Member Info for itsawrap

tovoc I fully agree the cash position (+ escrow) should be very healthy, as I said yesterday I really hope soddie conducts a modest buyback as the sp seems to represent great value for money

comparing yourself to TW? wow, not exactly setting the bar very high :)

"If you don't read my bull**** posts on oil an the choke opening up with revenues increasing then I can not help you."

what you actually mean is you have conjured up $15m out of thin air and cannot justify it with any meaningful time-frame or explanation

$15m net revenue equates to about 1300bpd @ $80 net, that's simply not going to happen anytime "soon"

the mini-turbine and the gas engine will allow production to increase about 10%-12% from the current 725bpd

so come on Miss flip-flop, explain to your followers how and when???

PS Penystone Flags production is years away

29.11 "The share buy back is not there to support the price!

09.12 "with the Eric Nuttall formula, share buy backs an dividends successfully grow a share price."

flip-flop!

I'm surprised by the current weakness, overdone imo, when we get the circa £2m from escrow I would like to see soddie conduct a small scale buy-back if the sp is still at this level, maybe 50m shares, not enough to undermine our cash position but generous enough to get the sp above 1.30/1.40

it is odd that EOG didnt disclose current cash & receivables in the Finals, best guess £4m-£5m once the £2m comes back our way, revenue seems relatively healthy, ditto cash, assuming there are no nasty undisclosed surprises, the company seems significantly undervalued imo

"If he continued at this pace we are looking at 'least' IRO 5,000,000 shares for one year will be reduced in shares in issue"

..the problem with this bullcrap statement is that authority for the buy-back only lasts until the next AGM which is about 7 months away, to continue "for one year" requires fresh authorisation

sorry should say "gas-engine for 175mw PRIVATE local grid"

“We are excited about undertaking further development on the Wressle field with a planned gas monetisation project unlocking further upside potential for oil production rates and gas sales from the field. This could add an additional 50% to oil production rates, further boosting Europa's revenues,”

this is more smoke & mirrors from another small oiler - mini-turbine to replace diesel generator in place sometime this month (this is no ordinary time-line, this is an Egdon time-line) - effect on production? negligible imo

gas-turbine for 175mw local grid - promised by Egdon but NO time-line given - effect on production? my basic research suggests no more than a 10% upside

gas-to-grid - mentioned by Egdon as a plan for gas monetisation when they drill the Penystone Flags - for which there is NO current plan (just wishful thinking)

sorry for being a glass half-empty guy but I'm tired of all the bullcrap eminating from the JV regarding Wressle

unfortunately the over-hyped buy-back is proving to be almost non existent and bad news for the sp - just another dent in DB's fragile reputation imo

https://www.contractsfinder.service.gov.uk/Search/Results

government site for all contracts over £10k, nothing recent for Nova or Primer as far as I can see

does anyone know where the CEO job is being advertised? (just curious as I would like to see the job spec)

as confirmed by drillordrop yesterday, Wressle has entered the onshore oil Top 20 at no. 2, yet not a tweet, website update or RNS from Egdon - this is an awesome achievement which the company should shout from the rooftops...come of Mark, how about some PR?

posted by me 16.11
"imo it's important for the Wressle stats to be included in the league table as it would be great publicity for the JV."

heid's response same day
"Who cares about the stupid website showing the production rates."

...this evening we have heid promoting the article

thanks for the link pboo, a transparent project plan with precise timing (too precise perhaps as one or two elements are bound to over-run). Egdon could learn a lot from the presentation as their timelines are always extremely vague and even with their vagueness they rarely (if ever) deliver within the first timeline given. How many times has EDR said they are going to start NK or drill the sidetrack at Kedd and nothing has happened? Unfortunately when EDR issues a timeline UJO has little choice but to repeat it so shareholders are disappointed again and again. Yes Wressle has delivered much more than expected but EDR needs to up their game and start delivering on our other JVs.

...boasting on a bb that the family take private jets - how desperately sad and pathetic!

tac,
if O&G production remains the same but the mini-t is online, then flaring will decrease
if O&G production increases, then it can only do so by the amount of gas that the mini-t consumes

gas monetisation does 2 things,
1) it creates a new revenue stream
2) it allows increased production of oil and gas - the excess gas being consumed by the mini-turbine

You say "The whole point in their installation is to take some of the gas away from the flare and that in turn will allow the increase in oil production FACT" - no, not a fact. The main point of gas monetisation is to increase oil production which means more gas, this gas cannot be flared as the site already flares up to the 10tonnes per day limit, it's the excess that will be diverted into the mini-turbine

In what scenario does the mini-t "decrease the tonnage being incinerated, allowing the oil production to be increased" ?

"the operator of Wressle installs and brings the gas turbines online which in turn will decrease the tonnage being incinerated, allowing the oil production to be increased" - what complete rubbish!

...that is the question

the real question is "Why should anyone buy at this price if the broker isnt willing to buy on behalf of the company?"

the normal suspects can ramp all day long but actions speak louder than words - 5 weeks in the buyback has been almost non-existent, what's going on DB???