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Well I keep adding a few more shares as YA convert. Today the best I could get offered 500000 for was .298 if that had been lower I would have pressed the button and bought. I will not be surprised if on a RNS , soon, SS has payed off YA as its now within reach, and a lot of people out there will be glad to lend us the money. Oil back into the 30.s would be a good start. IMO
GLA.
Further to my earlier post. IMO all our storage tanks will be full on site. I also think that SS and team will have done a deal with a third party to take our oil for storage and (if it was me) done a long differed payment agreement and either would agree a price above Brent oil price or differ payment until the oil is sold for a 50-50 cut. That would give us many millions above the current price and clear all our debts. All IMO.
GLA.
SS would only receive approximately £360000 this year after tax, even with his bonus payment. A man of his ability working abroad could expect 3 times that amount. Also remember his bonus was given in 2018- 2019 year when UKOG was earning much more as the price of Brent was higher, and he like us did not expect oil to drop through the floor. I have no doubt SS will not be taking a bonus this year, but just be happy that we have a man of his quality as our leader. If he had been greedy or was a football manager he would have moved abroad (as I would) and reaped the benefit. So please stop talking rubbish.
GLA.
As I have said before SS is only selling enough oil to cover our costs. This is good business sense until Covid 19 starts to decline and world consumption of oil rises and so the price. That is good business sense. IMO.
GLA.
Mullins, what people do not seem to understand is that we are producing just enough oil per day to cover our costs until oil price rises. I said this some time ago, and the way I read the report suggests that is what we are doing.
GLA.
I would like to believe that the choke was opened up on HH2Z and the oil gushed. That choke will have been reduced to allow a build up of pressure. I am happy to think that it shows how much is oil is likely when we go for serious production. All IMO.
GLA.
I agree with what has been said earlier, and just to let you know my daughters agent in Chins feels that they are well in control of the virus and the factories are firing up again.She was assured yesterday that the many thousands of face masks and other health and safety equipment would arrive in the UK next week.
GLA.
Pboo, The heater that was delivered recently was for the de-wax treatment and is assisted by the high pressure pump. SO YOU ARE CORRECT IMO. This type of clean up can last as long as the site operator desires. As far as I am aware this will last until SS is happy with the amount of Portland oil flowing to the surface, so if he wants a thousand barrels a day it will be continuing until he is happy with the amount. I am pleased by the way we seem to be progressing,. All in my opinion..
GLA.
PCS what is very likely in the next day or so is that Russia and Saudi will agree to cut production and oil will rise and both countries will make a killing on the low priced oil futures they have bought, and UKOG will rise also. By the way my family have been in the oil industry for over 30 years.
GLA.