Member Info for GreyPanther

Thanks gallder. That's very helpful. GP

HITS and Mirasol. Thanks for the clarification(s). I'm also interested in the calorific value of Saltfleetby gas. HITS' 153,600 cubic metres to 55,731 therms implies a value of 0.3628 therms per cu. metre / 10.27 therms per Mcf, which seems slightly higher than some Southern North Sea gas values I've seen , such as10 therms per Mcf. Do you know if the precise calorific value of Saltfleetby gas has been published in an RNS or anywhere else? Thanks, GP.

Hi Dartron. Can you please say what ' meant by " ....the interims will be announced this week, with them being released 2nd week of November". I assume you're talking here about the announcement of the FINAL (31 July '22) results . I tink the interims would take us to 31 January 2023

I'm sorry to be a bit dim, but what does an average flow rate of 0.1539 (No units) mean? Could someone please tell me what these units are, and how much is it nif expressed as million cubic feet of gas per day - which I can relate to. Thanks.

Don't you just love the irony in yesterday's RNS from Reabold? Their board ".... notes that a number of the proposed new directors have a track record of exceptional value destruction i.....". I reckon this is just another way of saying "We aren't going to tell you who they are, as don't need any help from outsiders when the two current RBD CEOs have been so effective at value destruction!" I sincerely hope that Pershing manage to get a few more RBD holders on board with their proposed EGM motion. If they succeed in making a few changes at board level I don't suppose that they could be any more useless than their current bunch.

Don't you just love the irony in the RNS? Our board ".... notes that a number of the proposed new directors have a track record of exceptional value destruction i....."/ Is this another way of saying "We don't need any help from outsiders when our two current CEOs have shown themselves. so effective at value destruction. I sincerely hope that Pershing manage to get a few more shareholders on board with their proposed EGM motion and succeed in making a few changes at board level. CI can't suppose that they'd be much more useless than the current bunch.

So, Mrs wamp, what are you going to do with that drone? No doubt it will contains quite a lot of petrochemicals. But presumably you'll just drone on, as per usual.

I should have added that I'm not one of the LTHs blaming EOG's management for taking a bet on Serenity. The odds were apparently about 50%, even for the appraisal well we've been told. If it had worked out Oddy would have been a hero. it didn't, and now he's a villain. IMO we need to get real. These things can happen to an O&G company that drills wells.

Hi chasrutledge. Thanks for that. However, we don't own 33% of Serenity; it's actually 25%. Our 21 April RNS said "Europa is acquiring a 25% interest in Serenity by paying 46.25% of the appraisal well cost, equating to a 1.85 to 1 carry". Otherwise I'm with you and I bought more after the dry hole announcement on Monday at 1.4p. S I'm keeping my fingers and legs crossed. All the best.

The "live info" coming from the Bisc appeal hearing that's being reported via Twatter is hardly live, and is even less live than I am. Is there a genuine link to the actual appeal proceedings, and also to the recently submitted Egdon document that Drill or Drop has been banging on about? Thanks.

Does anyone know if UJO's £1 million was a loan that has already been drawn down, or was it merely a facility that has yet to be used by us? Thanks.

Hi tonynorstrom1. IMO it's impossible to know without seeing whatever logs they do have. I hope they've obtained some LWD. In any event, presumably i3E and EOG know exactly which sands are present in the well, and where the OWC should be at this particular spot. But I wouldn't want to even guess without such info. Sorry!

It's a very disappointing result, but it's possibly significant that it was so clear cut it was thought unnecessary to do any logging. Speaking as a former geologist, what I don't get is the following sentence in the RNS: "The targeted Lower Cretaceous Captain sand, which contained hydrocarbons in the 13/23c-10 well discovered in October 2019, was not present at this location. Over 100 ft of other Captain sands in various sequences were found but were water wet....... “ Unless they carried out LWD (logging while drilling), which they may have done, how do they know for sure exactly which of the several Captain / Kopervik Sands are present, and which are absent. If there's any bright side to this, at least we won't now have to spend that £1 million loan on a Serenity sidetrack.

Phoo. It seems those were Mark Abbott of Egdon's comments, not Heid's. Although Egdon is still apparently undecided about the exact route to market for the gas as in "We also continue to review other options which could provide an earlier route to monetise gas such as electricity generation and export although the local network capacity is the challenge here." I therefore assume this is the operator's current view. The precise route to marketing the gas may still be undecided but MA's wording makes me wonder if he has something "up his sleeve". I certainly hope so.

Hi Uggy100. I reckon you are being entirely realistic about not seeing the NPV10 for our new assets being realised on a future sale. In fact, I would go a bit further. I'd say that, until we actually have a new asset in production we should only be really thinking about its EMV or the expected monetary value which should more accurately reflectsthe remaining technical and commercial risks of an undeveloped asset.

The NSTA has announced the 33rd OFFSHORE licensing round. There was no mention of an onshore round so IMO there's no way that there will be any new licences in Lincolnshire or Norfolk in the short term. I think the BBC must have been referring to those areas of the UK Southern North Sea which lie offshore from these counties.

The NSTA has announced the 33rd OFFSHORE licensing round, and there was no mention of an onshore round. So IMO there's no way that any new licences will be in Lincolnshire or Norfolk in the short term. I think the BBC, if it was them, were referring to areas of the UK Southern North Sea which lie some way offshore from these counties.

Hi dai2belts. Thanks for providing all the extra info today. I'm sure you are right, in that the 40 ft used for Serenity is a possible "High Case", such as might be selected for inclusion in a CPR or some other company document. It's the TVT (the true vertical thickness) that's important for reserve calculations, not the MT (Measured Thickness). A very large MT will be seen in a well that is either highly deviated and / or drilled into a steeply dipping reservoir. I'm probably stating the obvious, but in all cases the TVT will be less than the MT, sometimes by as much as 40 to 50%, as in the 11ft TVT divided by the 20ft MT seen in the discovery well.

Hi dai2belts. i finally found my copy of the Kopervik paper. It's by seven authors, mainly from various oil companies and consultancies, and it contains some interesting diagrams. These include one showing the ages of all the various sandstone reservoirs within the Kopervik interval. However, there's no key to Figure 2-4 on page 77 of the CPR and, as it doesn't feature any of the wells to the west of the Blake oil field it doesn't add very much to the current discussion of serenity. Well, I tried!

UJO's Wressle announcements have been in $US, not Pounds Sterling So it'll be another $1M in the bank for UJO and $750,000 for Egdon. With the oil price recently being slightly under $90 per barrel, I reckon UJO's $10 million announcement could come in the next few days