Member Info for itsawrap

"Have you given any thought to what will happen to the share price if those shares are dumped back into the market."

pboo it may depend on the circumstances. If DB bought into a PEDL using shares then it's likely the seller wants cash to develop the PEDL so the shares will probably be sold in the short term. If DB were to sell a big slice of the treasury shares to an II it's more likely they will be held for the medium or long term. Scenario 2 sounds good to me although I do wonder if it's more wishful thinking than probable. Of course another scenario is Directors bonuses. There are probably other scenarios I haven't though of .

I think it's very odd that during a period when the C65s are apparently up and running and will facilitate an "up to 20%" increase in oil production that we haven't hit the next $1m after 43 days. Even with the drop in poo from the mid $80's it seems overdue - perhaps Monday???

UJO's accounts are straight forward so I would like to have a trading update in Jan/Feb each year. I dont understand why we should have to wait 4.5 months when a very complex company like Barclay's can issue their full accounts in 6 weeks...

tac, what are your thoughts on the elusive $14m RNS ? thx.

on a positive note, with fairly low trading volumes day after day, when sentiment rebounds (and it will, soon imo), the sp will surge - the low 20's is a great opportunity to buy in or top up a well financed company with a handful of PEDLs that could do very well - Penystone drill in 2024, WN drill possibly in H1 2023, Bisc drill in 2024 if we win the appeal, Keddington is anyone's guess - all in my opinion of course :)

How is throwing money at Wressle going to speed up the operator?

it's very encouraging to see EDR in good shape but they need another Wressle sized revenue stream in order to make some real progress with their 35 licences. Keddington is the obvious choice, what are they waiting for?

Days since the last $1m RNS = 42

re WN, RBD has published a 'New Corporate Presentation' this morning, it confirms next drill in H1

"No mention of current flow rates" - the clue is in the first line
"...is pleased to provide a summary trading update in relation to the six months period ending 31 January 2023"

"Positives are Biden will be filling the SPR"
https://oilprice.com/Latest-Energy-News/World-News/The-Biden-Administration-Is-In-No-Rush-To-Refill-The-SPR.html

the problem with trying to read the oil market is that there is always a contrarian view

there's nothing wrong with protesting (within the law) against something you think is wrong. I dont agree with their protest against UK O&G, I think their argument is fundamentally flawed, however be grateful there are people with the courage to protest otherwise big business and government would be out of control

EDR stated a 4 day shutdown in December so although the nsta data states 787.95bpd that's an average of about 905bpd over 27 days. associated gas was 272.18 tonnes = 10 tonnes per day for 27 days as per the limit
this is interesting because it suggests that the December oil/gas ratio allowed 900bpd
add in an "up to 20% increase" and the new production number could be as high as 1080bpd although I believe circa 950bpd is more likely

pboo is correct, it's official NSTA data - see website for month by month data

I disagree, there are plenty of clues in the RNSs and the NSTA data to allow a sensible estimate of the increased oil production courtesy of the C65's, my estimate is circa 950bpd

2 years this week since the share consolidation, $15m revenue from Wressle & Kedd yet the sp is 30% lower

North Kelsey appeal date set for 14 Jun 2023
hTTps://acp.planninginspectorate.gov.uk/ViewCase.aspx?CaseID=3304453&CoID=0
hTTps://acp.planninginspectorate.gov.uk/ViewCase.aspx?CaseID=3304454&CoID=0

she's even questioning whether or not Rathlin has the cash for WN...has the uber-ramper got the colly wobbles???

I am Spartacus

not a great day for the sp but I'm not worried, it's a good company with plenty of cash and plenty more to come - plus of course a great opportunity for cheap buy-backs