Member Info for GreyPanther

Sorry for my earlier mistake. The latest NSTA reports dated 15 August are of course for August as the NSTA dates them at the middle of each month. They show Wressle's average daily oil production in bopd as an average for the month, and the produced gas shown is the daily average boe per day.

Fair enough SpArmada. I'm very happy to accept what you say. I'm not familiar with the NSTA's workings but I was so pleased to find the production data that I thought it would be complete. I understand that Wressle is held as two PEDLs (Production and Development Licence) 180 & 182, so you would think this covered all eventualities, and that the granting of the development consent would trigger the release of the all the data, but there we go! All the best.

SpArmada. I'm sorry if what I posted isn't correct. But can you explain otherwise why the NSTA hasn't published any figures for June when Wressle gained production consent in late May? I agree with you about the gas flaring. Maybe it will be fixed fairly soon with the proposed small electricity generator. I understand these don't take too long to order and install.

It looks to me as if the NSTA's production data (and Drill or Drop's monthly summary too) are normally published about three months after the month in question. This is why we've only recently seen production info for all the other fields quite recently. All these reports are dated 15 August, but are for July. Welton, which was previously the second largest onshore producer, averaged only 404 bopd in July, so I think Wressle is currently the 2nd largest producer after Wytch Farm.

Hi Serif. I think the two production figures: (15 July: 771.68 bopd and 15 Aug: 711.16 bopd) aren't the production figures for those two particular days or months. IMO they are the average monthly figures for the preceding months of June and July. I say this because the NSTA's production consent for Wressle was only announced in late May, and the NSTA always seem to release their production figures dated the 15th of each month.

Hi Mirasol. I think the two production figures: (15 July: 771.68 bopd and 15 Aug: 711.16 bopd) aren't the production figures for those two particular days or months. IMO they are the average monthly figures for the preceding months of June and July. I say this because the NSTA's production consent for Wressle was announced in late May, and the NSTA always date their production figures on the 15th of each month.

Thanks for providing the link Mirasol / Olivia., I suspect that the two production figures: (15 July: 771.68 bopd and 15 Aug: 711.16 bopd) aren't the production figures for those two particular days. IMO they are the average monthly figures for the preceding months of June and July. I think this is the case bearing in mind the NSTA's production consent for Wressle was announced in late May, and the NSTA always date their production figures on the 15th of each month.

There was an interesting post on the UJO board on Weds which may be of interest to some of us. itsawrap -emailed Mark Abbott as follows:
"Hi Mark, drillordrop has published the latest stats for onshore oil production for August. Wressle is still not included, many of us are wondering why. Can you shed any light on this for the bulletin boards?" Mark kindly responded very quickly.
"We have been providing monthly production data to the NSTA via the online portal since the field gained production consent, so there is no reason it shouldn’t be published. I will chase the NSTA on this to find out why."

There was an interesting post on the UJO board on Weds which may be of interest to some of us. itsawrap -emailed Mark Abbott as follows:
"Hi Mark, drillordrop has published the latest stats for onshore oil production for August. Wressle is still not included, many of us are wondering why. Can you shed any light on this for the bulletin boards?" Mark kindly responded very quickly.
"We have been providing monthly production data to the NSTA via the online portal since the field gained production consent, so there is no reason it shouldn’t be published. I will chase the NSTA on this to find out why."

I would imagine that I'm far from the only shareholder who isn't happy that S&S will be able to keep their snouts in RBD's trough for a while longer.. But will they have learned anything from this exercise?. It was suggested in the Chairman's remarks that the recent shareholder feedback will be used "to enhance the Company's interaction with its investors in the future". We can only wait and see if there will really be an improvement in this area. Well, we can dream about it, I suppose. And regarding the possible £4 million divi / bribe that we might get towards the end of next year, if you divide it by the 8,929,612,550 RBD shares in issue, this comes to a stonking 0.045p per share. I suppose it might help compensate us for the depressing SP performance but IMO it's rather telling that the SP fell further on hearing today's wonderful news.

Hi Buffin. You are likely to be right, I suppose, but I live in hope. So did I hear someone say "Dream on"? Let's hope for better news tomorrow, and maybe someone present at the EGM will ask Oza an embarrassing question about their Victory sale price pronouncement.

Hi Pboo. Thanks for providing that very useful link. I can only assume all the field data is from the operators themselves.

And thank you for the link OliviaOil.

Hi itsawrap. I can't argue with what you say about the limited (or lack of any) relationship between an NPV and the expected or realised sales proceeds for an O&G project. But did S&S even mention this in their presentation? They are both, or should be by now, experienced executives and were addressing shareholders who are presumably not as sophisticated as they are. Nor, in their most recent presentation did they - to my mind anyway - properly explain why we will be receiving far less than 50% of the Victory sales proceeds. I asked at the time whether RBD now owns less than 50% of Corallian and, if so, why we hadn't been told, but answer came there none. If they survive the EGM tomorrow they will really have to pull their socks up, IMO.

Hi Pboo. Of course the numbers aren't made up. They are provided by individual operators as this is one of their obligations. I'm only saying that, apart from the Wessle info, the NSTA seem always to publish their onshore production data on a field by field basis, not for each individual well. I'd like to see this info, but it's not well by well on Drill or Drop. So if you can point me in the right direction via the NSTA I'd be v. grateful.

Hi OliviaOil. Could you please let us know the date of the video about 8 month ago when Oza said "...the valuation of Victory is £193mm @ 50p a therm , net to us that's £96mm." I think it would be great if someone attending the EGM could remind them about what they claim never to have mentioned. Thanks.

In case you're wondering, "How true!" was a response to Mirasol's Tues 17:36 post, not to Heid's or Pboo's later comments. Actually, I don't think the NSTA "publish figures every month for every other onshore production well" on a well by well basis. It seems they do it field by field.

How true!

Egdon are obliged to send production figures to the NSTA as it's one of the conditions for holding a producing licence. More likely, IMO, is that the NSTA are so pre-occupied with their much bigger offshore figures, and probably under-staffed, that they haven't got round to compiling and / or publishing the figures for Wressle yet.

The proxy form says that we should vote "as soon as possible, but in any event so as to be received by no later than 48 hours ....... before the appointed time for the General Meeting (being 10:00 a.m. on 15 November 2022)". That's today, and it probably means that RBD's board will very soon know how the voting went. We won't know until the 17th, of course, but it will be interesting to see the percentages of votes cast, assuming this is published. IMO they will probablt scrape through with institutional shareholder support, but I sincerely hope they don't after their dismal performance to date.