Member Info for itsawrap

"when they are working extremely hard to succeed" doing what? UJO is not an operator, Rathlin and Edgon are doing all the heavy lifting, DB is a wheeler-dealer in PEDL's ( I dont mean that as a put down), his strategy is about to kick-ass imo

" If they announce an ongoing divi then they will need to demonstrate its sustainability, this can only be done by pointing to a verified future production/cash flow profile"
could they not announce a divi based on 25% net revenue from Wressle or all production sites for example? that wouldn't require a commitment in pence per share as it would vary based on production and the exchange rate

Rathlin's account page 33 section 20. Capital Management, outlines their approach to fundraising. "through the issuance of shares, the use of available credit facilities (note plural), the sale of assets, the farming out of properties and adjusting its capital spending if necessary."

https://drillordrop.com/2022/08/17/climate-change-will-not-affect-our-operations-rathlin-energy/

good summary for those who dont want to read the accounts in full

tac you do like to be the bb Prefect, well have a word with heid, she's the main problem. during the week she wasn't posting the forum was informative and calm, as soon as the cyber-hemorrhoid started posting the bb became a cesspit

GP, Q1-Q3 cashburn of £0.75m may be on the low side, in June Rathlin said - "In the last six months, a large amount of geological and engineering work has been undertaken. Following the testing of the WNB-1z and WNA-2 wells in Q3/Q4 2021, the information gathered has undergone detailed analysis, including additional lab work. "

afternoon GP, I am very happy to agree with you, I think it's unlikely but I wouldn't rule it out completely, DB may view RBD's lack of cash as an opportunity

I think Help by the Beatles should be nova's theme song, lyrics seem quite appropriate

hey jack, thanks for your view. lots happened last year so no surprise millions were spent, let's hope Rathlin has enough in the tank to get at least one well flowing next year to bring in some revenue. Obviously a Victory sale will help RBD & and therefore Rathlin significantly but it does seem to be taking a long time. As this is primarily a gas play, I'm wondering what the plan is when gas does flow, some have suggested a quick sale but I think it's more likely they will let the oil flow (if any) and tanker it offsite and flare the gas short-term to bring in some cash. Does anyone know how far advanced plans are for gas2grid?

unusually large purchase of 337k, could this be an II dipping their toes in at long last?

yet again a sensible conversation about UJO is polluted by our resident troll, will she ever have anything of value to add?

777 some posters have suggested it should take about 3 months or so - the end point was set at 30.06.22, so sometime in the next 6 weeks is possible. However they have been tinkering with the data for almost a year so it could drop any day (all just guess-work on my part)

one more possibility comes to mind, could DB be tempted to buy a slice of Rathlin shares from RBD??? (I hope not)

persi more like a multi million dollar question! I have long thought WN is a money pit, I think DB will be making a huge mistake if he increases OUR stake in WN. It may deliver in spades eventually but the short-term impact on the UJO sp will not be good imo.
3 possibilities come to mind, buying 1/6 of the PEDL from Rathlin, lending to RBD or participation in an RBD placing,

persi do you think Rathlin will follow up this week with a progress update for WN?

oops!

Rathlin's cash balance fell dramatically from £12.2m as at 31.12.20 to £5.3m as at 31.12.21

Rathlin's cash balance fell dramatically from £12.2m as at 31.12.20 to £5.3m as at 31.12.21

I really hope UJO does NOT get any deeper into WN than its current commitments, imo the Chuckle Brothers are snake-oil salesmen until proven otherwise

Hey persi, interesting timing, Rathlin filed their 2021 accounts today, available for viewing in 10 days. it will be interesting to see how flush they are (or aren't) as at 31.12.21.
hTTps://find-and-update.company-information.service.gov.uk/company/06478035/filing-history