Member Info for nhawan

Looks like the next stop is 400p.

Historically even £3 is pretty low for BP. It should get to £3.60 or higher pretty quick judging by the action at close..

Will test $25 again for sure especially when Putin says he will not be threaten by the Saudis.

https://www.zerohedge.com/energy/putin-wont-blink-first-kremlin-rejects-potential-us-intervention-russia-saudi-oil-war?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29

Where are you getting that price? Brent is $29.64 and dropping as of now.
https://uk.investing.com/commodities/brent-oil

Post your source please.

The Saudis and Russia have shown no intent to step back from their plans so not sure why the oil markets are recovring. Demand is rapidly dropping due to the pandemic lockdowns. With many businesses collapsing and people being laid off all over the place I suspect demand may drop further.

The current bounce may be false.

All the positive news is designed to suck investors back in but the reality is that the demand for oil is going to be low for a while due to the pandemic and both Saudi and Russia have not backed down from their stances at all.
Their whole aim is to shutdown as many US Shale operators as possible and that won't happen if oil shot back up again so soon. Analysts still haven't changed their forecasts upwards yet.
Probably wiser to wait.

Can't see a huge number of trades. At the current time I guess people can make money in bigger companies like BP.

The saudis start pumping extra in April. The rise is just a technical bounce. Most analysts are still saying it will go down to $20-$25. The Coronavirus is a huge shock to demand and only Governments stockpiling has slowed the decline somewhat.

Brent is looking like it will hit $20 soon so UKOG is barely gonna break even on any oil they sell now and for the next few months. Maybe too early to jump in when the Saudis haven't even started the ramp up in production.

saudis want to destroy the US shale companies so the coronavirus is helping them anyway. Why didn't they go grovelling to Putin who is the main cause of the saudi plan. Saudis only doing this because Russia refused to cut production.

The sp tanked before RNS came out. some do seem to get the info before everyone else.
Not looking good if the council don't want to approve Balcombe, the main asset.

tthe sp seems to be following Brent crude which is now at $29.69. The Coronavirus has really put downwards pressure on oil demand even without the Saudi plan. What is the lowest people expect Crude to go to?

It looks pretty grim as many airlines have stopped flights thus reducing demand for oil, etc. As more countries introduce lockdowns there will be downwards pressure on the markets for a while. Preparing for a down day tomorrow.

This rise near the end was caused by that 16m trade at a higher price. Not sure if it was a buy or sell because it was reported straight after market closed. Was most likely YA selling their daily quota. Potential test of 0.43p on Monday if no news but any positive news should take it higher.

1 and 5 share trade just gone through. MM's may be changing the direction since Brent seems to be diving again. Let's hope the sp holds.

Yes just checked and it doesn't even affect UK stocks so was a rumour. The rise seems to be tracking the oil price more than the positive RNS. Brent crude is down a bit in the afternoon and UKOG appears to have ran out of steam along with it.
It should be around 10% up at close imo.

The shorting is banned on all markets today. UKOG is normally an easy shorters target because the constant YA selling helps put overwhelming negative pressure on the sp. The recent oil price drop compounded the issue because many thought UKOG would not be making anything at such a low oil price. A shorters wet dream scenario where a company may go bankrupt.

However anyone who read the 2018 presentation would know the company has already stated that production costs were between $17-$21. Today's RNS re-affirmed that so shorters were squeezed.

Can get a live quote to sell over 3M shares. The confidence is back.

Looks like all the recent derampers are caught with their pants down. All those dreams of 0.17p gone up in smoke.
SS is much more confident now and I expect regular news coming in as the clean up process allows more oil to be pumped.

I don't see this going further down now especially when the oil price appears to have boosted up to the $36 range today. UKOG's production costs of $19 makes this profitable unlike much of the US shale companies. Good news for holders.

dahmed, your short could go very wrong if the US decide to do something and I think they will, especially during Election year. I just heard Trump is threatening Iran again and claiming they got hidden nuclear assets. Let's see what happens to your short if it escalates again.