Member Info for Oktane

DHCon stopped reading at "to be honest..."

Please do stay away, and instead invest and infest the ANGS.

That is all.

milender, two woods points:
first this is his life, there is nothing else, and second it is very hard to climb the pole to a leadership position, even in a rag tag outfit like Extinction Muppetry, dedication is everything!

Pboo is correct, and in addition UKOG costs post purchasing production equipment and other changes outlines in yesterday's RNS the net cost per barrel will be in the region of $11.50 per barrel, or 1/3 of BP's cost target for 2021.

But hey, I can't post 24/7 like the woddman on here, so no doubt we are about to go bust loosing so much money on todays tanker shipment at spot Brent $23...

Not good news, among many things is we are paying a finance director and this is the best he can do?? Very soon UKOG must provide us with more details of the current state of our wells at HH. Surely to sell the new issue shares WH Ireland must be suggesting there will be further news forthcoming soon?

Slight bit of good news hidden in todays RNS:

1) Only qualified investors can buy the 0.20 offer, this really keeps the costs down, and might result in the shares being bought by deeper pocketed investors looking to hold through the next oil price cyle (back up again)

2) Operating costs reductions, when fully implemented, will have us around $11.50 delivered to the refinery. This will facilitate real revenue generation on any eventual Brent crude price recovery.

As these new shares settle on 1 May, although this could be delayed as long as 1 June, let's hope this means our broker has some investors lined up already. The size of the issue could be reduced, or increased, subject to qualified investors deciding to participate. We will learn much as results come in.

SS should cut his salary/bonus further until the share price recovers above 0.80 IMO. And immediately after the results of this new share issuance he and other directors need to announce their taking an equity position in the company.

If this rallies 50% significant danger BWM will either have a complete breakdown or get recalled by his handlers.

Uninvested, on here 24/7, the mind reels at what sort of life that must be to live.

"Oh no, HH2 might be flowing well, we are loosing so much money on every tanker we will be bust by May!" BWM

He must run one mighty big business, on here 24/7 talking everything down, most likely a director of ER IMO.

Backwood, you mean a total share collapse where the market cap falls another 75% and the shares issued were to double, both like UJO?

Thanks for the warning, what would we do without you. Sad, so sad, do stay open to offers of help, Samaritans are still operating.

Cardnal, typos fixed: "Negative trades throw a wee bit of cold water on commodity lognormal distribution pricing models!"

Simple concept: price of any commodity, or stock, can go to zero, or infinity upwards. So you are as likely to see a 50% decline as a 100% move upwards. This leads to a normal distribution of changes in prices, and makes all the math very easy to calculate how far we might expect a price to change in a day, week, or month in order to manage risk.
This is backed up by supply and demaind; if oil prices stayed near zero there would be unlimited demand, and people would buy GMC Suburbans with big block 454 7.4L V8s and drive a lot, very fast.

The real world unfortunately is much more complex than this, and so we sometimes see very huge moves, or more shockingly, negative prices during an epic delivery crash like yesterday in May WTI.

Excellent not too technical pricing distribution book to read is "The Black Swan" by Nassim Talib, very good read.

Unlikely in Brent contract or next month's June WTI expiry:
1) Delivery crash needs lots of uninformed investors with no understanding of basis, contango, delivery procedures. WTI trading has much bigger retail participation than Brent. Friday's close saw longs for 108m barrels WTI delivery for May, much bigger than usual, smart oil traders saw free lunch and went way short. Negative trades throw a wee bit of cold water on commodity lognoral distriibution pricing models!
2) Having happened once, it would take Homer Simpson levels of stupidity for investors to get caught in Brent expiry or June WTI, but then again to quote A. Einstein: "The difference between genius and stupidity is there is unlimited amounts of stupidity"

Our brilliant advisor from UJO is a very, very, very sad individual that posts 24/7 on this board 100% negative comments, and disappears on any rally.

Best possible back story is ER swampie type. Unfortunately think just sad in this case, IMO.

Brent $33 up 10% today following yestedays biggest rise ever recorded in % terms shows we are seeing:

1) huge hedging as conumers lock in prices at historic low levels
2) biggest short squeeze since Tesla back in Feb
3) some speculators going long. They might be more successful than some members here.

The rubbish posted on here! We will not be destroyed if in fact a small amount of further fund raising is required before significant flows are established and Brent move further up in price.

Brent now at $30 suggests strongly smarter oil traders believe President Trump is providing useful information.

As for the Ponzi scheme, we are about to default, the NPV here is tiny crew, many serial loosers from UJO or ANGS, instead of replying, which is all they want, ignore or if making libelous statements, report to Admin.

Wizard125 player of the day last night imo for clear posts of where we are, with of course no rebuttal from the other side.

Brent crude back up to $30 hopefully keeps 'em under their rock a bit longer!

Doom and gloom screamers from Tuesday evening mostly gone quiet.

What very, very sad lives they must lead.

I am not happy with the bonus paid to our CEO, it should have come AFTER production established at HH. also not happy with the consulting fees, suspect not all are proper. Anyone of the same opinion needs to send an email as well as attend and or vote at the upcoming AGM.

But also every genuine investor, look at how little influence this board has, to hear the hair pulling last night we should have opened today down 50%, and definitly close down by the end of April. Think for yourself, do your own research. The crowd, in every market I have traded since the 1980's, is wrong, much of the time.

LSE likely protecting themselves from libel...

Just now.

FOTH's cat died, possible St Pats HO, having a bad morning. Bad time to sell IMO

"I was warned..." excellent blues by Robery Cray seems apt for today.

I hope everyone is ok here, difficult and frightening times we are living in.

It is only money. Hopefully that is not needed soon.
GLA

Keeping the forward project order book full.
UKOG will have another go using knowlwdge gained drilling elsewhere and make it flow at BB.

Doom and gloom crew up early today, best to ignore, filter or report as appropriate.

14m trade completed by close pays for another part of 86% HH output.
Value will win out over time IMO