Member Info for feelinlucky

couched in language and strategy normally associated with our boys....and they're spending more than their MCAP on a new venture but will it bring in enough cash quick enough for their current programme of expenditure?................................................and 'a second material transaction is at an advanced stage'....sounds intriguing!

favourite March finance joke...... 'Beware the guides of charts!' ;-)

just a massive cup and handle chart formation that's just touched handle support level second time and getting near three month long handle, breakout can't be far away now so hang in there!

...pummelled to death by pair trading with UJO, even though we are not involved with Wressle or their consolidation (apart from waiting for them to get on with it) back to sleep now zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz..............

....Outta My Open *ng?

on BPC bb (who think it's THEM).....that a 'shell JV with an AIM minnow with a 'world class asset' is about to be funded by a major' the company was not named, 'the major walked away from exclusivity but not from the JV' .....familiar? sweet dreams!!

Cotton Eyed Joe.............insert in relevant bit 'PUPPY EYED STEVE!' (going bananas with the waiting)

.......OIL! OIL! OIL! ;-))

Given that interim results are due end of June and EWT presumably to last 90 days, and they want a CPR by then ideally, they'd have to announce EWT sometime in early March. It would be intriguing if nothing happened in March as that could hint at a farm-out for WN on the cards (to include costs of EWT) ? a boring or exciting March / boring and exciting at same time?zzzzzzzzz*****!!!! who knows!!!!????????

anything to do with Harbour Energy which merges with PMO at end of March

hinted at interested in a bit more than just Coraliion? things getting interesting

Sorry should not have multiplied by 22.5 yrs if 180, 000 tanker movements for whole of 22.5years....assumed per year!
re-calculation as follows:

180,000 tanker movements /2 = 90,000 tankers of oil
x 190 barrels per tanker = 17,100,000 barrels / 22.5 years = 760.000 barrels pa
x $45 per barrel profit after extraction costs = $ 34,200,000 pa
(x 0.72 exchange rate)
= £ 24,624,000 earnings WN-A pa (or £554, 040,000 over full field life of WN-A) for oil alone
(gas not calculated here)...
and WN-B producing at same time from same reservoir, so double that figure for both WN-A and-B to @ £50m pa for oil alone (and more if WN-C and -D are produced from)
then there's other similar structures on the license area other than West Newton

180,000 tanker movements / 2 = 90,000 tankers oil
x 190 barrels per tanker
x22.5 (over 20-25 yrs, let'ssay 22.5 years av.)
= 769,500,000 barrels over field life (of WN-A)
x $45 per barrel (prod cost $14 to $19, average oil price $60, known very light oil acchieving a better price so let's say $45)
= $769,500,000 total prod value over field life
=£554,040,000 (x 0.72 exchange rate)

divided by 22.5 yrs = @£24,624,000 pa projected production earnings from WNA site
(caculated on tanker movements alone)

the WN field will also be producing from WN-B at the same time so double this production for the WN field to @£50m pa
(no idea what will be happening re WN-C and WN-D).....plus gas

to under 500 tonnes oil per day, our storage will be for 490 tonnes oil in the tanks, I believe that is what will be produced irrespective of flow rates acchieved on EWT....now convert 'tonnes oil' to barrels????????????..........

are counted to and from site so adjust figure for oil by half

need to deduct 'cost per barrel to produce'.....but we get the picture

face facts it's going to have to be a farm-out probably with Shell who are in the driver's seat and yes they are still interested in WOS...want to see whites of the eyes and brownness of trousers first.....imo

RBD said California wells had been worked-over and shut-in to build pressure to inprove flow rates...they didn't give exact details thinking it unnessary....so saying the flow rates are rubbish before the results of the workovers are known is jumping to conclusions

to get increased earnings from California through the system, some lag between rise in oil prices and when it shows up in the companies bank accounts but will be good when it does and could get things moving there

directors to pay themselves with options rather than the companies cash during development phase when building up to something....just needed more time not wanting them to expire obviously!