Member Info for itsawrap

Only 8 weeks to Christmas so there should be a lot of news in the pipeline - Taylor, Mocassin & Kedd, and maybe Diana but I doubt that's a Q4 spud. Maybe an update on the Rogers Recovery project too. Nsta data for Aug. out in 10 days followed by ok.gov data for Sept. in mid November. The ok.gov data will be interesting because we will find out if the A-1 17 bpd for Aug. was a blip or the new normal.

If we dont get a Q3 Wressle update soon, we should all email Bramhill and ask him why (Q1 was issued 17.04.24 and Q2 was issued 10.07.24 so Q3 is well overdue)

'Currently, a material upgrade of the production equipment and site modifications at Keddington is ongoing, the result of which is expected to increase efficiency and production rates going forward. Works are expected to be completed and production reinstated during late Q4 2024, adding a further increase to Union Jack's revenue stream.'

...Bramhill should explain why our only UK site with planning permission to drill isn't being drilled

I forgot about the January RNS - 'Going forward, future production and revenue updates from Wressle will be reported on a quarterly basis.' ...so where is the Q3 data???

" Why does the price keep tanking??? "

US production is well below our expectations

Bramhill said "nearby wells produce 150bpd", he said "major success"

the reality? A-1 Jun & Jul 50bpd falling to 17bpd in August - no explanation for the big drop

Reach said back to back drills in Q4 for Taylor & Moccasin

Bramhill said 3 drills in Q4 - more ramping?

£10m cash pile has dropped to little over £3m (if we had planning for Bisc and Wressle a placing would be required)

Bramhill took a massive salary last year - £398'000

Kedd side-track set for H2 2023 was dropped with no explanation (currently our only UK site with planning but no plans to drill, go figure!)

WN - never ending fantasy land costing UJO a small fortune year after year

cash-burn is a concern...did I mention Bramhill's ridiculous salary?

The (latest) deadline for public comments re CS was 15th Oct. There are 5 docs on the website, 2 are very comprehensive - hopefully we are just weeks away from a decision

The share price shows a huge lack of confidence in Bramhill.

...Why not try a different approach, how about timelines, transparency and honesty? (and a pay cut)

Mr Rose-Tinted-Glasses says "if you don’t like it, sell up and move on"

...clearly many have done just that, hence the sp is in the crapper

Https://drillordrop.com/2024/10/18/council-will-not-defend-wressle-expansion-challenge/

updated article - nice and clear

"The Supreme Court judgement does not affect planning permission for the existing production well at the Wressle site."

currently Egdon only has one (JV) site with permission to drill, that's Keddington...yet in their wisdom and despite saying it would be drilled "this year" for the last 2 or 3 years, the side-track has been dropped in favour of unspecified "upgrades". We need to get Keddington drilled before it's too late...if it's no longer economic due to poo, perhaps Bramhill should have the courtesy to say so

Bramhill's salary

2020 £215k

2021 £287k

2022 £287k

2023 £398k

I wondered about this too. I believe there is a screening process to determine if an EIA is required, this is likely to be a formality as NLC has accepted that downstream emissions should have been considered, so imo an EIA is a 100% certainty. However if NLC considers the EIA and still grants planning, I expect a further legal challenge from Stratford which will at best delay planning for at least a year, at worst have it overturned by the Supreme Court.

Logically the "downstream emissions" should be excluded as they occur whether it UK oil or not, unfortunately logic is just a sideshow for the eco zealots and the Supreme Court

Serif, unfortunately, EOG UJO RBD etc all milk the cow as though they are CEOs of Shell or Esso when in fact they are CEOs of AIM tiddlers...pay cuts? not a chance

Europa stated that capex for Wressle expansion would be about £3.7m - money they dont have and money that will be difficult to raise when the sp is on its knees. imo a delay of a couple of years is a blessing in disguise

Egdon has planning permission to drill a side-track at Kedd. It was due to be drilled in H2 2023 but was dropped without explanation or apology, simply replaced with unspecified "upgrades". Well now that Bisc is screwed and Penystone is looking vulnerable, how about drilling the Keddington side-track? let's stick 2 fingers up at the swampies : )

The flawed logic of the swampies - stop UK oil because of the "downstream emissions", instead import oil from countries that have lower environmental standards...but wait, the imported oil also has "downstream emissions" doh!

Meanwhile, if these nutters stop Wressle expansion that means NO pipeline so gas will continue to be flared...

We believe our heightened drilling and development activity and the expected additional news-flow generated, combined with effective investor engagement on both sides of the Atlantic, will continue to attract the ongoing support of our existing shareholders and the attention of new investors, broadening the appeal of the Company to a wider audience. (Interims)

"effective investor engagement" ...rotflmao!

...it's time you took a pay cut to reflect the disastrous sp performance this year

Nothing happening at WN for months and CS is in the hands of LNe SRL, so I guess they have plenty of time to polish each others Ferraris...

Paul yesterday was the deadline for public comments to the supplementary documents submitted by LNe SRL. 2 comments so far, one of 30 pages. Hopefully this is the final rounds of public consultation before the bureaucrats make a decision. I believe 31.12 is the target date for an LNe Ltd / Gunvor deal and 01.02.25 is the expiry date of LNe Ltd's option over 80% of LNe SRL.

These are all from the Interims

- It should be noted that Beacon Energy has not provided any parent company guarantees related to the debts of Rhein Petroleum.

- On 11 April 2023, the Company acquired the entire issued share capital of Rhein Petroleum GmbH, an upstream oil and gas business operating in Germany.

- The loan between Rhein Petroleum GmbH and Tulip Oil Holding B.V. is secured on the shares of Rhein Petroleum GmbH, incurs interest at a rate of 15% and is repayable on 30 June 2025.

...so, BCE owns all RP's shares, the loan from Tulip to RP is secured "on the shares of RP", how is this NOT a parent company guaranty?