Member Info for itsawrap

Moniman, the chuckle brothers are either

a) terrible negotiators and gave LNe the deal of the century

...or

b) they always had one eye on the next requisition and structured the deal accordingly

...imo the latter explanation is most likely

According to the reabold-requisition website, 478m RBD shares were transferred* to LNe directors by 23/06, that leaves about 800m with LNe (*Reabold shareholder registry)

...a fantastic deal for LNenergy who now own 12.5% of RBDs shares (allegedly transferred to the LNenergy Directors), it/they will share in the success (or failure) of WN without contributing a single penny of capex. Plus of course if Colle Santo doesnt happen or fails to deliver as promised, it/they still own 1/8 of Reabold...winner, winner chicken dinner

Yourgene accounts now available

https://find-and-update.company-information.service.gov.uk/company/11802764/filing-history

These 2 as well - I assume they're ours too?

https://find-and-update.company-information.service.gov.uk/company/03971582/filing-history

https://find-and-update.company-information.service.gov.uk/company/08436676/filing-history

The 'Operational Update' RNS was released Tuesday 17th jan last year, tomorrow perhaps?

I would like to know where we are wrt to Keddington and Biscathorpe.

Several updates pending

https://find-and-update.company-information.service.gov.uk/company/11802764/filing-history

NSTA data is released on the 1st every month, 2 months in arrears - oil, gas & water

Paul, this is what Rathlin said on 29.08.23

Plans for the proposed horizontal well from the West Newton B site are underway. Well path selection and the engineered well design have been completed. Wellbore casing has been purchased and Rathlin Energy (UK) Limited has approached drilling rig and other key rig service contractors to determine their availability. Commencement of operations are targeted for first half of 2024 subject to approval of the pending Environment Agency permit for West Newton B and rig availability.

This is what I posted on advn in response to the scaremongering...

UJO's Wressle field had the same teething problems - initial production was a huge disappointment but a successful proppant squeeze led to sustained production of over 750bpd, significantly above the expected 500bpd

PS Wressle is the second highest producing onshore well after Wytch Farm

..she's doing the AIM walk of shame

JD if they secure the permits they may be able to farm-out or may even consider issueing Royalties but debt finance seems unlikely until or unless the get the green light

Does anyone know where they are regarding restarting production at Avington? no update since July as far as I can see, thx.

...perhaps alongside UJO's 'operational update' which was released on 17/01 last year

Just a thought re CS. If LNe manages to obtain all the permits they need to raise Euro30m, perhaps issue Royalty contracts?

LNe or LNe directors hold about 1.3 billion RBD shares - no mention of a lock in period for these shares, that's a very large potential over-hang. Do shareholders have the right to know? I suppose I could ask the chuckle bros. but I doubt they would reply.

Moniman, everyone will have a different opinion as to value, the one absolute is based on RBDs last purchase of LNe shares, they value LNe at about £16m/£17m which in my opinion is scandalous. The only assets they have are the option, some cash from issueing shares to RBD and RBD shares. If they dont get the required permissions or they cant raise the Euro 30m, RBDs investment will have little value. However it was alleged that all the RBD shares (12.5% of RBD) have been transferred from LNe to the Directors. So, if CS doesn't happen, LNe will have a worthless option, some cash and possibly no RBD shares...Reabold will own 26% of sweet fa

I think we could have a very good H1 - operational update next week, updated production data for Wressle soon, Penystone application this month, Bacon sizzle in the next month or so, Kedd drill underway H1, hopefully WN underway in H1 and Bisc in H1 or H2

Btw the E.11m-12m pa is complete nonsense.

the gas price has been well below the Euro45 used for the calculation for 8 out of the last 9 months. current price Euro 31

plus it's reasonable to assume that only 90% of the E.11m/12m will belong to LNenergy

A masterclass in smoke & mirrors yet 5.6 billion shares voted for these clowns

JD, the Reabold presentation says this:

- LNEnergy will seek to secure €30m in debt financing to fund exercise of option to purchase Colle Santo gas field and development capex to achieve first gas

- €66m estimated total capex with €16m capex to first gas; project to then be self-financing

my conclusion from these 2 statements is that it will cost Euro 14m to exercise the option