If fracking is allowed this will be exponential. I remember that NUTECH estimated 3% - 15% via conventional extraction and 40% recoverable if fracking.
I've been invested since September 2014 but have yet to post anything. There's more to UKOG than just HH. They actually have interests in existing licenses which are currently producing. Here's a link which could explain why UKOG is expanding its interests in other licenses as well. Except for IOW the other licenses have no mention of KC but we know the KC extends further and beyond. [link]
I bought in from 3.40 p to 6.50 p. But I all for 2-3 years in my investment time line. It's Cedros that I'm after. All the best.
I agree with longtrade. The aerial survey may have yielded some interesting data. All we can do it wait. I have bought some at 6 p too but the end game is still Cedros. My opinion of course.
Perhaps the advice was in anticipation that oil price will be much higher in September than in the coming few weeks? Would higher oil price have an impact on the CPR
Another casualty from the crude oil saga. Canadian drilling company in Texas files for bankruptcy. [link]
An interesting read on the myth behind the US shale oil revolution. Possibly written prior to the crude oil crisis, the report did not include the impact of the current crude oil price which, if taken into consideration can further damage the US shale oil revolution. Link: [link]
About the placing... The first question that comes to mind is why the paltry sum and not more. I tend to agree with several posters here that it is to secure the senior debt and likely LGO needs to pass a 'stress test' set by the lending bank in view of the current oil price. If so, what makes this senior debt a must have? I can only think of only two. One, that a major acquisition is on the cards hence the needs for large funding or two, LGO needs the funds to start a drilling campaign in Cedros which has been mentioned many times and again in yesterday's RNS. Just my two cents worth.