Member Info for CRB14

Still trying to digest the news - but just announced this morning

A great summary, and exactly what I took away from it. The future here is very very promising and the GLA acquisition looks to be a bit of a stroke of genius. Why not capitalise on today's oil prices with a producing asset which will pay for itself in a year.

2400 bbl I believe - but you know what the internet is like with its doom and gloom.

Yes indeed. We have basically doubled our production rates as of 1st January.

Dutch Gas Futures are up around 13% today

Vlieland was flow tested for 5 days, but unsure at what stage we're at right now. The gas flare (see twitter) is very positive though.

Nothing suggesting a fund raise right now. We're dealing with a guy that bought Marathon with their own cash when he ran RRE.

Current production is around 12,700boepd nett to Kistos. Production costs are remarkably low and the cash build is insane.

I think that's it on the drilling front, but there's finalisation of Windpart Ferrum and, at some point, I would think there will be another decently sized acquisition. It's already been confirmed that we are negotiating.

More importantly, the production is nor 12,700 boepd in line with expectations.

Up 13% as i write

2021 numbers were based on £73 per ton. It's now over $225 per ton, and still (pretty much) within guidance,

As well as those:

Acquisitions - looking for low carbon assets similar sizes to what we already have within North Sea / Europe with production + appraisal / development. Currently involved in 3 negotiations. Very focussed on the carbon aspect of the assets.

IMO we will see a reasonably sized acquisition this side of Christmas.

Ah wind power. The saviour of the national grid, just as long as it's windy - but not too windy.

Even Drax has been getting some stick recently with reports it's more polluting than some coal plants.

Yes we're just under 3 months into a 4 month drilling campaign - see RNS from 20th July 2021. So far we have had one positive update so further updates are due. The last update was around 5 weeks ago.

There's an article in the FT saying that chinese coal futures have reached record highs again too due to floods

India has similar problems with only 4 days of coal supplies left in power stations.

https://timesofindia.indiatimes.com/business/india-business/india-says-coal-crisis-could-drag-on-as-long-as-6-months/articleshow/86779086.cms

Now over EUR 100 for Nov '21. Hopefully we should see some decent share price movement.

The last time I ran the rough numbers at approx $200/t, the margin was over $4m per day - and that considered a 26% discount on sales. This is giant cash cow.

Over $3m per day margin by my reckoning - based on 16mt for 2021