Poor RNS. No flow rates because it didn't flow. New estimates of O& G much lower than previous and not to industry standards. Transformational for the company has led to sp at 18 or 0.9 in old money. The same as it was 6 years ago after all this expenditure. UJO not sunk but definitely holed below the waterline.
The thrust of the arguments against the application was the increase from 2 to 8 wells. Maybe if Rathlin had applied for less it may have been successful baring in mind that they haven't managed to get any oil to the surface yet
Certainly well traded today. Future looking much more rosy financially with the income from Wressle.Biscathorpe not a problem unless drilling date brought forward then it could require a placing for funding as drilling and testing doesn't come cheap.
The production of 200 barrels per day from Wressle is certainly a boost of steady income for the company as previously only about 50 barrels were produced from both Keddington and Fiskerton airfield. Whilst West Newton has been the news headline for months it will only be additional income if it is massive volume producer as UJO only has 16.7% interest. There may be more importance from Biscathorpe if that produces anything.
Significant drop over the last few days. Is it due to delays in the commissioning of the plant due to the contrator being sacked. Discuss
All seemed so positive when the ewt was mobilised and the sp hit 40. Although no news either good or bad has filtered out the sentiment is rock bottom and we are at 33. Can only hope for something soon but this company has a history of overhyping and being a jam tomorrow company.