Member Info for PDMSPiper

Sell off on Wressle news here will be brutal. No price catalysts coming out of WN until late autumn. Ujo sp will be drifting all summer. RBD currently 20% under placing price and that’s where the MMs want UJO. They want ujo and RBD pegged together going into WN. Ujo will be 20% under placing price by the summer.
My target to buy UJO is 0.12-0.13 over the summer. Patience pays. Sell the Wressle news then keep your powder dry to buy the new bottom here. GLA.

Comment on their Facebook post that is

The comment from local John Harrison regarding a new access road is an interesting one.

Backwardsman; You’ll care about it in the summer when your SP has drifted back below placing price waiting for it to be finished. You’ll all be posting and whining about it every day then. Lol.

Shi7etalker: The op refers to crossing fields. Look on the map. It’s a long road. It will require a substantial hardcore base and excavation otherwise heavy plant will just sink in the mud. You can’t just drive heavy plant across fields and expect it to hold up. Clown. It’s become apparent to me that you have no grasp of even the basics of engineering or construction in any of the areas you are invested. Useless.

Instead of screaming and stamping your feet, contact the locals on Facebook and find out how they know this, as I have....

Post on Facebook from a West Newton local. This could take months.....

“no roads closed as yet. Rathlin are due to construct an access road to the site, running from Pasture Lane over the fields to Crook Lane. The Pasture Lane closure is the only one that will cause a slight inconvenience to locals, next to no one will notice the Engine Lane/Crooks Lane closure.”

Lunus, what sort of investor holds his hands over his ears and screams during discussion of a serious development of news concerning an asset in which he is invested. The behavior of an 8 year old and guaranteed to lose you money. No wonder many on here are locked in underwater. A great stock to trade though with all the obsessive evangelical holders. Retail love. Brilliant. Bring it. Ha.

On the plus side Rathlin and Reabold must be very confident if they are buying land and building a new road. On the minus side the process of building any road properly that doesn’t immediately deteriorate into an impassable quagmire is a lengthy process involving excavation, drainage, laying of hardcore, grading etc.
undoubtedly a process that will take a number of months.

Post on Facebook from a West Newton local. This could take months.....

“no roads closed as yet. Rathlin are due to construct an access road to the site, running from Pasture Lane over the fields to Crook Lane. The Pasture Lane closure is the only one that will cause a slight inconvenience to locals, next to no one will notice the Engine Lane/Crooks Lane closure.”

“Following i3's 2019 drilling campaign at Serenity and Liberator, the Company is now preparing for a mid-2020 appraisal programme to delineate the fields which the Company believes could contain more than 600 MMbbls P50 STOIIP.”

Are the company fully funded for this 2020 appraisal program. Looks like a placing could be due then.

For clarity, I’m very bullish on both UJO and RBD in the longer term and I’m sure that WN will prove to be a significant discovery given time. During that time there will be significant swings in both stocks, all of which will be heavily traded by many on here who spend all day encouraging people to hold and sit on losses.
I wouldn’t touch UKOG. The stock is dead in my opinion. Squeezing muddy sludge out of the weals will not take ukog back to 500mill Mcap that’s for sure. Sanderson still not bought any stock so he sees more dilution coming. No competent peer reviewers will sign off a cpr for any of the assets. Ukog is uninvestable in my opinion whereas the prospects at ujo and RBD remain highly attractive on a risk v reward basis. GLA.

for a small profit this week. The delay with Wressle approval has made me quite nervous and I fear that it might now not result in a positive outcome for the company. With the constant positive rhetoric surrounding the verdict and all the “its nailed on, it’s coming” noise I feel the market would react very badly if it does not go our way and the drop could be quite dramatic.
If the approval is positive then I expect a 10-15% spike that will be heavily sold into and for the stock to settle back under 0.18, roughly where we are now.
I felt the derisk was well worth doing to protect my capital as the prospective profit I miss out on will be minimal.
I will now wait for activity at WNA2 to restart before buying back in. Good luck all.

At least the Mcap has five bagged Lucky. Lol.

Jam tomorrow followed by another year stuck in a fkn Uber with the doors locked.

Lol @ Boom.... “Expecting share price above 0.25p on Wressle approval...”

So you’re forecasting a 60% rise on the RNS merely to confirm an event that as investors, we have all accepted is going to happen? Really? The RNS confirmation of Wressle approval is a formality. When did a share price rise 60% on confirmation of a formality? Lol. Your Unicorn taxi to rainbow land is waiting.
More likely is a 12-15% spike followed by an afternoon retrace. Be realistic.

I agree BWM. But the only surprise here would be an announcement that Wressle has been refused.

Wressle approval is already priced in though isn’t it. If I thought Wressle would be refused I wouldn’t have bought any here.
Do you have money in your account waiting to buy when Wressle go ahead is approved?
No?
Why?
Because you already have accepted it as a nailed on positive decision. So has the market.
That’s called “priced in”.
Expecting a similar situation to the official RNS release of the WN volumetrics: A spike that will be heavily sold into followed by a flat finish. Just my opinion.

Personally I don’t think the drilling order matters. They had two more planned wells and have named them VG5 and VG6. They have decided to drill VG6 first as they obviously think it has the best chance of success. I don’t have a problem with it.
What I’m more concerned about is the level of cloak and dagger reluctance to update us with flow rates and definitive production data for these assets.
Where is the production data for VG4 after completion of the gas tie in. How much gas? How much oil?
Where is the production data for Burnett 2B after it was constrained to 40Bopd because the production facilities couldn’t cope with more. They said work would be completed to upgrade in 2 or 3 weeks and we’d be updated. That was months ago. Nothing since.
We only got the WN volumetrics because Shotgun Dan leaked them.
Why are they so shy about updating on the assets when they know this is a news driven market.
It’s almost like they want the SP down here. Why? It’s fully in their power to provide all the information required to give the market what it wants and propel this share price higher. Why don’t they do it?

I’m not convinced that they will get environmental planning consent to flare oil at this location being so close to a residential area given that they have already had complaints about smells.
The terminology in the RNS has been carefully chosen. The incinerator is not a flare but an incinerator of the Regenerative Thermal Oxidiser type that we use to oxidize organic compounds in emissions and cut down on odours. We design these into refinery installations routinely now.

That would have been largely impossible, except for perhaps oil droplet particles in suspension. I have analyzed the photos of the site and the flare. The flare had a Forced Draft Induction fan at the base of it and as such was only capable of accepting well fluids in gaseous form. Impossible to put liquids through a fan although this could explain why the test was suddenly halted. Rathlin did say however that no liquids were recovered to the surface.