Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Of course .....our Dave is a SCHMooooooV player.
https://www.youtube.com/watch?v=4NRXx6U8ABQ
“ PS I have a new theory.
Get in to the mind of Dave.
To be continued ......”
Full beam head lights may work?
Hello Heid. I'm certainly hoping that Mr B won't set his sights on Egdon or Europa as UJO needs their various operatorships and (most of) their licences like a hole in the head. IMHO, of course! Still it could be worse; UKOG and Angus would be even more disastrous.
Hi GreyPanther,
We will have to wait and see how the next 6/12 months pans out.
In my opinion if West Newton does the biz our Dave will not just sit on a pile of cash.
He has probably already got his next two or three moves planned dependent upon circumstances. One of which I believe would be to buy another small oiler.
Hello Heid. I really enjoyed the Pet Shop Boys - just like old times - but I don't think we know (yet) which of the UK onshore players really has the brains and who's got the looks - other than UJO of course! There are two possibly interesting Wressle partners and some other small UK onshore players who, on the face of it, might fit. Their smaller size also makes them seem a suitable takeover target for UJO, plus they seem to be struggling IMHO. But you need to bear in mind that almost all of them are operating companies. I recall that Mr Bramhill saying several times that operatorship wasn't a part of his strategy for UJO. Sme of them also have non-UK assets which wouldn't fit well with UJO's. I should add that unwanted assets can always be disposed of, of course. So, we can dream, but I'm not holding my breath on the merger front, if that's what's on your mind. ATB, GP
PS, don't leave anyone out here who are part of any assets here.
All one big happy family this.
Everyone could do well.
Ever played UNO ? Swop back.
Interesting times to come.
I do think me and you are on to something here GreyPanther with our thinking.
You make a good point with Humber too.
This really is a case of joining the dots.
I am not sure if you have joined the dots quite like me yet when I speak of this oil company that Union Jack may buy in to if West Newton B goes to plan and we flip the PEDL.
Ok, I am further down the line here but I am pretty convinced so is David.
If my golden dice land on 6's I will raise my prediction to 4p here.
This 'oil company' .. : -)) ... think.... I have.
I shall revisit this further in a few months.
https://www.youtube.com/watch?v=di60NYGu03Y
All imo, x
Hello again Heid. I must admit that Biscathorpe, while not huge, is pretty good for the Onshore UK, and it's certainly the right size for UJO. So I'm guessing they'll probably want to stay with it for the duration, through exploration and appraisal via the sidetrack well, to development and ultimately production if things work out well. It's also worth bearing in mind that B'thorpe is governed by a different local authority to Wressle, so it will be Lincs CC, rather than North Lincs Council, who administer Wressle, that will control the planning process. They (Lincs CC) have a much better record with oil exploration activities, probably because they've had a lot more exposure to oil operations than that other lot at North Lincs Council. This prospect is probably good enough for other parties to show interest in it as matters progress. We can only wait and see, but it's interesting that Humber wants to keep 15% of it.
That is the whole point GreyPanther.
Biscathorpe is big enough for Union Jack Oil to deal with and who would complain about those production numbers.
Now there is a chance I guess that Biscathorpe could be sold on too. I am sure if West Newton is proven and sold on their will be interest too in the BIscathorpe license.
Wressle will also give a great income for the company with the potential to increase BOPD.
So, there we would have a nice big pot of cash in David's coffers.
What would he do with all this money ? I do actually have a thought on this which could play right in to their hands. Not something anyone of you would of thought of I doub,t but sits quite cleverly in my mind involving another oil company.
Good post GreyPanther and it seems you know your geology very well.
I've probably not a lot more to add at this point but I have additional research on Biscathorpe that I will share when it comes back into focus. Right now it counts for nothing until they nail the Side Track. So I'm just keeping my focus on West Newton. Wressle is already a home run so nothing much to say there other than I expect they will bed down the current operations, prove themselves up to locals and NLC before looking to extend the site.... but that's ok.. no hurry.
What I would say about Bisc is that GB and DB have probably never studied another PEDL like it or the formations and Dave is still pretty excited so I'm guess more to come.
Right catch you all later... Mix
Hello Heid. I like Biscathorpe a lot too. However, we should bear in mind what UJO have actually said about it. Leaving aside Mr Bramhill’s recent interview comments, their latest published info was in their 28 July RNS. On the technical front UJO more or less repeated what they and Egdon had said previously. As far as “reserves” go, and I put the term in inverted commas on purpose, they said:
"The Mean Prospective Resources associated with the primary Westphalian target area are estimated by the Operator, Egdon Resources plc to be 3.95 million barrels of oil (mmbbls), with an upside case of 6.69 mmbbls".
The conventional view of “Prospective Resources” is that they are potentially recoverable oil or gas, so UJO’s (soon to be) 30% share would be about 1.19 to 2.01 million barrels of oil. This would be nice, but it’s not a huge amount compared with West Newton. Mind you, the Dinantian is potentially much larger, and they also said:
“An assessment of the Dinantian oil volumes has also been modelled with volumetric assumptions as being filled to spill and a proven likely live oil column following the results of the APT exercise. Mean Stock Tank Oil Initially in Place within the Dinantian has been calculated by the Operator to be 24.3 mmbbls with an upside case of 36 mmbbls”
It’s worth reading what their 28 July RNS said about the Dinantian very carefully. These are large numbers, but they are only oil in place, so you might have to multiply them by about 20% (or even less) to calculate the potentially recoverable amounts. I say this because the Dinantian isn’t generally a fabulous reservoir in the UK. It’s certainly not often as good as the Westphalian. In any event, 24.3 to 36 mm bbls of Dinantian oil in place x UJO’s 30% x (say) a 20% recovery gives UJO another 1.46 to 2.16 million barrels if things work out really well in the Dinantian. So I’d certainly agree that it’s very interesting so far, but not exactly huge. All the best, GP
PS I have a new theory.
Get in to the mind of Dave.
To be continued ......
Not much gets discussed about that on this board.
Yet Dave just loves to add it in to every interview, like his favourite toy at Xmas. He knows that could potentially be a whopper. Graham Bull knows his stuff.
They prove up West Newton, flip that. In my opinion they already have buyers awaiting the results. Think about the Carbon Intensity Study awarded. Do you think that was done for fun ? Does Uncle Stephen down at the Hill hold such a certificate...nope... his heads more up the turkey.
I think Keddington production will be increased next year too, already factored in.
Forward plan at Dave's meetings already... Wressle... The production there will be increased. We know that is capable of 700 BOPD already. Those Pennystones will unlock much more.
This company is impressive and strategic in their planning an execution.
Lastly, Reabold. They raised a considerable some for West Newton. and we have Rathlin too who are one of the best.
Couldn't be in a better position as a company imo.