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There isn’t gong to be an EWT at WNa
Nothing to prove there
Got all the info they need
Reobold and ujo aren’t intrested in production
Ujo will never go the ukog route takes to much time and patience
Money raised was for regulatory approval proof of funds in place to prepare WNb
No point wasting money on anything not needed they have to go to WNb to prove up the field any way so one EWT spent on WNb if even required is better than throwing money at wna
Hope people understand what I am getting at
Viva ujo for ginger
Some of the money will also be called on from Egdon as part of cost to go into production etc at wressle
Gla
Not ujo producing
They wouldn’t have a clue
Stick to Geology
Find the nuggets
Hi
What would the outcome be. asset/company sale? any guestimates on the SP when sold
CO
My guess Chris - on sale of West Newton licence area the company will receive £180m, and from this will pay at least 0.5p per share to the shareholders as a dividend. Not a popular view on this bb at the moment, but in my view a realistic one.
Thanks for that Rudey, its just that someone mentioned we will not be producing, so I assumed it would be an asset or company sale,
Many thanks
Chris
My estimate was
.17 now we are at .15 how long do we hold and see this drift? Or sell and buy back at lower sp ? I've worked to hard to see my investments crash again any ideas?
In my opinion just wait Tymers. Ignore the price fluctuations and look back in in a few months. Unless you're a day or swing trader, in which case it's anybody's guess.
Ginger, I agree with assessment regarding Coil - not sure about BMD - is he that big a holder?
For sure I believe Coil & Frazer Lang sold hundreds of millions of shares when the volumetrics RNS was released which stuffed the expected rise. I don't know if Coil bought back. I hope not. Everybody hopes not, including the company. But Coil and any associates (if he has any) aren't the only traders of these shares. There are hundreds trading UJO shares, including most posters on here. Surely it's to be expected, and while there are people looking to trade the inevitable result is the share price is driven down.
At the end of the day UJO's share of the West Newton licence will be bought by a big player, and when that happens UJO shares will be golden tickets. What happens between is likely to be irrelevant in my opinion.
By the way. If you are so critical of BMD, why do you use one of his catchphrases in every post?
Posted this in September, was not very popular...Chris oil is a major worry for me as a ujo holder...when he dumps it will be curtians imo if past history means anything...this is a post about one of his previous pumps...Mr Williams(Chris Oil)was accused in May of encouraging investors on Twitter to buy the shares, a matter of minutes before selling his entire holding One AIM punter, who asked to remain anonymous, suggested that the double-act of Messrs Levi (BMD) and Williams has “a lot to prove, reputations to restore and action to take to restore investors’ faith in their integrity”. every one deserves a second chance but dont have blind faith...imo
Well if people didn't know before, Ninetails, I believe they are either newbies or slow learners. Significant shareholders buying big chunks of shares, then releasing them onto the market as soon as good news is released, are not what a company needs.
ESPECIALLY if they are saying 'buy, buy, buy'.
Jazuz that was tough reading.. again no research, pure deramp by numpties.
Few comments. PdmsPiper claiming there is no EWT on WNA-2 as there is no application on the EA website. Well that's some ****ing statement lmao.
There is no variation application on the EA site as we still have a green light for EWT ON WEST NEWTON A2. We don't need one but read the variation last granted. There is an abundance of reporting and planning to get submitted to stay compliant. I posted a schedule on twitter. You just can't rock up and perform tests with equipment without stepping the EA through it. We call this planning in the real world.
Secondly they hit a **** load of oil in West Newton A2. How much have they hit in West Newton B. Ah yes we don't know yet but have the deeper Cadeby in mind. So why would anyone in there right head decide to test oil in West Newton B when they found oil in West Newton A2 not to mention a ****e load of gas.
So imho, EWT is still on the program for West Newton A2. Hopefully it will be good and lead to a substantial change to the CPR across the PEL.
So sit back, let them operate and wait on an update. I'm guessing EWT should start to mobilise in Jan.. Few weeks away.. Meantime I'll be watching out for Wressle news. Getting close.
