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Thanks for the reply Manwell. That makes sense. It would be nice to be told officially either way. This is a hold from me until further official clarification is received. Keeping powder dry to buy more lower if there is a big WN delay in to the summer.
Manwell, I just want to know what their plans are, nothing released lately
PDMS: maybe the data that they have received back has indicated that its not the optimum location, porosity & permeability could be lower than expected. To appraise a field sometimes multiple wells are required to find that optimum location. You only have to look at HUR, Lancaster produced 10,000 bopd and was choked back, Lincoln was 9,800 (well was west of Lancaster) but Warwick west was only 1,300 bopd (well was west of Lincoln). I think WNB site is approx. 4 miles away from WNA site, a lot can change to the structure over that distance. I would rather they found the optimum location first rather than try to do a well test which produces next to nothing. all imho of course...
Manwell; Why do you think testing of WNA2 has not resumed? Initially I thought permits and planning but can’t find any applications. As time dragged on past nov I began to suspect that Kirkham Abbey will only be appraised from WNB-1 but I can’t work out why they wouldn’t just do it from WNA-2 as they said they would. What has led them to decide not to re enter WNA2 and opt to drill another appraisal well? It’s an expensive option. Why would they do it? Is a re perf of WNA2 risky? What’s your assessment?
Testing all three wells at once would save on costs.
WNB site not even constructed yet. Both wells will take about 140 days. Testing Jan 21. Depending on outcome of data analysis they may not even test WNA2.
That’s not what I said is it. I think WNA2 won’t be tested. If it’s tested at all it won’t be until after WNB wells are drilled. WNB-1 is now the appraisal well for the Kirkham abbey and that will be drilled in July hopefully the tested in Aug/Sep. if they can’t get the necessary level of data to prove the discovery to a point of sale, then and only then would they re enter WNA2. That would be the end of the year. This is dependent on Rathlin doing what they say they would do on the drilling program. Rathlin have been spinning all sorts of yarns at the residents liaison meetings. Rathlin have the money. Execution of the work program is dependent on Rathlin paying out the cash but they aren’t a listed company are they. That’s why I won’t be relaxed here until work restarts because the current silence makes me suspicious that Rathlin are not proceeding with the work program and I want to know why.
Clearly WN news is critical. Why, PDMS, do you think that's a year away?
Surely shouldn't take that long.
Fwiw, it would suit me if it did, bcos I am currently not invested. But I would be interested to hear why you, or anyone else, thinks it would take so long.
Jimmybob,
Beware of individuals, most are con artists.
In last 2 weeks this individual was on the ukog board, ****ging ukog and saying that RBD was the best thing since sliced bread.
Now all has changed.
Why, when no news has been issued, or can someone be that insecure??? the mind boggles as they say
PDMS I suspect you sold and are looking to get back in? You were very positive through thick and think in the past? What has changed the asset is now massive and we have finding as do most of our partners. We have a committed board be patient or are you looking to get in cheaper? If you are good luck nothing wrong with being a trader! JP
It will be post election now is my guess for any news regarding UK.
I don’t care what anybody’s analysis of my position is. What I care about is seeing evidence of resumption of WNA-2 EWT as promised. Currently I can’t find any. Can you find any? I suggest everybody invested do less useless psychological profiling of third party posters and more research on what’s happening with our promised flow test and why it looks like it’s been abandoned. Only a suggestion.
I know you keep saying you are invested Piper, your posts however come across as someone who has sold all or a large stake recently on a punt of getting them back cheaper and thus far it hasn't worked out. I had a large top up at .75 and am more than happy to wait until H2 if needed all I want is the oil to flow easily with lift and maintain a decent volume on EWT nothing else concerns me.
before buying more here. I want to see permit applications for the EWT and an RNS with a start date for the EWT at WNA-2. I want to be satisfied that Rathlin are pouring the money Reabold handed over, back into WN as contracted. Until then there is significant risk and downside here. If there’s no evidence of EWT restart and this rises on nothing then I’ll be getting out with the placees. If news of EWT drops I’ll buy higher at less risk but I’m not buying here. Currently this is a hold for me. No EWT resumption news by end Jan then it’s an alarming sell and I’ll be out at a loss. GLA.