Member Info for IAmNotAnAnalyst

Here's some data on overpromising and underdelivering - Victory gas CPR, due April 2021 - late.
From an old message from me "from aQ1 test start (from the fundraise RNS on the 28th Jan - only 2 months ago) to now needing further logging and profiling and a draft EA permit only not final. Compared to Jan this recent RNS is not only a delay but also adding in further steps befor EWT".

There's more evidence supporting my position in my post history, but clearly you don't care about that.

Here's one from you to contrast "shlt loads of oil and gas have been proven to be present at West Newton, and gas AND oil have been proven to flow" please let me know where the data is proving gas and oil flows. I'm not saying it won't flow or hasn't for very short periods, but in any way significant flows have not been logged. Ergo there has not yet been a proper test.

My mistake - I mixed up the RNS'. I still have very little faith the EWT tests will yield results before the end of May.

SMcN - please let me know what nonsense I post. To think that all who have invested in RBD must be immensely impressed with performance over the last few years seems absurd to me. Considering how the company describes itself they have been incredibly slow to realise the vision, moved the goalposts and in my opinion have been very economical with the truth in RNS'. I'm sorry you don't agree but not everyone who disagrees with you is a troll. I am a real person and no paid to be here...I'm happy to take contributions though and continue to post what I think.

Potentially negative because it included tacit confirmation of a delay. The UJO update confirmed the data was still being analysed in Romania and therefore the permit hasn't been finalised, therefore EWT cannot yet start.

If anything there are many here who want to temper expectations from the 6-10p, mutibag moon crew. Nothing solid and value wise is proven at WN yet and it is the key asset in the portfolio for RBD making up much greater than 50% of MC.

SMcN that's correct that the additional data gathering would inform the EWT which was approved in draft form. However, your assertion that it is a box ticking exercise depends entirely on the data gathering and therefore what changes if any of the EWT plan are required.

Presumably this is all about the projected production rates and split between oil and gas and the license/need for incineration.

EWT should have started about 18 months ago. However, it is close now but May could still be optimistic. If data gathering was complete end of April then the analysis is required which could take weeks. This is followed by an modifications to the permit and re-approval from the EA if necessary. It could take till June for the EWT to start. In the whole scheme of things it's not a big deal when, considering where we are, it's just always good to add a month or two (at least) on to RBD projections.

Last mention was 30th March RNS. "Draft Environment Agency permit received ... for EWT at WNB-1Z and WNB [a future well]".

WNA already has a permit in place.

Is Boris with the boxing bag before or after he's been hiding in the toilets?

What precedent is there for any company being taken out on a 14x multiple of the share prices through a hostile takeover. You're living in Dreamland.

If it was worth 6-10p with the data already generated from the drills and tests at this moment then surely it would be massively cheaper just to do a hostile takeover of RBD rather than pay 10x the value of the company.

If

WN is far from a proven success. What production rate could it achieve? Nobody knows the answer to that, so CAPEX is not know and projected revenue is not known. Therefore, the asset is by no means proven.

That was meant to read "from the last RNS".

Very true - I was wondering if I'd missed a thing frlmtgelastRNS by not 'reading between the lines'.

Was the April 2021 date given for the Victory gas discovery CPR missed? I know there was a material event with the Corallian share offer but that shouldn't have impacted the planned CPR.

You could have said that at any time over the last 18 months.

Do you have a source for the 2x consumption figure?

You have missed the boat

I think this assessment puts things a bit out of proportion.

Although domestic consumption has risen slightly meaning an increase in power use this will be a marginal change on what is already a small % of total power use. Albeit it is a larger amount of energy I can't see if changing markets. I think you can actually look at power usage on the grid over day/month/year on the national grid as well as see the different contributors (including interconnectors). I'll try to dig out the link.

I think gas is a larger market than the UK alone, if anything demand may have increased due to businesses ramping up ready for a consumption boom (hoped/forecasted or just wished really hard for!)

If on average individuals bought £1,500 each that makes 726 people. For some reason I was expecting more. Oh well!

I wonder why they didn't offer more than 40%. Surely the money was there for taking more at the 1.55 price and more money = less debt?