"it is because UKOG has been financed via placings that it has no financial debt (apart from £3.087m of loans payable to non-controlling interests in HHDL"
That's the real story - the BoD has managed to stay in place by going for dilution rather than debt. Debt brings in people with real power to oversee running the company - dilution just hits the mug punters who have already put in cash.
" I believe he was banned for conspiring with Pboo to defraud UKOG investors out of hundreds of thousands of pounds by posting pictures of waste tankers as oil tankers."
Conspiracy is a very serious allegation - I'd say it was over enthusiasm to be fair. A one point he really was THE True Believer in UKOG - he even finished up on site and was shown around by Steve S and the guys. The trouble is he REALLY believed - and then, when it didn't work out (and there were rumours that someone stiffed him somehow), he became the poster we see today.
"Take out the 1 MILLION BARRELS per day that the USA is still foolishly releasing from its STRATEGIC petroleum reserve (SPR) "
Surely the whole point of a reserve is that you use it when things go crazy? Moses got it right with his 7 fat years and 7 lean years as per the Bible?
No - I was talking about the mis-information about the famous Brockham "test" - where they quoted instantaneous rates for months as proof of how good it would be - and then pulled the whole thing a few days before it was due to start. Hope they don't do it at SFB Adrain. It would be disappointing
well for many years his ID has been known and one thing is for sure - he's no broker............... brokers don't sit in vans outside HH for weeks counting trucks and cosying up to SS
"as you know they are balancing oil/ water, at the moment both oil/water are reasonably stable and as you also know if they increase the oil they will increase the water, so for now they seem to be happy with the increase in revenue from the higher oil prices until they can put the water injection to the test , "
Agreed - an y increased flow rates will drop pressures to o quickly -they're hoping that by reinjecting the produced water they will a) cut the disposal costs b) reduce the rate of decline.
Note it won't increase the rate of oil production much as they are still taking out more fluid than they are putting in but it will change the decline rate