Member Info for Manwell02

Commencement of operations are targeted for fourth quarter of 2026 subject to additional regulatory approvals and equipment availability.

The way I see it is KB have the to come up with some funds for WN, in return Rathlin will sell them some gas at a discounted rate to mine Bitcoin. A pipeline will be required to tie gas production into the grid. Still a lot to do to get to that stage. A2 well has to flow then horizontal wells need to be drilled and put on long term testing. EPL isn’t going to come into it for these guys as they’ve got years worth of losses and investments to recover first. I think they can recover all losses from 2022.

In my opinion the for sale sign will likely be put up if they get good flow rates from a horizontal well.

Https://www.360energyco.com/faq

360 Energy recommends at least 300 Mcf/d of consistent, stable flowing natural gas at a single location. Volumes below 300 Mcf/d are doable but have impaired economics where as volumes in excess of 300 Mcf/d have better economics.

Rathlins full response below.....

The work you are referring to is routine wellhead maintenance that Rathlin Energy (UK) Limited undertakes annually. This has been done over the last few years in the same way, which is slightly odd that it hasn’t been picked up on/queried previously. The maintenance team has been on site for a couple of days now and will be finished tomorrow I am reliably informed.

“At the moment, I don’t have any update on the reinstatement of the community liaison meetings/comms. As soon as I know more I will, of course, let you know.”

Hey GP - They did an acid wash and nitrogen lift on A2:

An acid wash and squeeze performed, a total of 11.5m3 was injected and squeezed into formation at initial pressure of 1740psi; no pressure was seen at surface following acidization.

A Nitrogen lift was performed; small quantities of gas flowed to surface, but no formation liquids were recovered at surface.

Meant to get back to you the other day, the PRS CPR is on the Reabold website. I remember reading it a while ago about the play and how it extends from WN all the way through to Poland. Also what's your thoughts on the flow rates of Pensacola Well, which is a Zechstein play. As that's the closet offset data we have to go on. I know Shell drilled an additional well there the other year but flow rates have not released yet, also think they went up dip so would have expected to seen higher flow rates.

"Post acidization, the well flowed gas at peak rates of approximately 4.75 mmscf/day declining to 1.75 mmscf/day after 12 hours of the test. Being located down dip, the flow rates observed during the well test are not expected to be representative of flow rates of potential future production wells, which would likely target the central part of the Pensacola structure and are expected to generate higher rates"

This was a vertical well and reservoir contact was limited but it flowed which is the key point. There is also a RPS CPR for that well on the Deltic website.

Thanks GP and agree on the timeline for the squeeze, they've got to submit their squeeze plan to the NSTA 3 months before any ops can take place so if that goes in now we are looking at a June start.

Hi GP - interesting comments.... I'm no expert on rocks but understand the basics, what do you think Rathlin have seen that makes them think it will flow? one wouldn't expect them to go full steam ahead with development planning of additional wells and spend additional money on the proppant squeeze. If connectivity is an issue then surely this would have been picked up and they wouldn't progress with the project. Have you had a look at all the logs and reports for each of the wells? as keen to know your thoughts on those if you have.

Looking at the A2 log, they perforated the oil section 1739 - 1761 which we thought this play originally was, the gas section above has fair to good porosity, 1715-1742. This is the section which they are going to perforate on the proppant squeeze.

After the nitrogen lift they did get small quantities of gas back but no formation liquids were recovered at surface. all this was done with the formation damage from WBM and from further tests they know it should react better with OBM.

WN is all down to getting A2 to flow now, which wont be for another 3 or 4 months. Just need it to flow but if they could get 300> mcsf/d from this well then even better.

Luckily WN doesn't need to be fracked....

For those that missed it check out the October Corporate presentation as it has some details in there.

https://res.cloudinary.com/investorhub/raw/upload/v1763032283/leaf-prod/786/documents/Reabold_Resources_Corporate_Presentation_October_2025_ohmhux.pdf

such a frustrating rns to read from a technical point of view. after all the data gathering, analysis and well modelling they still decide to go against those results and drill highly deviated because its cheaper. do it cheap do it twice.

rich data set from drilling and testing will inform drilling of first optimised horizontal well (b-2).

horizontal wells will expose significantly more reservoir to the wellbore and allow for enhanced productivity potential.

all future development wells expected to be horizontal.

rps modelled expected rates based using an optimised completion method and horizontal well.

modelled 35.6 mcfd gas flow (5,900 barrels of oil equivalent) as daily average rate for first month production.

the feedback from all the data sounds really good and promising doesn't it jv team - i think if we drill a horizontal well it could potentially unlock the whole field - yeah it does, but i tell you what.....why don't we drill highly deviated and go and look at a new target when the projects on its ****! excellent idea - it will be cheaper and it wont produce as much but at least we get to look at something else. (said the geologist)

Some interesting flow data released on the Zechstein.

https://www.arcgis.com/apps/webappviewer/index.html?id=0108f4b015a9439e85bad47fe78f20bc

Go to tab exploration wells by well result - then down to well 42/15a-4 - 26.5mmcf/day & 114bbls of condensate.

“Kamran will do exactly the same with West Newton for us shareholders an will get it drilled by bringing in a partner an by sharing the risk”

What risk? Project already significantly de-risked. Whichever of the chancers is running the company I hope an additional partner doesn’t happen. Whatever the outcome of the latest shenanigans is, we can be sure of one thing only. It’s a lose lose for us!

It’s like needing a baby sitter and only having the choice of Gary Glitter or Jimmy Saville!

The relinquished licenses have been announced to the market. You and others just missed it.

Shell were only involved in one out of the four licenses. Three have now been relinquished & 1 retained.

It was announced

It’s not £1million, it’s 500k

As an investor in the company you should know the answer to your own question. Maybe stop moaning and do some more research.

Rathlin currently raising funds to progress WN.

Simwell held an adjacent license next to pensacola which is split 70/30 with Shell. Its the same play as WN.

No, its been P&A'ed as planned. They would drill a new horizontal well in a better location to target a better area of the reservoir.

Good result over at Deltic - another box ticked for us and possibly a very good bit of business for the Simwell licenses.

The vertical gas flow rates post acidization were pretty much bang on the money of the modelling we got done.