Member Info for itsawrap

significantly undervalued in my opinion, I have been topping up on the dips. when the Wressle updates drop I'm hoping for 3p or 4p in Q1

call me pessimistic but without planning permission it doesnt matter if it 6000 bpd or 60'000bpd, it's all a roll of the dice imo

heid what are your thoughts with regard to revenue from the gas to power generation?

persi I have no doubt you are right, plenty of other outgoings not least of all the ridiculously bloated salaries. However I'm curious to see numbers that would back up your "not long to wait" opinion. (btw I hope I'm right and you are wrong as another raise would be a disaster)
"An upstream oil & gas investment company that does things differently. Focused on generating returns through investment in low-risk oil and gas projects with high potential upside." rotflmao!

31.12.20 Rathlin £12.2m cash (4/6 of WN)
30.06.21 RBD £6.4m cash & equivalents (1/6 of WN) maybe £1.5m in H2 for WN (guesstimate)
my conclusion: Rbd should be ok for a good while cash wise

I would love to hear your counter argument persi

GP, based on UJO's H2 cashburn, £1m is quite feasible imo, in fact my estimate is £1m-£1.5m depending on how much they (ujo) spent of Wressle, so copy & paste for RBD and times 4 for Rathlin. potentially £30m to date on 2 wells and they want to drill 4 more, hopefully ujo's 2021 trading update will give us a clear idea as to the 2021 WN spend

I like this company, some very interesting projects, I think it will be a good year for the sp

sorry, I should have said that Rbd owns 1/6 directly just like UJO and 4/6 indirectly through Rathlin

barking, I recently had a close look at ujo's 2020 accounts, WN investment as at 31.12.19 £2.35m and 31.12.20 £3.75m, so 31.12.21 could be over £5m to date. As UJO owns 1/6 of WN, the numbers suggest an Rbd investment of £25m or so. I am not an accountant and this is just my opinion, I have not checked the Rbd accounts

https://uk.investing.com/analysis/get-ready-for-100-oil-in-2022-and-how-to-benefit-from-rising-energy-prices-200507281

https://www.rathlin-energy.co.uk/latest-update/

I believe the sp will pick up significantly in the next few months as the cash position builds. UJO should be issuing a trading update for 2021 in the near future which should give us a clear idea as to how well Wressle is performing plus of course H1 should see Wressle classified as officially in production. It will be interesting to see how much cash the gas to power equipment brings in, this should be quite significant too.

foggy, dont give DB any ideas, he may invest in a lithium Royalty :)

VHB, TW said I'm on "the list" now royoboy of all people calls me a clown, I'm on a roll :)

https://www.londonstockexchange.com/news?tab=news-explorer

RNS's straight from the horse's mouth, just for royoboy

yes I saw that post, I do like the idea of more Kedd and a slice of Waddock plus I have more faith in EDR as an operator than I have in Rathlin, interesting days ahead...

I hope not, I calculate UJO spending to date on WN is circa £5m on 2 wells, if they develop another 4 wells it will cost UJO a lot of money with a low chance of success. I would prefer DB to sell our 1/6 and spend the money developing our JV assets with EDR. Taking an equity stake in EDR would be a good move. all in my opinion of course, I have no inside information, I havent had a curry with DB and I dont know where he lives or what car he drives :)

this bb would be more useful if posters would play the ball and not the man (or woman)

RNST, I suspect admin costs will be significantly higher for 2021 due to the extra long EWT at WN and the extra work at Wressle, roughly £2.3m to £2.5m is feasible which would explain why the 16.12.21 cash position is smaller than I expected, all just my opinion of course and all calculated from RNS's

had a cheeky little top up today, I just wish the spread wasn't so wide, a tighter spread would encourage more trading imo