Member Info for itsawrap

Not a leak imo, just a realisation that the current option is screwed

I am still hopeful that CS will be granted a permit but the current option is as good as dead so who will benefit and to what extent remains to be seen, especially as Frascogna has run rings around our 2 clowns when negotiating the sale of LNe shares. The last tranche values LNe at over £18m

LNEnergy's primary asset is an exclusive option over a 90% interest in the onshore Colle Santo gas field in Abruzzo, Italy. LNEnergy may exercise the option at any time until 1 February 2025. The exercise price is US$11 million.

...it's not looking good - what price will we pay for a new option? (yes "we" because LNe has no money so Frascogna will come cap in hand to RBD if there's an option premium)

15.01.24 RNS

"Going forward, future production and revenue updates from Wressle will be reported on a quarterly basis."

...words are cheap

07.01.25 - the Moccasin 1-13 well ("Moccasin"), located in Seminole County, Oklahoma, USA has been spudded.

29.01.25 - the Moccasin 1-13 well ("Moccasin"), located in Pottawatomie County, Oklahoma, USA

...it's good to see that Brammers has finally found Moccasin on a map

Jumped from 148 to 207 published comments

H1 revenue was £2.338m, H2 revenue will be under £1.5m (imo) and expect pre-tax profit to be a nasty surprise

If Taylor is another dribbler like Andrews, I dont expect the sp to rise, ditto Moccasin.

Diana still hasnt been granted a permit to drill according to ok.gov

Kedd may be our only near-term hope for the sp

...meanwhile Europa said wressle was producing 250 bpd early December. Nov data out on Saturday

...unfortunately they believe spending £40m to make £12m is a brilliant business model

Uggy, you're being very unfair to the 2 muppets, nothing is ever their fault, it's always the regulator or the government or the tooth fairy...

I'm expecting an RNS this week stating a further investment in LNe Ltd - money needed to buy a new option.

Even if CS is granted a permit this week, will there be enough time for Gunvor to study the documents, conduct DD and pay the money in time to exercise the option???

Https://consult.environment-agency.gov.uk/psc/hu11-5da-rathlin-energy-uk-ltd/consultation/published_select_respondent

on Thursday there were 87 'published responses' (and an unknown number of private ones), that has jumped to 148. I have read quite a few of them and it's clear to me that many of the respondents have been coached - a well coordinated campaign to stop WN. The consultation is now closed for comments.

...reminiscent of Egdon's claims about North Kelsey, Keddington and the 600m pipeline plus Reabold/Rathlin's claims about WN...David "gullible" Bramhill?

Never minds the sharks, Bramhill is up for re-election at the AGM - let's vote him off!

Btw Diana still doesn't have a permit to drill according to ok.gov website

Ribeye you make an excellent point (see March rns), Trump's policy may be very lucrative for our Royalties - not so sure that it will make much difference to Reach though

I wonder if DB will set up a US subsidiary this year and transfer all our US assets ???

Morning Heid, Andrews has been a huge disappointment, hopefully Taylor or Moccasin will make it all worthwhile.

Meanwhile, Wressle is on my radar, Sept 371 bpd, Oct 310 bpd. In the early December video from EOG, it was said that Wressle was producing about 250bpd so the November data which will be out in 9 days could be 270/280 bpd so UJO's UK revenue may have fallen below $200k per month.

Andrews-1 revenue was about $12k net to UJO in November - Royalties unknown. Clearly Sidoti's estimate for H2 revenue is laughable.

Oct - oil 173.55 - gas 4639

Nov - oil 172.41 - gas 4482

(no data for Andrews-2 or Taylor)

"We dont contribute to The Brothers and sister Grimms fairy tales."

"I look forward to watching David's next interview also."

...fairy tales and DB's interviews...same thing?