Member Info for GreyPanther

That was definitely a 2,000,000 buy at 2.04p on 7 January. It was mine, but seems to have been reported very late.

Why am I not surprised there was no post-Christmas RNS this morning? Well, the AGM is tomorrow so, if EOG have anything exciting to report, my guess is that they won't release it until tomorrow. Let's see......

Hi there Serif. I think they will really struggle. If I recall correctly, the original well tested at only abour 30,000 cu ft per day. So, to get to a potentially commercial flow rate of (say) 1 million cu ft per day, Europa would requre a 30+ fold increase. I've never heard that a fracc job, let alone a mere proppant squeeze, did anything like that. But I could be wrong about more recent conventional fracc jobs, particularly in the USA. And regarding the liklihood of getting sensible farmout terms, when I showed it to a friend he laughed like a drain.

Hi Rasoolb. You've posted: "Scarborough: Drill-ready by 2026, finance in place". If the finance is genuinely in place, how come I received this morning a farm-in document for the very same well on behalf of both Europa and Egdon?

IMO this $500k finance deal sounds a bit desperate to me. It's 4.5% of GROSS Wressle income - and for how long, I wonder. It's actually 15% of their net Wressle income.

I'm amused to see that Persimmone thinks "Dismissing assets prematurely, like California or West Newton, ignores Reabold’s proven ability to realize value strategically". Oh really? So when did Reabold realize any value at all from California, or even from Parta? Both projects are a dead loss, as far as I can see.

From BBC News website: Reeves says windfall tax will increase. The chancellor says she will increase the windfall tax on oil and gas profits to 38%, which will now expire in March 2030. Reeves adds that the government will remove the 29% investment allowance. To ensure the oil and gas industry can protect jobs and support our energy security, we will maintain the 100% first year allowances and the decarbonisation allowance.

Hi itsawrap / LAW. Thanks for pointing out the helpful comments on ADVFN. It sounds to me as if the jury is out there too.

In my opinion neither Parta or West Newton are likely to come good, judging by the very little that has been said about either asset recently. Colle Santo might, just conceivably, be a goer, but I'm still not quite sure where LNEnergy are with this project. Can some kind soul please enlighten me? Thanks

I previously held shares in Greenland O&G which later morphed into White Flame. All this was some time before it was taken over by Blue Jay, which promptly re-named itself 80 Mile. I was expecting to have received my new 80 Mile share certifs by now, but I can't get an answer from the company about what is happening or when. Have any of the original Greenland / White Flame shareholders received their new certifs. yet? Thanks.

So much for Serenity. What a good prospect that was .

Hi PAUL1DEANO. "God Emperor Trumpious"? I assume you mean serial liar, criminal and misogynist. But he does at least like Oil & Gas a lot more than Harris.

The NSTA's June figure for Wressle was "only" 356bopd but the field's complete production data, particularlyfor the period just after the proppant squeeze, isn't available on their website. Putting two and two together, I estimate that since Wressle started production in early in 2021 the average is over 500 bopd over about 1,250 days. So it's not surprising that there's been a significant decline overall.

Pboo says "Oil Production down by nearly 100% in 6 months". That doesn't make any sense to me as it would mean that we're producing nearly no oil, rather than the approx. 356 bopd reported by the NSTA for June. In fact, daily oil production has fallen by less than 20% since the NSTA's 439 bopd for December 2023.

Today's RNS is very encouraging regarding Well 20H. PTAL have said that the Upper Vivian Sand has produced dry oil at a reasonable rate, which to me is worth a lot more than this morning's measly 1.28% increase in the SP.

While the publication of accounts and Beacon's re-listing are still apparently scheduled for August, this pre-supposes that they'll be able to reach a sensible arrangement with Rhein's creditors. None of this detracts from the fact that the original well and the sidetrack were drilled into a pretty cr*ppy part of the reservoir. Indeed, it may be poor everywhere across the prospect. And that's according to someone who was told about or saw the original logs. So maybe Beacon were actually "drunk on their own whisky" from Day 1.

Hi Canchat. if you read my 7earlier post, you will see that I've included both the gross and UJO's net production figures. Sadly, I'm not in any position to put values on either, as I don't know what the opex is, nor what $ price they're getting for the oil or gas. However, I 'd guess that the opex is between $5 and $8 per barrel, and I think Oklahoma crude sells at a $1 to $2 discount to WTI. So if Brent is about $79 per barrel today maybe they'll be getting about $74 to $75 currently less $5 and $8 per barrel for opex. You can now do most of the maths if you like!

Today’s RNS is a very comprehensive update on UJO’s activities in Oklahoma, but it’s possible to glean a few extra facts from it regarding the two Andrews wells. Some 6,460 barrels of oil and 382,000 cu. feet of gas have been produced from well 1-17 since late May. I reckon that’s about a 90 day period, so over that time it has averaged about 72 bopd, or 32 bopd net to UJO. While some investors might be slightly disappointed that there hasn’t been a sustained 100 bopd, there has presumably been a fair bit of “downtime” over that period during the testing. It is, however, producing a light, 46 degree API oil, which is almost condensate gravity, with a very low GOR of about 59 cu. ft / barrel and presumably quite a lot of water. The gas from 1-17 has therefore averaged about only 4,240 cu. feet per day which is less than 1boepd gross. Regarding the later, Andrews 2-17 well, I was pleased to see that it has produced a very decent 184 bopd and 320,000 cu. feet of gas per day on test. That’s 83 bopd net of light oil for UJO plus 144,000 cu. feet of gas per day (say 24 boepd net to UJO for just the gas). At about 1,740 cu. ft per barrel the 2-17 GOR is a lot higher than in the 1-17 well. The second Andrews well came in about 20 ft structurally higher than the first one, so presumably it’s a bit closer to what might be a gas cap in the Hunton reservoir. No water is being produced from this well, it’s free-flowing and severely choked back, so it’s a really excellent well. The two wells together have therefore been producing oil at about 72 plus 184 bopd for a combined 256 bopd, which is 115 bopd net to UJO’s 45% interest, plus the revenue from at least 144,000 net cu. feet of gas. So, bearing in mind that we might see another three wells drilled before too long, I’m very happy.

Thanks Pboo. I hadn't seen the second page until you mentioned it. GP

Hi Pboo. I'm still not quite clear about this figure. Do you think the June rate of ".07" represents 70 bopd as a decimal part of 1,000 or is it cumulative for the month? Thanks, GP