Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Several updates pending
https://find-and-update.company-information.service.gov.uk/company/11802764/filing-history
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
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
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
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.