RE: Shorters out in force13 Oct 2021 11:58
This is reasoned ????
"Ye Gods, that was a really disappointing RNS. The WN gas in place is down by 76% and "liquids" (we still don't know if they are light oil or condensate, but it looks like condensate from the reported API gravities) are down by 22%. Overall, the total hydrocarbons in place, measured in barrels of oil equivalent, are down by 39% from 199.65 to 121.98 million boe. IMO that's two rather expensive and inconclusive EWTs since we still don't know if Rathlin can extract anything in commercial amounts or, if they can make it flow at decent rates, how much of it we might recover. I've pretty well given up on the liquids, I'm afraid, but they still haven't reported a measurable gas flow rate, which is very worrying. And I see that a new prospect has emerged at Withernsea. I wonder if it's an old one re-named or, if not, what and where is it? And (nearly finally, you'll be glad to hear) did their resident expert read the RNS carefully beforehand? I've never seen reservoir development (the thickness) measured in "MD" terms. So I'm now wondering if this licence will be quietly dropped and we will "move on" to Victory next! "