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ItsAW - I see her / him and many others on here as addicted to posting notices mostly through a time when the Chairman has virtually ceased communicating with shareholders because he is rightly fed up with the constant barrage of criticism from those who have little else to do with their time. What is the point of this constant torrent of verbage saying the same things over and over again? Given the global environment at the moment there is no safer place to be than invested in this company and its just a matter of time before we become the biggest onshore producer in UK. The Wressle results are remarkable and the future looks very promising.
I'm no fan of heid but I don't believe she's a paid ramper, I see her as an over enthusiastic investor-blogger who loves the sound of her own voice and is desperate to appear relevant. imo there is a much more obvious UJO representative on this bb, his posts are sensible and well informed although he has recently started to engage in petty squabbles, mainly with royoboy
Heid is no better than those spivs selling 'Rolex watches' to thick punters who believe them at cheap holiday destination airports in Europe.
The expression "If it seems too good to be true then it almost certainly isn't" comes to my mind about Heid's relentless paid Ramping.
It’s not a CPR is it Heid.
It’s a Reserves and Resources Report…read the RNS rather than the script you’ve been given…
So you are wrong - fact.
Do you know the difference, or do you prefer not to say?
". So my take is there’s an ongoing discussion with GC about decline rates and economic cut offs"
that CPR is a very long time coming 8 months? think of the cost... almost as long as the Leak Report we ere promised
My belief is the partners already know the CPR for the Pennystone Flags.
You believe me or you believe RNSTranslator.
Your choice.
Heid can’t help themselves but enhance the information in the RNS.
“ The upside on the Pennystones is more than they believed. This tells me the partners already know the Pennystone CPR ”
They actually said this:
“…*****tone Flags reservoir where detailed work is underway to develop the material Contingent Resources of 1.86 million barrels of oil equivalent..” this is the number from the previous CPR, so quite why it’s more than they believed who knows hey Heid.
They also state what the RR Report will contain and there isn’t a revised CPR for the Penlstone Flags Reserves, just a production profile. They said “ Generate an indicative 2C production profile for the *****tone Flags reservoir”
So quite how the partners know the result of a *****tone CPR, when there isn’t one is Heids typical spinning if the facts…
Perhaps if Heid actually read the RNS it might help, rather than just make stuff up…
David spoke of Wressle being a terrific onshore well & spoke of it being the second largest onshore oil field after Wytch Farm, with a few constrictions removed away we go to a 1000 bopd + plus sale of the gas to grid.
David spoke confidently asking Gaffney Cline, which isn’t cheap, to expand the report. David said if not they would not have ‘gone in the lion's den’ as in they know the report is going to be impressive. The partners anticipate depletion rates/results from the report that are bullish/ v good . This does not surprise me with a 15 year license for Wressle.
The upside on the Pennystones is more than they believed. This tells me the partners already know the Pennystone CPR and hence why they have expanded the report. The pressure is absolutely amazing from the daily reports.
For me Wressle is fabulous well now and only in its infancy, just wait until we get in to 2023 the revenues will be outstanding.
The interview also had mentions of institutions and big expectations for this year.
Strong Buy imo.
“where's RNST?“
I’m here…missing me? - bless!
Nothing new in the results.
The only bit of worthwhile info was in the video, where he talked about Gaffney Cline. “Into the lions den” he said.
Quite, those guys won’t take any BS from management (unlike some others) and whatever they deliver will be credible. He did mention decline rates. So my take is there’s an ongoing discussion with GC about decline rates and economic cut offs to determine reserves. Suspect it’ll be upgraded.
Interestingly they re published the old CPR P50 numbers.
Until we get sight of the Gaffney Cline report it’s all same old same old.. can’t understand why he can’t say approximately when it’s going to be ready.
Page 41 (Accounts 2021) £147,771 Royality income. David's worth his Pay rise!
Compare cash balance on 22/4/22 (£7.05m) with the balance in the results RNS 9/5/22 (£7.55m) and you get how much?
How much in just SIXTEEN DAYS?
RNST always tries to point out that the cash balance is only up by 'only' £500k for every $1m dollars earned, thereby conveniently glossing over the ongoing requirement for capital investment out of that cash flow (to enhance future production/cash flow i.e. what is colloquially called 'a business').
He'll probably now be trying whining that the past few weeks haven't has capital expenditure therefore it doesn't count.
Notice in that interview this morning, DB said the company would have DOUBLE DIGIT income this year in MILLLIONS of POUNDS?? That was no slip of the tongue, and it was the bit that caught my ears the most.
Anyone else wonder why RNST spends so much time here putting the most negative possible spin and conflating fact and fiction to suit whatever bull**** narrative he's spinning today, when he holds no investment interest allegedly? Single issue obsessive stalker?
Don't be fooled by the rock that he's got, he's still Jenny from the block.