Member Info for GreyPanther

I too was really pleased to hear about our 2 year extension in Ireland as it will push the licence term beyond the most likely general election date. However, wrt crushcutfluor's comment about UJO's RNS this morning that "DB doesn't have the best track record in US oil after his Nighthawk venture filed for bankruptcy in 2018" my recollection as a former Nighthawk shareholder is that Bramhill left Nighthawk some months before they filed for bankruptcy. But please say if that's not correct. Thanks, GP.

Our Wressle production has done pretty well lately, but I’m still very pleased to see us taking another small step abroad. Some UJO shareholders might feel that US based royalties are an unusual asset in which to invest. However, in support of the latest move, I’d say that we did very well financially from the earlier acquisition and last year’s sale of the Claymore royalty, and also that we have found a competent, reliable partner in Reach O&G and Miles Newman. From my personal experience I know that Miles has done very well for his UK investors in Reach. We also have an excellent operator in the USA in Jim McKenny, who clearly knows the game there. I also like the fact that this opening gambit should lead to other joint venture drilling opportunities in Oklahoma where drilling success ratios have been excellent lately.

One can only hope that no one is holding their breath for a "barn burning" result.

Whoops! I should have typed: the farmor might retain (say) only 25% or less.

Hello caeser. It's a reasonable question but IMO it's very difficult (maybe nearly impossible) to answer without knowing a lot more about the terms. For instance the farmor might retain (say) only or2 less5%, and has it genuinely increased the liklihood of drilling in the very near future and, perhaps most important, what's the most likely reserve size that will be found by the agreed / paid for drilling programme. And the SP may not react logically to a deal until some time after it's been announced, but perhaps only when the details of the discovery has been announced in some detail.

Gwynwin's "2500 million barrels of oil" at Wressle got me quite excited for a few seconds. That is, until I realised there was a missing decimal point between his figures 2 and 5. I agree with milnrowmug, though, in that what's going on at Reabold, Rathlin and West Newton is of distinct interest to UJO.

Hi wiltshireman. I'm not disparaging Wytch Farm, BP, nor even British Gas. The latter were the operator, not BP, when the deeper Sherwood reservoir was discovered. I'm merely disagreeing with poiu about their relative sizes. While we're on the subject of Wytch Farm, it wasn't fully developed until the 50% share of the field owned by British Gas was bought out by a group of five small British companies. I was the exploration manager for one of them in the 1980's. All this was many years ago, of course. What I'm saying is that after four wells the combined gas (and oil) resource at West Newton comes nowhere close to what has been discovered at Wytch Farm. And up to now, not one of West Newton's wells has produced at anything near a commercial rate

Trading in these shares has been fairly light over the last few days, and this surprises me slightly. Speaking only for myself, I quite like the look of RBD now as a (very) high risk investment . How do other punters feel about this with the current low 0.0925 SP, but a very high spread in the price?

I quite like the look of Reabold now as a (very) high risk investment but I think you'll find that it was Corallian who negotiated the sale of the Victory field, and not S&S at Reabold

"Has indeed the potential to match perhaps exceed Wytch Farm." Really poiu! If you knew how big Wytch Farm is, or was (over 1 Billion barrels of oil originally in place) that sounds somewhat over-optimistic to me.

Hi there VernetLes. I agree with you. What do you think a fair offer for 30% of PEDLs 180 & 182 would amount to? IMO it's got to be a bit less than our current market cap, which is only £9.6 million.

Heid. Enough of the cryptic comments. I don't think I know George, so who is he? And why would Bamhill contact KS before the EGM result was known? I'd be surprised if he did any such thing but, if you know what they said to each other, why not spill the beans. That's what you usually do.

Thanks Serif, that's very helpful. I reckon Wressle was down from mid August to the end of October, so probably there were only about 2.5 months of lost production in 2023.

It's highly unusual to find myself agreeing with Mr Swamp / Mrs Wamp's 18.26 posting yesterday.

I’m a bit concerned by part of today’s RNS: “.... the Company’s free cash flow (pre-capex) for 2023 is expected to be approximately £0.8 million. As of the 30 November 2023 the Company’s cash position was GB£4.26m, which alone is more than sufficient to cover the forecast capital requirements for 2024 without utilising any income generated during the year”.

Does this mean that the company was barely profitable in 2023, but we still have (just about) enough cash to pay our way. So is it really a profit warning? Luckily our year end isn’t until 31 July ’24. I reckon the 31 January interim results, which are normally released mid / late April, could show a better result than expected. That’s assuming the current 665bopd is maintained, or even improved.

I certainly don't have a crush on you Heid. It's quite the opposite. However, IMO it's about time you piped down after all the nonsense you've been spouting about Reabold and UJO. Who will votesthat Heid does just that, I wonder?

And there she blows!

She popped up again on the Reabold LSE board yesterday, I thought it was too good to last, so no doubt it won't be that long before she's infesting this one too.

I'm still wondering what will happen if Rathlin, as a private company, is not able to raise further cash to pay for their 66.67% share of an expensive horizontal well at West Newton. I'd lay odds that Reabold will have to bail Rathlin out again, so where will RBD find the cash required for 66.67% plus 16.665% (or 83.335%) of the horizontal well. Might there be a sudden change of plan at WN to something slightly less expensive?

Heid hasn't posted since12:27 on Weds 10th on the RBD board. This was shortly after their EGM. IMO it's an ill wind that blows no good!