Member Info for itsawrap

better to just sit on them until they can be used for an acquisition of a PEDL or perhaps even sold to an II when the sp is a lot higher, say after WN, Bisc or Kedd is developed

I would be very happy to buy ALL your shares at 14p each if that's what you consider fair value, in fact I'll give you more than fair value, how about 17.5p, that's a 25% premium to your FV :-)

Rathlin said this "RPS has modelled wells extending up to 1,500 metres horizontally through the Kirkham Abbey reservoir. The modelled horizontal wells will also have a much greater likelihood of encountering significant sections of the reservoir with open natural fractures which will also enhance the productive capability of the Kirkham Abbey reservoir."

Is it correct to assume this will be a sidetrack from an existing well? If it is a side-track, why would it cost C$19/£12m ?

miln, possibly not the full picture, UK gas power stations produce over 40% of our power, these power stations are gradually implementing emissions reducing technology, whilst not an entirely clean burn it's a lot cleaner than a micro-turbine or a gas-engine
https://www.nationalgrid.com/gas-transmission/news/selective-catalytic-reduction

pboo here is the reply that I received from MA in October.
"In relation to your specific question, the environmental permit only restricts incinerated gas via the flare, so any gas utilised to generate electricity (or any other use such as gas export) would provide an opportunity to increase total production."

pboo I asked MA this question some months ago, he confirmed that the 10t emissions limit applies to flaring only. This is good news for Wressle production but it is rather odd that GTW combustion can generate unlimited emissions.

"The Europa Board has approved a 2023 budget which includes net committed capex of £5.1 million across the asset base. The Company has a forecast net cash position of £4.6 million at 31 January 2023. In addition, it forecasts that it will generate £4.2 million in free cash flow during 2023 (pre-capex). "

definitely a better than normal RNS for detail, we now know the (likely) cash position whereas the Finals only gave the cash for 31.07 and not the 14.11 publication date which was strange. £4.6m plus up to £2m back from escrow, plus £4.2m forecast minus £5.1m capex so maybe £5m at year-end after all outgoings?

uggy I think they mean GTW using a gas-engine for the "local private grid", the on-site power using the C65's is apparently due online this month after testing

Europa continues to benefit from the excellent performance of the Company's onshore UK producing assets, particularly the Wressle oilfield in the East Midlands (Europa working interest: 30%). The Company's total UK net production in December 2022 averaged over 300 bopd, and Europa anticipates an active year for Wressle, with a firm development well planned to be drilled for the *****tone horizon in H2 2023 (subject to necessary permits and consents) and preparation for a second *****tone well and Broughton North exploration well to be drilled in 2024. When the *****tone horizon comes online, expected in Q4 2023, the Board forecasts group production net to Europa of over 500 boepd. The production is complemented by the gas monetisation solutions planned for Wressle via a "Gas to Wire" system, forecast to be completed in Q2 2023, and a gas export pipeline, developed in parallel with the *****tone well, expected to be operational by Q4 2023. Both gas monetisation solutions will not only enhance production from the field and substantially increase revenues but will also eliminate routine flaring from the Wressle field.

"My bank account has my dividend in" - isnt it strange that someone who has trolled the bb over 20'000 times telling everyone the sp will be £1 by Christmas has chosen NOT to invest the dividend???

back in September analysts at UBS said Brent would be $125 by Christmas...not even close. Credit Suisse are bearish on oil for 2023 with a TP of $60, clearly there's a range of opinions. Fortunately Wressle has an exceptionally low break-even point.

thanks for the correction Olivia, I got my kw and mw seriously confused...oops!

but it's not gas export, it's power export, the nearest substantial business appears to be half a mile away which means running cables under fields etc. if they could simply plug the power into the grid they would have done that months ago. perhaps you should read your own email?

I'll have a little wager with you, I say gas to private grid in Q3, what say ye?

it seems fairly obvious what is happening, EDR says up to 175mw for a private local grid + on-site power. I suspect having researched the turbines & engines, MA realised that he didnt need a micro-turbine and a gas engine, he could provide power for both using a bank of C65s ergo saving time and money. It is likely to take months to get permits etc and run infrastructure to the local private grid, he already has the power units in place. all in my opinion of course

I cant disagree with any of that uggy so I dumped all my shares last month. sp will drift down 20%-30% imo, I'm hoping to buy back in at about 12p/14p, if I'm wrong and I miss the boat that's ok, I see RBD as high risk so I'm happy to wait & see

Is no-one else puzzled that an increase in revenue of $1m only equates to an increase of £5ook ???

https://find-and-update.company-information.service.gov.uk/company/06478035/filing-history

Rathlin had £5.3m cash as at 31.12.21 "In the event that operations are delayed, these funds could be used to sustain general operations and would be sufficient to fund the company for a minimum of 12 months from the signing of these financial statements. This would enable the company to continue as a going concern if drilling and completion operations are delayed." (signed on 28.04.22, published 16.08.22)

as others have said, Rathlin are likely to need a lot more cash to fund their 4/6 of WN, especially considering the very ambitious drilling plan. Perhaps if the first drill confirms a potential commercial flow they will farm-out part of their share.

https://finance.yahoo.com/news/u-judge-rule-thacker-pass-211134468.html

this is a more comprehensive article

Du's options include overturning Trump's decision, upholding it or ordering federal regulators to re-review the project. "I hope to have a written decision, well, in the next couple of months," the judge said.

question for any accountants out there? If Wressle revenue increased by $1m (or about $0.9m to 30.12), how come Sterling revenue only increased by £500k??? (revenue is distributed in £ by EDR)

$11m RNS 14.11.22 - Unaudited revenues from 1 January 2022 to date are in-excess of £7,900,000
$12m RNS 04.01.23 - Unaudited revenues from 1 January 2022 to 30 December 2022 are in-excess of £8.4m