Member Info for IAmNotAnAnalyst

My guess is decommissioning risk as well as relatively high production costs (considering OPEX and planned CAPEX)...aside from that I can't see why the price is where it is considering the cash in the bank.

In fairness to HUR regarding point 3, when there was a photo posted of the flare and various discussion they did release an RNS the next morning, which was the next available opportunity.

I'm inclined to think it's the 'reasonable conslusion' given. I don't think it's necessary to add on a nefarious actor with nefarious motivations (presumably). Unfortunately, only time will tell. Hopefully Jan will be a massive step in that direction and we only need to see plausible production ramp up plans and we're away.

My worry is HUR's caution in not wanting to open the taps and believe in the model more (as in by taking more risk). I'm hopeful the time will come when the appetite for more risk will be there, I accept it's probably not appropriate yet.

I must have been thinking that the flare was spotted last time then there was an RNS confirming the flare and a few days later the DST was finished and RNDed. It makes sense the first flare would be at the start of the DST.

Also, isn't a flare usually spotted prior to the well test?

Thanks DC, it looks like I had down the values for Lincoln Crestal rather than Warwick West. My mistake!
That one's timeline was:
Spudded 12th July
Flare 8th September - 58 days
Completed (test results RNSed) 12th September - 62 days

We're on day 41 for WW.

Warwick West is 1,780m deep including 720m horizontal.
That matches with SotB's cryptic post a few weeks back (haven't checked when exactly).
I'm expecting early indications to seep out this week coming!

And that 2 weeks remaining is including 8 weeks of contingency, which we've now used 6 weeks of.
Hopefully we'll get something before mid-Nov otherwise the credibility which has been built up in the last 6 months will be severely degraded.

I feel that Falkon. It's starting to make me think this is just the value of the company, it's been quite consistent since relisting...

Unfortunately that's not quite a big enough purchase to move the needle. 10-50m shares traded a day and we're sat at 0.9p still.

I should say I agree with Canetois, in that I appreciate WW's contributions also. I'm way down the list of people offering contributions of any value. For some reason it bothered me! I'm glad to hear your both have a beer together give the chance, I'd like to join too!

Give it a rest WW! ADUK clearly has loads of experience in the oil world...he's not saying he knows everything under the sun. He gives insight in this board that few others can offer, and I for one appreciate that.

How many experts do you think are out there who have plentiful experience in drilling fractured basements? Not very many would be my guess, so why set the bar so high for anyone here to comment?

That does seem to be the case Albinio. Perhaps, as mentioned by other posters, they have taken up the offer and are just selling that chunk at anything above 9p for a little profit.

The number of shares in issue for RBD is the same for both the July and October RNSs at 4.06bn.
However, at July the RNS was to say the shares held dropped from 10.04% to 9.93% (403m shares).
At the October RNSs the number of shares held for Pridential goes from 9.93% to 0%.
For M&G however, the number of shares held goes from N/A to 6.45% (262m shares).

Therefore, somewhere along the way 141m shares are now owned by someone else, and whatever happened, happened on 21st October according to the RNSs.

Fyoz, so far the market says different! It's really taken the wind out of this share.
Still, it all needs to be approved first, I think we'll see more after the 28th. Hopefully some more WN and Parta information will be released, so we can go back to bei g excided about the development of the assets.

It seems to me the case was more about consultation for offshore drilling in UK waters, not specifically about any pending planning permission. The article does mention that the additional drilling could be undertaken from Wytch farm.

The government have committed to review the existing legislation and see what changes are required...

Genghis, good points.
I think 4 is the most important for me, even accounting for some parts being asparational. I.e you can't force a buyer to make an offer, but you can know when you'd be happy to sell.

I know it's meant as sarcasm but it is a bit cynical to say shares would plummet.

This is good news and the following through of the plan. There's a lot of impatience here, and I feel it too, but we know what the future vision is and presumably believe in it. We just have to wait to see it realised, or not as the case may be.
We've got plenty of news to come WW drill results in November and then Jan for the latest on well performance.

Indeed there was quite a lot of buying this morning around the open...so was something known last night? It's about time we had some news anyway!

If it was nailed on the placing wouldn't have been at 0.9p...that means there is still significant risk in bringing WN to production, and I'm with Rodster our eggs are now going to be much, much more in one basket. Parta will be secondary with our increased stake...but Cali, it's practically meaningless now, they should just get it sold and get the cash if they need it so much.