Member Info for Mirasol

e.g

08:41:55 29-Apr-2020 0.24 GBX 3,996,800 9,792.16

"Neither of these will have more than a small amount of company (UKOG) overheads"

yes & no - if you have a lot of JV's and a lot of co-venturers the trick is to dump as much of the G&A and overhead onto them - you might even make a profit! But in this case it really doesn't work too well as you only have one operated, producing asset and UKOG own 85% of that . So they can try and get Alba to pay the 15% - but Alba haven't been paying costs anyway and prefer to dilute. So it's not a strategy you can work here unfortunately.

What you really want is to own say 40% of an asset and then dump 60% of the costs of G&A and overhead onto your happy partners.

Ironhide - small deals are fine but they get swamped when someone shoves in 5 million shares at a lower price

A £ 500 sale/buy is just noise

sorry 0.26 or below..............

9 million already gone through at less than 0.26

"OPEX include Wages so SS wage is in the stated figures."

not necessarily Pboo - there is no legal or Accounting Standards definition of OPEX, CAPEX or G&A costs.

In a Joint Venture what can and can't be charged is set out in the Accounting Procedure of the Joint Operating Agreement - so there will be detail on exactly how UKOG charge HHDL their costs. This is open to manipulation (and often is I understand) by the Operator.

Any company reporting OPEX etc isn't bound by the individual AP's of their Licences. They can lump whatever costs they like into the various categories depending on what suits them on the day - that's why comparison of OPEX between companies is fraught with problems.

When evaluating a company you need to look at the total outgoings - OPEX is only a very rough guide.

Looks like one of YA's end of day sells to me - no-one else deals in those numbers.

Stock exchange site showing

15:06:39 28-Apr-2020 0.22 GBX 37,500,000 £83,625.00

I think they've lost an hour tho'.............

Not a lot - I think the Govt takes the initial term licence Fee for the whole first term up front on award - so minor costs of filing returns if there is no work going on

he'd have to raise another million or two wizard...............

Exactly watch this sp rise over the next few weeks . Tymers 30/01/20

UKOG price prediction 31/12/2019 (23.59pm)Today 09:52
Entry Now Closed Good Luck On Your Predictions Entries !!!)

Lonely_Shooter: 33p
TrollHunter2: 20.7p
Legalease: 20p
DavidWK: 13p
Free-Money: 11.73p
Vaghellis: 9.6p
SandyBugler: 8.86p
johnnybbad: 8.09p
Ontheotherhand: 8.04p
Tymers: 8p

RE: Price of oilTue 23:19 21st April 2020 Tymers

Wti futures up in Asia nearing 20% tide is turning as asias lockdown is released and European countries. The taps are being opened expect in the blink of an eye brent to be pushing $50.00 by end of 2nd qtr. Ukog united

The rampers, people like 10pTymers et al, are appalling - you'd thing the RNS had sent the shares up 25% instead of which its 25% down - and not a single one says they got it wrong (altho HH1 came close). They're banging the drum, saying it's way more than 300 bopd and that the BoD are the greatest guys since Warren Buffet

You can't make it up - early Feb this share was at the giddy heights of 0.7 p - it's a third of that now and also suffered major dilution. It's a disaster area UKOG United in pain

"Incredible how big oil producers are reluctant to cut more oil ped day..they all must be hurting from such low prices.. there break even are much higher... think Saudi was around 80 dollars"

HH1 - there are 2 "break-even" prices to consider - the $80 one is what they need to finance the Saudi national budget long term - this of course can be cut by delaying building cities in the sand, fighting a war in Yemen (which they started to row back on a month ago) not buying football teams or expensive military hardware - and shipping back several million "guest workers"

Saudi Armaco's actual production cost is circa $2.8 a bbl

https://aawsat.com/english/home/article/1993111/aramco%E2%80%99s-oil-production-costs-least-world-28-barrel
Saudi Aramco has revealed that it offers the world’s lowest average cost of crude oil production.

It said the average cost of crude oil production in the company amounted to SAR10.6 ($2.8) per barrel of oil equivalent in 2018. The average capital expenditure incurred by the company in the exploration and production sector for 2018 is SAR17.1 riyals ($ 4.7) per barrel of oil produced according to the methodology of the market adviser, Aramco said in a statement.

They'll be producing oil when the rest of the world has stopped.....................

"PMSL = where are Tymers and PCS to explain everything is OK and UKOG (dis)united?"

PCS is an interesting case - he went into absolute meltdown at the weekend and did his best to get himself banned - which probably happened

I wonder if he'd got a preview of what was about to happen and bailed out ahead of time?

Chitty is another reincarnation - posting bits from an RNS we've already read and only 2 posts on any company in the last month

What chokes me off is that they could have given us more info on flow rates and what exactly is happening - but we get one number and no detail ... you have to suspect this is not going well..........

Commodities Oil
Brent Crude Oil Futures
% change $/barrel Change
-8.44% 19.63 -1.81
WTI Crude Oil Futures
-25.62% 12.60 -4.34

Morefondle just posts serial abuse on any board he/she is on - check out the posts - all aggression and threats all the time