Member Info for GreyPanther

Cloves. I wouldn't really worry about a few people posting an alternative view on this board, or what you call "deramping", when Ant and Dec are doing such a good job for us. It's their actions and / or inactions that have caused most of the damage to the share price.

Hi persimmon. What I actually said was "Or, to put it simply, 10 x NEXT TO NOTHING is still very little". That's still opinion

Hi RonnieB. You asked about doing a proppant squeeze at WN, presumably because similar work seems to have been very successful at Wressle. IMO a squeeze might not work at WN because the reservoir is very different to Wresssle, even allowing for any reservoir damage caused by over-acidisation, etc. For example, Wressle is a sandstone reservoir with some very good intervals within it. These flowed oil at potentially commercial rates at an early stage during the initial production testing some years ago. At WN we may have a complex carbonate (dolomite and / or limestone) reservoir, much of which may be "tight", or not very good at allowing oil or gas to flow. Also, it seem to me that we don't yet have any decent flow rates to enhance. To be honest, I'm not yet convinced about the reservoir quality at WN, in spite of the early enthusiastic comments by S&S. This is only an opinion, of course, but a ten fold increase in WN production, based on what we've seen so far, wouldn't amount to very much. Or, to put it simply, 10 x next to nothing is still very little. We would need to get production rates of at least 1 million cubic feet of gas per day for this to have a chance of commercial success, and I'm not sur if thy can make this happen in the sshort term, now that all the kit has been taken away

Lenin. I wouldn't trust anybody for share price predictions or stock tips. Not even my stockbroker, let alone any of those appearing on the LSE or ADVFN bulletin boards. And that includes me, of course!

Hi Lenin. As you say, Malcy knows a great deal about the O&G industry, especially the E&P sector, but his blogs aren't always taken very seriously by most small investors. This includes me because, IMO, he almost always follows the company / official line uncritically by repeating their RNSs almost verbatim, and he does very little independent analysis. And why should he do otherwise, since that's what his client companies presumably pay him to do. The difference between Malcy and BMD, as far as I'm concerned, is not their shadiness or otherwise, but it's that BMD usually sounds off / tweets / whatever it is he does BEFORE an RNS is issued, and he's more often right than not. Whereas Malcy is always "right" by definition because his blog follows the RNS. I wonder what Malcy is paid and by whom?

Thanks MF2017. I too, rather obviously, thought my post wasn't too badly reasoned as it was based only on what we've been told today. And the market seems to agree with me. I may well buy some more now assuming the SP has bottomed out. Unfortunately for other users of this board, some of our other posters / investors / gamblers know almost nothing about the oil industry and they hate it when their over-optimistic guesses go wrong. And as for Selfish McNimby's "quick bit of research on google" that he attributes to me, I'm sure some googling will be useful to accompany more than 40 years experience in the exploration sector of the O&G industry. I'm now retired and fairly comfortable, and I think I can take it from Selfish and the Mule. How little we know about each other, though.

Yes deemule. I posted much the same message on ADVFN and here. And why not, if it's what I think? Some of us are able to do a little analysis for ourselves based on an RNS, whereas many on this board seem to be over-optimistic investors, more like gamblers, who know almost nothing about the oil and gas industry.

Can someone please explain why, following two almost dentical RNSs, UJO are up by 2.5% and RBD are down by more than 7%. Might it be because we have better non-WN assets than RBD, or are there other factors at play?

A very disappointing RNS, I reckon . The WN gas in place is down by 76% and "liquids" (we still don't know if they are light oil or condensate, but probably condensate from the reported API gravities) are down by 22%. Overall, the total hydrocarbons in place, measured in barrels of oil equivalent, are down by 39% from 199.65 to 121.98 million boe. Rathlin have carried out two very lengthy and inconclusive EWTs (and presumably costing several £million gross) and we still don't know if they can extract anything in commercial amounts or, if they can make it flow at decent rates, how much of it we might recover. I've pretty well given up on the liquids, but they still haven't reported a measurable gas flow rate, which is very worrying. I see there's now a new prospect at Withernsea. I wonder if it's one of the old ones re-named or, if not, what and where is it? And (nearly finally, you'll be glad to hear) did their technical expert Jeremy Jarvis read the RNS carefully beforehand? I've never seen reservoir development (the thickness) measured in MD (measured depth) terms. At least UJO's release seems to have got their measured thickness reports right
And for Selfish, I'm not convinced that a proppant squeeze would achieve anything useful . One has to have an effective reservoir to squeeze into to achieve a 10 fold increase in the flow rate as at Wressle, and 10 times "next to nothing" would remain just that. Rather sadly, I'm left wondering if this licence will be quietly dropped and we will move on to Victory next!

