Member Info for RNSTranslator

27th of January 2021: Shareprice 36p
Wressle not flowing yet.
Heid said “ So when we prove up the biggest Oil an Gas find in years you think investors wont start arriving here ? This is just the beginning. We are fully funded with a fabulous portfolio of assets. I am interested in the flip . Then Biscathorpe. And my 3p. [£6]”
So why is it Heid, that 16 months later and Wressle is actually flowing ahead of expectations, and a with a much higher oil price that the shareprice is 27p.?
Do you actually have any explanation for this??
It’s not the oil price is it!
It’s not the production rate is it!
What does that leave ??

“ RNSTranslator, you are trying your hardest to undermine me now. That is clear.”
Hardly a challenge to be honest.
It helps that you never respond to the points I make, other than “I am confident” “I am very confident” but no explanation of why or on what professional or experiential basis anyone should actually believe you.
Your “research” is all about oil price and the macro economic geopolitical perspective ( and about just how clever or popular you think you are) you never want to discuss any technical or commercial issues pertaining to the fields themselves…why is that? Using Occam’s Razor Perhaps It’s simply down to the fact you don’t really understand them.
Just repeating what Dave tells you when you visit or call him.

“I understood that we was in an energy crisis”
Classy…
You still don’t u set stand anything other than oil price.. your confidence is an illusion based on your lack of knowledge of the subject.
Don’t care whether you’re male or female, you don’t understand oil and gas.. end of.

Perhaps Heid, they might want to understand a bit of reality rather than an uninformed speculator who doesn’t understand the basics of oil and gas technology.

Heid, what’s your view on Shell last week deciding not to drill the Zechstein for Egdon?
Which target was most geologically similar to West Newton?
Was it The Deltic Prospect or the Egdon One?

Grewber
Can’t disagree with your logic.
Folks around here have Visions of someone paying £100’s of millions for Victory based on published unrisked NPVs..
My own take is that RBD Will do well to collect £20mm and more likely a smaller amount with a payment contingent on first gas linked to the price.
Talks of multi bagging the market cap are simply unrealistic.
I guess we’ll find out soon.

“ Basically I am pretty chuffed with myself”
Says it all really.
You find it difficult (impossible) to actually refute the stuff I post, because it’s based on facts.
You never did tell us about how you knew about the inside of Dave's house…accused me of seeing through walls.
So I presume you have visited Daves HP Lair ?

Before you further betray your lack of knowledge about oil and gas production and company accounts.
“A wasting asset is a type of asset whose useful life is limited, and its value decreases over time, examples of which include fixed assets like vehicles, plant, property, and equipment or financial instruments like options.”

It matters not how long the licence is, the field will decline as reserves are produced and so the asset has to be written off in line with this. Aka DD&A.
Providing and Maintaining a dividend requires a pipeline of projects to offset the natural decline of any oil or gas field. This requires continuing capital investment to add to the reserve base to maintain the dividend. One producing asset is not the basis for a reliable or even growing dividend other than one off special dividends. Any serious investor will see that, and the expected rush of institutions rushing to buy it for the dividend is, at best, unlikely. This is Business 101 stuff, this is a trader and punters share and will remain so fit a while yet. Typing VERY confident in commerciality at WN makes no difference as clearly you neither understand the subsurface nor the technical aspects of oil and gas… it’s just hot air.

TAC
You know very well that’s misleading.
They are currently adding to cash at £450k per $1mm of Wressle (plus other) Revenue Approximately monthly.
Not £1.5/£2mm per 2 months.
Once approved the obvious route is a buy back rather than a divi. Why?
1: At present they have one meaningful producing asset, Wressle. Trying to Maintain a divi on a “wasting asset” is difficult as the production declines. The asset has to be depreciated as the reserves are produced (basic accounting) so short of other replacement assets it’s not a long term strategy.
2: Paying a divi is in in effect counter to the interests of option holders. They get no divi, and their share of the company stays the same. Buying back shares increases the option holders share of the company, and so, on the whole, is more advantageous to them.
3: A buy back will in theory support the share price as there is an active buyer in the market. They could easily buy back £3mm worth of shares at say 30p. (I’m sure the irony of that would not be lost on some.)

