Member Info for itsawrap

Does nova sell much to the USA?

Jabez in the next 2 months we will have the Finals, Moccasin data, Kedd data and perhaps permits for WN & Penystone so Q2 could be very interesting. DB recently said another US drill in Q2. Surely one of these events will be good for the sp???

As of 3rd April Taylor is pumping 2 bpd (gravity 44)

I missed this the first time I looked - also 5 barrels of water per day

...I'm still waiting for my share of the £4m promised to shareholders : )

I think CS still has a good chance and could be very profitable in the medium term. if it is granted I wouldn't be surprised to see a quick sale which would mean a significant cash injection for Reabold

What "terrible news" are you expecting?

- it's been obvious for a while that Taylor is in trouble

- we know that DB ramped the a r s e off Andrews 1 & 2 despite them being dribblers

- Moccasin - ramped by DB but may be decent

- Royalties - ramped by DB but may be decent

- Diana - appears to be a vey low priority for Reach as we own 75%

- Kedd anything over 20bpd is a better than before and upgrades may be preparation for the side-track

- Wressle planning being considered

- WN is the never ending joke

..my cup feels empty

sp at a 12 week low

Kedd to be delivered Q4 2024 now Q2 2025

Diana to be drilled Q3, then Q4, then silence in Q1

Taylor drilled in Q4, silence in Q1

Andrews a dribbler

no news on WN or Penystone appeals

mixed message re Moccasin

oil price tumbling

...apart from that everything is great

It's not likely that every well will be a corker, but here's what Brammers said about Taylor

RNS 26.11.24

David Bramhill, Executive Chairman of Union Jack, commented: "Following the drilling of Taylor we are very encouraged by both the reservoir quality and hydrocarbon indications we have encountered in the Hunton interval, the main objective. In addition, the discovery of further intervals in the Cromwell and Misener Sands offer additional future potential. Both zones also produce well in the immediate area."

As of 3rd April Taylor is pumping 2 bpd (gravity 44)

..better than nothing I guess

What continues to trouble about this company is the complete lack of ongoing transparency re revenue. We know H1 revenue was just £63k with a total of 16 harvests by year-end. The company says they have an £41m order book, yet they haven't said anything about sales to re-assure shareholders. Funding issues aside, something doesn't smell right.

...don't forget the GBP/USD exchange rate, if the dollar strengthens out GBP revenue declines

Morning odins, a month ago I tried to calculate our cash position based on Reabold's RNSs, best guess is circa £5m which is the current mcap. If £5m is about right, then taking a punt on a positive CS outcome is not an unreasonable gamble imo - little downside (versus cash) but very big upside, maybe 300% or even 400%

30.06.24 cash & cash equiv. £7.6m

20.08.24 investment in LNe £205k

24.10.24 conversion of loan notes £510k

12.12.24 purchase Rathlin shares £700k

8 months salary for 2 CEOs £335k

other costs - unknown

circa £5.85m cash & cash equiv less unknown G&A, MCAP £5.1m

Https://drillordrop.com/2025/03/26/new-twists-in-the-f-word-debate/

amateur hour?

I got a quote for 3.3p for 100'000 this morning but I chickened out! fortune favours the brave?

The last Finals were out on 14.05.24, I hope we are just weeks away from proper transparency on revenue but the most likely scenario imo will be a long delay due to the perilous state of the finances. If revenue was a small fraction of the £40m order book, surely CEL wouldn't be near bankrupt?

'This contract win takes the potential order book for Celadon up to c.£40.7 million when combined with the Group's £26 million European contract announced in November 2023, and the two UK contracts worth £4.2m announced in May and September 2023. '

I believe all communication is submitted by LNenergy SRL which is run by Frascogna, I doubt he wants to delay as success means a massive payday for him

Wressle Dec 240 & Jan 273

Morning Heid, one poster on advn said that there were 15 days downtime during the festive season, if true then production averaged 338 bpd over the 47 days of production, perhaps downtime of 10 days in Dec and 5 days in Jan which would explain the drops (ever hopeful)

Wressle

- Dec 240 bpd

- Jan 273 bpd

..that's not great, maybe a couple of days downtime for New Year's ?

No different to Diana being drilled in Q3 and then Q4 despite no trace of a permit on ok.gov