Member Info for ocelot

This will eventually help the oil price to recover:

... When we exit our however-long-it-will-be of weekdays that feel like Sundays, people will start moving again. China’s example suggests that personal car traffic will more than rebound—and that public transit will not.

https://www.bloomberg.com/news/articles/2020-04-16/post-virus-transportation-future-more-cars-fewer-trains?srnd=premium-europe&sref=Em01M8Hr

https://seekingalpha.com/news/3561136-u-s-considering-paying-drillers-to-leave-oil-in-ground-bloomberg?utm_source=investing.com&utm_medium=referral

Also: see Malcy's interview with George Lucan on Core Finance on 02/04/20:

Yesterday I managed to persuade George Lucas, MD of Angus Energy for a Zoom CEO interview with Core Finance. In a wide ranging interview on a company that I have been more positive on in recent months, we talked about his whole asset portfolio but to be fair I did concentrate on their Saltfleetby gas field in the East Midlands.

This smart acquisition of a superbly appointed field in almost production ready condition has given them a CPR of £130m of recoverable gas of which Angus gets half. This gives Angus, post costs and capex some £50m of revenue over the next ten years. The company has two planning applications to win and make a 600m pipeline to connect to the grid as well as to sign a takeoff agreement already close to agreement with a major. I’m pleasantly impressed by how well the Angus team is working despite difficult planning conditions and the share looks like it may have plenty of upside, well worth watching.

Core Finance CEO interview: George Lucan of Angus Energy

Extract from the CPR RNS of 05/03/20:

... The resulting mean value of the reserves to Angus shareholders, which is also the central case, is just over GBP25 million, with a high case of GBP35 million and a low case of GBP16.7 million.

In terms of the price per issued Angus share these low, mid and high NPV cases are therefore estimated by the Company to be worth respectively 2.9 pence, 4.4 pence and 6.1 pence per share...

And this is the December 2019 presentation (the most recent) on their website:

http://www.angusenergy.co.uk/wp-content/uploads/2019/12/Saltfleetby-Gas-Field-Dec19.pdf

And, if the police did spot fishing tackle in the car, they might well turn you back anyway!

Too slow to act, the market will decide for them.

... crude supplies ballooned by almost 20 million barrels, according the Energy Information Administration...

"Oil at 18-year low on record US fuel-demand collapse":
https://www.bloomberg.com/news/articles/2020-04-14/oil-holds-above-20-as-demand-gloom-overshadows-production-deal?sref=Em01M8Hr

Aiming for first gas in Q4.

Planning application to Lincolnshire CC should be submitted this month.

https://www.bloomberg.com/news/articles/2020-04-15/oil-glut-may-overwhelm-storage-despite-opec-cut-iea-says?srnd=premium-europe&sref=Em01M8Hr

... At current prices, 80% of the U.S. shale industry will go bankrupt, (Pioneer Resources') Sheffield estimated. Oil-storage capacity across the country will be full in a matter of weeks, and that will create a backup effect that will force drillers to shut wells, he said...

https://www.bloomberg.com/news/articles/2020-04-14/oil-executives-impugn-motives-of-texas-crude-quota-advocates?sref=Em01M8Hr

Agreed, Boyobach, it's become very difficult to pull up new posts (I keep getting "service not available") and it's not always easy to post either.

OPEC+ did as Trump had tweeted they would do, but nothing concrete came through from the G20, ie, above all, the USA.

Thought Genel held up remarkably well, given that Brent (oanda) was down about 9% from 4.30pm last Thursday to 4.30pm today.

Thought Genel held up remarkably well, given that Brent (oanda) was down about 9% from 4.30pm last Thursday to 4.30pm today.

and the 2nd RNS indicates a holding of 4.92%.

2nd RNS has corrected the first: threshold crossed on 06/04/20.

Ninety One UK Limited (was Investec Asset Management) holds 5.01%, but indicates the date the threshold was attained as ... 29/08/17, so don't know what to make of that.

https://oilprice.com/Energy/Energy-General/Saudi-Arabia-Is-Planning-Even-More-Oil-Production-Cuts.html

But Riverfort is in the nature of a "forced" seller, because it seeks to recover its loan.

So it also makes sense for PIs to buy from this "forced" seller while the seller is depressing the price.

Sorry, Ninetails, jumped in without reading all of the exchange.