Member Info for miker444

37h worded it much better than what I intended, window of opportunity is actually getting bigger for S&S in my view. I wouldn't worry about UJO v RBD it's irrelevant and as you rightly say it says a lot about the posters level of IQ or 'intention'.
atb

Hi jimbo, think my post is a bit unclear of its intention, I am not saying for one second projects will not be cashed in or monetised, I think they will at the earliest opportunity. My point is I think the company as a whole will continue for a few more years yet than originally planned and not cashed in ( wound up ) in its entirety.
To look at extra projects such as Central & Eastern Europe will take a few years to bring to fruition from start to finish. The monetisation of projects and not just those projects held for production purposes will make RBD a $1bn company in time.
The dividends could be huge for those who hold several million +, hope they are issued twice yearly :¬)
atb.

cf456 thanks for that, the end of very last sentence is what he stated in a podcast last week that they are looking to similar plays (to Parta) in central and eastern Europe so whilst that is great news and sounds, to me at least, that they already have their eye on something.
However, it does also seem that their initial strategy could be changing a little in that extra portfolio investments means a longer term approach certainly timewise when put against monetisation / cashing in which early days seemed as though it could be just a couple of years or when the window of opportunity closes..
I did voice in a post last year that I did wonder if S&S would be tempted / could not resist (if successful) to prove themselves to the market and all those in Fund Management in building a significant company Mar Cap wise and have trouble knowing when to stop.
The window of opportunity becomes wider the more successful you are certainly with the additional cash at your disposal that comes with it.
I really do think they will find it hard to hang up their boots for a good few years yet which considering they have the authority to buy back shares, issue dividends as well as 'cash back' that it will benefit shareholders more the longer RBD exists.
atb.

It does suggest ADX have experienced far better results than expected and I agree it will be to pre-empt trading on price sensitive news ( to those privy to that info and there will be some ) before its released to the market.
Either way it looks like good news.
atb

Hopefully we will get an update this week, it is due now although the explosives permit needed for perforation could run on indefinitely and hold things up.
Just need another decent uplift from the next well which could get us in to bed with CAV and more importantly the 33bcf from the Selo field.
atb

They really press on the subject in anticipation of high reservoir pressures, lets hope so.
atb

Have to say doubleup if it was just 1% then to get 30 bopd they would need a daily volume of 3,000 bofpd ( three thousand).

They are producing 450 bofpd so to get 30 bopd from 450 bofpd is actually 93.7% water cut.

We could see another 70m - 100m added to that as it was the Cadeby Reef formation which was expected or should I say hoped to contain the oil. The 40m 'condensates' pay zone was not known about.
The Cadeby did have an oil saturated core so possibly same again .Need more zeros on my calculator :¬)

BTN -01 rig reinstated and oversized pump to be used and production in next few days so the well has been descaled and we could get production figures next week from that.

Hi double up, it's just good that they have gone from 4.5 bopd to 30 bopd from one well and if they increase 7 beats to 10 then volume alone could take it to 40.
This is the RNS they should have waited to put out and not the 4.5 bopd which was just pointless and had a negative effect.
Lets see what other wells come in at, the new layers could be interesting that have not been perforated yet although sounds like explosive permits still not cleared yet.
atb

That's more like it 30 bopd from just BTN -14 and others coming on stream by end of month, still reading it, much better.
atb

Thanks Rambo, I agree, Steven Williams was quite specific about the oil taking precedence in importance if there was enough of it. Obviously no one will walk away from a possible 300 bcf but that will probably take second billing to the oil.
It does beggar belief if the second wells can prove up similar 70m - 100m barrels, this is a multi-billion $ project in the making imo.
atb.

stupid question but I will ask it anyway, If there is 300 bcf of gas and a 100m barrels of oil obviously both incredible and both worth having even independently of each other but could the gas and oil be extracted at the same time seeing they are at (slightly) different depths.
I only ask as Steve & Sachin stated that oil would take precedence over gas but with such a huge amount of gas surely it will be tempting to have your cake and eat it.
atb.

Hi Helpful I also listened to that and I agree with the content you state, he actually as I posted a week or so ago wants to increase the nodding donkey rate from 7 'beats' a minute to 10 or so which will then realise a volume of 600 bofpd from the current 450 and therefore should get to nearer 40 bopd at 93.7% water / oil cut.
My point in my post was that the rns was unclear as to how income, albeit small, was coming to ADL, as it starts from 70 + bopd.
On a brighter note they both did state that they are hopeful to still come in on target of 150 bopd, just a shame it will have to undo how the 4.5 bopd was received and interpreted, but we can't go back!
Just have to wait and an even bigger wait for CAV and Selo gas but one step at a time lets get to 150 bpd first!
atb

As ever Simon many thanks for that, had hoped that would be the case and I have no opinion of BMD good or bad just wanting to temper the other comments of him for and against of whether he could have the information he states. It has been the general gut feeling, especially with Dave Bramhill's body language and demeanour in interview's, that it will be more along the lines of BMD's figures anyway. Lets hope so.
atb

If the expected EWT is going to take 4 - 8 weeks and it is these tests (that have not started yet about to start) which will determine the size of WN regarding volumes and flow rates will the 'data' that BMD is quoting on twitter actually be known yet / exist?

I think we all agreed at the time that clarity was needed and it was poorly worded. No income is due to ADL until after 70 bopd so the total at the time of that update was 74.5 bopd??
It also was not a production rns update so whatever side of the fence you are on it really will be down to a final production rns at the end of the month (ish) to give just that, the facts, and not for people to have to decipher the wording of the rns content. Another 2 - 3 weeks before we will know for sure.
atb.

Thanks ajb, I know Monroe Swell needs cleaning up and other wells are planned but VG-4 is now producing unhindered by gas or any other issues and just wasn't sure on average as to how long it takes to establish stable flow rates.

I accept all wells vary from each other and there is no fixed timetable but come Friday it is 3 weeks since VG-4 'gas tied' in and was put on production therefore would anyone like to hazard a guess, educated or otherwise, as to how long generally it would take to record a stable flow rate and hence when an update is likely.
atb

£150k in 3 buys, that's more than a punt and sp still resisting, mm's hopefully will be short of stock soon.