Member Info for ocelot

Good volume this morning.

Is the oil tanker beginning to turn Northwards?

would really like to see it break decisively above the 0.60s.

A discount rate of 15% was used for impairment testing of the oil assets of the Company (from note 1.2 of the full-year results RNS of 22/03/18).

If only the country risk of operating in Iraq and Iraqi Kurdistan could come down!

The Kurdistan Regional Government (KRG) announced on Tuesday that officials from Riyadh and Erbil had agreed to transform the Kurdistan Region into a new center of commercial activity and investment in Iraq...

The Saudi delegation expressed its desire to “invest and have [Saudi] businesspersons in the Kurdistan Region benefit from the security, stability, and the suitable ground for investment,” in the region...

http://www.kurdistan24.net/en/news/0e0878ba-6625-447d-8bdf-2b901f1280ff

to the General Meeting to transform UKOG into an operating company.

Very important financially for the KRG

Russian oil and gas giant Rosneft has sent a delegation to Duhok to discuss starting work on three oilfields in the province next month. The firm is expected to extract 180,000 barrels of oil per day...

... Dr Bewar Khinse, an energy expert, said it is an important step for the Kurdistan Region to have Rosneft take on these projects.

“The importance of this is not only an increase in oil production. Rather, it is politically important for Kurdistan because Rosneft represents the Russian government. Wherever Rosneft works, it means the place is calm and protected,” he said...

http://www.rudaw.net/english/business/24072018

MOSCOW, July 22 (Reuters) - Iraq expects Rosneft CEO Igor Sechin to visit Baghdad for talks on Kurdistan oil contracts, Russia’s TASS news agency cited Iraqi envoy to Moscow, Haidar Mansour Hadi, as saying on Sunday...

https://af.reuters.com/article/energyOilNews/idAFL5N1UI0DO

https://uk.reuters.com/article/uk-iraq-kurds-explosions/suicide-bombing-inside-erbil-governorate-security-sources-idUKKBN1KD0TT?rpc=401&

Hawkey,

I've seen an earnings forecast for 2018 of about 40p, which puts Genel on about 7 x earnings.

There is no point extrapolating on the basis of 2017 earnings, because these were due to a one-off accounting treatment of the receivables agreement with the KRG.

tiger100 270
SnapDog 287
Bunks 291
Sparky333 293
Hasiba 296
Withoutt 298
broadland 299
givetheinfo 303
Oilheadgame 310
Mark888man 322
Hawkey 330
Whitehat 337
Rangor 339
ocelot 340

they say you make your own luck - not entirely convinced of that, however!

Neither UKOG nor Alba's share price seems to have suffered too much from theit most recent placings, they have both picked up momentum.

Let's see how the HH ewt develops for both these companies.

If the capital base increases by 40% and the company's assets remain unchanged, there is 40% dilution.

This happens, for example, with a scrip issue.

If, however, the company's assets increase, then the extent of the dilution depends upon the extent of the increase in those assets.

Ideally, one wants the assets to increase in value by more than 40%, at which point there is no dilution at all but, on the contrary, growth of asset backing per share..

In both UKOG and Alba's cases, therefore, all depends on how the HH ewt develops.

ie. since 31/03/18, it has reimbursed £5.25m of debt and raised a total of £12.5m in cash through the issue of new equity.

PS: I am interested in both UKOG and Alba

ie. since 31/03/18, it has reimbursed £5.25m of debt and raised a total of £12.5m in new equity.

PS: I am interested in both UKOG and Alba

ERBIL, Kurdistan Region – Iran’s Supreme Leader threatened to block oil exports throughout the region if Iran’s oil sales are impeded under sanctions.

“If Iran’s oil export is blocked, no other country in the region will export oil either,” Ayatollah Ali Khamenei said on Saturday in a meeting with Foreign Ministry officials and Iranian diplomats.

Iranian President Hassan Rouhani had previously hinted that Tehran could shut the Strait of Hormuz – a strategic waterway that handles as much as 20 percent of the world’s oil...

http://www.rudaw.net/english/middleeast/iran/210720181

MaxHSpringer,

UKOG has NO debt, all of YA's debt has now been reimbursed through the conversion of shares.

For every buy there is a sell by a MM, for every sell there is a buy by a MM.

It is for the MMs to balance their books, which they don't necessarily do on a daily basis.

The game is still so much on that it hasn't really started yet!