Member Info for miker444

Good Morning all, back from Hols, anyone putting in questions with Camarco for S&S to address at AGM?

GP / BH many thanks for the reply, it's a lot more than I know, although that's not saying a lot :¬), but it does seem the pressure is substantial and no reservoir depletion so if the acidisation is successful then looking good. WN may be the big one but Parta does appear that monetisation will be relatively simple and any cash coming in to the coffers is to be welcomed.
atb.

3046 psi pressure, will need the like of GreyPanther to give his thoughts if that is sufficiently high enough pressure, it does state porosities of 20% and no reservoir depletion. Just need to overcome the mud filtrate build up ( expected) with acidisation.
It does appear promising but we will wait and see.
Also an influx of reservoir fluids ? Are we talking condensates which are common with gas ?

GP over to you mate if you don't mind.
atb.

Jiff excellent posts mate, sounds positive with the pressure build up, at this stage at least.
atb.

Hi Rubey I don't have a problem with anyone on this or any other board but like facts to be correct, as you and I both know there are no environmental issues whatsoever at West Newton.
I wish all Delt investors the best and hope they make money which is the common denominator that all us PI's want to share.

June 16th apologies.

As per June 20th RNS titled Carbon Intensity Study, well worth a read imo.

FD can I just ask what the environmental issues RBD have with West Newton. They have been given the highest possible rating of AA for emissions which has been extremely well received by the locals and planning depts. alike. Swampy cannot get anywhere near as road closures are in place and will remain so for 18 mths, genuine question mate.
atb.

Rubey a part of me does wonder if Reabold want to actually produce at some stage and get the benefits of POO and not $11.50 or whatever oil in the ground. Goes against their initial strategy but they will know how to get maximum cash for shareholders, some big II's will want something back and that's why I see a decent one off dividend as nailed on.
atb.

as 24% in simple maths terms i.e 1 in 4 (ish) chance.

I am sure most of you already know but for those that do not the CoS in % terms is a multiplication of 4 individual factors, namely:

The presence of mature rock (% multiplied by:)

The effective hydrocarbon migration (% multiplied by):

The presence of an effective reservoir ( % multiplied by:)

The presence of a hydrocarbon trapping mechanism

So to get to an overall 24% CoS we have to multiply individual % rates of each of those factors and believe it or not if every one of those 4 factors has a 70% chance ( simple maths terms ) you would get 24% CoS. as below:

70% x 70% (is 49%) x 70% ( is 34%) x 70% is 24% Cos. Normally the industry does not give many CoS ratings higher than 31% due to how it is derived.

Interesting, not really, but it is not calculated as you would normally expect a 24% would be and therefore 24% CoS has a pretty decent chance, of course one of those factors could be 95% and another 20% but the mean average overall is 70% per.

Just Saying. :¬)

Hi Rubey, all I know is that with the PEDL Licence covering 176,000 sq km that it was mentioned on more than one occasion by both S & S and Drave Bramhill that it looks like we may have another mirror image of West Newton possibly 2 within that large area, so it is feasible we could sell and get the same again by moving just another few kilometres.
Perhaps we can have our cake and eat it :¬)

Didn't remember seeing the gross figure from Cadeby but happy to stand corrected, I suppose if 79m barrels are recoverable then it goes without saying that the gross must be considerably higher. The good news is not only do we have 15% porosity (from logs) but additionally they state it is naturally fractured as well, so one would assume it should not be beyond the realms of technical ability to have a good chance of getting it to the surface by some method or other.
atb.

There is actually some detail in this which as far as I remember has not been released before. The main one for me was Cadeby volumes, I knew about the 79m barrels recoverable but I'm pretty sure the upside of 146m barrels gross for Cadeby ( not Kirkham ) is new data release, also I have not seen it mentioned that Cadeby could eclipse the 45m oil column of Kirkham Abbey.
If so this is very encouraging and fantastic total volumes could be achieved if both successful. It would certainly be a $1bn - $2bn play.
atb.

Rubey, if that is the case and it flows that freely then it improves the recoverability % rate, hopefully 30% + might not be beyond the realms of possibility. I do know condensates can command a higher price than the going rate of Brent.
Fingers crossed.
atb.

I think so too.
:¬)

Until the EWT are complete we just won't know, the Deep Cadeby Formation is where, if any, they expected to encounter oil and in the presentation it quotes 74m barrels recoverable hence the $850m NPV ( @$11.5 a barrel in the ground ).

If we can get just 1 out of the 3 to be as expected, the Kirkham Abbey Gas, Kirkham Abbey Oil, or Deep Cadeby Oil then we are as far forward as initial expectations prior to the first drills, if 2 come in then fantastic, if all 3 then myself and a few others can retire, the sale of brown paper bags will go through the roof ( I will be joining BH ).

The big question GP is as you stated before, 'does any of it flow' or at least is able to be got out of the ground.

Time will tell but the geologists at Rathlin and UJO seem to be optimistic and hopefully they have a lot more spec to go on than has been released to us mere mortals ( I bloody hope so anyway ! ) that said, it's obvious you know your stuff and nothing is a given especially in the high risk oil & gas sector.

atb.

BH, genuine comment just think what the markets would do for RBD if an RNS was issued, IF WN was proven up, stating that RBD is now in talks with an Operator based at Humberside be it Chevron, Total, Ineos, Conoco Philips etc.
3p would be snapped up but it would not be available, not anywhere close imo.
atb.

If it is successfully monetised of course.

1.5p on the biggest onshore discovery of both gas and oil in 50 years, are you sure :¬)

Cadeby alone was given an NPV of $850m, If as you say it's as good as expected then $2bn will seem cheap. With 56% then sp of 10p - 12p even just $1bn will see $560m to RBD and a share price of 6p. I would expect half that as a special one off dividend.

If it is as good as we hope.

Too late by the sounds of it but good luck with future investments.