That Paul Roberts blog at ujoukus ,com, very positive. Todays write-up goes to show how well David has actually steered the company to profitability compared to UKOG, EOG, ANGS and no doubt a few more. Worth a read.
Well, all credit to you for spelling diarrhoea correctly, I would have to have Googled that.
Thinks it's verbal not variable Gwynwin
Here it is cor you Grey Panther
The NSTA’s December production info has just been published. I’d expected that in November Wressle would have shown some flush production after the two month hiatus for the installation of the electrical submersible pump. However, the NSTA data shows that in December Wressle produced an average 439 barrels of oil, 181,000 cubic ft. of gas and 109 barrels of water per day. From this one can calculate that the water cut was 19.9% and the gas oil ratio was 412 cu. feet per barrel. For comparison, the figures for November were 458 barrels of oil, 182,500 cubic ft. of gas, 107 barrels of water per day, with a water cut of 18.9% and a GOR of 398 cu. feet per bbl. So both the water cut and GOR have only risen very slightly over the month. IMO this is very encouraging as Wytch Farm is still producing a significant amount of oil (9,000 bopd in December) with a water cut of around 96%.
As I think sentiment is returning. Heid is seeing some positivity which is a miracle in itself, although not sure it, like the silence, will last lol. Stephens presentation confirmed West Newton and I do believe him and David have obviously agreed on this for it to be stared with so much solidity.
That Stephen Williams has confirmed Reabold will fund Rathlin if necessary to ensure the drilling will go ahead at West Newton. I guess Mrswamp will be mobilising his team ready for their effort to delay the trucks carrying all the drilling gear to site lol x
Heid, do you nit agree we have had the luxury of lots of news this year already and still in the first quarter. We can expect news on West Newton, Wressle, the US well, the royalties and any unexpected events too. X
Heid, things change dear. Plans can't always be met. The fact David has stated in am RNS, not an email, that certain projects will get developed this year would be more likely than a personal message, don't you think? X
Hello Hydras, have you missed the comments on drilling the Peni3tone Flags this year? How do you know the Wressle well is going downhill fast too? Seriously, some people on here know it all and know nothing. X
Gosh, you are very clever by the sounds of things and know your stuff Grey Panther. Very interesting response to the NSTA and production comments earlier. X
How would you know no dividends or buybacks planned Heid? I thought I heard that both were still part of the ongoing plans for Union Jack? Are you inside or just assuming? X
'or through further investment from Reabold, which, following the receipt of the proceeds from Shell, the Company could potentially provide' suggests to me that they will if necessary, which suggests they can if necessary. Its quite cleat to me they will wait until the last minute to see if Rathlin succeed in raising their share then cough up if not. So, again, the funding is there.
Heid, Reabold conformed IN AN RNS that they would fund Rathlins share if needed.. so yes, it IS financed and it WAS rnsd. X
IS good to go in my opinion. The finance is sorted whether Rathlin get a farm in or not. David Bramhill seems a decent guy to me and I would rather take a chance on him than believe you Heid to be honest. I have to say I have never read so much bitterness and changing views from one person in my life lol x
I knew you wouldn't be able to handle being nice for long Heid. X
I don't want to argue Heid, debate yes, but in a reasonable fashion. Regardless of the past, the company do seem to be trying their best to bring value here for shareholders. West Newton and The Peni5tone Flags look good to go and we will be spudding that well in the US soon too. Give them a chance is my view. X
It seems to me as the December 19th RNS stated quite clearly "since 14 December 2023Prior to EA approval, production was constrained to delivering an average of 550 barrels of oil per day ("bopd")From 14 December 2023, the surface pump rate has been incrementally increased, resulting in a material uplift in oil production rates, with a gross average rate of 670 bopd since then, and 674 bopd recorded on 17 December 2023, over a 24 hour periodJet pump is capable of handling up to 1,440 barrels of fluid per dayNotwithstanding the increasing oil production trend, production rates will be carefully monitored, whilst the flow rate is gradually increased over the coming weeks to determine the optimum oil flow rate as the well stabilisesSite upgrades are ongoingUpdated Wressle Competent Person's Report ("CPR") will be published during January 2024" so it does look a lot higher than the recorded data by the NSTA was compiled earlier, or, it was an average based on the lower rates when the pump was under test conditions perhaps? X
Itsawrap, surely the data is compiled up to a certain date and production increased in between them recording it and the company releasing their own numbers? X
The way people come on here just to he negative for the sake of being negative. I see the same people on some other bbs doing either the same or trying to make their own investments sound good when they are actually dropping. Now the company's are lying lol x
Itsawrap, are you suggesting three jv partners lied to their brokers and nomads? X