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But the directors extended their options to 22.10.22 at .5, .75 and 1p. Now with a liquidity event Q1, why do you think they did that, rather than let lapse??
Looks like 3 bagger from here
More like a 10 bagger.
I'll go ten and raise you fifty. So that's a 60 bagger LOL.
what liquidity event??
He meant illiquidity event.
RNST, you do spout some ****** sometimes don´t you.
I simply asked the question - what liquidity event?
Perhaps you could answer?
I wonder if a proppant squeeze will be applied at West Newton?
Why should I as you seem to regard yourself as the font of all knowledge ?
Hi RonnieB. You asked about doing a proppant squeeze at WN, presumably because similar work seems to have been very successful at Wressle. IMO a squeeze might not work at WN because the reservoir is very different to Wresssle, even allowing for any reservoir damage caused by over-acidisation, etc. For example, Wressle is a sandstone reservoir with some very good intervals within it. These flowed oil at potentially commercial rates at an early stage during the initial production testing some years ago. At WN we may have a complex carbonate (dolomite and / or limestone) reservoir, much of which may be "tight", or not very good at allowing oil or gas to flow. Also, it seem to me that we don't yet have any decent flow rates to enhance. To be honest, I'm not yet convinced about the reservoir quality at WN, in spite of the early enthusiastic comments by S&S. This is only an opinion, of course, but a ten fold increase in WN production, based on what we've seen so far, wouldn't amount to very much. Or, to put it simply, 10 x next to nothing is still very little. We would need to get production rates of at least 1 million cubic feet of gas per day for this to have a chance of commercial success, and I'm not sur if thy can make this happen in the sshort term, now that all the kit has been taken away
I agree with what G.P has just posted, apart from the ten x nothing is still very little. In fact ten x nothing is nothing.
Given the dynamic duo's record to get us where we are today and their transformational news on Colter, Parta and now West Newton we must expect Victory to also be transformational.
As I have said Victory will become the pre-eminent for play now, and expect West Newton will be quietly retired to become just background noise. I do not expect any appeal against the recent decision of East Riding County council. The odds are stacked against Commercialisation. They (Stephen and Sachin) have become gamblers just like Deemule and cloves, and I would not be surprised to see another transformation asset as yet unknown to share holders unveiled shortly.
GP
Good points. When RBD say ‘gas and liquids recovered to surface’ I expect it could be either reverse circulated to the production tubing or, more likely, recovered to the surface via a wireline formation tester (a few cu.cm.) at reservoir pressure and temperature for PVT analysis. PVT samples are collected in a pressurised container at the reservoir level and analysed to determine how fluid phases in the well are ‘liberated’ as pressure and temperature decline.
The reservoir engineering aspects of fractures are highly dependent on bed thickness. As a rule, thin beds have lots of closely spaced small fractures, whereas thick beds - like the Kirkham Abbey - have fewer, widely spaced large fractures. The maths of fluid flow in fractures reveals effective permeability is a function of the cube of bed sickness i.e. double the bed thickness and you get eight times the permeability. This suggests that finding the big natural fracture zones by horizontal drilling in a tight carbonate is fundamental to establishing commercial flow rates.
What was the point in applying for additional 6 wells; if 2 already drilled don't flow another 6 will probably not flow either. I assume the next prudent approach is to stimulate the 2 already drilled wells before drilling another. Anyway will be interesting to see what news comes out over the next couple of weeks on plans going forward.
RonnieB, the decision to apply for the additional wells was made well before the results were known of the undertaken drills of B1-z and A2. If they hade proved to be viable then the time to bring a potential sale into play would have been shortened by this forward planning.
Of course we are probably looking at the opposite now that the preliminary results are out, and the timing window will be pushed out to the maximum before a decision is made on appealing, thereby hoping for Victory to live up to its name!
RonnieB, to me it seems that the 2 wells so far have been irreversibly damaged so stimulation won´t work. Best to find the the best place for the B2 well & hope that Rathlin don´t screw things up again.
Exploration,
Many thanks for sharing your knowledge on these difficult carbonate structures. One can only hope they are consulting the competent 3rd Parties. Better still, why not employ a crew with experience of these horizontal specialised drills. I would be delighted to hear such news via RNS.
I have to say I was not enamoured nor surprised at the result when Rathlin announced they would approach the A2 test in the same method as B1.
Harry
"RNST is one of the passengers who never wants to arrive, but wants to make the journey for shareholders as unpleasant as possible." Cloves, in answer to your question about are we there yet...
I'm no longer a passenger, I got off when Eric and Ernie repeatedly promised transformational activity, only for it to be quietly forgotten and the next "big thing" was pushed forward as the new transformational opportunity, only to be quietly left behind and never mentioned again... a magical mystery tour for those of you still on the bus. The journey has indeed been unpleasant for some, perhaps you should talk to the drivers about that, clearly Eric and Ernie are not headed up the M1 at speed to a 5* hotel in the Lake District as they promised, seems you're actually on the B3212 on the way to Crapstone, Devon. and yes you're almost there! (quite appropriate, given the reservoir quality)
Hi persimmon. What I actually said was "Or, to put it simply, 10 x NEXT TO NOTHING is still very little". That's still opinion
Semantics
Derampers
Working on Sunday. Overtime. Keep it up boys
70% tree huggers
25% market abusers
5% actual shareholders
This is the distribution of posts on here. And 100% claim to be shareholders or ex-shareholders. Actual shareholders shouldn't bother with London South East anymore. It's SHlT!
I suppose Selfish it then begs the question
what are you doing on here?
Because I hate c**ts like you getting away with driving away shareholders, persimmon...... Not too complicated an answer for you I hope.
Cloves. I wouldn't really worry about a few people posting an alternative view on this board, or what you call "deramping", when Ant and Dec are doing such a good job for us. It's their actions and / or inactions that have caused most of the damage to the share price.