Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yes they said that all oil supplies destined for the UK have all been bought and they are now looking at a 3 week lead time for resupply and then its limited. Not sure if production is being cut in any countries or just the shutdown slowing the production to delivery process.
Just tried to order heating oil to be told there is a global oil shortage and prices per litre are similar to when oil was at $65 a barrel and my supplier is normally the cheapest. Been shopping around and getting the same answer.
I believe that the BOD need to outline their plans for the future reduction of the share capital to restore some confidence here.
I am a long term holder with a large stake and understand the need for explorers to fund raise on a regular basis but am now starting to get a little nervous myself as to the number of shares in issue.
IMO a share consolidation is not the answer as technically you have the same number of shares simply grouped into a share of larger value which gives it more scope to fall back against the current unconsolidated price. Is what I want to see here is some indication that when funds allow the Company will instigate a share buy back scheme. Even if a couple of years down the line at least it will restore some confidence to stay in here long term.
Unfortunately I cannot make the AGM but hopefully someone attending will raise the question.
It's been set up as asubsidiary owned by Sound but as an EEA company, European Economic Area.
My guess is that it is a cautionary measure to keep one step ahead of the Brexit shambles in case of no deal.
IMO, I predict the plan is to continue increasing the stake in HHDL where possible to maximise their share of the income.
The issue of shares for the consideration is the best way to do it whilst retaining funds to accelerate the growth of the company.
Whilst they have changed status to a producer, UKOG are still predominantly an explorer with many project still to follow so I would be prepared for similar moves to follow.
Once revenue allows they will hopefully instigate a share buy back scheme but I expect this to be a couple of years down the line.
This share is, again imo, a share that needs holding and building upon with funds you can afford to tie up for 2 to 5 years to realise the real benefits which will come with patience.
Don't forget they have acquired an extra 6% here which at their predicted 2000 bopd at say $50 per barrel equates to an extra 2.1 million a year, so a 1 year pay back on this deal.
Wow, nothing like a good old bicker in the morning to get the grumps out of the way and face the rest of the day with a smile.
I am not taking anyone's side here but I have watched the interview and it says that the flow testing has stopped and it is now just maintenance in preparation for the next drill in 1 - 2 months time in the spring. That does suggest to me a period of quiet at HH no doubt whilst the APEX anaylsis is underway and further analysis of the EWT.