Member Info for therealengineer1

The price of oil i.e. Brent crude is the traded price. Where the oil can be sold in a market. The oil traded at this price is usually on tankers in an ocean. Much of the crude say sold from Saudi to China is for an agreed volume and price agreed in advance. Some may also be based on the spot price or there will be a mechanism in the contract to adjust for the spot price. but most refineries would like a steady price of crude which is where you get futures etc.

Crude oil has been stabilised to make it mostly safe to handle, it will have been degassed and maybe some sulfur removed so it does not give off too much Hydrogen Sulphide.

The Chinese are arranging funding. Therefore I do not expect anything until after the 30th Jan when the New Year starts.

Abramovitch's investment in VLS would tell us that a billionaire will still only invest as much as he is prepared to lose and has the ability to tolerate loses the rest of us can only dream of.

More dilution is what I see. Will this company ever conclude this deal?

Oracle Coalfields has funds to reach financial close at Thar

https://www.proactiveinvestors.com/companies/news/68008/oracle-coalfields-has-funds-to-reach-financial-close-at-thar-79255.html

Interesting proposal for complimentary development. Coal gasification to urea could use steam and provide a good baseload power consumer for the power station. Four years to develop a Urea plant.

Still has to increase five fold for me to breakeven though .....

Correct, the company intention from this drill is confirm oil in place. The production well is proposed to be from Wytch Farm where there is existing infrastructure to process the oil.

One more week to wait.