Member Info for ocelot

https://www.bloomberg.com/news/articles/2020-04-11/the-secret-weapon-that-gives-mexico-power-in-the-oil-price-war?sref=Em01M8Hr

Agreed.

https://www.reuters.com/article/us-mexico-oil-hedge-insight/mexico-goes-ghost-as-its-oil-hedge-bill-spirals-idUSKBN1ZM1JJ

Mexico's hedging program is known as Wall Street’s biggest oil trade.

Mexico still holding out, not much time left to settle this (London may be closed on Monday, but Wall St isn't).

However, Ocelot made the very good point earlier that hype might see this spike on good news.
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What I said was this (assuming this is what you are referring to, Backwoodsman):

It got to 11p intraday on hopes for Broadford Bridge and the stake taken in the company by SCDM, the private investment vehicle of the Bouygues family.

From the post of roganjt (one of the Eyes) of 15:51 on the UKOG board (with thanks):

... I think HH2z is flowing but choked back, we are delivering between the 2 wells 400ish a day, not brilliant but that's what seems to be going on at the moment. This may be for a number of reasons, but lack of oil is not one of the reasons, so I believe. I understand that the storage on site will be full, or near full, by Tuesday morning and they made need to choke back some more...

I though Nutech and Schlumberger did that!

Not sure about that: doesn't October 2018 take them back to a time of quite high production?

Talks continue:

https://www.bloomberg.com/news/articles/2020-04-11/aramco-delays-oil-pricing-statement-as-opec-talks-continue?sref=Em01M8Hr

This is an old PI favourite that got to 11p intraday on the 100 gazillion barrel hype after all.
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It got to 11p intraday on hopes for Broadford Bridge and the stake taken in the company by SCDM, the private investment vehicle of the Bouygues family.

backwoodsman,

Volume has been picking up recently, so the low price appears to be encouraging new buying, but, as always, time will tell.

Debt of £2.4m, which can be settled in new shares: an awful lot of oil companies would like to be in the same position!

At least, Trump, Putin and MBS are all talking together and seeking to act rationally.

For a while there, after the break-up of the OPEC+ meeting of early March, Russia and Saudi Arabia seemed to have gone "crazy" (to use Trump's word), which, in turn, made investment in oil and oil stocks a pretty crazy proposition.

... a compromise backed by Trump will be discussed between the Latin American country and Saudi Arabia on Saturday. Russia has already said it considers the plan a done deal. (from Bloomberg)

Iraq's contribution to the cuts is 1m bopd.

Kimmeridge oil at Brockham failed to flow so was proven to be non-commercial.

Last Autumn, the company took on a convertible loan of £1m from Riverfort (of which £600k remains outstanding) in order, above all, to set aside the funds to a dedicated bank account for the decommissioning of Brockham and Lidsey in the future.

Very recently, the Planning Officer of WSCC recommended denial of the company's application for an ewt at Balcombe (the planned committee meeting has been postponed because of coronavirus).

All of that has weighed on the share price.

Much more positively, Saltfleetby continues to advance in line with the company's timetable.

Good to hear from you, Yanis, and thank you for the information.

Best wishes.

That is one point we are all agreed upon, the share price has come down a long way!

https://uk.reuters.com/article/uk-global-oil-g20-energy/saudi-russia-work-oil-cut-deal-in-g20-talks-seek-u-s-participation-idUKKCN21S0TW

"Global oil deal elusive as Saudi-Russia pact meets resistance":

https://www.bloomberg.com/news/articles/2020-04-10/mexico-reaches-oil-output-cuts-agreement-with-opec-and-trump?sref=Em01M8Hr

DUBAI/MOSCOW (Reuters) - Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective oil production cuts equivalent to 10% of global supplies and will push the United States and other producers to remove a further 5%...

https://uk.reuters.com/article/uk-global-oil-g20-energy/saudi-russia-seek-to-finalise-oil-cuts-in-g20-talks-want-u-s-involved-idUKKCN21S0TW