Member Info for PDMSPiper

“I still maintain it wasn't necessary. There was enough cash for work to start at Wressle and for the EWT at West Newton A”

Bramhill raised when he did because he obviously knows the EWT at West Newton A isn’t starting. It’s been abandoned. Come February when it still hadn’t started and we all realized there would be a 6 month wait to the next drill his odds of raising the funds would be significantly reduced. That’s why he had to raise when he did. West Newton is a big discovery. They have a plan that involves hanging around for 6 months for the next drills but they don’t want investors thinking they can leave and come back later so they aren’t currently telling us that. I don’t blame them really. I’m in long term but short term happy clapping traders who thing there’s a profit here in the next few weeks on their expected news of WNA-2 being reopened are going to get burnt. It won’t happen. It’s been abandoned until WNB.

We’ve already seen that permit BWM. It’s been discussed at length. It was passed on 6/8/19. The well test was terminated on 29/8/19. That permit is for a crude oil tank, yes, but it pertains to the original test that was permitted for gas. It doesn’t constitute a permit to flow oil, flare oil and test oil. Obviously when flow testing a gas well a certain amount of liquid hydrocarbons are expected to have to be dealt with. As the company had no permit to flare oil and the flare was not engineered to take liquids then obviously storage is required.
The fact remains more permitting is required to pump oil and to flow oil. Nothing applied for anywhere since that tank permit was approved on 6/8/19, even though Rathlin is minuted as saying that they were waiting for a permit to pump oil.
If that’s the case where is the permit?
Where is the pump permit Rathlin have applied for?
Where is the necessary permit application needed to flare oil?
Where is the application with the Health and Safety Executive?
There isn’t any. As I said. We’ll be waiting for drilling of WNB wells for any testing now. It isn’t looking like they are going to re enter WNA-2 now, even though they said they are. I don’t know why the plan has changed but it’s about time we were told.

I don’t care what anybody’s analysis of my position is. What I care about is seeing evidence of resumption of WNA-2 EWT as promised. Currently I can’t find any. Can you find any? I suggest everybody invested do less useless psychological profiling of third party posters and more research on what’s happening with our promised flow test and why it looks like it’s been abandoned. Only a suggestion.

before buying more here. I want to see permit applications for the EWT and an RNS with a start date for the EWT at WNA-2. I want to be satisfied that Rathlin are pouring the money Reabold handed over, back into WN as contracted. Until then there is significant risk and downside here. If there’s no evidence of EWT restart and this rises on nothing then I’ll be getting out with the placees. If news of EWT drops I’ll buy higher at less risk but I’m not buying here. Currently this is a hold for me. No EWT resumption news by end Jan then it’s an alarming sell and I’ll be out at a loss. GLA.

WNA2 flowed, so they say. But there’s no data. The point I’m making is that a CPR was produced and signed off by Deloitte before a definitive flow test was conducted. There is no flow test data in the WNA-1 CPR. That is the pertinent point. I don’t care if they flowed it for a few hours before shutting it in. That’s immaterial.

For resumption of the well test as an oil well. Rathlin’s brief to the residents committee said there was insufficient energy in the wellbore to flow liquids to the surface and the testing has been paused for a permit application to use a pump. I can’t find any such permit application online. There are no planning or permit applications pending with the council, the OGA or the HSE. They were full permitted to flow and flare gas. Do you think they just rock up with a load of oil kit and start flowing and storing oil with no recourse to the OGA? Of course not. Where are all the permit applications?

There’s a lot of bull on all the websites, Reabolds and Rathlin’s. RBDs presentation also says that the EWT is scheduled to resume in Q4 2019. That’s not now going to happen as no permits have even been applied for. Rathlin obviously have different ideas and a different schedule than RBD. You can forget everything RBD have told us. They aren’t in charge. Rathlin are. The penny will drop eventually. You’ll get it.

Here to discuss facts and research Barking. I’m not into happy clamping Uber ramping bull sheet. That’s on twitter. Instead of ramping it with rockets and silly predictions get online and find some evidence of the required planning and permit applications for the reconfiguration of WNA-2 as an oil well. Nothing on the council website. Nothing on the OGA website. Nothing on the Health and Safety Executive website. They said Q4 for EWT. I want to know what the fk is going on. Enough bull 5h1t!!!

How much does the Market Cap have to rise to take this from 0.74 here to the placing price at 0.9? How many millions more on the market cap?

