Member Info for feelinlucky

neither EOG nor EDR have enough funds to develop Biscathorpe, that's quite offputting to a JV partner....if anyone grabs more of it, it may be UJO.. but then they'd need rid of undercapitalised smaller JV partners and a farm out partner/ flip it to a buyer.....it's more capital intensive to develop gas than oil so RBD would only go for it if they were aware of a buyer IMO

£4m MCAP and has just ditched an unworkable Dorset asset.....EOG £6m MCAP and still has some 'awkward' assets and still waiting news re Wressle.......BOIL interest in Victory could increase us to a meaningful 30.6% holding and likely to get 'carried' farm-out/ medium term buy-out

Saltfleetby - perhaps not their style to be drawn in to potentially capital intensive things, more about bagging some value in things they can get out of again, preferably at a stage when the project is new with a lot of value attached....ok agree EOG likely but still think BOIL on their radar

some of RBD's cash/shares might be well spent acquiring some Saltfleetby? must be nearing production having spent an absolute shedload on infrastructure, ANGS's MCAP £10m

coming round to your thinking (buy distressed company's asset while cheap, as long as it flows ok) but more likely buy it out using contingecy cash / very small raise / make use of a loan facility...(not by giving them WN!) .....or for some of Romania!?

..but interesting idea 'raised'.?....(misread Weald Oilers tweet)...... still wonder if you know who could try it ;-)

after DB promised 'no raise' and then raised previously, I moved to RBD....so when I saw his recent interview saying 'no raise' due I was waiting to see what would happen over the next week or so given his past track-record..... and he's just snuck more shares out there to 'pay for equipment'!!!!!!

...not swearword! I promise!!!!! :-)

I don't think RBD have a complete aversion to direct holding. it's operatorship that they generally avoid, which is why they bought an increased stake via a separate deal which did not involve increasing their stake in Rathlin. I also think they'd prefer to hold interests in WN to Wressle, however their composite 59% interest in WN is more tradeable for an interest in a large prospect that's farmed out already and soon to drill for eg. the DELT offer or similar type ************** deal

see Ray Stevens 'Taylor Swift is Stalking Me'............who'd have thunk it! :-)

over Ellerby / Spring Hill but which one is next is currently subject to JV partners spending capacity... unless can secure farm-in but the next one will be to attract the farm-inee... a bit chicken and egg!....will probably be the smallest...let's hope West Newton flow test and CPR are such a humdinger that farm-in happens

that 'scale' is what attracts farm-ins and buyers and it's now about EWT proving that's what we have

the 'difficulty obtaining kit and personnel to work onshore uk'? are we waiting for UJO to finish well test before we can? they implied all permissions are in place, but aren't they still awaiting permission for EWT from council?

...anyone know anything about this prospect?

and look forward to the new company Harbour Energy's imminent arrival as a large independent player in (and around?) North Sea and consider it a likely buyer for the West Newton prospect, an onshore contiuation of the Zechstein play. There is a Q&A session on RBD tomorrow if anyone's interested

if any DELT people want to ask any questions/ see what's going on

Hydrocarbons especially natural gas are needed to create fertilisers for agriculture, something they plan to do with Tanzania's gas.....imagine - an overpopulated world unable to grow crops to feed itsself! (also especially if the vegan 'let's not have any farting cows agenda' gets it's way)

will get payment for oil flowed during test phase which can be put toward funding Romania and if oil prices continue up some earnings from California could be diverted to fund Romania also as well as contingency money they set aside if not spent on WN

well sitting whilst being acidised, small possibility it might work but won't bet on it......would it be sidetrackable?they must by now know where in the geology good layers were found so in theory could do a horizontal sidetrack away from any formation damage?

Re. Romania well......did a bit of research on that recently, apparently the geology observed in the process of drilling the IMIC-1 well was really excellent, just a shame Covid interrupted the drilling and it sat too long and might not clean up successfully, but it in no way writes off the asset which is now effectively proven and will certainly get a new drill (I believe that's what RBD will answer to your question)