Member Info for RNSTranslator

“ Wallowing” …just like the shareprice…

Everyone is of course free to choose which one to base their investment decisions on.

"I have every confidence he will deliver "
can you tell us what that confidence is based on?
His Past record of creating shareholder returns?
His financial incentive, now he is paid 5 times what he was paid when he floated it at 50p 8 years ago?
We'd all love to hear where your confidence comes from..
At least Malcy gets paid each month to say positive stuff.

"Guys - genuine question. How can a company with accumulated losses pay a dividend?"
Yes, if they get a court & shareholder agreement to reduce the Share Premium Account, which is what they are doing.
Its reduction will create distributable reserves.

Itsawrap, buying back £3mm worth of shares at 30p when they sold them for 22p is indeed "unfortunate".

So I’ll take that as an admission that there were none.
Pointing out factual issues based on experience and knowledge is not “showing off”
Endlessly Pointing out how “popular” you are on twitter however, is.

Come on Heid, share my “misleading” posts …
Or can’t you find any?
You Frit’ ?
Put up or shut up…

“ RNSTRanslator is just a misleading”
Why don’t you put your money where your mouth is and give actual examples of where I’m misleading everyone..

Thanks for that TAC
I agree with you that the most likely hydrocarbon type if it flows, from WN is the gas. Simply because the laws of physics mean that flowing gas through a reservoir with limited poro perm characteristics is much easier than flowing liquids.
I would point out though the following information released by UJO about the gas resources at WN.
Initially pre A2 it was Contingent resources of 189bcf (Contingent resources are defined as recoverable volumes not in place volumes, no in place number was published)
Following A2 this was revised to 211-265 bcf “in place” (note the increase in number but no mention of actual recoverable volumes to compare with the original 189bcf recoverable.)
This was further revised after B1/z to 50bcf in place.
So the reality is that the gas resource at WN has gone from almost 200bcf recoverable to some fraction of 50bcf. Recoverable. BNP did an evaluation for Reabold and had a high case recovery factor of 14% , however this did include liquids and gas and was 7.1mm boe. Gas alone should be higher depending on pressure support from the aquifer and underlying liquid hydrocarbons. If we divide the 7.1 relative to stated in place figures then perhaps 25% of this is gas, say 2mm boe or 12bcf. Giving a 25% recovery factor for gas.
Given the proximity to infrastructure that is probably do able, but net to UJO 2bcf, 330k boe, it’s not a really a game changer .

TAC
If pointing out facts, in your opinion at least, is damaging the JV, then perhaps that says more about your rose tinted approach to investing rather than wanting to understand the pro and cons of an investment.
Happy for you to counter what I say with your own view of why you think it’s incorrect. But I notice nobody ever does.. they simply resort to rather childish attacks because I’m spoiling their own rather blinkered approach to reality.

“ They know where that will be when the house is built!!”
Begs the question, would you buy a house from a builder with a track record of selling houses where the buyers lost money and then the houses fell down?

“Jenny Pittman and Heid Oil ... two leg ends.
I know my horse racing alright.”
Tony Newcombe , purveyor of horses to the Blaggerati.

“Yep no point entering into a non binding agreement if dd hasn't already been carried out it would be a waste of resources.” Not strictly true. The reason it’s non binding is that full dd has not been done on the company. The bidder may have evaluated Victory, but clearly didn’t want the other stuff. Taking those assets out leaves only Victory. However if the bidder is buying the company it will need to do its dd on the remaining obligations and liabilities (if any) in Corallian.
1:Corallian drilled a number of wells which were subject to abandonment, that liability remains with Corallian, so they will want to make sure the job was done properly.
2: Corallian almost certainly bough seismic data to evaluate their prospects. Depending on who they bought it from it may have further payments due on a change of control or other success based milestones. The extent of these, if any changes need to be understood.
3: They will likely want a comfort letter from NSTA to ensure that they won’t object to the new owner of Corallian, and that they have fulfilled the promised work programme, that the new owner is technically and financially qualified to operate a production and development project.
4: Other than checking that no shareholders are subject to sanctions or are politically exposed persons , it’s irrelevant who the shareholders are.
It’s not a huge job, but will take a little while.

So Heid,
Do you still think Dave will suggest a dividend when he has to pay 65% tax before he can hand it out.
Or will he perhaps want to reinvest his profits into other “opportunities” to avoid it?

“ I think you like showing off RNSTranslator with your experience an knowledge of the oil world an accounts.”

I know you find folks pointing out reality on the basis of experience, difficult. As long as you continue to mislead and misinform simply based on your own “belief” and self evident lack of knowledge, I will call it out.

“ Oil price is going to rise, RNSTranslator, and Union Jack Oil will benefit big time.”
If only UJOs share price responded to oil and gas price increases. It doesn’t. It’s less that when oil was $70 and gas was 35p a therm and before they get Wressle producing.
Why is that Heid.
You have to date FAILED to answer that fundamental prop underlying your so called “Thesis”. Come on have a go…

“ Go on say it....air source heat pump ?!!!”
As I said naive and illiterate.
Domestic supply means “A Supply of energy from within the UK”
It’s not something you can put a plug on.
An ASHP is a USER of energy not a SUPPLY of energy. Or did you think it runs on air?
Perhaps you need to stop digging now.

“What new sources of domestic supply are you suggesting, RNSTranslator ?”
Meaningful ones!
Increased well stock into existing mature fields.
Development of existing satellite discoveries for tie back to host platforms.
Platform electrification.
Expenditure by the larger companies into offshore wind and associated renewables (eg. Green Hydrogen).
Companies with large tax pools and significant debt will of course be mainly unaffected, other than their tax pools will diminish at a faster rate.
That enough?

“ It gives people the ability to keep using there heating..”
Not only are you economically illiterate but politically naive, you seem to think that demand destruction by pricing out the less fortunate is an acceptable strategy. Anyone can see that when the average energy bill goes from £1200 to nigh on £3000 in 12months that usage will fall, regardless of a whether you get a few hundred quid from Rishi. Expect to see enhanced capital reliefs to push investors towards investing in existing and new sources of domestic supply. Anyone suggesting they’re making so much money they want to return it to shareholders (Hey Bernard/Ben) will face significant tax pain…

“ The windfall tax is bullish for my thesis…”
Oh so you’ve done a U turn too, that’s lovely.
How is your thesis on the fact that the windfall tax can be mitigated by reinvesting profits back into UK oil and gas ?
Are you quite so sure that the company will still prefer to return excess cash to shareholders via a buy back or divi, or will they now claim it’s more tax efficient to “reinvest”excess revenues.
As they say in nursery…”The wheels on the bus go round and round, round and round…” repeat as necessary.

“ I am invested here an you can bully me all you like but Im staying put all the way to Biscathorpe.”
I thought you were staying until £1 or have you since dropped that number too…£10/£8/£6/£3/£1…. Spot the trend, the trend is your friend…