May I suggest that we had 3 tanker loads out yesterday, and 1 load of diesel fuel in. Since we have purchased all of the surface gear it is up to ukog to buy the fuel to run all the equipment. It makes sense to run a full tanker load in while the price is so low. That tanker will have taken a load of oil back out. It is highly unlikely that a load of bad oil could have left our site. All IMO. GLA. GLA.
IMO will be still running and I will continue to hold all of my shares, as this will slowly climb up from now .. IMO the well will be clean now and we will just control production through the choke. With any luck Brent oil will rise and we will get a double bonus. All in my opinion, but feel strongly that I am right. GLA.
IMO it would be normal to run our well for 24Hrs. at ground pressure to prevent an influx of dirt into the pipe work. Even after the pump starts to pump it would be on a tight choke for a while. So do not expect a flood of tankers until next week. All IMO. GLA.
SS and our institutional investors have this well in hand. Our latest investors could receive a hypothetical 20 % return on their outlay if the profit (at this time) from 2 tankers a day plus our 80 barrels a day from else where was elected to go as a dividend. I would expect a new board member to be elected very shortly to protect our investors outlay, As this is the normal procedure. Watch out when SS and company find out that YA and company have disposed of all of their shares, which will result in a big and sudden rise in oil produced. And who said SS was dumb. This is how I expect UKOG wil go forward and is all IMO. GLA.
Have done this deal 2 or 3 weeks ago, but I do not know how difficult it has been for him to secure it. At the rate of conversions today it would appear to me that YA and company should have cleared all of their overhang of conversions by tomorrow night. This is my opinion only and it is not a recommend to buy even though I think it is good. GLA.
Brent oil rising every day means more profit. Tankers running again. Ordinary PI,s cannot stop YA and do not need to bother, as YA are good business people and know that oil is going to rebound upwards and that,s the reason for the last batch of conversions, or they would have missed the boat. Stay strong and hold on, IMO. GLA.
SS has already taken action regarding the Covid 19 situation, and I am quite happy to await a rise in the price of Brent Oil to increase our profit from around £150,000 per month based on the price of $34 a barrel. I will be happy when we start to do the long term testing again on our H2z well, and will be content for production to rise 4 tankers a day in total. IMO only. GLA.
Ocelot, Could be as I stated earlier SS intends to buy back the loan, it is only 6 days since the last conversion and so Riverfort is pushing to buy our shares before SS has the money to dampen their efforts. Another point could be Riverfort could spend money from the share sales on July and August Brent Oil futures. IMO. GLA.
IMO SS has UKOG well under control and does not need to increase our production from the average of 2 tankers a day because we are making more money clear profit everyday that oil continues to rise. I hope he is aiming for £150,000 a month clear to pay down YA loan every time they notify us they are going to convert loan into shares. I think this is what he has in mind or I hope so. SS is now in a good position to borrow on the market to pay off YA. ALL IMO. GLA. GLA.
Mirasol I believe what we have been told in a RNS in the past that we are producing 309 barrels a day 7 days a week is 10 tankers over 5 days. The earnings figure is based at this time on $28 dollars a barrel. SS seems to be doing what I would do. Mind you it took me many years to make a decent amount of money and so I can wait , for a lump more, for some time yet. SS is now in a good position and does not need any more loans. IMO. GLA.
Is a wise man, IMO. as at the present time we are earning over £100000 per month clear of costs.. This is clearly indicated by his wish to pay in cash to Riverfort or YA £75000, when he could under the terms of our agreement have held them to a conversion of £150000. If oil continues to rise to above $34 per barrel he could if he wishes pay Riverfort (YA) £150000 everytime they are inclined to convert, and prevent them converting any more than that amount. Good man SS. This is IMO. GLA.