Member Info for miker444

The important part of this rns is the railway, building it suggests a win / win for all concerned even the domestic market.

Agree Betafail, s each day gets us nearer to LOI it could well have a steady daily rise which is underpinned at each step rather than a 'pump and dump' scenario, although no real need to pump this the last article from Casper shows how serious both Pakistan and China view this.

You have hit it on the head leans looks like a billion dollar play at WN but we need the news to occur otherwise we are just static, it will happen but until it does we continue to drift.

Would hope VG - 6 news any time now to add to the production volumes of VG - 3 / 4 and then a stable volume total for all 3.

We know these are self funding so would underpin sp which wouldn't take much at these levels.

A dividend would be most welcome but where would the money come from to issue one? We need monetisation for that or something to put it against.
atb.

It is somewhat frustrating that we have to wait 4 weeks or so for EWT and so we are looking at Easter (ish). However, the hold up is regulatory and nothing has changed in that we still have the potential of the largest onshore discovery since Wytch Farm.
For LTH's like myself I will remain focused on that and as much as I am frustrated along with others of the extra wait Easter will come and go like it always does and we will go from one extreme, of no activity, to the other of activity on several fronts.
atb.

Chrish, First and foremost for me is that a company with enough muscle comes on board full stop. For shareholders it just needs to be monetised and at what stage is not that important if the end aim is achieved, as for a bidding war I believe there will be an industry standard price which can be accepted / commanded by both buyer and seller with logistics such as onshore low costs, in place infrastructure of pipelines, processing, terminals etc taken in to account. The icing on he cake will be S&S returning a decent wedge of several hundred million $ via dividend / share buy back.
All dependent on monetisation of course and none of that possible without the commencement of EWT.
atb.

reaction good post, it is very clear in your first sentence you state ' if things are proven up as expected' so in that case it will attract a lot of interest, may not be Shell or BP but their are some big players on site ( Centrica, Ineos, Perenco, Total, Chevron etc) with all the infrastructure, gas pipelines, oil terminals, processing plants literally all over the site.

Yes thanks Badger, all I know is BLOE went from 4p to 17p ish ( from memory) in a blink of an eye when they released a bopd of 1,000 only to see it retrace back almost completely when it was realised the figures had not been stabilised, came in @ 300 bopd. Fully accept differing MarCaps and shares in issue but for small oilies the market does appear to view 1,000 barrels as a serious benchmark.
Just wondering if S&S want to get to 1,000 bopd before releasing to market. If 684 is correct from 2 wells (VG - 3/4) then 316 barrels from VG - 6 would do it. Even as it stands very impressive figures if that table is a genuine article. Would have a good impact all round but as others have said could be overlooking Cali for no other reason than totally wrapped up in the enormity of WN.
atb.

300 bopd with 150 bopd net was stated on the most recent presentation update. If the twitter figures are correct they should be shouting from the roof tops as we are also producing from Monroe Swell and some work overs to boot. VG - 6 could hit the Holy Grail total for small oilies of 1,000 bopd, now that would make the sp move independant of WN.

Hi ajb, there have been similar posts on twitter recently with snapshots of production tables / figures from California but I question their validity, love them to be correct, but S&S state in an RNS of 300 bopd total with the 50% interest meaning 150 bopd net to RBD.
I would expect the official figures to be correct otherwise it requires an explanation as you state why have these not been released? That said prior to stable flow rate figures the unconstrained rates were much higher with 1 well coming in above 500 bopd so some clarification may be in order, sooner rather than later imo.
atb

1 Buyer then that's good, we are not experiencing a pump and dump due to a ' positive' twitter post, also suggests most are loaded up and waiting on official news updates, which is also how it should be.
Always Invest to your own agenda criteria and DYOR , do not be taken in by the herd mentality or twitterati.

Cadeby alone has an NPV of $850m (@ $11.50 oip)with net $340m - $425m to RBD. S&S have always stated their strategy (once projects are monetised) is to return the bulk to shareholders. This will mean dividends (and a possible % share buy back).with the bulk of it and some retained for further projects etc If the Cadeby is worth that alone then we are looking at approx the same again for Kirkham Abbey ( 146m - 280m ) mean of 200m barrels @ 30% - 40% recoverable.
Is it not worth the few months wait.

What does it really matter if it's a few months later until it gets sold so long as a major or two are interested in buying. Looks like Rathlin know how to maximise the chances of hitting the pay in Cadeby Reef Formation and remember that was expected 79m barrels recoverable, yes recoverable and I suspect could be significantly more seeing as we hit between 146m - 280m barrels on the way down (not all recoverable) so thermal conditions and depth appear to be increasing the chances.
My point, it will be worth the wait for a few months more if need be and if it is monetised then a decent chunk of the £500m or whatever hits RBD's coffers will be returned as a dividend and it will be considerably more than 1p a share imo but each to their own views but they are mine.
atb.

Oops hit the send button before I finished my post, I was going to say it's the Cadeby which will add more meat to the bone imo. Expected 79m barrels but could b a lot higher considering this was whre they thought any chance of oil would be.
So if we come I at 100m barrels for Cadeby and get the mean average from Kirkham Abbey circa 210m barrels we are looking at 300m barrels onshore. SP will re-rate that's an understatement but as for suspension don't think so. Need to hit oil in Cadeby and that's the icing on the cake.

Can't see a suspension as numbers are known best part with the exception of the Cadeby Reef Formation. We know we have minimum 146m barrels possibly 280m barrels high case and 250 bcf give or take.

The UK is not an oil exporter and falls short by 600,000 bopd, every day, so no matter what oil is on the world market we still need home grown production until consumption meets demand and no need to import it. The glut will affect the oil price but not the fact we do not produce enough for demand in the UK.

Neds to break the 0.17 resistance , hopefully before EWT rns, got the rest of the week to do it.
Heid who is Penny?
:¬)

Heid, the consensus of opinion is that finally the overhang has gone. Orders waiting to be filled and yes mm's appear to be wanting shares.

Hi chris h, Not many people wanting to sell now just prior to EWT, although surely there is still some overhang to mop up? aAs is often the case my buy was put as a sell and I suspect most trades that are showing as sells of similar ilk.
atb

Looks like the mm's games started, £51k Buys v £30k Sells and they drop the sp 10%, surely not mates rates before news
:¬)