Rathlin (Reabold 59%) have updated on PEDL 183 (Rathlin 66.67%) which contains the West Newton A-1 discovery well and the A-2 appraisal well. It is an internal assessment only with an updated CPR being commissioned. The base case is now of liquids 146.4 mmbbl OIIP with an upside of 283 mmbbl and gas of 211.5 bcf GIIP and upside of 265.9 bcf.
This is a substantial increase on the 2017 CPR as one might expect, particularly so as the volumes are now so significantly weighted towards oil rather than the preponderance of gas that was initially expected. The shares, in my view rather surprisingly, both fell this morning but that might be more to do with recent or imminent fund raising than to what I consider to be a massively discount of this spectacularly impressive asset which so far hasn’t delivered the inevitable, that is only a matter of time.
I find it difficult to set a price at which to top slice as WN is at this time an unknown quantity . 50 mil 100, 200, 300mil barrels, maybe more so events and the market will dictate when I top slice. I definitely will not be telling market makers that I will slice at 1p . As a mm would I take it to 1p and play some games, yep.
At this time it would SEEM that BMR will re-list with a new Company name, they will have a Consolidation , additional shares will be issued for an acquisition and additional Funds will more than likely be raised by BMR passing up a significant chunk if not all of there remaining Kabwe Royalties
I have the voting Forms but not the Circular and whilst I get the gist of it, not having the Circular leaves me in an unfair position as I do not have full information enabling me to vote. I checked the BMR Website the other day and the Circular is not there either
Updates on Phase three Trials due soon30 Jul 2019 17:01
Thank you Teaboy, GLA but as always people should Do own research. I see no response justifying the Headline "Production License imminent" and until proof is given by Chinesewhispers I would not pay much heed to this unfounded claim
RE: Licence For Production Imminent30 Jul 2019 14:11
When did Phase three Trials get completed in Russia , I thought they had not started yet but people have been recruited for them . I have not seen any CDP for EU or US yet. So where does it state license for Production is imminent . ???
RE: Council drops case re Wressle29 Jul 2019 22:09
"subject to agreement of acceptable planning conditions" Not really sure about this. I thought all of NLC concerned only had one objection IE "It is dangerous" which if you translate this it really means there are no objections but we choose not to suffer the wrath of the NIMBYS