Member Info for itsawrap

Https://tradingeconomics.com/commodity/eu-natural-gas

gas has climbed from sub E.25 mwh in March to almost Euro 40 mwh

I am very pleased to have had a reply to my email to LNenergy - here is the reply in full

Dear xxxx,

As part of the ongoing concession application process for Colle Santo, LNEnergy was asked to fully respond to a few final questions from the VIA Commission presented to LNEnergy on July 29th 2024.

LNEnergy requested a 60 day suspension period which was authorized by the VIA Commission to allow for additional time beyond the very short 10 days response time initially requested by the VIA Commission, which was exacerbated by the fact that the response time happened to fall in the middle of Italy's national August holiday period.

LNEnergy will respond to the VIA Commission by September 10th 2024.

The Company believes that upon receipt by the VIA Commission of LNEnergy's responses, it will have completed all of the required documentation, therefore allowing a final decision by the VIA Commission to be issued within a short period of time.

Best Regards.

Team di Progetto ”Sviluppo Collesanto”

I have emailed LNe asking for an explanation however I doubt they will respond

Does anyone know what this means?

Admin Removed The material was formerly considered to form part of the register but is no longer considered by the registrar to do so  This document is being processed and will be available in 10 days.

https://find-and-update.company-information.service.gov.uk/company/08359224/filing-history

An interesting company - https://dalgetyuk.co.uk/about-dalgety/

https://find-and-update.company-information.service.gov.uk/company/10274117

largely funded by a company called J T Leavesley Ltd (converted £8m debt into equity Apr 2023)

Persi it doesnt say suspended 09.01.24 that's the submission date - this has changed recently as I check it every few days

I have no idea, hopefully nothing to be concerned about but it does seem odd because I thought LNe / LNe SRL had submitted all the paperwork and were waiting for Italian bureaucrats to do their thing

"Procedure status: Suspended at the request of the Proposer" ???

https://va.mite.gov.it/it-IT/Oggetti/Documentazione/10561/15652?pagina=16#collapse

Procedure code (ID_VIP/ID_MATTM): 10960

Object: Project "SMALL SCALE LNG PLANT Colle Santo Gas Field" - concession for the cultivation of liquid and gaseous hydrocarbons on the mainland called 'Colle Santo'

Date of submission of the application: 09/01/2024

Launch date of public consultation: 26/02/2024

Deadline for submission of Public Comments: 27/03/2024

Date of start of the technical investigation: 26/02/2024

Additions Request Date: 29/07/2024

Person in charge of the procedure: Maria Ciuffreda - tel. 0657225071 - 0657225070 - va-5@mite.gov.it

Procedure status: Suspended at the request of the Proposer

I disagree, I think the company is in very good shape, numerous projects in the US, 2 drilled and producing - Moccasin, Taylor, Diana & Rogers in the next few months plus transparency promised for the Royalties in the Interims.

In the UK we are on the cusp of obtaining planning permission for Penystone (hopefully), Kedd upgrades supposedly in H2 and the possibility (albeit remote) of progress at WN. Meanwhile Wressle produces month after month 400bpd -500bpd over 3 years later

Heid I have been invested here for over 6 years, in that time we have seen Bramhill's enthusiasm for his projects repeatedly coming across as ramping rather than realism, the Feb rns is a perfect example...

Heid, imo the RBD rns was carefully worded to give the impression that they are fully funded for drilling but in reality are only fully funded for re-entry & recompletion - not the side-track which would be very expensive. If I'm right we may see some activity this year but don't hold your breath...

'Re-enter and recomplete or sidetrack one of the currently suspended wells on or before 30 June 2026'

'Re-enter and recomplete or sidetrack one of the remaining suspended wells or drill and complete a new deviated or horizontal well on or before 30 June 2027, and Submit a field development plan on or before 30 June 2027'

'The joint venture ("JV") partnership for PEDL 183 is likely to approve a forward plan, which will initially consist of the re-entry and recompletion of an existing West Newton well in order to establish sustained gas flow.'

'The JV is fully funded for re-entry and recompletion and operational activity is anticipated to commence during 2024.'

Rathlin unrestricted cash as at 31.12.22 = £3.625m

Rathlin as at 31.12.23 ?

UJO spend in 2023 for 1/6 = £447k

therefore £3.625m - £1.788m WN capex = circa £1.8m

Rathlin as of now? my guess is Rathlin is down to circa £1m (unless new funding has been found)

2023 accounts due by 30.09.24

OK.gov official data for A-1 = June 1550 barrels

19.08.24 RNS

Since being placed on restricted and periodic test production during late May 2024, the Andrews 1-17 well has produced 6,460 barrels of high-quality, ultra-light oil with a gravity of approximately 46 degrees API and 382,000 cubic feet of gas

If one assumes May production was negligible, then 01.07 to 18.08 produced 4910 bls or 100bpd

(July data for A-1 may be available next week)

The one year chart shows the sp down about 3p - not far off the drop in cash due to capex, USA, divi, G&A etc could it be that the sp will continue this way until we have solid revenue data next month?

Https://apps.northlincs.gov.uk/application/pa-2024-275

Letter from 'Natural England' dated 27.08.24 added today - no issues, more importantly the consultation process appears to be ongoing

Interims in about 3 weeks, hopefully some progress at Keddington, an update on WN and lots of data for our US assets.

I wonder what Bramhill will have to say about Beacon???

Also next Monday we will have the NSTA data for June and maybe July data for Reach wells a few days later

I really hope you are right, I would love to see the sp double or treble....a decent exit point would be very welcome

Every forum needs a clown...we are blessed, we have two

..."Sentiment is turning" 😂😂😂😂😂😂😂😂😂😂😂😂😂😂

you really are a clown, what evidence do you have apart from your ramping????

'The JV is fully funded for re-entry and recompletion and operational activity is anticipated to commence during 2024. '

...the clock's ticking on WN, if they dont start work in H2 even the big investors who supported RBD during the votes may throw in the towel. If they can get the gas flowing, it should be easier to raise funding for the side-track. The 2023 accounts for Rathlin will give us their cash position at at 31.12.23, perhaps even confirm the H2 plan...or just more flannel