Member Info for PDMSPiper

In coming days. When the successful appraisal was announced the story was covered by BBC, The Mail and The Telegraph. I’m expecting follow up stories in the coming days from these outlets and more.

This is an offshore size oil and gas discovery but it’s onshore UK and close to refinery, tank storage and even export infrastructure on the Humber. This will be very attractive to prospective major players in the industry. I expect this license to be bought out by a major producer very soon after it’s proved up by the fully funded WNB drill next year.

· 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

Brilliant Mick. All going in the right direction. This is fantastic confirmation of what the company know and why they had no problem raising the £24Million. Next stage is now flow test and CPR. These figures are a welcome boost for investors here. I’m very happy!!

· 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

Olderandwiser Go and buy I3e then. How sour can you get! Some of us have been here for two years waiting patiently for this and now you want to p1$$ on it. This is ONSHORE UK! It’s a different game sunshine. Take your sour grapes and jog on. Nobody here will be buying I3e lol. Sorry.

And furthermore it’s not boe! boe can be half STOIIP. This is possibly double dans figures even at the base case. It was assumed dans figure included the gas. But it doesn’t. Wow.

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.

Is out. Confirmation of BMDs figures. 146 mill barrels of oil. Lovely.
Expecting and RBD one but I haven’t got it on Vox of LSE yet.

It’s not unusual for archaeological assessments to be routinely carried on on earthworks during any developments. This happens on housing estate developments, shopping centers and retail parks, famously on large projects like cross rail etc.
In our case it will be small scale. A few nerdy hippies from some university will attend the site scraping around in the dirt looking for broken fragments of pots etc. it’s highly unlikely that where WNB wellpad is planned will be directly on top of the remnants of a well preserved ancient village lol. They’ll scrape around for a few weeks while other stuff is going on. The archaeological works will cause very little delay and will be done in parallel with other works around the site. It isn’t something I’m concerned about. The greenies will try to make a big hullabaloo about everything they possibly can but if WN is as big as we think then it will bring massive resources to the UK and huge tax income to the treasury. . It’s coming out of the ground! GLA.

Need to be seen to be performing their function and ensuring that the partners adhere to AIM rules as regards divulgence of price sensitive information via RNS. This situation with BMDs leak will put the nomads under pressure. Hence the weak “we’re working on it” RNS. I doubt the Nomads will be happy with that. It’s making them look slack, or even corrupt in the worst case and could leave them open to legal action.
The partners will either now...

1.) Be currently trying to prove to the Nomad that the volumetrics are inconclusive ie not ready

Or

2.) Have fessed up and admitted to the Nomad that the leak is accurate and that the info is being prepared for imminent release to the market.

That weak denial RNS had a whiff of option 2 about it for me. GLA.

“Roofers hound
@Roofershound
Replying to
@Heid_oil
,
@leedbartz
and 4 others
I think his info is probably good Heid..... but I think goading the partners and bullying them to release the news may not work..,,

I doubt they will respond just because he’s calling them out...
5:05 pm · 8 Nov 2019·Twitter Web App“

Best of luck Harry. If we don’t get a 30% uplift over a few trading days next week I’ll be very surprised. There can’t be much Miton stock left now. We are obviously being held here. All the best.

“That would require collusion with Rathlin and UJO- a dangerous precedent.”

Not precedential at all. They colluded to suddenly end the well test unexpectedly. They then colluded not to give us the full details of why apart from that they need to collude to redesign the EWT for an oil component they found that is 45M deep with a gas cap on top. They’ll collude again to tell us how much by volume they think there might be and how recoverable it is when they’re all ready I suspect.

Which one do you think Sachin looks like? Ant or Dec?

Even so, it happens all the time, especially with news that is being “worked on”. It’s ready and finished and ready for release when the company says it’s ready. Who’s to say they have to release it? The FCA? Ha. The Nomad? The Nomad only know what the company tell them and if the company say it ain’t ready for release then it ain’t ready. Magically though, coincidentally, it will probably be finished, checked and approved for release around the time that the Miton stock is all sold and the SP is ready to move up unhindered. Only my opinion. Don’t bet the farm on it! GLA.

are selling out. We’ve known about it for weeks. Miton are exiting all their small cap holdings due to a takeover. Not sure what their holding was here, 300-odd mill from memory, not sure, not really bothered enough to check. Pretty clear that MMs have been given a blanket sell order to shift their stock at a pre agreed price and it’s been churning for a while. That’s why all we see are buts but the offer just keeps getting filled up. Obviously the BOD know about it too. News being suppressed and prove being kept here until the Miton stock is gone IMP. Once Miton are out then I have no doubt we’ll start to get some RNS news with a more detailed forward plan and possibly a bit of meat on the bones of what we already know regarding what they think we have from the core sample analysis. No idea how much Miton stock is left but looking at the buying once we start to move up I think we’ll be back up towards 1.50/1.35, where we were before the big fundraise and we’ll be there pretty quickly and catch a lot out. DYOR. GLA. Piper.

He’s been right a lot with RBD over the last couple of years. He’s had the placings, the surprise WN oil find on this drill, he had them before the official announcements. He’s obviously got inside moles.

The time on the tweet I copied is my time here. I’m in Europe. It would have been 12.22 your time.

No hiding now. He reckons an RNS is coming....



Mr Daniel Levi (Sinner)
@BrokermanDaniel
I'm hearing good news on the way #WestNewton RNS's going back & forth as we tweet.... All the partners are on 'Mole' hunts LOL!!!! I've got more sources than HP LOL!!!!
1:22 pm · 7 Nov 2019·Twitter Web App

Soon see how reliable his moles are.

The asset will be sold when fully appraised but it’s relative size and possible method of extraction is a valuable topic of discussion because these factors will directly affect the value per barrel of the asset in ground and how popular it is among prospective buyers. Reabold will never be taking this to production, just full appraisal.

“During production by gas cap drive, reservoir pressure falls slowly and continuously. The driving energy is predominantly provided by the expansion of the gas cap as the reservoir depletes. The gas–oil ratio rises continuously in updip wells. Water production is nonexistent or negligible where the water saturation is irreducible. Production from the gas cap drive reservoir is due to the driving energy imparted by both solution and free gases, resulting in higher oil recovery than the solution gas drive alone. Oil recovery due to gas cap drive is typically around 30% but could be as much as 40%.”

https://www.sciencedirect.com/topics/engineering/gas-cap

I believe this to be the case Krull, even when the gas sits above as a “gas cap” as we have at WN. Explanations can be found online in the usual manner.

Olderandwiser are you seriously saying with a straight face that you believe Institutional investors were approached for £16,000,000 on the back of an untested well that has seemingly been abandoned and coughed up without being given any further information?
Is that what you think? You have over 9,000 posts here. You can’t be that naive or stupid. Surely not.