Member Info for PDMSPiper

Iamnotananalyst, I really don’t think it matters that few PIs Sell. Who cares? Not me. This has gone further than a little spoofy Oiler driven by prayers and vain hope and sentiment. There is a world class discovery of epic proportions at West Newton. I’ve chucked my buttons in with the 24,000,000 others recently added and that’s where my buttons are staying. Moaning on here so that Bert from Barnsley takes a few buttons out of the pot is not going to make one bit of difference. I could sell all my £250k holding here next week and I doubt the share price would even move. The market is sat on hands waiting for the next move. So am I. GLA.

Are the fund managers of the city pension funds who put £24,000,000 in here at 0.9 wracked with worry that they will imminently lose their capital? Yes or no. Your choice. Don’t like it? Worried? Off ya pop.

Whitman Howard did the last one. Even before the WN discovery it was about 3.4p from memory.

has already been identified before this latest investment in Rathlin was made.
Identification of a viable EXIT STRATEGY from an asset before investments are made is a part of the overall company strategy and has been explained by S&S on numerous occasions.
WN will not be taken to production by Reabold. This work program is to take the asset to the point of CPR and booked reserves to increase its value to a point where the exit strategy will be implemented and the asset will be sold and a special dividend distributed to shareholders.
Numpties in the market still do not understand the Reabold model.

Extract from the Rathlin West Newton Community Liaison meeting notes pertaining to WNA-2, particularly the need to redesign the EWT and apply for a permit for an ESP. (Electric Submersible pump).
Notes of Meeting (7 pm on 29 October 2019)

WN-A2 Update
TS said that before drilling and completing the analysis of the core and logging programme, the understanding was that the target was likely going to be a gas reservoir. However, it has since become evident that around 1/3 of the reservoir at WNA-2 is filled with gas and 2/3 filled with oil.

The testing programme for the WNA-2 well had originally been designed to cater for what was thought to be primarily a gas prospect and as such the oil reservoir was not able to be fully evaluated during the testing phase conducted between 6th and 30th August.

He said that this underlines the challenges with exploration work and the discovery of the unknown – this positive outcome hadn’t been anticipated. TS said that this meant, initially, that the testing team were unable to lift all of the liquids in the well to surface in an effective manner. He said, in light of this, the team performed an N2 lift which involved the injection of nitrogen into the wellbore to try and lift all fluids to the surface.

He explained that this was permitted by the Environment Agency and is a tried and tested method of lifting liquids to surface as part of oil and gas field testing and production. He said that it is a safe system of operation. TS explained that wellbore fluids were recovered at the surface with associated gas but there was not enough energy in the reservoir to recover any reservoir fluids to surface, but that fluids were tagged someway up the wellbore.

TS explained that in order to recover the fluids effectively from the wellbore, the team will need to install a suitable pump. He said that because the Environmental Agency permit did not provide for the installation of a pump, a decision was taken to temporarily suspend the operations so that the team could arrange to go back to the Environment Agency with a revised solution. He explained that the work was suspended, and the equipment was demobilised from site on 30 August 2019.

CF said that the regulatory compliance audits for the WNA-2 work had all been positive throughout both the drilling and testing phase. She said that a number of different Compliance Officers from the Environment Agency had visited the site and the office on several occasions as part of both scheduled and unplanned visits and that there had been no compliance issues to report. She also mentioned that there had been a joint audit between the Environment Agency and the Health and Safety Executive which was very positive. HC mentioned that all of the compliance assessment reports are available on the Environment Agency website 28 days after the report has been issued.

The wheels of the oil and gas industry and council planning offices turn slowly.
I’ve thought of selling out and coming back but dismissed it as a bad idea. Mostly because:

1) I’d buy another little Oiler, probably a dog, get stuffed with a placing then a duster and lose half my money
2) I’d then be limping back here with half my capital and have to buy back in higher
3) I’d end up with half the shares Ive got now when the 5p special divi comes for the sale of West Newton.

All in all I decided that to sit and wait is the best policy. Sitting on hands takes discipline and patience but in my experience it’s the only way to make money on AIM.

GLA.

