Member Info for itsawrap

Hopefully WN will be drilled in H2 as promised, with a very low average I will top slice as the sp rises into the drill program, keeping a small position in case WN is a major success. I have burnt my fingers too often on oilers including rbd, it would be nice to make some money for a change. uggy I agree with your assessment, I was being polite :)

JB, with Heyco at the wheel JV assets such as Keddington, Penystone, Broughton North & Biscathorpe may all come into play in the next 2 years. get the buybacks up to 10m shares or more, throw in a new revenue stream (or two) and an sp of 50/60/70p, DB then has an opportunity to spin off the treasury shares for a serious profit - no hurry imo

I'm not a fan of the duo, like all the small oilers they play fast and loose with timelines etc and they dont come across as trustworthy...however, at the current sp I see rbd as quite investable, high risk but potentially very high reward, not one for the feint hearted!

Assuming the current gas to oil ratio is similar to the nsta data for March, they dont appear to have a lot of room to increase production unless they are burning more gas in the C65s - I think others are right in that the $15m rns was issued a little late hence the 35 days may actually be about 42 days

Thanks everyone, I guess the answer does lie with the $14m & $15m rns's, anyway, I'll leave it alone now as whatever the timeline $16m net revenue is simply fantastic. end of July for $17m ?

Hi pboo, I think I'm right in saying that under UK GAAP treasury shares are not 'liquid investments' - however that £2.3m would include Egdon shares of £765k and the Elephant Oil shares of £93k which begs the question - what makes up the remaining £1.442m ?

Cant argue with that, it's definitely good news for Europa. I hope Heyco expedites the gas engine or ideally the 600m pipeline at Wressle, once we have GTG we could/should see a significant increase in production, plus of course revenue for the gas

Guys, the RNS is crystal clear, $16m net revenue from Wressle. It's nothing to do with the Royalties or the exchange rate. I'm not questioning the cash position, I am questioning how $1m net Wressle revenue came about in only 35 days when production is 780bpd and poo has average about $75.

40% gross revenue is only $819k (780 x $75 x 35 x 40%), how can UJO have possibly received $1m for this period?

$15m rns 10.05 - $16m rns today - that's only 35 days

assuming poo of about $75 or $67 net of opex and 780bpd that's $732k

can anyone explain how UJO has net revenue of $1m in 35 days?

Tony, too soon imo, the data suggests UJO's $16m should have been reached in about 2 weeks time not after 35 days - it's great news but I cant make sense of the numbers. perhaps they needed more power on site for some reason meaning more gas could flow through the C65s therefore increasing production. assuming poo is relatively constant and 780bpd, UJO should hit $17m around the 20th July ie in 35 days, we shall see

Great news!!!

UJO rns this morning announcing $16m milestone for their 40% of Wressle, therefore EOG has received $12m

Excellent RNS...cash includes the sale of the Royalty and $1m revenue less than the monies spent on 2,150,000 shares, so the Royalty sale value may be very good

Hi Jack, having looked at the numbers again, the 9th May rns is correct stating 25% ownership if all options are exercised.

LNE started the year with 1000 shares, +32 +36 +127 new shares = 1195 plus the filing of 07.06.23 which states 17 new shares (not sure what these are), grand total = 1212

so if rbd exercises the options we will have 32+36+127+108 = 303 ergo exactly 25% of the 1212 shares

Thanks for the link - a 1.5p Q3 divi is a nice surprise

According to LNenergy's last filing on 13.06.23, there are 4 shareholders, i.e., 3 directors and James Stafford - could this be the same JS who owns oilprice.com ?

Https://find-and-update.company-information.service.gov.uk/company/13650179

'First accounts made up to 30 September 2022 due by 29 June 2023' - obviously their dealings with RBD wont be reflected in their 30.09.22 accounts, but we may get a better idea of what they are about

I'm sure the Chuckle Bros. are already planning a series of jollies to Abruzzo to check on progress...where next, an investment in the Seychelles or the Bahamas perhaps?

As I see it they have bought 13.2% of LNenergy for £500k cash and 810m new Rbd shares. by assigning a "value" of 0.185p, I guess that the LNenergy shareholders dont incur CGT until the sp exceeds 0.185p, so about 30% upside tax free. if this just an accounting trick to sweeten the deal?

also, the RNS says RBD owns 3.1% add in the 13.2% so "As a result, Reabold will own a 16.2% equity interest in LNEnergy." well in my world 3.1% +13.2% = 16.3% NOT 16.2%

Https://find-and-update.company-information.service.gov.uk/company/13650179

can anyone confirm that this is the company we are dealing with? (precious little public info filed with companies house)

UJO spent about £506k on their 1/6 in 2022

Rathlin had £5.27m cash as at 31.12.21 less £506k x 4 for 2022 which leaves an absolute maximum of £3m as at 31.12.22

They have a massive problem funding the drill program. I wouldn't be surprised if they are trying to sell 3/6ths of WN