Member Info for itsawrap

With thanks to Lee for posting the links, very good news for the JV

https://www.gov.uk/government/publications/hu11-5da-rathlin-energy-uk-limited-environmental-permit-issued-eprbb3001ftv005

https://consult.environment-agency.gov.uk/psc/hu11-5da-rathlin-energy-uk-limited/

With thanks to Lee for posting the links, very good news for the JV

https://www.gov.uk/government/publications/hu11-5da-rathlin-energy-uk-limited-environmental-permit-issued-eprbb3001ftv005

https://consult.environment-agency.gov.uk/psc/hu11-5da-rathlin-energy-uk-limited/

The issue with the CPR is that water appeared at an unspecified point in July so Egdon asked for it to be updated - the question is, how long will ERCE want to monitor the waste water flow before committing to new conclusions? my guess is 2 or 3 months, so sometime in October?

Started flowing nicely in August 2021 - what has Egdon done onsite in that time?

new bund and separator, 3 x C65's and re-tarmaced the road

no matter how you spin it, that's not very impressive imo

- let's see what Heyco can do in the next 2 years

The Joint operation between Rathlin, Reabold and Union Jack have a commitment to drill and test a new Kirkham Abbey deviated or horizontal appraisal well by June 2024. The company estimates it's 16.67% share of costs to be c.£1.4 million for drilling a new well and £0.6 million for testing the well. - RBD 2022 Accounts

Heid I think that's very likely as UJO will receive £765k for their EDR shares in Q4 so we may see a divi of circa 0.5p

EDR "Cumulative production from the Wressle-1 well totalled 492,876 barrels of oil through to the end of July 2023"

this means Wressle hit 500'000 barrels in the last few days - not a word from the JV - why no PR?

In the last few days Wressle hit a major milestone - 500'000 barrels of oil - not a word from Egdon, Europa or UJO

Why ignore a golden opportunity for great PR???

"The definition of an idiot is doing the same thing over and over again and still expecting a different result!"

...that reminds me of the way I play golf :-(

Https://www.bmj.com/content/382/bmj.p1885 - published yesterday

Why don’t you google the difference between a “statement” and a "question" and learn something….. and in future, do this simple operation before you post to avoid looking like an uneducated fool :-)

What a pompous ass

there's no need to be an **** funstar, are you saying that it's not possible to clean up the gas on site?

Funstar, is it feasible for Wressle to have a processor on site to clean the gas?

What I find scary about the sp is that if RBD decides to exercise the 2nd option to increase LNe to 25%, LNe has the option of taking cash or shares. Theoretically the £1.8m price could result in RBD issuing over 1.6 billion shares, perhaps even 1.8 billion the way the sp is falling.

The option expires 30.11.23, RBDs payment from Shell is due early December with a minimum of £5.2m, so if RBD exercises at the last minute LNe will surely opt for shares knowing an RNS announcing the Shell payment will give the sp a major boost (I hope!).

...immaculate but incomplete, no GTW, no GTG

"Water that was anticipated hence the site prepared to deal with it. "

..that's true to a point, yes they have a serious separator and one assumes they are disposing of it in the same way as Kedd, but there are totally unprepared in the sense that the do not have GTW or GTG in place (other than on-site) which means production will FALL. This is a MAJOR failing imo - this is what Egdon said 16 months ago...

Egdon RNS 26.04.22

The likely preferred gas monetisation approach will be to export the gas via a short pipeline (approximately 600m) into the local gas distribution network. This will require regulatory consents (Planning and EA) and it is hoped to be completed in time for gas sales during the coming winter.

Afternoon heid, the Heyco takeover of Egdon is a godsend for UJO, without it events would progress at a snail's pace, Heyco will surely expedite Kedd this year (and Bisc next year if granted). meanwhile they have to apply for planning for a drill from the Wressle pad plus of course the pipeline. UJOs oil production is going to fall before it increases unfortunately.

...taking place today. ELEP hoping to raise $8m in the $4-$5 range. UJO valuation as at year-end $2.25 per share for 56'650 shares. I have had a look at their 31.03.23 balance sheet, no way would I participate but the US is a very different market so perhaps it will be successful

Micky it is tricky for DB, if he has any say in matters I would like him to put pressure on EDR to issue a Keddington update which we are assured in on schedule for H2 (source: heid's emails from MA). If it's on schedule, why not tell us what has been achieved to date and what's next? it would be good PR. meanwhile Wressle has now passed the 500'000 barrels landmark but not a peep from EDR or UJO, why are these industry "professionals" so foolish that they miss a golden opportunity to big-up Wressle???