Member Info for GreyPanther

Hi janjan. In my O&G experience a flow / production test can take 7 to 10 days per interval to be tested. We have at least two intervals here which contain oil, so I'd expect at least two tests. However, as Level5 has rightly said "all wells, operations & sites differ". While the production tests could already have been completed, if they were successful the company may be hooking up the pipework up to the surface production facilities at the moment. So IMO an RNS could be imminent, or still some weeks away,

FOMO (fear of missing out) is usually a lot worse on a Friday, especially when news is expected, or is even overdue. So I'm hoping it's going to be a "hold on to your hats" afternoon.

Hi Serif. No, it won't mean it's end of oil production from Crosby Warren because there's already a water disposal well there which is being used to dispose of the ca. 60% water cut from the one producing well

The RNS says that " Reabold acquired a 16.2% equity interest in LNEnergy, whose primary asset is an exclusive option over a 90% interest in the Colle Santo gas field." So RBD holds an INDIRECT 14.58% interest which makes me wonder how, or even if, they will be paid for their share of any produced gas.

The application states "Regulated facility type: Radioactive substances activity". So it could conceivably cover produced water since presumably there are no other radioactive substances on the well site.

I wonder if the new permit could be for the disposal of water from Wressle into a suspended Crosby Warren well. I t would make sense since the two fileds are only a few miles apart, and this would reduce the water transport cost.

Hi Casper 786. Re your Point 2: "By end of 18/24 months AIM was to get to 4000bopd....on mean of 600bopd/well from 3 wells.....4000bopd = £80m profit/yr" While I like the sound of it, I'm not sure that I've understood you correctly. If we're to get 4,000 bopd from three new wells, then they'd each have to do better than a 1,300 bopd average. While we might possibly get a total of 4 new wells, including Schwarz-2, in the next 18/24 months, these 4 wells at 1,000 bopd each would be stretching things quite a bit IMO.

Like most of us (presumably) I was hoping to see a test results RNS well before now. When Schwarz-2 spudded on 19 June we were told that drilling would take 25 days with a further 12 days for testing. Those 37 days would have taken us to 26 July but there were drilling problems. With these issues resolved, some excellent drilling results were announced on 18 August, this being Day 60. By today (Day 77) we appear to have had about 17 days of testing, so we can probably be forgiven for wondering what's going on. My conclusion is that either there have been testing issues or, more likely IMO, they are testing more than one zone. So I guess we'll just have to be patient for a while longer.

Let's hope it's soon as I'm thinking thatmany of us are waiting / praying for a postive RNS at 7 am tomorrow.

Schwarz-2 was always planned to be a highly deviated well, rather than a vertical one. And even after the dropped bottom hole assembly on the way to TD, the well ended up more or less where it was expected to be, which was about 1,460 metres away from the surface location, with a deviation of just over 40 degrees. An important effect of this is that the reservoir thickness actually penetrated will be about 1.3 times thicker than it would have been in a vertical well. This should have a positive impact on the flow rates, all being well.

Simon64 is fooling only himself if he thinks that "Parta has not gone away". IMO it's as dead as a dodo because the operator is doing nothing with this licence, no one wants to farm-in, and RBD have neither the skill set nor the money to progress it on their own. I'm sorry, but I think this one had to join Coulter in the bin.

In response to Ezhik & Gordonbennett1, IMO there could be one combined test of both zones, or two separate tests, one for each zone. The last situation is perhaps supported by the length of time it's taking. Also, based on what was said in the CPR, the deeper, thicker PBS Sandstone is likely to have a better test result than from the thinner Meletta Sandstone. I note that in the last RNS they didn't say very much about the Meletta reservoir, other than that it was oil-bearing. But in this case I assume they'd still want to know what it can contribute to the well's total production potential.

You don't get the weekend off on a well site! But they could be testing the two oil-bearing zones separately, rather than a single test of both zones at the same time. IMO this could easily add up to an extra week,to the schedule.

Hi RogerJolly. You may well be right here. However, in my own O&G experience, logging is almost always done at total depth and the cost and rig time taken to do it are almost always included in the "dry hole cost". So I 'd still prefer to see it as 12 days after the logs have been obtained.

Hold your horses! tHE schwarzbach-2 logging results were announced on 18 August and it was previously said by Beacon that testing might take a further 12 days. So I wasn't expecting to see an RNS describing the test results before about 30 August. It's also possible that they're testing the two pay zones separately. I don't therefore think the news is overdue as every operation in the O&G business seems to take a lot longer than you'd expect.

My rather oddly censored word was n*i* g* g*a*r*d*l*y !

if the petrichor deal completes in a few more weeks, can i assume that shareholders will definitely be receiving their *****rdly 4.5p per share before the end of september? thanks, gp

Hi ScarletVixen. I'd be more than happy with 1p as my average price is only 0.12p.

This was recently posted on Rathlin's website:

29TH AUGUST 2023

WEST NEWTON COMMUNITY LIAISON COMMITTEE UPDATE

Rathlin Energy (UK) Limited is pleased to provide the following update about the company’s ongoing activities.

REGULATORY UPDATE

On 23 August 2023, the Environment Agency (EA) issued the variation of the permit for the West Newton A wellsite which was applied for in July 2021. The variation of the West Newton A permit provides for the production of hydrocarbons as well as the drilling of the six additional boreholes and includes the use of oil-based mud within the Permian age formations at the West Newton A site.

A minor variation to the West Newton B permit, to provide for the use of oil-based muds within the Permian formations, is currently being reviewed by the EA.

OPERATIONS UPDATE

Plans for the proposed horizontal well from the West Newton B site are underway.

Well path selection and the engineered well design have been completed. Wellbore casing has been purchased and Rathlin Energy (UK) Limited has approached drilling rig and other key rig service contractors to determine their availability.

Commencement of operations are targeted for first half of 2024 subject to approval of the pending Environment Agency permit for West Newton B and rig availability.

FIELD DEVELOPMENT

The 2022 Annual Digest of United Kingdom Energy Statistics (DUKES) figures recently released by the Department for Energy Security & Net Zero show that the UK still has continuing dependence on hydrocarbons and imported energy.

Natural gas made up 38 per cent of total energy demand* and close to two thirds of domestic (household) demand* in 2022. Natural gas continues to play a very substantial role in the UK energy mix for electrical generation and domestic purposes.

Domestically produced natural gas is, and will remain, a much-needed part of the energy mix as the UK seeks to reduce its reliance on foreign gas, whether delivered by pipeline or as LNG in oceangoing tankers.

The North Sea Transition Authority indicates that domestic UK gas production has less than a quarter of the Emission Intensity of imported LNG*. This is particularly important, as the UK seeks to reach its Net Zero 2050 targets.

The West Newton discovery, along with the other prospects Rathlin Energy (UK) Limited has identified in PEDL 183, have the potential to provide up to 1 TCF of domestically produced natural gas within the immediate Humber area. The gas from the West Newton field could potentially provide locally sourced feedstock for the blue hydrogen developments being planned within the Humber Estuary.

The anticipated recoverable gas resource at West Newton will have the potential to meet the daily gas demands of over 380,000 homes in the UK for many years to come – based on OFGEM data indicating that an average three-bedroom UK home consumes 7.9 Kwh/day of electricity and 32.9 Kwh/day of natural gas.

Hi bobrad. Your question: "What if all wells are not producing" doesn't make a lot of sense to me either. Do you mean the currently testing Schwarzbach-2 well, or the existing Sch-1 well which is already producing?