Member Info for GreyPanther

As they said then Selfish, "The Corallian board of directors CURRENTLY considers the offer sufficiently attractive for all shareholders to commence a sale process. A further update will be provided in due course" must still the case. Even so, it's been a while since the 4 May RNS from which your quote is taken. Maybe I'm being too impatient as it's only been 3 months.

Still no news from our board on the price achieved for Victory, or even to confirm that it's still on track. In view of the much improved gas price, maybe they're holding our for a better "non-binding, conditional offer". With the lack of news, maybe it was more of an "informal proposal". Any thoughts?

This morning's RNS from Egdon and UJO says that the North Kelsey Appeal has been submitted. And about time too, if I may say so. Lincs County Council turned our application down ias long ago as March '22.

Hi boom.boom. It's worth bearing in mind that the forthcoming appraisal well (likely to be called13/23c-12) is about 3 km west of the 13/23c-10 discovery well - as far as I can tell from the published maps. So it's quite a bold step-out. However, it's in a geologically well known area, and I assume that the prospect is covered by modern 3D seismic data which should make the prospect mapping very reliable. Coupled with that, though, is the well's proximity to a major fault on the southern flank of the Halibut Horst, We don't yet know if that fault is a "sealing fault" along its entire length, and success in the appraisal well will require that to be the case, at least locally. I'd say that we probably have a slightly better than 50% chance of finding (more or less) what 3i are looking for by way of a decent oil column in the Captain Sand reservoir. The odds are probably even better than that of finding a somewhat smaller oil column or, at worst, only residual oil because the fault has leaked at some time in the past. I don't want to rain on anybody's parade here so I'll probably give the well a 40% to 50% chance of being commercially viable at the proposed location. But I'm already keen on it, aren't I, since I'm an EOG shareholder! So perhaps I'm more optimistic on the quiet. I know one of 3i's technical people and, from what I hear of the others, I'd rate them as being very competent. Now they've done their bit, we can only hope for the best.

Hi again boom.boom. Thanks for posting this useful info. I could / should have found it for myself had I known where to look! With the reservoir interval(s) seen from 4,740ft TVDSS to 5,252ft TVDSS in the Serenity discovery well, this indicates a gross reservoir interval of 512 ft TVT (True Vertical Thickness) in the Captain and Coracle Sands, with 165ft TVT of sand in total containing ca. 10 ft of oil, so a Reservoir Net : Gross Ratio of 0.32 with a partial oil fill. This sounds pretty good to me All the best, GP

Hi boom.boom. Thanks; I was very interested in your comment that "Tain was 5 feet, Serenity was 10 feet. Was this the reservoir thickness or the oil column in those two wells? Your comment made me wonder if the reservoirs in the Tain and Serenity discovery wells were completely oil-filled in both cases? If so, presumably no oil / water contact has been seen yet in the Serenity discovery. IMO this would be seen as very positive for the oil column we might see in the forthcoming well.

Hi Gwynwin. What makes you think that UKOG owns any of Wressle? Are you maybe confusing UKOG with either Egdon or Europa? Surely not!

Thanks boom.boom. i3'shoped for 30 to 40 feet of pay doesn't seem unreasonable in this area, and It may be even better down-dip or to the west.

My understanding is that we have farmed in for 25% of the Serenity discovery (and its hoped for westward extension on Block 13/23c where the forthcoming well is to be drilled) so it must include the (?)10 to 25 million barrels already found by well 13.23c-10 . As for the other successful wells in the area, as at Tain, Liberator and maybe Blake, these are all located on other licences so we have no current involvement in them. As to what will happen if "Serenity is a success on the scale the RNS seems to indicate" I honestly struggle to accept that an oil column of over 1,000 feet, as described on i3's website, is present next to the Halibut Horst - but I've often been wrong in previous geological predictions. Unfortunately for us, the forthcoming well won't answer this one as the reservoir thickness is expected to be far, far less than 1,000 feet. In the event of a successful well we might have to drill a down-dip side-track, presumably towards the south. This could prove very useful if the reservoir is found to be completely oil-filled and the oil water contact isn’t reached, or perhaps if there is seismic or other evidence to suggest that the reservoir thickens to the south. In this case it would be very useful to know how much of any thicker reservoir is oil-filled as this could support an increased oil in place. I reckon EOG's staff will learn a lot more when we get to total depth and they have seen the logs. Good luck to all, I say.

