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GreyPanther
The drills at wnb are to delineafe the extent of KA & use the opportunity to continue down to Cadeby in an area where they anticipate bretter porosity & permeability. The second drill will be a horizontal across KA which i would imagine will be drilled as a production well. Makes perfect economic sense to do it this way. If they hit oil at Cadeby (&i think they will) the value of the license area will rocket.
Does anyone know for certain what the main objectives are in the next two wells at the WNB site? There's been some talk here about the deeper pay zone, the Cadeby, in which oil shows were seen in one of the earlier wells but nothing yet of commercial value. If it was my money (which I suppose some of it is, as a shareholder) I'd prefer them to concentrate on the Kirkham Abbey as that's where all the oil and gas were in the WNA 1 and 2 wells. There's a lot of value there already, so I wouldn't want to compromise that by drilling in the wrong place. Come to think of it, the UJO valuation is pretty weird. We have a current market cap of about £24.7 million, probably about £7.2 million in cash allowing for ongoing licence expenditures, so leaving the cash out of it for now, the value of all our licence assets is only about £17.5 million. With a West Newton interest of 16.665%, plus other good assets, this seems way too low to me. If we had no other licences this would place a market value of only about £105 million on the whole of West Newton. This can't be right, can it?
"Well, if Deep zone hit oil in WN-B, that’s alone £100m (on the top of shallow discovered oil/gas). Discovered oil/gas worth around $100m. Wressle to make £3M/yr and Bisca £80-100m (best case). To note, WN hit oil in deep zone but poorly developed, WN-B will target optimal area"
https://twitter.com/sadaatumar/status/1205444208007491584?s=19
1-2p TP. West Newton alone probably 0.7-1p right now.
Was 0.3 & marching before the placing, now cashed up for all three assets. Gl
A Tory landslide was what the markets wanted and I can see energy security being very high on this governments agenda as we pursue brexit full steam ahead. Now who has the UK's largest onshore discovery ;)
Stock up because at any moment the churn will be done and MM's will struggle to hold it here. News as we know is expected on all fronts and once they turn it on they will maintain the momentum. Really think +100m on the right news, all the hall marks with the political back drop and energy security of the UK.
Hi Fairview... DB said he was fully funded for all planned works... planned works have changed and getting bigger? He acts best for company and share holder...
Just going back to ninetails point about straightalker earlier I often wonder what the value of these boards really is. There are people trying to push the price up, there are people trying to push the price down. I wrote on here that we had no need to raise cash this year and that proved to be wrong at great cost to me. Thing is DB gave an interview at the end of September saying that their cash position was fine. What and then Rathlin hand him a work plan for 2020 and he suddenly realises they need cash right now. Who can you trust? Answer; no one.
Well look I can't be bothered to spend a long time on this argument because I think Wressle is getting approved anyway. However this is from gov.uk:
"Planning appeals can also be ‘recovered’ for decision by ministers. A recovered appeal is one where instead of an inspector making the decision, he or she will write a report that will make a recommendation on how the appeal should be determined. This will then be passed to the secretary of state to make the decision, taking into account the inspector’s recommendation."
" The secretary of state will normally only do this if the application conflicts with national policy in important ways, or is nationally significant."
Straighttalker...You are obviously a well read and educated poster, with many connections, unlike myself a working class investor with a laptop and an iPhone, I am home on leave at the moment and have time to kill, so I read your lse posting history back as far as the beginning of October, you might want to read it yourself, (if you are honest you will be slightly embarrassed) before continuing to post in the emphatic manor you do, once read you will have to agree that most of what you staunchly predicted about one thing or another was proven to be wrong...
Ooops! Touched a nerve!
FV - From the way he is banging on about it, sounds like the decision lies with STalker (Or whatever his moniker is today)
Yes I understand that there is a need to wait until the constitution of a new government but the decision is in the hands of the planning inspector. Do you agree with that?
AJamesW keeps on about ministerial approval and you seem to be agreeing with him. Why should we need ministerial approval? This is a decision for the Planning Inspector surely?
Eyes on, news imminent. Gl