Member Info for ocelot

at 10am.

and, in the meantime, UKOG is reducing operating costs and, on relaxation of restrictions (no longer far off?), will be working to increase its levels of oil production.

These include a significant cut of 20-50% to Directors' remuneration ...

I thought the 300 bopd related to production: isn't HH-2z still in ewt?

It's not a lot of money, you can pick up much more than £1m overnight as other companies have shown.

No rumours of the placing this time, suggests it was done very quickly.

right, not tight!

That's tight, fjones40.

Other companies extend their overdrafts or call on their revolving credit facilities, UKOG calls on the market.

Read that electricity usage has shown its first increase in the Eurozone for several weeks.

Also, that Greggs is to open some shops in the Newcastle area from Monday.

So it does look as if the economic world has begun its recovery from the coronavirus stoppage.

PS: on a more optimistic note, there are increasing signs of a relaxation of restrictions in a good number of different countries.

... Futures in New York slid as much as 30%, snapping a four-day recovery as the United States Oil Fund LP said it will move all the money it invested in the front-month June WTI oil contract starting today, triggering a massive swing in the price relationship between the June and July contracts.

“Some of this downward pressure particularly in the June contract is an increasing lack of liquidity,” said John Kilduff, a partner at hedge fund Again Capital LLC. This is not coming only from the USO, but also due to brokerage firms, like Marex Spectron and TD Ameritrade, restricting client’s abilities to add new positions to certain crude contracts, according to Kilduff.

“It’s going to exacerbate the whole marrying of the June contract with the over supplied physical conditions and the lack of storage,” Kilduff said... (from a Bloomberg article).

H's absence is a loss to the board, JL, there's no doubt about that.

It would also help if prospects for the oil price could perk up a bit!

Cash "North of £4m", after the recent convertible loan.

Interviewer asked about boardroom unrest: "well, well behind us"

Re coronavirus:

Has posed "no issues at all" to the company, which had the good fortune to complete its field work beforehand, although, later in the interview, he spoke of some contractors as mentioning it.

Re Balcombe:

would welcome an up-to-date government statement in support of onshore oil production (if it's not a recent statement, councils tend to ignore it).

WTI ill at ease again:

In a sign that investors are fleeing the volatility at the front of the curve, holdings of June WTI fell by almost 40% last week. On Friday, the U.S. Oil Fund ETF said it is under regulatory pressure because of the size of some of its futures positions

“The shift of open interest away from June, should it pursue, will have negative consequences for the liquidity of the contract, potentially leading in our view to greater volatility in its price.,” said BNP Paribas head of commodities strategy Harry Tchilinguirian. (from a Bloomberg article)

In a sign that investors are fleeing the volatility at the front of the curve, holdings of June WTI fell by almost 40% last week. On Friday, the U.S. Oil Fund ETF said it is under regulatory pressure because of the size of some of its futures positions

“The shift of open interest away from June, should it pursue, will have negative consequences for the liquidity of the contract, potentially leading in our view to greater volatility in its price.,” said BNP Paribas head of commodities strategy Harry Tchilinguirian. (from a Bloomberg article)

More ships!

https://www.bloomberg.com/news/articles/2020-04-27/oil-glut-swells-off-asian-trading-hub-on-global-storage-scramble?sref=Em01M8Hr

Backwoodsman,

Proceeds from shares issues and convertible loan financing do NOT constitute income.

... most of UKIG’s income is from death spiral finance and placings.
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The market cap is low, agreed, especially given the company's current cash resources and the projected cash flows contained in the Saltfleetby CPR of 05/03.

https://www.bloomberg.com/news/articles/2020-04-26/dubai-stocks-rise-most-in-mideast-as-states-start-to-ease-curbs?sref=Em01M8Hr