Hi Uggy. Rathlin UK currently has 16,530,700 share in issue. I posted what follows on UJO's website a few days ago. and haverepeated here as I hope it answers your query:
"Regarding Reabold's interest in WN, the last time I looked at Rathlin UK's info on Companies House website (and I don't think it has changed since then) Reabold owned 9,832,727 of Rathlin UK’s 16,530,700 shares. That's about 59.5% of the company, so I sincerely hope that Rathlin still have plenty of cash. If they don't it will probably be us (RBD), since we technically control Rathlin UK, who will be funding 66.67% of the next well at WN, and not just our direct 16.665% interest."

There was an interesting comment by i3's CEO in their RNS yesterday:
"The next significant step is to drill the appraisal well, which is on track for spud in September. The well will help us delineate the size of the field and provide the critical information required to formulate an effective development plan for a potentially very large oil field. We look forward to updating the market on our progress at what is an exciting time for i3's North Sea acreage" and I particularly liked this sentence:
"provide the critical information required to formulate an effective development plan for a potentially very large oil field". Let's hope he's right!

Have a look at:
https://www.vesselfinder.com/vessels/STENA-DON-IMO-8764418-MMSI-232020225
if you want to see when the Stena Don drilling rig starts its move towards the Serenity location,

I'm struggling to read MW's text. Could Heid or AN Other post the full article? Thanks

Hi Uggy. Thanks for that. I sincerely hope your interpretation of SW's view is correct as there's not very much left of Parta's current licence period. I believe Parta will expire towards the end of 2022 unless significant extra work has been carried out or is at least "in the pipeline".

I'm keen to see our next RNS too, and hoping to hear something positive about either (or preferably both) the Victory sale and the West Newton CPR sson. However, I can't say I'm holding my breath for any good news from Parta ,regardless of how much cash we may have in the bank. It's been nearly 3 years since we had any meaningful news from our operator ADX and, IMO, a new farm-in partner is essential to get something happening there. Rather sadly, I don't see ADX doing anything much with Parta, and we presumably aren't able to conduct sole risk operations ourselves, so they must be waiting for the licence to expire. I hope not, but waiting seems to be what RBD's CEOs do best

Hi Serif. Union Jack's half year (30June) results usually come out in mid September and last year they were released on 13 Sept '21. So we'll probably get an early indication there about how well Wressle has performed from a financial POV about a month before our full year results come out. I wonder if both companies will be showing a profit. Let's hope so!

Hi Mirasol. I don't see Egdon being able to develop Resolution on their own from a technical POV or, perhaps more important, being able to afford it . So I'm wondering if Centrica's recent decision to try to re-open the Rough Field gas storage project (which isn't very far to the NE of Resolution) just might encourage a bigger company to take Shell's place, or at least take another look at it.

Hi boltok. Thanks for that. I'd really like a 10p EOG SP in the event of a successful Serenity well, especially as my average is 1.44p

My previous post had a word or too missing.
From what's been published it looks as if three of the four (or maybe more) wells in our area have been technically or even commercially successful, which is a pretty good ratio. In the event of our well being successful too, I'd expect further appraisal wells in the near future, or maybe even an immediate side-TRACK well. In this case, I suspect that i3 will have deeper pockets than us, so I'm concerned that a quick follow up well could have serious financial implications for us. In any event, if our forthcoming well is a success, then EOG's SP should reflect it, so perhaps the next placing - if there has to be one - would be on much better terms than the last.

Hi Serif. From what's been published it looks as if three of the four (or maybe more) wells in our area have been technically or even commercially successful, which is a pretty good ratio. In the event of our well being successful too, I'd expect further appraisal wells in the near future, or maybe even an immediate side In this last case, I suspect that i3 will have deeper pockets than us, so I'm concerned that a quick follow up well could have serious financial implications for us. In any event, if our forthcoming well is a success, then EOG's SP should reflect it, so perhaps the next placing - if there has to be one - would be on much better terms than the last.