Member Info for GreyPanther

I was particularly amused by the phrase: "a possible offer price at a 10% premium to yesterday's closing price, implying a value of 0.2035 pence per ordinary share". IMO that's a premium of infinity percent over the approx. Nil value that Reabold has with the current management so ineffectively running the show.

I assume the outcome of tomorrow's meeting will be RNS'd. Or will the minutes merely appear in due course? If it's the latter, wouldn't this make the local inhabitants "insiders"? So, could someone please provide a link to the minutes if such a link is provided some time after the meeting. Thanks.

This was posted by Serif on Europa's LSE board last week
"Egdon have apparently set the next community liaison meeting for Wednesday 15th March, so seems likely we will get the long awaited Wressle update start of next week"
Let's hope for a decent flow ratesfrom Wressle. Frankly, I'd be very happy with 800 to 900 bopd.

Thanks Singhie. One thing we know exactly is that there are 35.3147 cubic feet to a cubic metre. So we can at least calculate the flow rates, even if we can't calculate the value of the gas produced in NBP (National Balancing Point) pricing terms. Would the current NBP price of about 110p / Therm be very different to what the Grid pays Angus for the gas, I wonder?

Drill or Drop has reported that in 2022 the gas flared from all UK Onshore fields was 9,615 cubic metres in total. This is apparently the highest since records began in 2016 but it's still only about 340,000 cubic feet, presumably per day, of which Wressle's 2,195 cubic metres (77,050 cubic feet) is about 23% of the total flared. This doesn't seem very much to me, although Wressle has only been reporting since July 2022.

Hi INEEDADOLLAR. What are the units in whicj they've reported the flow data? I assume it's in millions of something per day, but it's not possible to guess. Thanks

Good Lord! The LSE board won't even let one post h*o*m*g*e*n*o*u*s.

Hi Uggy. I wonder whether the delay is all about Rathlin not currently having enough cash to drill the horizontal WN well, or that they can't decide exactly what to do next. After presumably the best two of the four wells drilled so far failing to test at anything near a commercial rate, where will they decide to try next. Or, more to the point, in which direction should they drill? Maybe it doesn't much matter if the reservoir is ****genous. However, the Zechstein can be a difficult nut to crack, as the Pensacola test results show us. That's even with Shell in the driving seat at Pensacola, and they are way more experienced than Rathlin at this..

It's unlikely there are "only three months to wait .....and WN kicking off the same time". IMO Rathlin won't actually drill WN in 2023, as they still don't have enough funds to drill a horizontal well at ca. £12 million gross, or £8 million net to Rathlin. Will Rathlin raise much of the cash from us, I wonder, or can they get it elsewhere? Or will the RBD management sit around for even longer, gobbling up their outrageous salaries. Maybe we should now think about WN, Parta and California as bottles of wine of doubtful quality that someone takes to a dinner party, and are never opened, only to have them turn up next time for a do at your place because they've been judged to be undrinkable! How long do we have to wait for someone to open those bottles, I wonder.

Did anyone notice the excellent Wressle production figures for December '22 ?The NSTA has recently reported an average figure of 787.95 bopd for that month plus 72.05 boepd of gas. By my reckoning that an average of about 417,900 cubic feet of gas per day that should obviously be used to generate electricity, and not flared. But the total figure of 860 boepd for the oil plus the gas is the best figure fromthe NSTA since they started publishing for July '22.

I see someone is wittering about an "'easy" 1200 bopd.
IMO we will be fortunate to see 950 to 1,000 bopd once the turbines have been fully commissioned and have settled down.

Those 18,591,000 shares were probably not so much a "bonus" but IMO were more likely to have been option shares exercised by staff and / or directors. The annual accounts, when we see them, will show us how many of them went to the exec directors.

More factual information and some sensible opinions on this board please, and a bit less of the self-congratulatory flim-flam would be most welcome. If the cap fits, why not wear it?

Europa's interview yesterday told investors the micro-generators were still being commissioned, so presumably they aren't yet running at full tilt. And you can either believe the NSTA saying December's oil production averaged 787.95 barrels per day, or you can listen to the uninformed predictions of 1,000 to 1,200 bopd. However, if you chose to increase 787.95 bopd by as much as 20% you are still looking at "only" about 945 bopd, not the over-egged 1,200 bopd.

This is how I see the NSTA's figures. December's oil production averaged 787.95 barrels per day and the gas averaged 72.05 boepd (barrels of oil equivalent per day). From figures published elsewhere, the NSTA uses 5,800 cubic feet of gas as the equivalent of 1 barrel of oil, so 72.05 boepd represents 417,890 cu. ft of gas per day. This gives us a GOR (gas oil ratio) of 530 cu. ft per barrel, which is fairly high, but not excessively so. And if we assume the field was producing and flaring a bit less than 10 tonnes of gas each day on average (because I think there were some shut downs), Egdon would have to reduce their gas flaring by about 85,000 to 100,000 cu. ft per day to achieve a 20% / 2 tonne per day saving. This is IMO, of course.

A little knowledge is a dangerous thing. And, after quite a few years in this business, I can honestly say that having none is usually even even worse. Without an RNS to tell us about the status of the micro-generators we can't really say what Wressle is currently producing, nor what it's likely to produce when fully commissioned. IMO - and this is only a guess - we'll be fortunate to see more than 950 to 1,000 bopd, even after the micro-generators are fully commissioned.

i'm not sure what happened there. Here's I meant to say:
I'm probably as enthusiastic about Wressle as most posters on this board but IMO it would be sensible not to get too far ahead of ourselves. While I was very happy to hear that the well produced at over 1,000 bopd in December, we don't know for how many days it did this, nor whether it was "flush production" after a possible shut down. So I'm going to wait until I see the NSTA's numbers in a few weeks time before I get too excited. My personal opinion is that the well is still averaging about 750 to 800 bopd and that a 20% uplift (once the micro-generators are running without interruption) will give us a rate in the 900 to 960 bopd range going forward.

Hi TAC. I'm probably as enthusiastic about Wressle as most posters on this board, but IMO it would be sensible not to get too far ahead of ourselves. While I was very happy to hear that the well produced at over 1,000 bopd in December, we don't know for how many days it did this, nor whether it was "flush production" after a possible shut down. So I'm happy to wait until we see the NSTA's numbers in a few weeks time before I get too excited. My personal opinion is that the well is still averaging about 750 to 800 bopd and that a 20% uplift (once the micro-generators are running without interruption) will give So I'm happy to wait until I see the NSTA's numbers in a few weeks time before I get too excited. My personal opinion is that the field is averaging about 750 to 800 bopd, and that a 20% uplift (once the micro-generators are running without interruption) will give us a rate of about 900 to 960 bopd.

Sorry S740. None of us is perfect! Allthe best.

The phrases "one third open" or even "30.5/64" choke" aren't very helpful IMO. As milnrowmug has correctly pointed out choke sizes are best expressed as 61/128", for example. But please don't run away with the idea that 1" (or 64/64") is the maximum choke size. Chokes can have up to a 2" outside diameter. When in normal use they are shaped more like a ring than an open circle. Regarding the current choke size, until we've been told that the micro-generators have been commissioned, there will be a need to keep the flared gas below 10 tonnes per day. So I suspect that the current choke size is a bit smaller than 30.5/64", maybe closer to 24/64", which is only 3/8" in my terms.
Sorry to rabbit on. GP