Member Info for ocelot

Very odd: for a few seconds there, my filter didn't work and I could see a couple of posts by those I've filtered!

Yes, that is what the drill is all about, to prove:

1/ hydrocarbon volume; and

2/ commerciality.

Not much longer to wait now.

No-one seems to have even considered failure in Resan as a possible scenario.
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True, even the principal naysayers appear to accept that the partners are likely to find oil (even CynderLad put the chances against finding oil at only 80%+).

The green hedge was growing higher, blocking out the light - glad someone trimmed it!

An RNS next Monday morning? as there was this Monday.

The first commitment well, currently planned to appraise and flow test the Basur oil discovery, must commence drilling before 27 June 2021. (RNS of 23/07/20)

The first commitment well, currently planned to appraise and flow test the Basur oil discovery, must commence drilling before 27 June 2021. (RNS of 23/07/20)

Has a mind of its own, decided to take a dislike to the last 24 hours' posts.

50-day moving average: 0.220p
200-day moving average: 0.169p

So sitting just below the 50-day moving average for the present.

The bosses of some of the world’s biggest oil companies said crude prices are likely to keep rising because a lack of investment will curtail future supply.

The chief executive officers of Royal Dutch Shell Plc and TotalEnergies SE joined major commodity traders and banks in predicting that oil could go as high as $100 a barrel, although they also said volatile markets could drive prices back down again.

Low investment is “going to exacerbate supply and demand tightness as the economies pick back up again, and then in time we’ll see supply pick up and rebalance,” Exxon Mobil Corp. CEO Darren Woods said at the Qatar Economic Forum Tuesday. “In the shorter term, probably, higher prices” are more likely...

https://www.bloomberg.com/news/articles/2021-06-22/big-oil-ceos-join-traders-banks-in-predicting-higher-oil-prices?sref=Em01M8Hr

The Basur-3 drill and the Loxley inquiry, looking forward to both.

In terms of finance, it's going to be interesting: the placing is likely to be for the amount they consider they need and whatever the open offer brings in will provide them with some additional cash over and above those defined needs.

up from 40% BUY last week:

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

wizard125,

It did occur to me that somebody might have thought they had identified TW's source and chosen to feed some information to that source to see what happened next :-)

Posted this last night, re-posting it now (things quickly get buried under all the posts!).

From SS's comments at the AGM (08:15-11:00):

"There already has been a number of wells in the Basur-3 structure which have demonstrated the presence of oil, that's why the Xodus report allocates a mean recoverable of about 37 million barrels.

So this is an appraisal well, it's not an exploration well, so the oil is there, we don't know exactly how much because the data is very old".

The main purpose of the well is to prove:
1/ the hydrocarbon volume; and
2/ commerciality.

https://webcasting.brrmedia.co.uk/broadcast/60633359d7d1917e69019aa2

As time goes by, it does look increasingly as if TW may have mistaken a preliminary sounding of the market for the placing itself.

From SS's comments at the AGM (08:15-11:00):

"There already has been a number of wells in the Basur-3 structure which have demonstrated the presence of oil, that's why the Xodus report allocates a mean recoverable of about 37 million barrels.

So this is an appraisal well, it's not an exploration well, so the oil is there, we don't know exactly how much because the data is very old".

The main purpose of the well is to prove:
1/ the hydrocarbon volume; and
2/ commerciality.

https://webcasting.brrmedia.co.uk/broadcast/60633359d7d1917e69019aa2

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5101975

For a good long time, the market took very little notice of what Alba were saying and, with the pandemic, the share price declined to about 0.05p.

Then the market turned around, investors listened and the share price multiplied about 11 times very quickly.

Can the same thing happen again? Imho, yes.

To date, since Alba returned to Clogau after the first lockdown, progress has exceeded their expectations.

The biggest clue to what is going on is that they are spinning off Greenland Listco and will focus on Clogau and the Dolgellau gold field.

I've always found Alba to be very prudent in their pronouncements.

I found it very interesting, therefore, that media coverage of Alba reported that top-end-of-the-range figure.

For myself, it suggests Alba believe potential resources are in excess of 500k ounces.