Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
I know most of us are waiting for WN news, but with gas prices now at 181p/therm, Victory is looking ever more attractive. Was pretty annoyed at the way the BoD dealt with increasing our stake there, but looks like they might have got very lucky.
"Victory is considered by Corallian to be a simple, low-risk gas development which has been fully appraised and requires no additional pre-development drilling. SLR Consulting estimates that Victory has 2C resources of 157 BCF and NPV10 valuations ranging from circa £85 million (based on a price forecasts of 42.5p/therm) to circa £146 million (based on historical average gas prices and base case valuation of 50p/therm)."
I reckon so deemule,
Not sure if he saw the irony, but thought this was a gem he posted a couple of weeks ago:
"Unabashed
Ignore the trolls."
Not for WC related to WN
Response to Market Speculation
Union Jack Oil plc (AIM: UJO), a UK focused onshore conventional hydrocarbon production, development and exploration company, notes recent market speculation and confirms that it is considering a potential equity fundraising to assist principally the funding of the proposed purchase of a further 25% interest in the Claymore Piper Complex Royalty Units as disclosed in the Interim Results released on Monday 13 September 2021, to upgrade certain producing assets to enhance cashflow and to progress the Company's other appraisal projects.
There is no certainty that the potential fundraising will proceed. A further announcement will be made in due course.
Canchat, thought you'd found the filter button on the 25th Aug as per your post below? Strange you've only just found it again.
"I have not posted over the years during which I have read this BB.
MAKE YOUR DAY; FILTER the rubbish posters and keep the ones that have something intelligent to contribute.
My BB is short, easy to read and I don't get angry.
CHAT"
LOL, you really are a special kind of stupid.
“Your Honour, the libellous & defamatory comments I made are just imo, that’s “in my opinion” you know”.
Flat, that’s the whole point of the law. To protect people from false allegations by people like you.
If ignorance was an acceptable legal defence, you’d be acquitted every time. Unfortunately for you, it’s not.
Anyone above the position of junior manager in any company would have had their ABC training.
https://www.gov.uk/government/publications/bribery-act-2010-guidance
Flat, suggest you try the "Quick start guide", might be beyond you though.
If you get past the first couple of pages & still feel confident in your libelous and defamatory allegations, you report Rathlin to the appropriate authorities.
Go get them Tiger!
OK Persi, I don't really disagree with much of your comment there. While the Victory hedge caused a short term issue for us as some of the C holders unloaded, it may prove to have been a wise move.
Not sure about the cult bit, but not unusual for people to become attached to an investment they have made, even if it is going through a rough time. Of course I would have been better off selling at a loss at 0.5, 0.37 etc., but I didn't.
I expect you are correct insofar as most junior oilers will struggle to ever make a profit. I think RBD stand a good chance, hence I stay invested.
No, not really.
Just pointing out that your "statements" and "facts" are nearly always designed to misrepresent or mislead.
It's a shame because you obviously invest a lot of time here and could contribute in a positive way.
"I wasn't meaning it to be a direct comparison"
"The same as me saying "
So not the same then?
"Any gas from West Newton (if commerciality is proven) will be years away. That is my heavily biased opinion."
Fixed it for you.
Not really a fair analogy though is it Persi.
Chance of winning the Euromillions 1 in 139,838,160
Chance of extracting oil from WN, pretty good
Chance of extracting gas from WN, even better
Thanks for the responses chaps.
Looks like B is the most popular choice, bit of A & bit of C, D should also have been an option, so thanks fyoz.
Hopefully not much longer until some WNA on Victory (good!) news........
Like most, I'll log on quite frequently to see if there is any news or progress, and it's pretty concerning to see just where we the share price is sitting, especially when you look at the historical share price and the current price of oil/gas. There are probably many reasons, but what do people think is the underlying cause? If non of the below, then what?
A. There really is no recoverable gas/oil at WN, Parta is a busted flush and Cali not great, wait for a few months & Victory will see us bump up a bit, recoup some losses and then its time to move on
B. There is recoverable gas/oil at WN but the mistakes to date and lack of clarity from the BoD mean people have lost confidence and will only buy in when there is concrete evidence of recoverability on a commercial scale. Everything else is irrelevant
C. We are subject to a concerted manipulation exercise that means people on the know will make vast profits once the inevitable good news is released and the share price leaps by multiples
"I would imagine with production costs etc thats running at a loss!!"
I thought the production costs were $18/barrel, so likely running a reasonable profit.
More news on Cali would be welcome though.
Exploration, did you listen to the BBC Humber interview with the author of that report? Her argument was pretty much non-existent, 4 minutes of waffle & something about lorries. Expect the report is pretty much the same.
A shoe you say.........luxury!
Fair enough NVG, thanks for taking the time to respond, guess we all have different conclusions about the games being played here. Much like you, I don't like being wrong, so I just hope the next few weeks gives us some very positive news & we can move quickly to a better place.
Thanks, Deemule I just don't see any reasonable option but to grin & bear it given the real and considerable upside potential.
Guess we'll know a lot more in the next few weeks, although been telling myself that for the past 18 months :-(
Cheers Both
NVG, always thought you were pretty reasonable and measured although strident in your views.
"agree, let's just leave it all to the paid rampers so that we can all get taken in with the BS and keep hemorrhaging our cash"
I presume we are contractually committed to the next phase of testing now, so pulling the plug isn't an option. Like many I am well under water, so really not happy with the current sp or BoD performance.
Having said that, the two interviews put out over the past couple of days have been pretty measured, informative and not tried to sugar the medicine too much. Also, as I stated earlier, S&S will not be making the technical calls, that will be Rathlin.
Given our current situation, what would you realistically want to happen at this point? we could be 6 weeks away from excellent news. If that fails, then de-risking with Victory looks like a very sensible hedge. Not sure there are many/any other alternatives than to see this through to the bitter end.
cloves:
"I reported that post Heid. Never reported one before, but it seems LSE like this type of vitriol on their bulletin boards. Nor really what they're designed for, I wouldn't have thought. Just an opportunity for bullies to bully without risking a punch in the mouth."
Did the same myself earlier today for the first time ever. Just getting way too unpleasant here.