As always DYOR Right!!! Mix
Link to last EA Variation for West Newton. Go on.. Have a read.
https://consult.environment-agency.gov.uk/psc/hu11-5da-rathlin-energy-uk-limited/
Mix, I don't know if it is worth the effort. It will make no difference really, just as I hope David Bramhill doesn't read the crap on here. I would think it would be devastating reading after everything he has done for the shareholders.
BWM, I saw he had a share certificate on twitter for £100k worth recently, but I couldn't see the date. To be honest it's the shareholders with hundreds of millions who can really hurt the share price, and there aren't many of them left imo.
BWM not only can you see the certificate on his twitter page, but he also knows how to f' up a nice bit of brick noggin.
Ginger, please stop using Viva. It will remind SER shareholders how many of them were screwed a few years ago by a BoD who were GENUINELY unscrupulous, UNLIKE our BoD.
And Joshua will win within 2 rounds.
You are clearly morbidly pessimistic, Ginger. You need to turn that frown upside down : )
You are clearly morbidly pessimistic, Ginger. You need to turn that frown upside down : )
Q. Definition of a pessimist?
A. An experienced optimist.
Mixter you daft Numpty, why do you think they are suddenly drilling 2 holes from WNB? Now WNB-1 & WNB-2.
The plan was always for a second well at WNA to target the Kirkham Abbey Gas play 72%CoS and the deeper possibility of an oil play 24%CoS. They found the oil and it was a 45M column with the expected gas cap. They unexpectedly perfed into oil but couldn’t get it to flow. EWT abandoned.
They put out an RNS saying the EWT was being redesigned. It has now been redesigned, hence the addition of the WNB-1 sidetrack drill into the oilplay. They’ll flow it from there. This is a new drill, not previously planned. It’s purely to test the Kirkham oil play and get it to flow. Junior oilers don’t drill holes they don’t need!!
As for your clap trap on twitter that there was oil
Burning from the flare with “Black Smoke”. That is impossible. It was a gas flare. Physically incapable of burning oil or accepting any discharge of liquid. I’ve seen photos of it. It is of the forced induction type with a fan at the base of the flare stack. The fan is a direct draft forced induction fan. It induces a vacuum in the discharge line from the wellbore and sucks out any dangerous or noxious gases to prevent an accumulation. It is PHYSICALLY IMPOSSIBLE to put liquids through that fan. It is not a pump! It is a fan! For gas. Liquids would destroy it. I’m an oil and gas piping and equipment engineer with 30years+ in the game. No oil flowed from that well. Currently IMO there is only about a 30% chance that the EWT will be resumed from WNA-2. I put it at 70/30 that the Kirkham Abbey oil will now be tested from the new sidetrack into it. A new drill, obviously planned specifically for that purpose. Nothings 100% but we’ll soon see. GLA. Even you gum flapping twitter numpties who in reality, know absolutely nothing about this industry.
To sum up: They thought that the oil play was so unlikely at 24% that there was very little equipment there to flow it. There was an emergency back up tank for liquids and oily water separators in case they were needed but not the equipment for a substantial oil discovery and no glaring capability for oil.
WNA-2 was always a targeted gas play. WNB was always a targeted oil play into the deeper Cadeby but only one drill at WNB.
Now we have another drill at WNB. The original drill into the deeper Cadeby oil play is now called WNB-2. The new drill is WNB-1, a sidetrack into the newly discovered Kirkham Abbey 45M oil column. Why? To flow test it and get it to produce commercially from a more optimal location. All IMO. The KA oil could still be tested from WNA-2 but I can’t see it. Not after the addition of a new drill, specifically engineered as an oil well, whereas WNA-2 is a gas well that you lot think is going to be re-perfed and re configured as an oil well. That’s a much more risky approach in my opinion and with this new well now funded, it just doesn’t add up. Only my opinion.
Morning PDMSpiper
Could you simplify your thoughts for me? On what you think the positive and negative are. I’m not an oil and gas man but keen to learn.
Thank you.
PDMSPiper
Well said
i totally agree with you on that.
WN B1 would be the best location to do a well test which they will be planning on doing anyway.
They have enough info from WN A2 to tie in with our next well test to give a bigger /accurate picture of what we have down there in total.
So Q2 for WN B1 drill followed by 6 weeks EWT . imo