Member Info for itsawrap

Kawasaki, my guess is $18m revenue milestone about the 15th of this month, possibly sooner

Morning uggy, as the saying goes, "You can't polish a turd" ...but you can roll it in glitter...

it's Christmas, so I'm sure the Chuckle Bros. have been stocking up on glitter

From last night, Wressle included but nothing new

https://www.europaoil.com/wp-content/uploads/2023/11/Proactive-Presentation-301123-FINAL.pdf

Heid have you considered the possibilty that the Chuckle Bros. may exercise option 2 to increase their stake in Colle Santo?

if they do (before 31.12) they could issue 1.2 billion news shares to LNenergy who would surely be inclined to vote in their favour therefore ensuring they remain in control.

Clearly MA buys his rose-tinted-glasses from the same place as DB

If WN isnt drilled, we save over £2m capex - win/win ?

Reabold Interims - The drilling and testing of the WN B-2 well is planned to be completed by June 2024, in-line with the time limits set by the North Sea Transition Authority (“NSTA”).

Heid whatever happens with KS/RBD/Rathlin, West Newton is running out of time. Even if the Shell money is forthcoming, Rathlin has to book a rig and drill in 7 months, does anyone still believe that it's possible by June???

UJO Finals 15.05.23 - Subject to finalising the sub-surface location, it is planned to drill the well, where planning is already granted, in late 2023.

UJO Interims 11.09.23 - The procurement of the rig, materials and services is progressing and the drilling of a side-track well is expected to take place at the earliest opportunity.

So "late 2023" became "the earliest opportunity".... how about a progress report DB?

Https://www.gov.uk/government/publications/victory-field-development#full-publication-update-history

no mention of 1st Dec as far as I can see

Https://www.nstauthority.co.uk/news-publications/north-sea-industry-continues-to-show-resilience-as-key-figures-meet-to-discuss-its-future/

latest update from nsta but no mention of Victory. as far as I know 1st December is an arbitrary date so I'm not expecting cash this week. RBD has not stated when the we may receive £5.1m - deliberately vaue imo. of course Shell may just transfer Victory back to Corallian in which case RBD shareholders are screwed - I expect an RNS on Monday

With Heyco in charge it seems we are seeing change albeit slowly. we have a (provisional) time-line of 31.01.24 for submitting the Wressle planning applications - something MA has faffed around with for ages. Expecting a result from NLC by 30.04.24 is very optimistic but may happen if Egdon submit by 31.01.24. What's missing from the consultation is any time-lines for the actual work but at least it has nice photos of a bee-keeper, a vegetable garden and a wind turbine, that should convince the locals!

PS I assume the farmer has agreed to lease the additional land?

GP, I have been invested in small oilers for 5 years, it's been an (expensive) education!

these companies are experts in spin, smoke & mirrors and broken promises, they make politicians look honest...

"Nominee accounts always go with the company"

I have 2 nominee accounts, if I want to cast my votes I simply instruct my broker/bank accordingly

It's my understanding that the broker/bank only casts votes for nominee shares based on instructions - does anyone know for sure?

Latest from Egdon was 950bpd for 6 hours which we all know is just corporate posturing. imo the number is probably sustained production in the 700-800bpd range. Say 700bpd, poo $80, probably $65 net opex, so 210bpd @ $65 is at least $5m net revenue with an mcap sub £10m and about £5m cash, definitely good value :)

it feels like good value at 1p, new production data for wressle imminent, probably followed by the updated cpr. heyco/egdon have plans to drill 2 more producing wells plus the mythical 600m pipeline, obviously subject to permits (and assuming they get off their ****s and actually submit the applications), also subject to expanding the site. wressle is lucrative and does more than keep the lights on, europa already has a cash pile which will continue to build as long as they dont invest in any vanity projects.

..if by some Christmas miracle we receive the £9m in the next few days the sp will be back to .30p maybe even .40p by Christmas, however many investors will cash in having bought in the .08-.015 range so expect a lot of volatility - all imo of course

Https://www.reaboldrequisition.com/wp-content/uploads/Reabold-Resources-Requisition-Notice-15-November.pdf

posted today

Heid if KS is successful, is he relying on the Shell cash or will he and his colleagues bring cash to the table?

Uggy RBD has an option to buy more LNe shares, it's not a firm obligation. if it's not exercised by 31.12 I'm guessing that LNe & RBD will extend it

Option 2 is a little scary, £1.8m now £1.65m, expiry 31.12 previously 30.11 which I pointed out was very strange as it didn't correspond with permission "this year", sure enough they extended it which means it's highly likely they will extend it again imo.

An option that gives LNe the choice of settlement in cash or RBD shares is bizarre, worst case, well over 1 billion new shares, so yes, issuing new shares to LNe in order to secure their CEO-ship seems very plausible.