Member Info for ocelot

... our strategy of diversifying our source of hydrocarbons by participating in the developments of fields which already have a proven production record but bring with them very substantial reserve opportunities (last Friday's RNS).It looks as if new management is relatively risk-averse and decided one Weald oil license was enough for ANGS at the present time.Over time, if they can build up a revenue stream, this may lead to a higher rating for ANGS, because its cash flow will be thought of as being more reliable.

The answer to that is in the Statement of Cash Flows in the Half-Year report of last Friday, 28/06.

If only Genel could continue to out-perform like that!

My tip would be to avoid attaching too much credence to a Motley Fool article.

But am sorry to hear of your loss and wish you all the best.

Agreed, Boyo, but Brent had come back a good long way by yesterday's market close.

Boyo,

Oanda was about $65.80 at the time of yesterday's closing auction, so it is only down very marginally since then ($65.66 now).

Agree with your conclusion, RipleyBogle.

It looks as if, after Broadford Bridge and now Brockham, the market has become somewhat dismissive of the Kimmeridge, creating upside potential for the future.

Bought a little - still a tiny position.

2

BigTen4,

If only you'd made that prediction one week ago!

CaptainStanley,
"If the Horse Hill Kimmeridge doesn't flow good sustained flows then it's over and UKOG will have to re-define what it is".
But the Kimmeridge IS flowing at HH, as the ewt has already shown!

On further reflection, I wonder if Brockham doesn't actually help UKOG in some ways, because it:
1/takes off some of the pressure to prove up the Weald concept;
2/ makes it easier to treat each asset on its own merits (not that this wasn't being done anyway!).

In one of the recent interviews GL gave, he justified the placing, in part, by saying that, these days, to be taken seriously in deal-making, a company must have cash on the balance sheet.

I do wonder if they aren't working on some more positive news.

Whoops!

Wrote my last post before reading Yinyang's of 19:43.

Another possibility:

that if they are prepared to sell out of Brockham, it may be because they have already identified another asset to acquire elsewhere.

That's with hindsight, Ninetails.

I don't suppose seadoc knows when the rig will arrive any better than any of us.

OPEC will extend production cuts into 2020 as the world’s leading oil exporters fret about a weakening outlook for global demand growth and the relentless rise in output from America’s shale fields.

Ministers from the group meeting in Vienna agreed to prolong their supply curbs by another nine months, said delegates, asking not to be named because the talks were ongoing. The decision still needs to be ratified by non-OPEC allies on Wednesday, but several of those nations, most notably Russia, have already given their approval...

https://www.bloomberg.com/news/articles/2019-07-01/opec-set-to-extend-oil-output-cuts-into-2020-as-demand-falters?srnd=premium-europe

SULAIMANI, Kurdistan Region — The Kurdistan Democratic Party (KDP) said on Monday they have agreed with the Patriotic Union of Kurdistan (PUK) to back a candidate to become the next governor of Kirkuk. However, neither side has revealed the candidate's name...

my comment: If true, would mark a major breakthrough for KDP-PUK relations.

http://www.rudaw.net/english/kurdistan/01072019

Fail to see why "there is genuine concern that licenses will be taken away".
It is a well-known fact that oil drilling does not have a 100%-success rate.
And they are funded.
Who is expressing this concern?

.