No action at West Newton = No action on SP

Simple as that. If there’s no news on a WN flow test by mid Jan then there’ll be a trader/Pi sell off here and this sp could well be down here and lower. Especially if Miton need to get out. M&G are already in trouble having their property funds. This went to 0.55 last time with a bit of selling and a gap in news. I wouldn’t buy here until West Newton forward plan re testing is confirmed. This could end up a lot lower with a sell off.

The CPR for WNA-1 wasn’t ignored was it? Even though there was no flow data in it, that CPR has resulted in almost £30Million being invested into Rathlin for West Newton. I’d say the strategy worked out pretty well for them.

Who told you that? That isn’t what Rathlin and Connaught did with WNA-1. They commissioned Deloitte to produce a CPR without flowing WNA1. That well has never been flowed. Do some research instead of just flapping your gums. The Deloitte CPR for WNA1 has worked out pretty well for Rathlin. It attracted RBD, UJO and Humber. There is no reason to suggest they won’t go down that same route again and commission Deloitte to produce a CPR without flowing WNA-2, just like they did with WNA-2. That is my rationale for drawing that conclusion. What evidence do you have to say it won’t happen or are you just stamping your feet? Back it up. I’ll be waiting.

0.75 to 0.9 is a 20% rise and I doubt it will happen without news of Recommenced works at WNA-2,re flow test and there is no sign of that.

It might well double again after the drilling and testing of WNB wells next July/August/September but if there is no news of planning applications for flowing oil from WNA-2 by January then the market will start to latch on to the likelihood that it isn’t happening. Then we get into Feb/March with no WN flow test and developments and where will the SP be then. This will need WN news to get it up to 1p and churn all that placing overhang. What news catalysts are you expecting to move this to the 1p you mention and when?

Unfortunately it’s not looking like the West Newton flow test is going to proceed from WNA-2. No evidence of planning applications anywhere. The company’s own presentation says that the Kirkham Abbey will be appraised from WNB-1. Both WNB drills, 1 & 2 into the Cadeby have now gone out to H2. It looks like we’ll have a 7 month wait forvany further developments on West Newton. They can try and soften the blow with a CPR and Parta flow test and Cali news but it’s all about WN now. They are so heavily commited that only positive WN news will move this IMO and it’s not looking like we’re getting any. Not until next summer. We’ll be sub placing price for well over 6 months now, just like last time when they raised at 0.85 and we sat at 0.65/0.75 for over 6 months. Same again coming.

Backwoodsman;

“You’re wrong with this statement Piper, ‘ My guess is that next news will be an updated CPR with a paragraph informing that the Kirkham Abbey oil discovery will now be tested and appraised from WNB-1.’

The EWT comes first. No CPR until EWT complete.”

BWM; Rathlin and Connaught will be in charge of that decision. I based my conclusion on the strategy they followed with their last well, how that worked for them in attracting investment and the likelihood of them employing that strategy again. Only by answering these questions can you make a reasoned assessment as to whether or not a CPR will be commissioned without a flow test. DYOR.

We must bear in mind though, this is what Cali Joe said only days before UJO issued the RNS stating they were sounding out the market for a placing....

************** on Twitter: "#ujo. For anyone thinking there may be a fund raise, please note the post below. Also note that as of two weeks ago, there was £2.8m in cash in the bank and the EWT paid in advance. UJO are one of the few darlings of AIM and the only institutional door still open to West Newton?? https://t.co/GsIbIO8sUm" / Twitter

https://twitter.com/*************01/status/1182588630092734465

Now he says all’s well at WN and the WNA2 EWT will go ahead even though there is no evidence of the necessary permit applications anywhere.

No idea GP. Nothing filed at Ryde Council. Nothing filed at OGA. Nothing filed at Health and Safety Exdcutive. But on the plus side Cali Joe reckons we’re inventing monsters in our own minds and Mighty belle and Snide reckon we’re all just numpties. The have Bramhills number and all the info so they must be right and we’re all just numpties. It seems strange though because only a few days ago mighty belle was saying it was all held up because we were waiting for permits. When it was pointed out that there is no evidence of permits having been applied for he now says it’s because everything is on track and Rathlin are in full compliance, so no permits necessary. Ya couldn’t make it up. They’re having a good go though. Lol.

Yes, just patience. WNB drills now scheduled for H2 2020, so July. Hang tight until then.

Yes you’re right of course. It isn’t a fact until it’s RNSd of course but seeing as I’ve totally failed to find one planning or permit application to reconfigure the well for oil, I have now filed it under “Facts” in my mind. But time will tell.