Member Info for itsawrap

EVICK & AMOS are examples of producing wells whereas ORTIZ is an example of an "active" well since Oct-2021 which has no production data, so yes, active doesn't always mean producing on that website

Morning pboo, I see the number of producing wells has dropped from 11 to 6.

going forward this website will be far more informative as it has data well by well - use company no. 24558 - according to this one there are far more "active" wells than 6

https://oklahoma.gov/occ/divisions/oil-gas/oil-gas-data.html

"Why are we paying so much for lne shares, without us they're broke."

..it seems to me the chuckle brothers fall in love with every project and just throw shareholders money at them at any and every opportunity, once in a blue moon they back a winner...well only once so far, hopefully Colle Santo will be the next one.

According to today's RNS, LNenergy SRL is doing the heavy lifting, not LNenergy Ltd, so why didnt they buy LNe Ltd outright 18 months ago? I'm sure Frascogna would have jumped at the chance to sell the company for £3m or £4m cash knowing that his other company - LNenergy SRL - would be paid to progress the project in Italy.

PD I think CS has a very good chance of obtaining permissions, my concern is that RBD has paid far too much for 30% of LNe and continues to do so.

I posted a link to that document on 5th August - hardly new news

"...it has agreed to increase its interest in LNEnergy Limited ("LNEnergy") by a further 1.0% through the subscription of 17 new ordinary shares for a cash consideration of approximately £205,000, at a price of £12,047 per share."

"On 26 March 2024, Reabold provided LNEnergy with a £0.5 million interest-bearing loan facility. LNEnergy had drawn down the full facility as at the date of publication of this report. The interest-bearing loan with LNEnergy has interest charged at the Bank of England's base rate plus 0.75% and has a maturity date of 25 September 2024. The loan includes a clause that allows Reabold to convert the loan into ordinary shares of LNEnergy at maturity."

...ZERO chance of the loan being repaid as LNE seems to have an insatiable need for cash, therefore expect the £0.5m to be exchanged for shares next month. The guys at LNE have outplayed RBD again and again

LNEnergy is the manager and owner of a 20% interest in LNEnergy S.R.L. ("LNEnergy SRL"), the Italian company which has applied for the Colle Santo gas field concession (with a 90% interest), and has an option to acquire the remaining 80% interest in LNEnergy SRL on or before 1 February 2025 (the "Option"), with an exercise price of US$11 million.

..as far as I can see this is the FIRST mention of a relationship between LNE and LNE srl - not a word about this in the Finals. If LNE somehow finds the cash to exercise the $11m option, RBD could be on the hook for $3.3m. Why would LNE want to buy the other 80%, they own the 90% option over CS, so where's the advantage, what am I missing?

Yes a very encouraging RNS but where was the cash at bank number?

H1 Interims in about 3 weeks so hopefully more good news to come, maybe even some transparency for the Royalties which is overdue imo

Hopefully with A-2 well underway, Reach will soon crack on with drilling Diana...if drilling 3 wells in just a few months doesn't get the sp rising, I don't know what will

11.03.24 RNS "Similar low-cost development wells nearby, typically produce initially at approximately 150 barrels of oil and over 200 thousand cubic feet of gas per day and can provide rapid pay-back within six months."

...if an initial 150bpd is typical, a "major success" should be more. Just more ramping from Bramhill?

Smkr dont forget about this... £5m settlement paid to DHSC in early July (post-period-end).

"Carry on you losers." I suspect we are all losers, how can anyone investor be in profit apart from the odd trade?

So I take that in 6 months time when we have another 6 data points on the Oklahoma government website, you will dismiss it as waffle? If you really want waffle wait for one of DB's interviews.

The important point to take from my "waffle" is that we have a source for official data, well by well, which is far more timely than anything we will get from Bramhill

Pboo have a look at Evick or Amos, when a monthly data point is missed it's added to the following month. It's clear to me the A-1 June data point probably included May production

There was some debate regarding the A-1 production no of 1549.75 barrels - month of June or to date. As it says "This is a rolling 12 month list" I believed it was cumulative. I have found an example that clearly shows that these data points are monthly - however as it's the first data point for A-1 it may include production for May.

https://oklahoma.gov/occ/divisions/oil-gas/oil-gas-data.html

select 'Visit OTC', use company number 24558 for Reach

select lease EVICK which shows monthly production of about 159 bl - note 03/24 is 335bl as Feb was missed

this reporting methodology suggests that the June/24 data for A-1 is cumulative as a one-off imo

Can't comment on the flow rates until official release Mike, but believing anything you read on 'social media' isn't the wisest of decisions. People make it up as they go. If the people on there knew, we wouldn't need to inform the market.

...he'll being saying we make up the NSTA data next, what a complete plonker

- snake oil is something of no value sold to gullible customers

- wrt to oil at WN, this isnt an oil play anymore it's purely a gas play

Hi serif, I have downloaded the files for wressle and crosby warren to check...wressle .383286 which we know is 383bpd

whereas CW is .008319 so only 8bpd, my sincere apologies I certainly wasnt trying to mislead anyone...and there's me thinking CW was going through a renaissance :(

"Whatever happened to RBD?"

...for years they told everyone they are in the crude oil business but now the market knows they are in the snake oil business