Uggy, Thanks for the clarification; my earlier postings on WN are based on far too many years of geological experience in the UK onshore scene, including at Wytch Farm, even if it's now rather out of date. I think Victory's gas has a substantial value which will be reflected in our SP once we've secured a farm-in partner. I'm happy to wait for the CPR which will probably be quite enlightening, especially considering the recent gas price hike. I feel this is unlikely to be completely reversed but I can't really put my own figure on a value. It could be extremely valuable one day. However, I'm very worried about WN. I wouldn't be surprised if there were no significant liquid (oil or condensate) flows, and only a fairly small amount of gas from what I think will turn out to be a tight reservoir. It will be enlightening to see what their next steps are, and whether RBD (or Rathlin, really) )say exactly the same things as UJO. My worry is that a complete write off is possible, hence my caution. orry to be so gloomy, but WNi is still obviously worth a punt.

Hi Uggy100. Do you think that what I re- posted is false, or just not very helpful? How can you, or anyone else for that matter, know that another, different view is more accurate about what's currently going on at WN? If you have a view, why not tell us what you think? I reckon we'll be hearing something pretty soon from S and S, and Isuspect we may be a bit disappointed, but only time will tell.

A posting on UJO's board this afternoon asserts "For all the doubters, the EWT is over part of the gas / oil separator has just left and I'm told the flare has been taken down waiting to be loaded on a trailer. #FactsNotFiction"
https://twitter.com/WealdOilers/status/1447953697959514113?t=HgxNcIhmrWIHOp-KAobwMw&s=19 There's no obvious indicator of when the twitter shot was taken, so we can only make of it what we will, but it may suggest that an RNS is imminent

Hi RNST. It would probably also be useful to post when Mr Bramhill left those companies , if you know it, and what they were worth on the date he left, rather than their worth at their demise. I was in several of them and I can say say in all honesty that I made decent money in Nighthawk (about £50k as I now remember it) because I got out when he did. It was the American guys who took over after DB's departure who ran it into the ground, I think.

For UK onshore production look at Drill or Drop's website at: https://drillordrop.com They post monthly production by field as soon as it's released by the OGA. Unfortunately you won't find Wressle there just yet because it's still on its EWT / test production phase and hasn't yet been given formal production consent by the OGA. So for now we can only go on what the partners care to say about it.

Cloves. I no longer know how long it's been it's been since the first of the two EWTs started. I think it was in early June, so it's probably more more than 4 months now. But I'm happy (or at least willing) to wait until the EWT at WNA has been completed. What other choice do we have? Except to sell out prematurely, of course, which I'm not about to do after such a long wait. I remain hopeful that Rathlin will find a way of getting some of the O&G out; we know it's there.

Has the emergence of some serious / technical discussion here driven our regular posters away, or has sheer boredom kept them quiet over the weekend? It's about time we heard from our board too as the WN testing seems to have been going on for months.

It's interesting that Egdon and UJO are up this morning, possibly related to the higher oil price, whereas we seem to be going nowhere. I wonder if this is because our other assets aren't making much - if any -progress.

I've just looked at the Brent oil price. This morning it was at $83+. It's good to see Egdon's SP showing some relationship to higher oil prices at last.

Thanks Exploration. I wonder how many of those 118 metres of gross pay will turn out to be gas, oil or condensate productive; presumably at least some of them Let's hope the Rathlin caravan doesn't move back to Calgary too quickly! ATB, GP

And before anybody jumps down my throat, I should add that it's a pity that we have so few facts (yet) about the EWT on which to pontificate after so many weeks of testing. Maybe S&S are working on an RNS right now for Monday. We can only hope that it will be very positive when it comes, or can at least be looked at in a positive way! Good luck to us anyway.