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Hi mixster. Thanks v. much for those interesting maps you posted on Twitter. I'll try to share mine later on if I can only work out how to do it. ATB, GP
Hey GreyPanther.. Always happy to share what research I have.. Only been here 8 years lmao ;-)
Yes what we are interested in, is tapping into. The Anglo Dutch basin in particular the southern north sea gas basin.
That's what has been feeding O&G companies in Europe so as our Pel extends that direction to the coast then that's the line to follow.
Here's a map in my tweet.
https://twitter.com/MightyBelle68/status/1280510317630554121?s=19
There's plenty of research done on this basin and heavy reading into the structures which ain't for me.
Needless to say, given the size of our PEL stretching to the coast, and the number of successful discoveries in that basin, we'd be extremely unlucky not to nail West Newton B, but that's the risks we take with exploration.
The flip side is if we nail it, you seriously think is worth just a few pence. Who knows ;-)
ATB mixster
Hi Mixster. Thanks for your helpful posting. Your information about three rather than just two potential reservoir targets at WN (the Brotherton, Kirkham Abbey and Cadeby formations) was very interesting as I hadn't heard about the Brotherton before. I've tried to find out a bit more since. Apparently Brotherton is the latest name for the much better known Upper Magnesian Limestone, and it's present over much of East and NE England. The Cadeby is a new name for the Lower Magnesian Limestone and it's also fairly widespread. I don't know what the Kirkham Abbey, where the oil and gas are located, was previously called, but it sits in between the two other limestones. From some geology maps published in the 1980’s I was able to discover that the KA formation is well developed in the area around, and to the north and south of WN. What puzzles me, though, is that the Cadeby is much thicker to the west, and the Brotherton is much thicker to the east, apparently under the Southern North Sea. The Rathlin people presumably know what they are doing but, if the old maps are right, they could get a bit of a surprise. Only time will tell if the WN B-1 well is located in a good place to find oil in the Cadeby reef, if that’s what it really is, but I sincerely hope the KA formation will be good as it was in the A-1 and A-2 wells. So, roll on B-1 spud, I say!
Spike and Heid.. yes that's my interpretation. In terms of not getting too technical, I've put this together to show some insights on drilling WN B2 which I had to look at, as Lee B raised some good questions on it with me.
Just to note... its the Gas that makes this highly valuable and the volumetric on WN A2 blew that out of the water... so we are on to a great thing. Oil as another poster pointed out is a bonus so lets not get hung up on finding oil. I'm happy to find a **** load of gas ;-)
In 2013 Rathlin Energy drilled the West Newton 1 well to a total depth of 3.150m into the Dinartian Carbonate section of the Carboniferous. West Newton B1 well, Rathlin Energy recognizes up to three potential reservoir target horizons. These Include the Permian age Brotherton, Kirkham Abbey and Cadeby formation.
These formations will be encountered at depths ranging between 1.500 2.000m The wells estimated to be at a depth will be approximately 2.100 metres. The West Newton B1 well will not drill to or test any deeper formations such as the Bowland shale would be found at a depth of over 2900m. West Newton B1 is designed to further appraise the Kirkham Abbey and in particular the Deeper Cadeby where oil is though to be at its optimal. I have tweeted diagrams on how WN A2 only touched the flanks of the Cadeby so you can see the interest in test the Deeper part.
Drilling expected to take between 6 and 12 weeks and will run 24 X 7
The second borehole WN B2, may be required to investigate and test the extents of any potential petroleum reservoir encountered during the drilling and testing of the first borehole. The second bore hole may also be required to investigate and test a formation that, through interpretation, was predicted but not encountered during the drilling of the first bore hole.
The second of the two exploratory boreholes will be drilled and constructed in a similar way to the first. The exact design and construction will be determined using information obtained during the initial drilling operation.
So in Summary.. WN B1 drill to 2100. Analysis of the results, in conjunction with the WN A2 data, may lead Rathlin to decide on whether or not to drill WN B2, if they feel its required as part of the exploration drills. Also note that they may stand down the equipment and drilling of WN B2 if they are to complete an EWT which can last up to 3 months I believe for oil and up to 14 days for Gas. All depends on what they find.
ATB - and as always DYOR - Mix
PS.. great to hear from you Budge
Spike , spot on.
From 20th Feb RNS:
"West Newton B1, designed to further appraise the Kirkham Abbey formation, and to test the deeper Cadeby formation at its optimum location, particularly given the encouraging results retrieved from West Newton A-1 and A-2 wells."
West Newton B is to further appraise the Kirkham Abbey and better delineate the field and has also been position to explore the Cadeby, which only had hydrocarbon shows at WN-A but (presumably) no reservoir development.
Looking good. A close above .205 would the highest finish since 12th June.
Just for this one I prefer targeting a company value rather than sp. Wont be buying any more... far too many... but feel every not-sell is a buy!
There was a big sell off when it hit the
. 30's before and then we had the long wait and the placing debacle.
People will always look to take profits on the way up, despite many always claiming to be here for the big prize.
