Member Info for itsawrap

Https://www.reaboldrequisition.com/wp-content/uploads/New-Colle-Santo-V2-14-12-23.pdf

Moniman my understanding is that the previous scheme required a 21k gas pipeline whereas the current scheme is for on-site LNG transported by tankers. for details of the previous scheme visit https://va.mite.gov.it/it-IT and search "bomba" in the left hand search box

Here's a link to the company that holds 20% of Block EG-08 alongside Antler's 80% - no mention of Antler on the website

https://gepetrol-oil.com/actividad/exploracion/

CS is a strange decision - if they hadn't invested they would have more than enough cash to bail out Rathlin. They must have known spending on CS would leave them a couple of million short. Perhaps Rathlin is close to a farm-out but I doubt it so the only conclusion I have is that RBD wanted the LNenergy votes in the bag...

Kawasaki, I guess Bramhill is watching and waiting for the Reabold vote and wondering what it means for WN. the requisitioners have claimed they have investors queuing up to fund WN yet none of them have done a deal to farm-in with Rathlin. RBD dont have all the £6m that Rathlin needs so it's hard to see how WN progresses unless there's a 3rd party farm-in.

Solid buying since 9am yet no uptick...odd

...not sure about the date but it's rumoured to be taking place in Greggs in Ilfracombe high street

Also, the Requisition team said they have investors lined up to fund West Newton. If that's true, why haven't any of theses eager investors agreed a farm-in with Rathlin?

RBD has about £7m cash, win or lose the vote they will still have £7m cash on Thursday. It's not enough to fund their 1/6 AND lend Rathlin £6m but the company is solvent. Hopefully Rathlin will agree a 3rd party farm-in or RBD will obtain a loan facility secured on the future payment from Shell. So yes, the company will still exist.

Fyi, I recently emailed Beacon - here is the reply

Thank you for your email, which we are responding to in our capacity as IR/PR for Beacon Energy.

Firstly, apologies for the delay in responding.

The field produces only very small volumes of gas (associated with the oil production) which are utilised for heating at the facility. They do not routinely flare at site apart from when required. The volume of gas does not justify any gas sales. Water production is also very low. As part of development drilling, it is likely that one or two wells will be drilled as water injectors to maintain reservoir pressure. Timing and number of water injector wells will be determined as part of the updated field development plan.

" the fraudsters in the Post Masters scandal" what fraudsters? the crux of the scandal is that there was no fraud

'...the SCHB 2(2.) well could achieve production in the region of 900 bopd. At those flow rates, the Company would expect to deliver operating cash flows in the order of US$1.5 million per month (assuming $80/bbl Brent).'

if I understand this statement correctly, 900bpd delivering $1.5m net means opex of about $26 per barrel. 2 years ago UJO said opex for Wressle was $8/$9 per barrel, quite a different even allowing for inflation

Speculation that the general election will be May 2nd alongside the local elections - if Labour wins a majority, it will be interesting to see if they seek a settlement before 10.06 or if they let the court case play out

Https://www.lse.co.uk/rns/UJO/wressle-operations-update-6eruvop3z9rc91k.html

fyi - this is the UJO rns from July 2021 commenting on the proppant squeeze and the coiled tubing operation to complete the clean up at Wressle, all highly successful. Hopefully BCE can duplicate that success.

Egdon had the same issue at Wressle in 2021 - they used a 'proppant squeeze' to solve the issue, it worked extremely well. Sand is often used but they used ceramic beads at Wressle.

Https://www.energyvoice.com/oilandgas/north-sea/544478/war-of-words-continues-as-reabold-approaches-shareholder-vote/

2023 oil revenue about $6m plus £306k from EDR shares and maybe £100k from Royalty, over £5m in total and no debt. Good progress at Wressle and a good year financially yet sp down 26.4% this year (allowing for 0.3p divi)...so what is it that the market doesn't like about ujo???

..also Egdon said they will submit the planning application for the additional wells and the 600m pipeline in January - let's see if they can stick to a time-line with Heyco in charge. Best case scenario imo is approval late Q2

Hopefully the sp will be on the up next month as the 19th Dec. RNS said:

- It is expected that it will be a few weeks before the well stabilises and an optimised production rate is achieved.

- The updated Competent Person's Report for Wressle is now being finalised and will be released in early January 2024.

Malcy is a paid lacky, of course he will say that. imo the sp will rebound strongly if the requisition succeeds...Viva la revolucion!