Member Info for Harryshang

My question for what it’s worth.

Good Evening,

Given the current timeline for an AIM IPO ( 3-4 months) and the relevant non- prohibitive costs. And, given the enhanced volumetrics/EWT’s.

What are the merits of a Rathlin IPO to provide funds for full & comprehensive development of West Newton?

Personally, while you have the endorsement of Capital Markets, the “ perpetual Placing” and consequent volatility of the shareprice is not why I invested here some 3 years ago.

Harry

Oil inventories in the US and China continue to drop. COVID cases are dropping precipitously. Vaccines are being distributed. Demand is back.

Meanwhile, world leaders are making oil drilling nearly impossible due to environmental concerns. This means supply is limited in a rising demand scenario.

The result according to Goldman Sachs, is the beginning of a new secular bull market in oil. For the next 12-15 years, oil will be priced at over $100 a barrel.

Copied from a Yahoo MS-compliments to Jason.

Let’s develop WN.

Harry

Many thanks to AJamesW for an articulate interpretation.

Importantly, one may also take a strong inference from the RNS that would be suitors are advised only substantive offers will be entertained.

Harry

An RTO into EOG will not achieve the substantial funds required by WN, rather it will achieve perpetuation of Placings.

Substantial funds will be achieved via an IPO of Rathlin subject, of course, to meritorious increase in Volumetrics and proven flow rates.

RBD do not need further projects, they need to prove their business model with a profitable exit.

Harry

Rubey,

Would you please explain the advantages of a RTO, more explicitly, how the same would provide the funds for full development of WN.

My take has always been that an IPO of Rathlin, subject to increased volumetrics and flow rates would create a scramble among underwriters.

Of course, the above may well be moot should S&S ( some imminent guidance would not be unwelcome) deem a farm out more pertinent.

Harry

I agree as previously endorsed.

The tenor of the recent BRR Media statements of S&S leads to a reasonable inference that they are keen to develop and produce.
Why would they seek to divest

“... an offshore sized asset onshore...”

Will be interesting to see the latest volume metrics and flow rates whereupon a valuation on such IPO may be ascertained.

Harry

and timelines would be helpful from S&S.

They have a duty of care to individual shareholders in addition to II’s.

When will latest volumetrics on WN be advised?When will EWT’s be commissioned on A and B wells?

Intention on sale or further development, if no sale, what provisions for finance- partial farm-out, further Placing?

Report on California.

Report on Romania.

Report on the recent further payment to Coralian and accruals of such.

Harry

CP,
In my opinion, the market is skewed by an II seller/s: Hambro/ Humber.

An unfortunate raisin d’etre, S&S have relied almost solely on Placings and acquisition by shares. California is a disappointment, Romania, which was Stephen’s pet is yet to bear fruit. Corallian, who knows?

I did not invest over 2 years ago to be in a position where West Newton must succeed.

Notwithstanding, I remain and hold confidence in a strong commercial value from WN.

Harry

We’re apprised of the discovery in KA: discovery in the Cadeby?

Harry

Evening SB,

Recently applied nematodes to the lawn.

School anaesthetist was always very jolly.

Hope you don’t become snowed in on the A66.

Harry

CP,

Yes. All is well in Oxfordshire-I guess we’re lucky here.

Yes. We know sidetracks are also better for flow rates.

MM’s seem to be playing a blinder here, an S&S/DB interview would be helpful.

Harry

CP,

Good to see you on board, helpful to have an experienced voice of objectivity.

Harry

S&S and DB need to show face and comprehensively outline the foreword plan with timelines.

Harry

Mr. Investment,

A canny metaphor.

Personally, always found the 6’s exactly as you say.

Sound like great company in the West End.

Harry

Good Evening SB,

Hope all is well in Preston.

The update from Rathlin today should be read in precedence to the ambiguous RNS’s from either RBD or UJO. Importantly, it offers a timeline and corroborates your statement.

Three weeks ... objective of the WNB-1Z side-track well is to evaluate the Kirkham Abbey formation in a structurally superior location, on-trend with the previously discovered Kirkham Abbey accumulation.

Harry

What’s the colour of the boathouse at Hyde Park?

Harry

An excerpt from ADX quarterly report is encouraging.
“The IM 1 well was acidised and back flowed on the 10th and 11th of September 2020 with the assistance of nitrogen injected to the bottom of well using coiled tubing.
Liquids recovered from the well consisted of well completion brine, acidization fluid that was pumped into the reservoir, minor amounts of reservoir fluids and a yet to be analysed sludge like material most likely consisting of fine reservoir solids and precipitation materials formed by the reaction of acid with the reservoir.
Gas flow was observed at surface 12 hours after back flow with nitrogen on the morning of 12th of September. The gas was a combination of methane gas and nitrogen. A number of well blow downs of the well were undertaken over a period of 24 hours. Build-up of pressure at the well head was substantially faster than pre acidization indicating permeability improvement from acidizing. The pressure build up to near reservoir pressure indicated well inflow is predominantly gas. Gas samples taken conformed excellent gas quality.
A proposal has also been received for an acid frac with view to achieve further permeability improvements. The acid frac proposal will be assessed in conjunction with remapping of reprocessed Iecea Mare 3D seismic.
Harry

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Is Stephen a 1.9 metre boy or is Sachin a shorthouse?

Good to see the guys venturing north of Watford Gap.

Harry

Exploration,

Appreciated.

I remember throughout the drill in Romania, there was much talk of extreme pressures which no doubt led to extreme densities of mud being utilised. In addition, we know the well was effectively abandoned owing to Covid 19 restrictions thereby exacerbating and probably adding to congestion.

In short, in my opinion, ADX made a “pigs ear” of the drill.

Harry

“managed pressure drilling” ought to be relayed to ADX.

Harry