Into the Cadeby! After all, that is the formation where they thought oil initially was present. The oil in the Kirkham was unexpected. The Kirkham oil discovery apparently flowed 1000ft toward the surface but that was insufficient to perform an EWT. An electric pump is required which is of linear design and sits inside the casing. We only had a permit for the use of Nitrogen to lift the gas and no permit to pump oil. Hence the EWT was terminated and we now await a permit for use of the pump to perform an EWT on the oil.
The interesting factor is: How much does the unexpected presence of oil in the Kirkham increase the likelihood of a successful oil discovery in the Cadeby? Common sense logic suggests that the Kirkham discovery has increased the CoS in the Cadeby. In my mind it has anyway. Furthermore, could these formations be connected. Exciting times. I’m in no rush and staying put. GLA.

Possibly M&G due to corporate restructuring/New fund managers. Possibly Miton due to the takeover. Possibly both. Neither anything to do with any change in the fundamentals of the RBD assets. Both sellers driven by changes in their own corporate structures and circumstances. I continue to hold. BOD possibly holding off on any more asset updates until these sellers are out IMO. No doubt this is why they didn’t want to release the volumetrics yet but Danny boy the Marxist bank robber forced their hand unfortunately. GLA.

But I’m afraid ECO is a sell. TLW will bounce over coming days. ECO is a falling knife IMO. GLA.

Is the bother he’s in investment related? Ie market abuse?.......Or is it related to his constant stalking of Elizabeth Hurley?

Drill or drop is a swampy climate change propoganda vehicle. They try to dress it up as impartial but their whole function is to spread negativity and discourage investment in the oil and gas industry. I wouldn’t believe a word they say.

Noooooooohhhh....wow. Why didn’t Rathlin think of that. Just goes to show ya. The simplest ideas are often the best.

Didn’t M&G recently undergo some sort of corporate restructuring where they left the Prudential group? When they first took that £3Mill at 0.85 they were part of Pru. Now they aren’t. Possibly new fund manager clearing the decks for a new strategy. It happens.

I concur Rovers. Yes, I’m a bit miffed at the recent big raise as I saw £93k disappear from the value of my Reabold holding in my portfolio. £93k is the price I’ve paid to further develop the West Newton story and unlock multiples of additional value in the next 12 months. That considered, I think spitting the dummy and selling out now would just allow somebody else to benefit from the £93k I’ve just forked out. Why would I do that? I’ve paid the price now so the only way forward is to hunker down and apply patience, sit on my hands and watch this play out. GLA.

https://petrowiki.org/Gas_cap_drive_reservoirs

here, so the recoverable figures for the oil are likely to be as high as 40%. Additionally, the proximity to infrastructure could see in ground values as high as $16/barrel. Perfect storm could be brewing here.

I don’t care if other entities are buying them, selling them or burning them to light cigars! What do I care! My 26 Million are staying put in my account and going nowhere. Ignore the noise. GLA.

Everybody has to develop their own strategy to suit their own circumstances. Nothing said on this board will make any difference now. In my opinion this looks headed for an asset sale of West Newton or a total buyout of Rathlin by a big producer. When that happens the first RNS we’ll see is a suspension in trading of both RBD and UJO. I don’t want to be out. Even if the RBD sp is still only 1p it’s feasible that there could well be a 4 or 5p dividend payable on the sale of West Newton. I’d be devastated if I sold out to chase rainbows and missed a potentially life changing payout. I’m in here. I’m staying in here. I’m going nowhere. GLA.

Massively positive risk/reward here now for me. Options are either buy RBD repeatedly while cheap and load up and wait the inevitable reward when WN gets sold or go chasing rainbows elsewhere in risky little one trick pony explorers like i3e and matd that drop 80% repeatedly on dusters as we’ve seen numerous times this year. I’m staying in RBD where I feel my capital is safe and well invested with a massive potential upside at this level. Downside from here now virtually eradicated imo.

On these numbers. No ramping required. This is bigger than anyone thought. When I first read those figures of dans it was assumed that was 140Mmboe which would have included the gas or so I thought. But no! That’s just the oil. And it’s not boe, it’s oil in place!! And it could be double. Wow. Make no mistake. This is a massive find.
Here’s the figures....

· Base Case:
o Liquids: 146.4 million barrels ("mm bbl") of stock tank oil initially in-place ("STOIIP")
o Gas: 211.5 billion cubic feet ("bcf") of gas initially in-place ("GIIP")
· Upside Case:
o Liquids: 283.0 mm bbl STOIIP
o Gas: 265.9 bcf GIIP

Truly staggering numbers.