Member Info for GreyPanther

Beacon certainly said 250 bopd (barrels of oil per day) in their RNS. But they didn't indicate what percentage of what was being produced then was oil, and how much was completion fluid and / or drilling mud etc. Is it possible that they meant 250 bbl fluid per day, in which case it's quite important to know exactly what was in the mix then, and what it is now as the well cleans up.

Hi VernetLes. I don't think Egdon's "flashy website" is all that new. It's been around now for some months and it doesn't, as far as I can see, incorporate much that's new since the takeover.

I'd not be surprised if the old guard at Advance Energy are still significant shareholders in Beacon but, probably fortunately for us, the two large Beacon placings in 2023 will have significantly reduced any power they might once have had as shareholders. To be fair to Bottomley, while note that he had previously been a non-exec director at Advance, but was was only appointed as their Acting CEO after the old guard left In January 2022. He didn't become their CEO until December 2022. As for poor drilling decisions at both Advance and Beacon, I was in the exploration business for many years and I don't mind saying that we've all made a few serious mistakes along the way. Luckily some of our companies survived these events.

Hi there Uggy. It'ssomewhat reassuring to know that so many of us appear to despise the "two slimeballs ". But how can we get shot of them?

Hi Hms687. While one can only hope that there will be no more screw up with the Schwarzbach-2 well, according to Companies House website info on Advance Energy, all the exec directors involved in the drilling of the Buffalo well left the company in early 2022 before it was re-launched as Beacon Energy.

Hi Uggy. IMO Rathlin are unlikely to have contracted a rig since they can't yet guarantee being able to pay the daily rental rate. The most we can perhaps expect is that they've ordered and one hopes paid for the tubular goods, casing, drill pipe etc. Since a long each horizontal well is being planned at WN, I suppose those items might come to not more 10% of the £12 MM well cost. So perhaps nearly £11 MM is still needed, but this is only a guess. Regarding UJO and Beacon, it looks to me as if a lot more thought went into that investment decision than RBD's management put into the LNEnergy decision.

The UJO deal could possibly lead to something more substantial, and in an country where the planning issues seem to be under better control than in the UK or Italy.

Hi itsawrap. If you have a look at the previous stuff on Rathlin's website, I reckon they repeat all this guff because they've nothing new / meaningful to say about our own neglected asset at WN

The big problem behind the lack of further drilling at West Newton can, IMO, be squarely laid at Rathlin's door. They don't have the money and are unable to raise any in Canada / London, it would seem. And it appears that Reabold are not yet in a position to advance them any money either. If RBD do get some cash from Shell later this year, where do you think it will go? Most likely into exec. pay packets, I reckon, and maybe a small share buy back to keep some of us punters quiet. But a dividend? I don't think so.

That should have said :

I cannot for the life of me understand why today's 4.35% rise in UKOG's SP is justified by thus morning's disappointing "jam, possibly tomorrow, but most likely not that much" RNS. Buck up Sanderson!

I cannot for the life of me understand why today's 4.35% rise in UNOOK's SP is justified by thus morning's disappointing "jam, possibly tomorrow, but most likely not that much" RNS. Buck up Sanderson!

Will we see a series of TR1s from the other institutional holders? Most likely we will, as some of them will have been diluted by not participating in the placing, and there may even be a few new institutions coming in.

Hi TAC. Regarding the Clymore royalty, 'm not sure if this helps, but a line on page 17 of the Half year results says: "Disposal of assets £227,272". This can't relate to the Egdon takeover, so the only other thing I can think of is the royalty sale. If so, David Bramhill has done very well as he paid £93,610 for the royalty in March 2021, effectively selling it for 2.4 times what he paid for it.

Judging by their earlier performance there's almost no chance that Egdon will complete the work at Wressle early.

I've a reasonable holding in BCE which is showing a small (20% or so) profit and a slightly larger holding in UJO which isn't (yet) profitable. So, from a personal POV I was pleased to see UJO's 3.22% shareholding announcement this morning. I'm also wondering if, as well as holding a small BCE stake, they might be interested in farming in to one of our German licences. They seem to be stymied by the UK planning system, which isn't the case in Germany.

The 10,000,000 "Sale" at 14:01:59 today was in fact a purchase, and I know this for certain because it was mine!

It's definitely Fri 29th Sept for payment for our Egdon shares.

Singie. Another query, if I may. Are those other units, as in 39.9 units per cubic metre, measured in MJ or something else? Thanks again.

Thank you Singhie. Doing the arithmetic on those figures it looks as if the day's conversion factor is 90.33 cu.ft / Therm and the monthly average is 90.44 cu.ft / Therm. So our gas has quite a high calorific value. Is this right, in your opinion? Many thanks, GP

Hi there Singhie. I find your ouput posts very useful, thank you. Would it be possible, as well as posting "Daily Output (Therms) = 91,483" and "Month To Date (Therms) = 1,513,664" to also tell us the daily and monthly outputs in cubic feet? I can't seem to find the calorific value of our Saltfleetby gas in Therms per Mcf. Many thanks.

Hi Hms687. I look forward to seeing or hearing about your case if you decide to proceed. Thanks, GP