Member Info for itsawrap

To tanker the gas they would need an on-site LPG facility. their plan hinges on permission for a 3.5K pipeline - something they have yet to apply for despite years and years of planning

The JV is fully funded for re-entry and recompletion and operational activity is anticipated to commence during 2024. Further updates will be provided in due course.

£2m each for RBD & UJO and £8m for Rathlin...any guesses?

Good question ricardo, this is surely the last roll of the dice for WN so DB has no choice but to go with it unless he can find a buyer for our 1/6 which is highly unlikely imo - in fact, I doubt he could give it away as it comes with a circa £400k decommissioning liability

"The Trident Board has also given consideration to the fact that discussions with other potential counterparties that have occurred in recent months, have not resulted in any other proposals being received."

- it seems odd that Directors bought shares in March at the same time as they were in discussions with other parties

...more bullcrap from Reabold - the previous "new plan" was costed at £9.6m, the latest "new plan" £12m. I can feel DB's frustration in the RNS, has he finally realised the Chuckle Brothers are self-serving leeches?

Back in October I recall the "new" plan was costed at £9.6m (presentation seems to have disappeared from website), now we have another "new" plan costed at £12m - these guys are good! stringing along shareholders for another 2 or 3 years while 2 CEOs are paid far too much in salaries and bonuses...

Lowball offer - not happy

Https://unionjackoil.com/operations/usa/

well worth reading

So why doesn't Bramhill buy some?

Here's an interesting court case re COG Operating LLC from last year

https://www.mayerbrown.com/en/insights/publications/2023/08/court-of-appeals-holds-that-mineral-lessee-owns-produced-water-in-o-and-g-operations

WB said “fearful when others are greedy, and greedy when others are fearful” the problem with the latter part is that experienced investors are usually fearful for good reason!

29.01.24 Royalties Purchased to Date

· Cronus Unit, containing a 25 well package in the Permian Basin

· COG Operating LLC , consisting of 15 wells in the Permian Basin

· Occidental operated Palm Springs Unit, containing 10 horizontal wells in the Permian Basin

· The total cash consideration for the Royalties was US$854,070 (£677,235)

we all want the sp to perk up - how about Bramhill gives us a monthly update on our Royalties across 50 wells?

I'm more interested in the possibility of a cheeky bid

"The £19.8 million set aside in the accounts as a warranty provision should now move back into the cash total in the accounts where it originally came from."

- not sure that is right, reversing a provision does mean a credit to the P&L but it does not change cash

"the parties have reached a commercial settlement of ALL claims and counterclaims in the High Court proceedings previously disclosed by the Company, on terms that the Company pays £5 million to the DHSC"

- not sure why some are talking about unpaid invoices, for me the RNS is crystal clear

2023 Finals - Other provisions and short-term liabilities are broadly flat year-on-year at £20.9m (December 2022: £20.8m). The largest balance relates to a product warranty provision for £19.8m booked in 2020 to cover Management's view of the maximum cost of replacing products in relation to the ongoing commercial dispute with the DHSC that remains unchanged in 2023.

- Am I right in saying this provision will be cancelled, if so, how will that effect the P&L?

"I look forward to updating the market on stabilised production rates from Andrews 1-17 in due course, once a permanent electricity supply and upgraded pump jack have been installed. These site upgrades are expected to materially enhance current flow rates, with up to 100 barrels per day of high quality (46 º API gravity) oil having already been recorded at Andrews 1-17 during May 2024."

Paris, France, and Eastleigh and Manchester, UK - 11 June 2024 - Novacyt S.A. (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international molecular diagnostics company with a broad portfolio of integrated technologies and services, announces that the parties have reached a commercial settlement of all claims and counterclaims in the High Court proceedings previously disclosed by the Company, on terms that the Company pays £5 million to the Department of Health and Social Care ("DHSC"). The trial listed to begin this week will therefore not take place. Neither party has made any admission of liability or wrongdoing in respect of the claim or counterclaim or otherwise.

"it's possible that a larger pump jack might need to be installed to fill those large oil storage tanks "

...or it could be that the tanks are prudent planning in action as they planned a 2nd well on the site

RBD Finals - 'The decommissioning provision at 31 December 2023 comprises the future costs of decommissioning the group's 16.67% interest in wells at West Newton. The costs are expected to be incurred in 2033.'

The 31.12.23 provision is £387k which seems a lot for 1/6 of WN. Rathlin owns 4/6 so buying Rathln comes with a theoretical decommissioning liability of £1.548m which is MORE than their cash.

Rathlin accounts as at 31.12.22 state a provision of £1.461m for decommissioning

I checked UJOs accounts to see how much their provision is for WN, unfortunately it's not broken down by site.