Member Info for IAmNotAnAnalyst

So we'll soon find out - relist tomorrow!

They've emailed me back now asking that I just start again. I just wanted to be sure they won't send the debt collectors round for 3 lots of the same share purchase!

It does seem a bit of a poorly implemented system, especially when considering you're trusting them with significant funds. Presumably they're earning their money by holding your cash and warning interest + a fee from the company?

I'm not having as much luck. I have my first try stuck at "payment failed" and my second at payment "pending" and I can't seem to do anything about either. Support have been responsive but 6 emails later I'm still no closer to resolution.

Yes El Ray, it is a little unclear how the price is set across the different offers.

Has anyone used this platform before? Interestingly it asks how many shares you already have, although that doesn't seem to be a condition of the offer.

Why would they need 18 months?

So we wait two weeks, assuming the CHLO and VSP surveys are complete, and then we will have processed and interpreted the data. This data will then help inform the completion, clean up and EWT. How long it takes to inform those actions and what impact it will have on their start dates, and if the EA permit needs modifying or redrafting we won't know. We need EWT results before anything of significant interest happens and yet we have no real idea if we will have them in 1 month or 4.

There may well be people here with ulterior motives...but so what, what a waste of time that would be. WN will get an EWT eventually no matter how negative or positive this message board is!

No matter how Persimmon's posts make you feel, they do make posts that show some insight into the goings on of RBD and the history of the company.

Rubey - I don't recognise what you say about RBD shareholders making more money - as far as I've experienced it, it's been pretty stagnant for a year or longer now (aside from the last few days). I wish I shared your blind confidence about making money in RBD but I live in hope.

Personally, I'd much rather they take persimmon's large dose of skepticism on board than follow blindly the ramping here - multibagger etc.

Claire - here is a completely unsubstantiated quote from you "I remember very well the ride to 1.40 which will be nothing compared to what is coming".

At least persimmon might make people think again about what is, as always, a risky investment. Making it sound like the success of WN is nailed on is just purely irresponsible.

Why do we need regular updates?! Surely just make the decision...

I appreciate the update but I can't fathom exactly what it means - are we well into the 120 days are close to starting it? Baffling.

PUTUP - I appreciate the explanation and am trying to get my head around the fundamental differences. Are you saying they are equivalent in a technical sense rather than as realised in reality? For example if the buyback happens when the share price is higher rather than another time then surely the outcome is worse. A dividend is of fixed value and there's no gambles based on the externalities of the market for GKP shares.

Personally, I'm a bit old school (I think this qualifies as such) and prefer a dividend. I believe that is one of only two ways of realising value in investments ultimately - either a dividend is paid or the company is purchased and you get your cash.

PUTUP - are you trying to say that a buyback is the same as paying a dividend of the same value?
If so then I would completely disagree, as they both have different impacts on the share supply/demand, tax implications and balance sheet. They may both be returns to shareholders but they aren't equal.

It seems then that you are better informed about timeline slippage than RBD. So I think we're agreed on the overpromise and underdeliver problem for the company, at least where timelines are concerned.

Obviously the logging is necessary. The problem I have is the seeming separation between logging completion, EA permit finalisation and actual EWT. If this work isn't actually part of the EWT which involves the well flowing then why wasn't it done before? It also increases the possibility of further delays. It just seems to be were making it really difficult for ourselves and I don't understand why.

"We always got there" - where exactly have we got to in the entire history of RBD?

The delay has not improved the asset one jot. I don't quite understand why you can't say anything negative about RBD.

Sorry for upsetting you Manwell - can you say your impression of the timeline so far and how happy you are with it?

The frustration was that we'd gone from a Q1 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.

I don't beg for updates - just realistic timelines and delivery on them. Not overpromise and underdeliver.

I'm not saying I disagree with you but I'd caution anyone interested in 'jumping in' to go back and read all the RNSs that reference the EWT. Then reflect on what kind of company this is on promises vs. reality.

Add to that Romania, Cali and Corallian and you realise that everything shared should be take with a massive spade of salt unless it's in cold hard numbers. Aside from that, all dates and timelines are suspect - I haven't calculated the accuracy rate but I'm more often frustrated than happy about on time delivery.

When does the EWT start Chris?

The profiling will tell us very little about how much the wells will flow.

Snaffle - don't forget how you felt hoodwinked about Romania. Until the EWT we have nothing nailed on at all here. Why they want to delay this endlessly is beyond me.

I don't see any action nor a long move higher. Are we inhabiting different realities?

There's one permit and one draft permit. Further, the additional surveys will inform completion, clean up and EWT operations. That means there are a fair few steps from now to EWT results.

Here's my guess at a timeline:
1. Do surveys - April
2. Plan EWT, clean up and completion - end April
3. Apply for final permit - May
4. EA issue permit - May/June
5. Clean up and completion - June/July
6. Run EWT

Dyor