Member Info for GreyPanther

Hi Serif. I think EOG are being over-optimistic regarding Cloughton's ultimate reservoir performance. But they've analysed all the proprietary data more deeply than I'm able to bylooking only at the released data on UKOGL's (that's the UK Onshore geophysical Library, and not UKOG!) website. So they should be much better informed. However, IMO they're inclined to be a bit reckless technically, as they were at Serenity

The Cloughton reservoir is rubbish, and I think it's either within a national park or an AONB. I'll eat my hat if Europa ever make us any money from it.

Hi there persimmon. I enjoyed your reference to 88 Energy's "Icewine project in Greenland". One of their recent RNSs says the "Hickory-1 well is located within 88 Energy's Project Phoenix acreage, directly adjacent to the Trans-Alaska Pipeline System ...." so it must have gone quite a distance off piste! Even so, I take what you say elsewhere in your posting seriously, as I too am expecting (or, more likely, still hoping for) a more substantive RNS about West Newton. Does UJO's comment in today's RNS mean that something is brewing at last? I'd certainly like to think so. I'm now wondering if they've found a cheaper way to appraise and develop WN than the much discussed £12 million horizontal well. Well, one can live in hope, but we're not getting any younger!

Having bought a few more UJO shares last week at 17.5p, today’s RNS is excellent news as it shows that we are making real progress in the USA with Reach, and by using our existing cash resources. So no borrowing or placing is required. To mind the Wilzetta prospect’s stated 35% Chance of Success (CoS) seems a bit low for a well defined, combined Hunton and Wilcox prospect which is covered by 3D seismic, when UJO gave a 75% CoS to the West Bowlegs prospect last week. The latter is also a Hunton prospect covered by 3D seismic. Quite interestingly, UJO has taken a 75% interest in Wilzetta, compared to only 45% at West Bowlegs, so some might query this aspect of the deal. I suspect that the estimated 35% CoS is actually for both targets being successful, so the odds of either the Hunton or the Wilcox working here is probably closer to 60%, IMO. The Wilzetta play has most of the factors required for success, and by that the source rock presence and its maturity, and the structural validity have already been demonstrated, so only the reservoir quality needs to be established in the two target horizons. Maybe the younger Pennsylvanian channel sands will also prove profitable if they are present here. Time will tell,of course, but we should know by Q3 2024. This is a heck of a lot quicker than it would be in the UK.

Hello Heid. Sorry to heart about your dog. It's a sad thing to lose an old friend. Now, where's my credit?

I wonder when our two super-smart CEOs will drag a rabbit out of the hat, and tell us how they will help Rathlin tofund their 66.67% share of West Newton. IMO it's about time they got off that particular pot.

When you consider that our market cap is less than £15 million, the thought of a £24 million placing is a bit daunting (or even very unlikely). Luckily the $1 million we are about to receive should be enough to pay for our share of the the well site survey.

Only a 4/5 day silence this time. But I live in hope!

Hi itsawrap. The 2.5% Claymore Royalty had, as you say, been accruing for many years. Even so, I think it did quite well in profit terms when it was sold last year. So maybe buying another 25% wouldn't have been such a bad idea if the purchase price had been similar to the 2.5%. I guess we'll never know now.

Many thanks itsawrap. Now I've found it, the "livestream" is about as exciting as the home page was. Don't you just love one of the shots on the home page? Perhaps it's the management team asleep after a gigantic Italian lunch!

The Andrews well could generate a lot of news for us after the initial RNS on spudding the well. We will probably also see an announcement when it's reached TD, what they found while drilling the well, the logging results and, if the well is successful, some test / flow rates and, once it's on stream, and how long it might take to payback. This is all dependent on success of course but, with the benefit of 3D seismic I'm quite optimistic about the Hunton play in this part of Oklahoma.

That's "live streaming"? If so, those people sitting around that table don't look very lively to me. Let's hope that the members of our board are still alive, or better still .....awake.

There's quite an interesting pattern if you look back at Heid's recent LSE posting history. She posted about 20 times on UJO yesterday, and more than 40 times on 6 Feb. I know it's mostly drivel. However, she had a two week gap between 17 Jan and 2 Feb. Did you get a two week ban from this board Heid? Do tell!

Hi Serif. I've a feeling that most of Wressle's produced water is now going to a licensed disposal well at EOG's Crosby Warren site. And I agree that it's early days to judge the results of the ESP. If that's right about Wytch Farm's 98% water cut, then it's about the same as the cut at Crosby Warren!

By the way, my figures are for 100% of the field, not just for EOG's 30%. GP

I haven't seen much comment about the recently published NSTA November production data for Wressle, so here goes. After about a two and a half month hiatus for the installation of the electrical submersible pump, it seems to show that we produced about 458 barrels of oil, 182,500 cubic ft. of gas and 107 barrels of water per day in November. If you do a bit more arithmetic it shows that November's water cut was 18.9% and the gas oil ratio was 398 cu. feet per barrel. A comparison with the part month of August is quite interesting as the comparable figures were 241 barrels of oil, 111,000 cubic ft. of gas and only19 barrels of water per day. So the water cut has risen from 7.3% in August to 18.9% in November, while the GOR has fallen from 461 to 398 cu. ft per barrel. Any thoughts please?

Maybe it's because I'm fairly sensible Heid. Over and out for now!

I like what UJO are attempting to do in Oklahoma as it's in an area with a fairly high success rate and reasonable production rates. They'll also be drilling prospects defined by 3D seismic data, which is presumably why UJO and Reach (who are experienced in Oklahoma) give the Andrews-1 well a 75% chance of success. Speaking as a former geologist, a potential issue might be the production decline rate, but this isn't such a big concern with such a short pay back time.

Heid. You said "GreyPanther I am suspicious of you from one of George's comments to me about you". It would be a lot more useful - to me anyway - you could say what that was. If you disagree with something I've posted, and why, that's another matter. But unsubstantiated gossip is another matter, so do please say more, as I still don't know your friend George. Thanks

Heid. Your recent silence was much too short. However, not many people on this board are interested in your little tantrums, nor in your tactics like meaningless voting. May I suggest that, if you've now fallen out with David Bramhill, and out of love with UJO, that you sell your shares and move on. Presumably this is what you previously did at UKOGL, and maybe at Reabold too once your beloved KS didn't gain enough votes at the EGM to get control.