4.22 is the market.
It's not as though no-one knew about the decommissioning costs when the price was high.
According to one poster, RRE has massive paid taxes to offset against decommissioning costs.

The latest figures suggest the pandemic may have peaked.
Total daily fatalities reported include:
Spain 288, Italy 260, France 242, Germany 36, UK 413, no deaths in China or South Korea, and no deaths in Thailand or Israel, which is unusual.
There are just 801 active cases in China and 1,769 in South Korea.
Recovery rates have passed 50 percent in Spain and 70 percent in Germany, and - in case you thought I left out America for a reason - there has been a reduction there too, with New York reporting its lowest figure of the month.
As I said a couple of days ago, the Coronavirus is in retreat.

I'm hoping for a gradual recovery in oil prices, along with the physical and economic recoveries from the Coronavirus, but can someone suggest how RRE would handle things if prices below $30 persisted?
Obviously, the hedging helps, but would it be able to reduce production in order to avoid selling any oil ata loss?

Well, they dealt with the question of decommissioning costs on the RRE BB, concluding they do not pose a problem at all.
As for the production costs, I hadn't recalled that they are that high - which they are - but RRE has significant hedging and perhaps isn't bound, as HUR is, by a contract with a major to supply oil at possibly loss-making prices.
I don't know about the quality of their assets, but I know they have £21.89 per share in cash, whereas HUR has about £0.07.
Now, I know they have far fewer shares, but their share price is at a discount of 63 percent to net cash, whereas HUR's is at a premium.
Furthermore, RRE will soon have paid a dividend of 85p for the last year, and has no debt.
I think it's a complicated comparison, but RRE looks very cheap.