Member Info for itsawrap

I was just looking at their products, a very interesting company which should have a great future as modern warfare has so much to do with economics when a relatively cheap drone can take out or damage multi million dollar assets. As drones become more sophisticated and deadly, weapons like these will be critical to the success of a modern army.

http://www.acemb.com/portfolio/micro-turbine-co-generation-multiple-locations/

an example that appears to be a similar shape & size to the white structures

UJO owns 56'650 shares valued at £93k as at 31.12.21
ELEP trying to list on nasdaq, IPO to offer 1,827,957 shares in $4.15-$5.15 range - as yet date unknown

GP, perhaps I am being unduly pessimistic, cash of £3.6m as at 30.06 with £3.2m from the Corallion sale due in November so current cash should be over £6m. The £4 will only be paid once the remaining £9m has been received in 2023.

apologies posted earlier today!

"The Company's UK operations are focussed on advancing a Field Development Plan ("FDP") for the Serenity field as a one well development, tied in to existing third party infrastructure. Costs for the UK operation have been optimised accordingly and total capital allocation for the Serenity development is less than USD 0.6 million for 2023." thx adnatrob

GP, it could be that when Rathlin needs cash, the £4m promised to shareholders during the recent forced GM will actually be diverted to prop up Rathlin, we shall see

should anyone wish to have a look at the Avington site on google maps (near Winchester), search "matterley basin", it's just north of the car park

or 'Stewton' and 1k N.NE

if you are curious, search for 'South ******* erington' on googlemaps and look 1.5k SE for the Kedd site, similar to Wressle, looks good to go for a side-track

it's very odd that the broker bought shares at 33p but appears unwilling to top up at 29p

it increases their stake in waddock cross to 74% - they have been looking for a JV partner for a long time, I suspect DB will be considering participating, maybe 30% sometime in H1 2023?

mirasol, this is what Egdon said in an RNS 15 months ago, so gas monetisation has been on the table for a long, long time. A mini-turbine should have been an easy first-step and imo should be part of the basic kit once gas production is stable
"We can also advise that we have now received the revision to the Environmental Permit, enabling the installation of a combustion plant to facilitate gas to electric generation and a new potential revenue stream."

the fact that Egdon has taken over a year to install a mini-turbine to replace a diesel generator at Wressle speaks volumes

the problem with the "huge year for the company" theory is that we are at the mercy of Egdon and Rathlin - both companies progress at glacial speed

deleting a thread is daft, if a post breaks the rules delete the post or overwrite it with the msg "Deleted - this post breaks our rules" !

it has been suggested many times that the claim & counter-claim are likely to be settled before it gets to court. I know nothing about how these things work but common sense suggests that as they couldn't reach a settlement after nearly 18 months of talks, it's unlikely that they will come to an agreement just because one side has lost patience and has filed a claim. I feel there is a strong likelihood that Nova will have their day in court.

of the 3 Wressle partners, EOG EDR & UJO, it's my view that EOG will be the best performer over the next 4 to 6 months with as much as 50%-100% upside whereas EDR & UJO have significantly less short term upside. One possible issue will be if the expected £2m refund from escrow is overly optimistic, I'm setting my expectation at half that as soddie and all the rest of the small oilers over promise and under deliver, my guess is soddie is being unrealisitc. It would have been much better if he had said "we expect more than £1m from escrow" and then any more than that would be a bonus.

a short article but worth reading
https://oilprice.com/Energy/Energy-General/Goldman-Sachs-Expects-A-Bumper-Year-For-Commodities-In-2023.html

"Key metals necessary for the energy transition are also set for a bull run amid expected shortages in the coming years, Goldman and industry giants say. Earlier this month, mining and commodities giant Glencore said that a huge shortage of copper is looming while significant mine development is lagging."

mrswamp, thanks for your response, it's good to get a view from someone local fyi I grew up not far from an Esso oil terminal in Hampshire (about twice the size of Wressle), we only knew it was there because we used to cycle past it