Member Info for GreyPanther

This afternoon's RNS said: "Egdon Resources plc (AIM:EDR) advises that its application to extend to 31 December 2021, the existing planning permission to drill conventional exploratory oil well at North Kelsey-1 site location was approved at today's meeting of the Lincolnshire County Council Planning Committee".
That's pretty good news for Egdon and Union Jack but, with Egdon at an 80% interest, I wonder if they will be able to find the cash to drill it without doing several more farm-outs.

Hi Medauntouchable. Your idea about drilling a second surface hole and casing it before getting the larger rig on site to drill the B-1 well makes sense, but that's only if Rathlin are certain to drill B-2 immediately after B-1. They've not so far said that they plan to do this, so my money is still on them going from the current surface hole to B-1. I would expect this to occur quite soon after, but they will first have to move the small rig out, then move in and assemble the larger drilling rig on site.

Hi Mike007. I too am optimistic about the SP, but what is your amazingly precise forecast based on? Is it a chart of some sort, or just an aspiration? Sad ly these are much the same, at least as far as I'm concerned. All the best.

Hi Lenin. It's not just UJO and its partners that suffered a falling share price last week. Looking at the whole sector, the recent weaker oil price has affected sentiment generally. You might wonder why this would affect small companies who aren't yet producing very much oil, but it nearly always does. Almost all oil companies big and small, including BP and Shell, have taken a knock if you look at their SPs over the last month. But with all the news to come, I don't think PI's should be panicked into hasty decisions.

No planning permission yet, of course, but I've just checked East Riding Council's website and the report is correct. The anticipated applications for the West Newton C & D well sites won't require Environmental Impact Assessment Statements. The planning applications themselves will obviously be required in due course, but it's one (or two) less hoops to jump through.

Therewas an interesting report on Reabold's board this afternoon about the Environmental Impact Assessment screening requests to East Riding Council for the potential new well sites WN-C and WN-D. According to the publication "Drill or Drop" the Council has recently determined that the planning applications will NOT require an Environmental Impact Assessment. I've not yet checked the Council's website but, if this is accurate info, then it's pretty good news.

Hello Heid. I had a very quick reply from LSE which said "As far as I can tell the whole thread was removed so your posts went with it. Kind regards, Craig". Your suggestion yesterday was therefore spot on, but it still seems a silly - though perhaps time saving - way to moderate a board. Thanks, GP.

If you are interested in the details, a full listing of all the new (32nd Round) licence awards, arranged by operator, can be seen at:
https://www.ogauthority.co.uk/media/6673/32nd-round-winner-by-administrator.pdf

Hi there gkb47. Thanks, and I'll give it a try. Like you, though, I'm not expecting miracles. GP

HI there Mirasol and RNSTranslator. It's qute possible that Rathlin will be doing LWD (logging while drilling) rather than merely MWD (measurement while drilling) regardless of whether they get round to coring or not. That way, as well as the possibility of detecting any gas / oil/ condensate in the drilling mud on the way down, they'll have some early logging info to go with any cores that they actually take.Mind you, I'm assuming that coring has been written into the drilling programme, perhaps at least one core in the Kirkham Abbey Fm regardless of shows, and one in the Cadeby Fm, possibly dependent on shows. Still, I've - rather obviously - not written the programme, so only Rathlin and the partners really know. Although the B-1 well is apparently classed as an appraisal well, we could still get some geological surprises (in my opinion, of course) within the Zechstein section since we are very close to the Southern Gas Basin margin here. Let's hope not, though! All the best, GP

I'd be quite surprised if S&S went for a special dividend, no matter how successful WN may turn out to be. Dividends are not exactly tax efficient these days, and S&S are nothing if not savvy in the financial area. I therefore think it's more likely that they would think about a share buy back. That way their investors, including us, would only pay capital gains tax over a certain level of profit, rather than income tax which is likely to be at a significantly higher % than CGT. That's just an opinion, mind you.

Hello Heid. Thanks v much for the explanation - but it's still annoying.
All the best, GP

Hi ninetails and gkb47. Thanks for your comments. I don't know how to go about making a complaint about the removal of an inoffensive posting on mine recently. Can you point me in the right direction please?

Can anyone tell me why two fairly uncontroversial postings would disappear from this board overnight? I posted twice here yesterday (one was a very short post) and although I can still see both of them when I look at the list of my own postings, they seem to have disappeared from here! I'm not a conspiracy theorist, just rather curious. I'd like to know if this is unusual as I don't think it's happened to any of my previous postings. Thanks, GP

Hi Mark8178. Got it, thank you, and I'm sorry for my confusion. Parta had slipped below my personal radar for the time being - but it obviously shouldn't have.

Hi Mark8178. I don't think you are right in saying that there's "only about a week to go to start acidisation" if you are talking about the A-2 EWT. There was a 4 August RNS that said that B-1 will be drilled next and the testing of both the A-2 well (and the B-1 if warranted) would follow the B-1 well - which is now under way. You can find it on the "Live RNS" tab above. All the best, GP

Hi royoboy. I'm really sorry you don't like my posts. Well, that's tough! At least I try to do some research which is more than can be said for many on this BB. Anyway, you can always filter me, as others have probably done. By the way, your own posts are often almost incomprehensible.

Hi gkb47. Thank you, I realised that, and I was only trying to dig into the details a bit, so I may be wildly wrong in my so -called calculations. All the best, GP

Royoboy. Do grow up, please! That's not a nice suggestion and I think (IMO, of course) that it's potentially libellous. I'm a UJO shareholder not only because I like our assets, but also because I trust the management a lot more than I do the managements of many other AIM listed companies. Think about UKOG's management, maybe. I'm confident that any money received form Humber will be safely in a UK bank account, and not frittered away or even spent at the betting shop. I know that I'm not a shining example, but I try to make my comments in reasonably polite, unambiguous English. Maybe you could try to do the same?

Hi JamesParsnips. If DB really said the cost of a sidetrack at Biscathorpe could be as little as £300,000 or so, I'd be a bit surprised. At UJO's new 30% equity, and depending on the length of the sidetrack, maybe one to two kilometers, it's likely to cost about £1.5 to 2.0 million gross, so I reckon UJO's share could be £450,000 to £600,000. That does seems a lot, but onshore drilling has become very expensive these days. There are very few suitable drilling rigs now available in the UK, and all the other costs keep increasing, especially on site security, etc. Was that possible mention of £300,000 in one of DB's intereviews, and when was it please? All the best, GP