I've often seen those quoting the big SP targets being the ones who were trading on the quiet whilst telling everyone to hold and buy more
Set your own target and don’t be influenced by what is posted here, either way, good luck to all genuine investors in ujo, things must surely be starting to pickup soon.
Hello Heid. I agree that the A-2 EWT can't possibly affect Rathlin's programme for the B-2 well since the latter must have already been planned in great detail. But I don't share your view that the B-1 well has been planned primarily to appraise the Cadeby formation, if that's what your post below is saying. It will almost certainly evaluate the Cadeby if the well is drllled deep enough, but it's not the primary objective. This is only my view, but I think B-2 is planned to be a further appraisal well for the KIrkham Abbey discovery. Oil in the Cadeby would be a huge bonus, but all we've seen from the cadeby up to now (as far as I can recall) is a core with oil shows, but no logged oil column so far. Do you have any further info? Thanks, GP
I am back in yet again, hopefully I'll top up this time. I miss the site photos to be honest.
Thanks as always good reasoned post
atb
Why would they use the EWT to inform the well up the road that has already been planned ?
The EWT has been planned meticulously because of the discovery of the Oil column.
The West Newton B has been planned to appraise the deep formation of the Cadeby Reef.
'Clown Pete' is no mate of mixsters and is blocked from my twitter too.
I have no time for interacting with that idiot whilst Union Jack Oil is going about their lawful business.
I don't give a feck which one starts first just get flipping started lol. Good to hear from you as always mix. Still hanging tight old buddy
Excellent post mixster.
Yes GBK.. that was me saying a few weeks ago that EWT was not delayed and it made sense to use the same crew and equipment. Less road closures, policing, costs etc and keeps the locals onside. Good move. Cellars put in first then prep for WN B1. Move that rig to WN A2 to support EWT and bring in the mother of all rigs to crack down to the Cadeby in WN B1. Jury is out on drilling WN B2 as I believe it will be a decision taken after analysis of WN B1. They may not need to do it.
3 to 4 months we will know everything we need to know about the PEL, including the seismic over Ellerby and Spring hills and a decent CPR that includes the new volumetric and EWT results plus actual s from the WN B1 Cadeby as we didn't get to test that in A2.
All exciting but it all comes down to proving extents at WN B.. how far and how deep.. does it go all the way to the coast on that Anglo Dutch Basis.. we'll soon know.
ATB Mixster - aka MightyBelle on twitter.
PS. yes I was the resident poster her for years until it went to sh*t but great to see some balanced and informative posts here. Some of the old crew still here to which is great
Well well well. Just catching up on some posts and though I'd drop in.
So for any new investors.. this might help.
Started with a market cap of £607,451 back in Dec 2012. Market Cap as of today is around $31 mil
Bisc started with 10% - now up to 30%
Wressle started with 8.33% - now up to 40% (largest partner holding) and a producer in Oct
West Newton 16% and no chance of getting more lol. Reabold want it all ;-)
We have other cracking little projects that, with some investment may yield exponential returns like Fiskerton, North Keslsey, Keddington etc and indeed we have some that we acquired as part of larger deals and will no doubt tidy that part of the portfolio up and drop them.
BISC in the beginning was always the company maker but it has taken a lot of time and effort to get here. Wressle on the other had was a strong calculated punt that came off big time, flowing 710 boo equiv, up to 1000 and constrained to 500. The constraint was to get planning over the line otherwise you need twice the size of the site, twice the traffic , 10 times harder to get approval. West Newton took some time to come to fruition but again calculated near term prospect and it came off brilliant. As I outlined a long time ago, that PEL is massive and will require a major to develop it over 20 years with enough financing to do it, so our strategy is to prove it up, prove the extents in WN B and flip it to a major.
In terms of some key movements that I've seen particular on our 3 key assets above
BISCATHORPE
So back last week we got the BISC news and I have to say I'm delighted with DB keeping the % from Humbers slice but to be fair, it was an agreed and reasonable transaction with Humber, who are back at the table and in alignment with the partners. They key here is that there is no blockers now for BISC. All on board. Partners just need to decide the direction of that side track and nail it. Initially some thought it was a duster but GB wont let it go and got the samples retested and here we are sitting on something that could be as big if not bigger than West Newton. For the record, I invested for Bisc.
WRESSLE. I assuming we will see equipment landing in the next few weeks to make the OCT/NOV production. This will be the bread and butter and was to make us slightly profitable but with the increase in % it makes us financially secure. PennyStone Flags need an FDP and indeed I would hope early next year to see applications for more wells. With Fracking taking a beating, Egdon, as operator, will be keen to move this forward so full steam ahead.
West Newton. As mentioned on twiiter a few weeks ago, there is no delay in EWT. Economies of scale tell you that they will mobilize once and move kit between sites, with only 2.5 km distance between them. My guess is they start the two cellars in WN B and drill and case to around 80m with a smaller rig. Then move that rig to WN A2 to support the EWT while a bigger Rig comes in to continue drilling