Member Info for luckyman2

Oiler87

Yes i used to work in the O&G industry but retired now.
i certainly have done my research here and am very very confident we will produce gas from the top zone.
The oil zone below is higher risk but if it comes in then the SP will go over 1p easy.
So great odds with this one.
5 Bagger with gas discovery and a 10 bagger if the oil zone is a success as well.
Got to one of the best bets on AIM at the moment. imo

Got to be close to a bargain at this price.

Like i already said we have gas there as previous drilled well.

Pressure built up in the Annulus and the well test had to be suspended till cement problem rectified.
The HSE would not allow the testing to go ahead and suspended operations till rectified.
Then the oil price collapsed and everything was put on hold.
Rathlin also had a lot of debt at the time.
So now we are going to drill right next to the same well again with new well completion and a decent and proper cement job and go even deeper this time to test a probable oil zone.
I believe that they discovered a perforated a 20 m zone ready for testing last time as well.
So in my opinion that is why we have a 72% cos with top zone.

https://drillordrop.com/2019/04/26/drilling-starts-on-second-well-at-rathlin-energys-west-newton-site-in-east-yorkshire/#more-73899

Most AIM always drop on Spud.
Will start to tick back up very soon

If we have a discovery we can always sell on so no need for us to take it to production.
Nice choice to have.

Ponkey
Just telling it the way it is.
Like most investors in this share if i sold now i would be selling at a loss so got to stay put and hope we are not being deceived and TE-10 flows successfully and is also commercial for all of us.
JP should at least release an RNS with an operations update as all the deadlines have been missed or delayed.
We once won an award for the best company on AIM regarding communication with shareholders.

I still think no news is bad news.
To quiet for my liking which is not like JP.
He loves to spout of good news as soon as he can. imo

Reabold have it as a 72% cos

Reabold is pleased to announce that drilling operations have commenced at the West Newton A-2 appraisal well, onshore UK.

Drilling operations will first consist of one well drilling into the Kirkham Abbey Formation gas discovery, de-risking 189 BCFe (Billion Cubic Feet equivalent) Contingent Resources, before then targeting the deeper Cadeby Formation oil exploration target which has gross Prospective Resources of 79.1Mmboe (million barrels of oil equivalent).

Pre-drill estimates ascribe 72* per cent. chance of success and a gross NPV of $247** million for the Kirkham Abbey Formation discovery and a 24* per cent. chance of success and a gross NPV of $850** million for the Cadeby Formation prospect.

In a success case, West Newton offers a fast pathway to monetisation through its proximity to existing gas pipelines and infrastructure in the local area.

Slow but steady does it.

California bread and butter West Newton is the Jam.
Now lets get this SP back up to a sensible level where she belongs.

https://drillordrop.com/2019/04/25/start-date-fixed-for-second-wressle-inquiry/#more-73891

If we only have 11 mil in cash then we will have to fund raise before we drill TE-11

No doubt about it.
This will be a game changer for us if a success.
West Newton could be the largest UK onshore gas discovery ever.

245 bbls/pd and soon you can add VG-4 increased rate of 500bbls/pd and 2 Monroe Swell wells which could add 300 bbl/pd net to us.
So we could easily be producing 800+ bbls/pd net in a few Months.
Now do the maths at $75 bbl.
Now that is just the bread and butter as West Newton and Parta could be the Jam. imo

Yes but TE-10 will be stimulated and as long as it is 1.5 - 2 mmscf/pd it will be commercial and tied back to TE-5 horst for production.

I think major decisions will have to be made after TE-10 results even if its good.
Do we just sell on or do we fund raise to test TE-11
They will not go ahead and drill TE-11 unless they have funds available to see it through and include to well testing costs if successful. imo
Whatever happens we will need money in the bank to take us through any negotiations for LQ event which could take at least 6 Months to sell as long as we get a decent offer.

Do we need the coiled tubing to flow unstimulated from the bottom zones ?
Is the coiled tubing only required to stimulate upper zones where we got the gas sample from.

They must be carrying out well tests on both Monroe wells before releasing the flow rates together . imo

Just saying the way i see it.

Hope i am wrong though and TE-10 flows at a min of at least 2 mmscf/pd