Member Info for ocelot

Don't know what happened there, now showing 64% SELL today

56% SELL today v 64% sell yesterday.

50-day moving average: 0.164p; 200-day: 0.169p.

https://www.barchart.com/stocks/quotes/UKOG.LN/opinion

Many thanks, Ibug, for your research.

We are also hoping for:
1/ the permissions to convert HH-2z into a water injector, which should remove the water disposal costs of HH-1 and may help to increase oil production;
2/ their Loxley appeal being upheld.

2nd day of rises in good volume.

Market seems to have come back from the Bank holiday and decided UKOG's decline has been overdone.

2 days is just 2 days, let's see where we go from here.

OPEC and its allies agreed to stick to their existing plan for gradual monthly oil-production increases after a brief video conference.

Ministers ratified the 400,000 barrel-a-day supply hike scheduled for October after less than an hour of talks, one of the quickest meetings in recent memory and a stark contrast to the drawn-out negotiations seen in July.

“OPEC have proven once again that they can meet and do things seamlessly,” Christyan Malek, head of oil and gas and JPMorgan Chase & Co., said on Bloomberg TV. “It’s likely that harmony is going to be utilized” to respond flexibly to any further shifts in the market over the coming year, he said...

As Zak Mir indicated yesterday, 0.17p is the first objective to be cleared:

50-day moving average: 0.165p; 200-day: 0.169p.

Loxley, NOT Lidsey! (confusing with Angus).

Dec 21 at 138.500p.

The financing of Lidsey won't be any problem at all should these prices hold anywhere near their current levels.

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5188705

Q1 22: 133.800p, higher still for some earlier contracts:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5188705

The UK imported more than half its gas supply in the first three months of the year, the industry has said.

Oil and Gas UK's (OGUK) annual economic report said 56% of the requirement for homes and power stations between January and March came from abroad...

Chief executive (of OGUK) Deirdre Michie said: "Oil and gas provided nearly three-quarters of the UK's total energy last year.

"We will continue to rely on them to heat our homes, keep our lights on and create many of our everyday essentials.

"We all know that change is needed so the question is how fast we make that change. This report shows the reality that cutting off the domestic production of oil and gas faster than we can reduce demand risks leaving us increasingly dependent on other countries." ...

https://www.bbc.co.uk/news/uk-scotland-north-east-orkney-shetland-58403581

The UK imported more than half its gas supply in the first three months of the year, the industry has said.

Oil and Gas UK's (OGUK) annual economic report said 56% of the requirement for homes and power stations between January and March came from abroad...

Chief executive (of OGUK) Deirdre Michie said: "Oil and gas provided nearly three-quarters of the UK's total energy last year.

"We will continue to rely on them to heat our homes, keep our lights on and create many of our everyday essentials.

"We all know that change is needed so the question is how fast we make that change. This report shows the reality that cutting off the domestic production of oil and gas faster than we can reduce demand risks leaving us increasingly dependent on other countries." ...

https://www.bbc.co.uk/news/uk-scotland-north-east-orkney-shetland-58403581

Markets don't necessarily wait for revenue to be generated, they can anticipate revenue being generated.

They don't have much revenue at the present, that is true, but they do have some, HH-1. Because of water disposal costs, this revenue is not generating much operating profit, hence the interest in the permissions for converting HH-2z into a water injector (which may also contribute to an increase in oil production levels).

Lidsey and Basur-3 are assets which can potentially generate significant revenues. We will see how they develop in the near and longer term futures.

Appreciated, Graeme2, would have missed his comments but for your post and that is precisely why one reads the board: several pairs of eyes are better than one.

Zak Mir wasn't alone in thinking UKOG could recover to about 0.90p, so did I.

Didn't work out on that occasion, but the potential is still there (imho).

By which you mean, buying has exceeded selling so far today.

Are we seeing some transfer of funds from UJO/Reabold?

Their RNSs of this morning do not appear to have met the more bullish expectations.

of 58,260,945 shares each, at 0.1499 (08:41:05) and 0.15 (08:41:06).

72% SELL v 80% sell the previous day and 88% sell the day before that.

50-day moving average down to 0.166p, 200-day at 0.169p.

https://www.barchart.com/stocks/quotes/UKOG.LN/opinion

Personally, think it best to wait until most operators are back from their holidays, ie. next week - as always, we shall see.