Heid says: “ That was a fantastic update RNS and David should be extremely proud of what he is achieving here and with lots of hard work being put in by all concerned.
David says 'Wressle has been nothing short of a spectacular success'”
Market says: Not much.
The question is why?
No new CPR - they’re still using the old one.
Gas solution “tight schedule” for the 22 winter, subject to planning and environmental approvals.
So production will continue at the current rate until the gas solution is delivered and approved. By Year end at the current rate they will produce 160,000 bbls, add that to the 150,000bbls already produced - that’s more than half the Ashover reserves according to the current CPR. So where is the updated reserves report, without it potential institutional investors are in the dark about cashflow and capital returns.

"I told you RNSTranslator talks crap."
So Held, which bits are incorrect??
Or do you not engage with facts?

"Rubbish. This doesn't include the production from the 2 other assets either"
Thats incorrect, suggest you try to understand what the company has actually said.
For each $1mm of Wressle (plus any other revenue) about £450k goes to the bottom line.
Thats simply a calculation made from the Cash and Receivables numbers they release on each $1mm gross Wressle revenue milestone..
FACT.

"The share price is not the only metric of shareholder returns"
Thats an interesting argument..perhaps those that invested at the equivalent of 50p 8 years ago will be relieved to hear it.
A share price is the markets evaluation of the companys current and future cash flows.
Seems the market is waiting to see what the Management do with those cashflows..

"Like ONE MILLION DOLLARS every 28 days....or 1p on the share price every 5-6 weeks in cash."
Not correct, the cash on the balance sheet for every $1mm is £450k that's about 0.4p per share.

TAC "When a company lists on AIM it is to raise money."
Well, I always thought it was to make a return for shareholders, not simply raise money to keep the lights on and the managements salary and HP payments.

“Wressle would pay for the company in 2 1/2 years and then from there onwards all would be profit????”
Really?
At the current free cashflow rate it would take about 6 years to “pay for the company”, assuming the company doesn’t have to pay tax, which of course it will once it’s tax pools are used. of course we are being kept in the dark about the external reports on revised recovery rates and the production profile of the Ashover, and in due course the pStone. Not even a guideline as to when this might be forthcoming. Hopefully Upcoming Egdon results may tell us more but if course they’re not doing a CPR (or non CPR) on Wressle.. UJo want to do it themselves.. and pay for it themselves. of course any sensible CEO would want to share the costs with partners as they will all benefit from the results … perhaps Mark and Simon don’t want to pay, and are happy to point their shareholders at UJOs?
No liability, no cost…
Perhaps this is why it’s taking so long??
Or perhaps they’re not keen to share the outcome just yet??

"Should have 'obviously' read £15,000,000 net/'year' in future from Wressle"
Really - can you tell us how you get to that number?
Todays figures confirm how much of the revenues fall to the bottom line as free cashflow.
from
$2mm - $3mm gross revenue it was £390k
$3mm-$4mm its was £450k
$4mm-$5mm its was £450k
If we assume no decline over the next year then that's an annual pre tax net income of £5.4mm.

Facts not speculation.

Of course people have a choice:
Here’s an analogy for you Heid.
you’ve been involved in a motor accident, would you chose to have experienced and trained firefighters to extract you from the wreckage, trained ambulance crew to deal with the immediate injuries and get you to a hospital where well qualified medics with experience can make sure you get the treatment you need.
OR
Would you chose to ask for help from someone that’s passing by who’s looked up “Emergency Healthcare” on the inter web, and had also read book on first aid.
You can, as Heid rightly points out , chose to listen to folks on this Board that know what they’re talking about, or you can ask for Heids opinion.

“Remember you said the Ashover would only give a few million over it's lifetime”
Happy for you to repost where I actually said that…
Posts are Based on the CPR/and RNS information… where’s the new notaCPR so we can evaluate what’s been produced and what remains..durhhh.

“ The same as the oil price supported West Newton application and also will Biscathorpe.”
Neither of which has demonstrated an effective producible reservoir has it?
“Winning” a planning application doesn’t alter this plain and simple fact…it just means they can keep spending your money in the hope that they might…#justkeepdigging