Member Info for archie2

Wytch Farm, 6 years from discovery to production ... quite quick really (by RBD stds)

Page 17

"Fast track plan to first gas in Q4 2024"

That's quite a wait !

is there no slope?

Whatever happened to the "Cadeby slope" that was mentioned in 2018 UJO presentation?

http://unionjackoil.com/wp-content/uploads/2018/10/UJ_RathlinOpportunityPres_Oct2018.pdf

Was shown in slide 9 to be to the right of the vertical dotted B1 well plan.

Slide 11 says ...
The Cadeby Reef and the Slope Deposit both have a geological Chance of Success of 26%
* The Cadeby “Slope Deposit” represents an additional Best Estimate of 43.7 MMboe of Prospective Resource
Source: Deloitte CPR dated 25 July 2017

Used to be talked about a while back but havn't heard it mentioned for ages.

All gone mighty quiet in Romania. last adx update over a month ago (14/9), well shut in to let gas pressure build up & for the reservoir to complete its residual cleaning. Was hoping for more than "below expectation" flow rates.

BP also mentioned on Andrew Scott Proactive interview (by DB)

Flip it … agree with you totally – they have a plan.

If it (WN / B1) turns out to be a very different kettle of fish to what they thought – then I think they might well change that plan.

UJOs (& RBDs) responsibilities are to their shareholders. If they hit the jackpot I think there will be more longer term thinking going on rather than short term sell out opportunism.

Anyhoo, just my thoughts … the fun bit is we’ll find out soon

ATB

yesterday proactive interview ...

https://www.proactiveinvestors.co.uk/companies/news/925761/union-jack-oil-expects-to-be-drilling-at-west-newton-within-weeks-925761.html

4:07 before going on to quickly change the subject, DB's body language definately seemed to be wanting to say something more about "other prospects" in the PEDL183 stable. My feeling is that a positive result in the B1 Cadeby (& DB seemed quite buliish) would lead on the consortia wanting to poke other parts of the patch. After all what's the rush to monetise? Both RBD and UJO will have income streams from other parts of their portfolio and the risk reward from doing further work (given a B1 result) would seem to point one way.

DB @ 1:57 If the presumed oil extends from A site to B site then ...

"it's back to the drawing board about how big it is and what we're going to do with it"

So, monetisation may be delayed (but in a good way)

What they don't mention is the 24% CoS

Total cash to S&S in: -
- 2018 was 626k and
- 2019 was 289k (each obviously)

Section #9 of a/cs ... Total bargain(?) - Nice work if you can get it.

PFS could be delayed much more than the end of the month the 30th Apl RNS said it would be "published as soon as practicable", but who knows, may surprise on the upside for once. Looks like you have to take the content of many RNS's these days with a pinch of salt.

For what it's worth the JAY has said the resource estimate updates for Interlak and offshore are still on for the end of May (if so, best guess 16:29 on the 31st ;-) )

Well according to "Chris Oil" on Financial Fox (see UTube video of 5 months back) it's a 10 - 20 bagger.

Mind you he does have a slight interest seeing as how he declared a 5% stake in teh compnany as of yesterday.

artyth ... v. v. confusing - prior to spudding / drill results - that's now (given late June Parta spud) n'est pas?

The greater the uncertainty the greater the discount rule of thumb.

Thought the issue price of extra Danube shares for RBD was goinng to be 80p as per 11th Dec release not £1 (20% more)

"In the event that ADX does not complete (or procure a third party to complete) the ADX Investment by 15 March 2019, ADX agrees to grant Reabold the right to subscribe to the shares at an issue price of GBP0.80 per Danube share."

Interesting that Curlew A (appraisal) is now "coming into view" on page 10 of the April 19 update

https://reabold.com/wp-content/uploads/2017/10/Reabold-Presentation-April.pdf

Contingent 2C of 45M bbls. Drilling in H2/19 subject to farm out (hopefully a bit more straightforward than Colter),

750k waste of money?

Rather depends on if they drill / what they find in Oulton or Curlew

Don't if it was a slip of the tongue but Malcy on the Vox podcast (after speakign to SW earlier) said that RBD had a 40% stake in Corallian (@ circa 49-54). Latest presentaiton (Feb) had this figure pegged @ 33%. If so then 750k buying an extra 7% of Corallian's licences seems pretty good to me.

c6p unrisked (as at 22nd Nov)

Of course without a significant up tick in the share price S&S are going to run out of juice to keep the deals coming in. Something like 4m in the bank now should do for another deal but after that ??? (without getting mega diluted). With their talent for getting good VFM just sitting on their existing portfolio till they come in, or otherwise, would be a shame (plus, as they say, the window for doing such things wont be around for ever).