Member Info for miker444

Badger prior to Mondays RNS we were expecting gas in the Kirkham Abbey and hopefully oil (24% CoS) in the Cadeby Formation.

Just reading the RNS again and in addition to gas we have liquid hydrocarbons in reservoir form (yes reservoirs) in the Kirkham Abbey (65m column should have just been gas) and saturated oil in the Cadeby Formation which leads me to believe the 189bcf is not only conservative but will be blown away whether in gas or oil equivalent form ( 6bcf per 1m barrels)

Sachin's face in the BRR media interview tells its own story.

atb

In Sachin's interview with BRR media a couple of days ago he is very excited to point out that further drills next year are planned on the wider license area of West Newton in addition to any current activity on site.

If a takeover is planned then the price will be at an almighty premium with what other drills could unearth, we may have another drill or even 2 of similar discoveries from Monday's RNS.

With that in mind I think a takeover will be aggressively resisted unless a major states 'we will make you an offer you can't refuse! ' :¬)

West Newton has the potential and is already well on the way in becoming a $1bn site.

No problem rsproson, I agree with all the potential from the existing projects we already know about but great also to hear Steve & Sachin state yesterday that they are nowhere near finished yet and are constantly on the lookout for further investment opportunities In the coming months and years to come, note the word 'years'.

It also came across, to me at least, that with West Newton success, it has whetted their appetite to go for or at least consider bigger projects than their existing current strategy dictates.

Just wonder what the sp could be in a couple of years time, irrespective I will still be holding every share I have now.

Boblondon good post mate.

Its definitely low risk and agree with the 80& COS, not sure the NPV is that high, thought it was $42m net to RBD, but with multiple wells should be a great asset to RBD.

The whole Parta block is estimated by Danube to contain up to 300bcf and if so will bump up the NPV massively.

atb

The bcf's are tiny in comparison to West Newton but what excites Steve & Sachin is in their words the 'running room' in that there is plenty of scope to adding many more drills, it is a similar comparison to California where multiples of a small amount add up to very impressive production volumes.
Steve & Sachin actually call Parta the 'Jewel in the Crown' and unbelievably is actually the project which excites them the most.
atb

Taverham, just let it settle mate, this is only going one way and before long mm's hands will be tied once the true Mar Cap is realised through monetisation.Gas and Oil NPV of $1.1bn (@$55 barrel) RBD have 24%.
SP only going one way from here
atb

They mean Reservoir :¬))

on site, can be seen from drone footage from share talk link on post below. Perhaps they are putting Gas in Tankers can't imagine what else it could be :¬)

Unsurprising but nice to see it in hard copy in that Eagles Debt shows as Nil as does Liabilities Nil, Net Assets £550k, so at least a blank canvas for a new start up company if it does happen.

Not stating the significance of it but just had an alert e-mail stating Eagle Gas Financial Accounts completed, were due Aug 2019 but have been submitted early ( May 30th ) and now up to date until next due May 2020.

£550.1K Assets, that's pretty much it, apologies if this has been stated prior but I did receive it as an alert and it does quote May 30th so pretty recent.

Still names Paul Hayward, Alan Soulsby & Simon Gorringe as Active.

atb

Also the sidetrack into North Colter did throw up significant shows of hydrocarbons similar to the Kimmeridge / Cornbrash layers already producing from Wytch Farm, it is this which may convince them that more work is needed to the surrounding block licenses but will be worth it return wise, let's hope so.
Along long way to go but we are still hanging in there, just :¬)

Hi Brenner agree and that is very true but good that the recent comments from the CEO have come after the Colter South drill so possibly just lucky with the licenses they were awarded with the data that has come back since. They possibly saw Colter as a bit of a banker before the South turned up trumps but not the North, I don't mind getting lucky so long as it comes off.

atb

I have to say ajb I was thinking similar a couple of days ago that it would be best to space out RNS's ( If good news of course ) this would give the sp gradual uplifts underpinning it each time rather than a blockbuster RNS which would be susceptible to a big spike then the likelihood of a partial retrace.
That would / should also temper the day traders If more news expected at any time.

Wouldn't it be great to see a couple of tankers arrive on site.

You have to dream :¬)

Good post zoom.

It states it is for emergency procedures only and no flaring planned at this stage of the drill. Wil be flared at testing stage. Are we not at testing stage?

Hi Greg, I like the words "additional discovered resources", nothing is a given but sounds like its quite de-risked even at this stage.

atb mate

Depends if the pilot light is a 40ft flame thrower :¬)

Timewise whether it's a sprint or a marathon we are still in the race. We are still an ongoing concern and admittedly a long way to go but for those of us that are invested this is good news.

Hi Greg I've been looking at the OGA 31st Round awards over on the RBD site, do the 2 licenses you mention have reference to ADL, accept I could be having a senior moment here so go easy on me mate :¬)