Member Info for GreyPanther

And a Very Happy New Year to you too Ra11adw2. I share your sentiments for

2024 but I hope you aren't hedging your bets when you say that 2024 "WILL be the year the company SHOULD be successful". Which will it be, I wonder?

Hi Vistaman. Am I right to think that the 1.347p you've received from HL is the US 2 cents divi, divided by the approx. £1 = $1.27 exchange rate, and then net of the 15% with-holding tax? Thanks, GP

Many thanks, VistaMan

I understand the withholding tax and other variable broker's charges that can be deducted from dividends paid in US$, thanks. My question was really about what dividend you've actually received in pence paid into your account. I assume that no one got the full 2 cents converted into UK pence. Cheers, GP

I'm still waiting for my dividend to be credited to my UK nominee shareholder account. I know the dividend was 2.0 US cents per share, but could someone please tell me what dividend they've received in pence. Thanks

Over recent years Heid has fallen out with UK Oil & Gas and now apparently with Union Jack and its board. I wonder how long will it take her to fall out of love with Kamran S and his cronies? She is about as fickle as ....... I'll leave you to fill in the dots.

Hi Moniman. Unlike Malcy, I don't think ISS are paid by the listed companies that he / they talk about. Happy Christmas!

The positive recommendation from ISS worries me a bit as I've been told that quite a few City institutions take notice of what they say. So presumably some will vote accordingly. I wouldd hate to see S&S stay in post because of the ISS recommendation. Does anyone know how influential ISS really are?

Will Holland's recent share purchase would have cost him about £8,665 before commission etc. While it's very welcome, i wonder what fairly minimal percent of his annual summary it comes to.

From yesterday's RNS and WH's later comments (assuming the latter have been correctly reported) you can calculate a 170 bbl difference between the 680 barrels of oil / day and the 850 (total barrels of fluid / day) which is the daily water volume. I calculate this to be a 20% water cut, or 170 / 850.

Hi Canchat. I have to disagree with you here. My oil field experience is that 670 bopd means just that, barrels of oil per day, and it will exclude any water that has been produced.

If Heid and others are still wondering about the oil rate, why don't they read the two RNSs? UO's says "a gross average rate of 670 bopd since then, and 674 bopd recorded on 17 December 2023 over a 24 hour period". This seems pretty clear to me. If water is still being produced, which it surely must be, it will be in addition to the oil. I'd think, based on the last 3 or 4 months NSTA production data, that the water cut is now somewhere between 15% and 20%, especially with the ESP operating 24/7. IMO it's about 670 bopd (oil / day) plus around 140 bwpd (water / day) which would give an approx. 17% water cut. However, this is only my guess based on the 7.6% w/cut reported for Aug '23 by NSTA .

Hi Serif. If it really is Crosby Warren they are using for water disposal, and with EOG only paying 30% of the disposal costs, then we must be in the money to a small degree since we will receive ca. $150 / day but only shell out $45 / day.

Two interesting Wressle RNSs from EOG and UJO this morning but I really wish they’d told us about the current water cut. I’m reading between the lines here but, IMO, the well should be able to produce at an even better rate than this. According to the NSTA’s data there was negligible September production but the previous three months of June, July and August averaged 778, 619 and 241 bopd respectively. The average water cut was 2.3%, 3.9% and 7.6% while the gas / oil ratio showed a significant decline from 675 to 545 to 461 cu. ft / barrel. If the water cut was 7.6% at 241 bopd and we’re now producing 680 to 700 bopd, one might expect the water cut to be between 15% and 20% by now. This won’t do much for the operating costs but I suspect it’s not a very serious matter. Let’s assume a 17.5% water cut and a disposal cost of about $1 / barrel to put the water into a nearby non-producing well, perhaps at EOG’s Crosby Warren. We might have about 150 barrels of water to dispose of costing about $150 / day for its disposal. Divided by 700 barrels of oil, this represents only about 21 cents per barrel of oil. In conclusion, I’m hoping for closer to 750 bopd going forward, and I also suspect that Egdon might not have used the micro-generators lately as the produced gas is probably nowhere near the 10 tonne / day limit.

Hi Hydras. I can readily understand why the EOG board should be chasing Heyco. But Reabold? Unlike UJO, we don't share any interests with them, so what would be the point, except for our board to find out how to handle an EGM request!

Hi there Mightyeagle. I'm confused by your last post. If you don't trust Larry Bottomley and his board, how on earth can you have any confidence about their prediction that eventually the well will produce up to 900 bopd? Unless you mean that even 40 bopd is "up to 900 bopd".

Hi Ezhic. Are you sure about BCE's possible use of formic acid? More likely it'll be hydrochloric, or maybe even something stronger, but I think formic acid is something that ants excrete.

Hello Heid. Who is "George from Union Jack" please?. I'd never heard of him until you mentioned his name.

Most of the recent comment on this board is all about the forthcoming EGM, whenever that's going to happen, so I thought I'd take a look at the Colle Santo CPR (Competent Person's Report), as prepared by RPS in September '22. There's a lot of detailed technical information within it but, IMO, there's quite a lot that isn't being revealed about this asset that S&S are "betting the farm on". For example, why haven't RPS shown any useful, modern seismic lines? Perhaps this is because there aren't any. The 2D seismic data used to compile the map is quite limited and it's pretty ancient. It's actually mainly old dynamite and other 2D data. And RPS haven't provided us with any useful well logs, well correlation panels, nor even an interpreted petrophysical log. All in all, the CPR seems a bit thin to me. Has anyone else has had a look at it and, if so, what do you think? Thanks.

Here's something I posted on 30 Nov which might perhaps be of interest regarding the performance of Paul Barrett & Erika Syba, albeit some years ago:

"Shareholders with fairly short memories, who think that a return to the days when Paul Barrett & Erika Syba were running the company would be a great idea, might like to be reminded of the following. PB and ES floated Europa on AIM at 25p per share in November 2004. In the early days the shares traded between 25p and 35p but, by the time they left the company (ES in August 2010 and PB in Oct 2011), the SP was 12p in the case of ES and 13p for PB. So their performance was 't exactly stellar either."