Member Info for Manwell02

yes all looks encouraging, we just need the data to be good once its released and the market to like it.

there was a guy on twitter claiming it was drillpipe on the rack but if you look at the tubing you can see it only has a single white bit at one end. if you compare that to a previous picture of the drillpipe on the rack you will see that it has 2 stripes around it at each end. (which is consistent with most drillpipe) the two white stripes on the DP identify it as being premium.

Hey Rubey, just been looking through the videos & my take is this.
Top drive cover was removed to install the Volant tool (runs casing & tubing). Images of the pipe on the deck is not great but it looks like tubing & it looks like there’s two rows of it. The carousel is empty of drill pipe & they would not trip in singles from the deck all the way to TD to cement up the well, they would have kept the drill pipe racked back in the carousel. So my take is they are running a smaller production string back to surface which will be cemented in place (as the cement truck been seen back on site). The cement & production string will then be perforated when they want to do a flow test next year.

Is the only thing that makes sense to me.

Definitely, deffo all ties in together with what BMD has said as all the big buys have come since his statement. Had good volume today as well so bit disappointing to finish flat. Looked at the chart & looks like it’s sticking a middle finger up at us ??

Morning BH, no worries.

Yeah there’s been some chunky buys which we haven’t seen for a while. Let’s see what today brings.

You can view all the comments / tweets by just putting #ujo in the search bar. I don’t have twatter and that’s all I do.

This is the critical logging & we should all know the results soon.

https://mobile.twitter.com/GeorgeB19652066/status/1335994648867852289

Somethings leaky I reckon. Big buys today in both companies combined with Wireline being on site at the most critical point.

Wireline now on site according to twatter

Wireline on site going by the pics on twatter

My trade today is showing as a sell so I wouldn’t read too much into what’s shown on the trades list on here.

Hull Pete you've been a very naughty boy...….

Feeks, if you haven’t already take a look through this presentation. The Deltic bid was a cheap shot & their board did not like it. It caused the Deltic board to talk down WN which has the same geology as one of their assets in the SNS which Shell have farmed into.
https://reabold.com/wp-content/uploads/2017/10/Corporate-Presentation-February-2020-FINAL-05.02.20.pdf

Feeks
1) The offer was deemed to be undervalued (we all know it was & it was just a cheap shot)
2) Deloitte CPR assessed recoverable gas of 189bcfe (31mmboe) valued at NPV1 $247M. RBD interest is 56% so values the gas at $138m.

Could do with some good quality drone footage to try & work out where they are at.

Unable to buy on HL which is a joke

I’m not a UJO holder but I can tell you the biscathorpe drill was not a failure. When they received the initial data it was deemed a failure so p&a was decided. However upon review of the data certain parameters were incorrectly input, thus making it more commercially attractive.

UJO MCAP 28.2m, shares in issue 19.8b
RBD MCAP 26.6m, shares in issue 6.7b
UJO SP recovered circa 16% since WN update
RBD SP flat since WN update
UJO production from 2019 report equiv 50 bbls per day
RBD production from 2019 report equiv 90 bbls per day
UJO - no II’s holding (that I know of)
RBD - Multiple II’s invested @ 0.90
UJO SP 12% increase required to reach last placing price
RBD SP 128% increase required to reach last placing price
UJO circa 10m in cash
RBD circa 4m in cash plus 5m on offer
What are we missing (apart from sellers) that’s holding this down here.

No worries NVG, as I’ve said here before healthy debate is good & everyone entitled to their opinion.

Rubey, Ive come across loads of these small private companies over the years who are formed with a few mates. Most are geologist & from former management positions. To date I haven’t seen any of them deliver.

Chairman - retired from chevron
Director #1- worked in Europe, USA, Oz & Asia
Director #2 - didn’t deliver anything at last two companies
Director #3 - RBD director delivered nothing to date
Victory Project Manager - Was originally a geoscientist working in Venezuela & Ghana
Geologist - worked in NW Europe
Geophysicist - works in Uk, New Orleans, Houston & Oz

Do they really need 3 directors & a chairman.....

All back in the UK for one reason......an easy pay packet. Project works will 100% be tendered to the market & picked up by Fraser or Petrofac leaving minimal work for the team. Will then need someone to manage the production if they get that far.

NVG - guess we look at things differently. A lot of money needs to be spent (along with dilution for SH) to bring victory into production. A development well WoS isn’t cheap. Got the FEED, FDP, peoples wages & commercial discussion for the tie in with Total. The current market cap 28m which has the SP @ 0.40, NPV10 net to RBD is 30m (so rough guess without going in-depth market value for Victory is 0.44p) guess time will tell...

S&S wouldn’t know a good reservoir if it smacked them in the face! They’re investment specialists (allegedly)

Just look at the Corallian team & it tells you all you need to know.