Member Info for itsawrap

from the daily Cause List

17.4 Technology and Construction Court cause list
List updated: 26 January 2023 4:30pm

Judge Time Venue Type Case number Case name
Mrs Justice O’Farrell 10.30am Remote hearing via MS Teams Case management conference HT-2022-000141 Secretary of State for Health and Social Care v Primer Design Ltd and another

that reply feels odd to me, the O&G has been stabilised for over a year, any idea why this would change with the introduction of C65s that may increase O&G by "up to 20%"? any technical guys out there?

shorting aside, what we need is an update from Egdon confirming that the C65s are performing beautifully and production is over 900bpd...tick tock

"People inflating the cash burn have a different agenda to most." I have no agenda other than to make some money out of nova doing well, unfortunately cash-burn of £12.6m in 6 months is a potential red flag for me. It's not "inflating the cash burn", it's a fact as per nova's RNS's

thanks cacher. the trr website currently has 3 categories for the royalties, exploration, advanced & production. TRR says "Construction is underway, which Ganfeng intends to accelerate" whereas the article says “They want to have the mine, but they don’t have the permits”. It seems odd that construction has started without permits, of course "construction" could mean many things.

cash-burn, lack of sales, lack of direction, lack of a CEO, lack of PR, the dispute hanging over nova's head like the sword of Damocles...all the reasons why nova is valued at less than cash imo. winning the dispute will be a massive pump for the sp, but for how long if management cant make progress on the other issues?

26.01.23 RNS - Cash position at 31 December 2022 was £87.0m (2021: £101.7m) and the Company remains debt free.
29.09.22 RNS - Cash position at 30 June 2022 was £99.6m (FY 2021: £101.7m) and the Company remains debt free

£12.6m cash-burn in 6 months???

https://www.mining.com/web/mexico-seeking-accord-with-lithium-firm-in-sonora-state/
another article, what's interesting is the TRR website says the project is "advanced" which appears to be contradicted by this article, any thoughts?

51 days for the last $1m from Wressle, even with $50-$60k from Kedd, claiming "we have what amounts to almost a £1,000,000 a month in cash coming in from Wressle and Keddington" is simply rubbish

micky, there are several possibilities to be excited about in 2023 which should be a springboard for the sp, let's see what we get!

Wressle - micro-turbines imminent, possibly gas to private grid at some point, drilling of *****tone Flags planned for H2 2023, exploration well for Broughton North (according to EOG)
Keddington - Planning consent and permits in place to enable drilling during H2 2023
Biscathorpe - Preparations for drilling in H2 2023 would follow from a successful planning appeal
West Newton - horizontal in H2

the IPO seems to be a moving target - previously indicated as ending December 2022 this article says 2nd Feb. The IPO price range is $4.15 to $5.15, it will be interesting to see how UJOs holding is revalued for the 2022 Finals.
https://stockanalysis.com/stocks/elep/company/

with so many variables and events ranging from likely to highly unlikely predicting the oil price this year will give a large range of target prices imo. plus of course it's easy to find an article supporting any view. my guess is there will be further trouble between Saudi & Iran this year spiking the oil price - will that mean $100, $150, $175, I haven't got a clue.

https://www.ig.com/uk/news-and-trade-ideas/outlook-2023--oil-price-forecasts-221214

Forecasts for brent crude oil
The US Energy Information Administration currently (as at the 6th of December 2023) forecasts an average price of $92/barrel in 2023.
A Reuters poll of 38 economists / analysts (as of the 1st of Decemebr 2022) provide a median estimate of $100.50/barrel.
JP Morgan Chase & Co. forecast brent crude oil to average around the $90/barrel level in 2023 (as of the 30th of November 2022).
Goldman Sachs economists have suggested (8 November 2022) that if China ends its lockdown policy, oil could race to $125/barrel.

"I do not speculate as I am well researched"

I almost fell off my chair laughing at this statement, what about the predictions of poo of $150, then $200 and even $300, not forgetting £1 by Xmas then upped to £1.25 ...move over Mr. Bean there's a new comedian in town :)

Hello manwell, both RBD & Rathlin have stated "horizontal well" but as far as I can see they havent said they will be drilling a new vertical so I assumed that meant a side-track, perhaps not?

I guess it depends on timing, my understanding is that the next drill is a side-track which should be affordable especially with money flowing into RBD. I assume RBD will prop up Rathlin later this year perhaps even reneging on the £4m promise to shareholders?
RNS 01.11.22 'Corallian expects that payment of the initial gross consideration of £10 million (c. £3.2 million net to Reabold) will be made to Corallian shareholders (including Reabold) over the coming days. Furthermore, the balance of the total consideration, £22 million (c. £9.5 million net to Reabold), is expected to be made in 2023 as outlined in the announcement of 14 September 2022.'

IF Rathlin drill the side-track this year and IF oil or gas flows commercially then the Blunder Brothers are off the hook, current sp high risk but potentially very high reward imo

https://oilprice.com/Metals/Commodities/US-Lithium-Production-Is-Set-To-Explode.html

- The Inflation Reduction Act, which has been described as “the most significant climate legislation in U.S. history”, is an attempt to kickstart the U.S. renewable energy and EV industries.
- In order for the U.S. energy transition plans to work, it will need a significant and secure supply of lithium, a resource that is currently dominated by China, Australia, and Chile.
- To secure this supply, the U.S. government is now throwing money at lithium producers, with lithium facilities planned in Nevada, North Carolina, and Tennessee.

I was having a look at Tungsten West as a potential investment when I came across this in a recent RNS, just wondering if it may be TRR? "In September, subject to the proposed investor's Investment Committee approval, the Company agreed a non-binding term sheet for a US$30 million (approximately £26 million) royalty sale with a global mine royalty investment fund."

https://www.gov.uk/government/news/performance-update-december-2022

we may have to wait a few months for the Bisc decision

https://oilprice.com/Energy/Energy-General/IEA-Half-Of-All-Cars-Sold-In-Top-Markets-Will-Be-Electric-By-2030.html