Member Info for RNSTranslator

"permeability bull(****ter) at West Newton.."
Yes there's very little effective permeability in the matrix, and the fractures seem to be cemented up... in the old world you'd drill a long horizontal with a muti stage frack... problem is that's not allowed. Throwing acid down the well is like trying to unblock the toilet with a Gin and Tonic... that reminds me...........

To quote my ex fellow countryman the Lizard of Oz.
Being attacked by Heid/Walter "is like being flogged by a warm lettuce"
apologies in advance if that's offensive to anyone who identifies as a lettuce.
I know Heid/Walter self identifies as Narcissus.

Heid/Walter
You do seem to get very agitated when I point out facts and ask you difficult questions.
Especially it seems about Dave and his Porsche and his apparent indoor pool/hot tub, which you seem to know an awful lot about….something you’d like to share with the rest of us… or is it dog walking time again?

"Union Jack could be pocketing 20 million dollars gross very soon... then HIGHER !"
How long is very soon?
and on what flow rate and price do you base that?

Stas20
You might want to reflect on why they had to go to Canada to find assets… Liberator “Development”failed.
Serenity found 10ft of oil, no mention what the rest of the sands contained eh! Interesting that they were happy to publish all the liberator well logs, but so far not Serenity.
Everyone is of course welcome to make their own minds up whether this was a good deal or not…but the facts are the facts…and we shall all see what the answer is later in the year…

You would all do best to remember this bit hidden away in all the claims of 100’s of millions of barrels and hundreds of feet of oil column - “ The net oil interval in the Captain sand was c.10ft ”
This farm out has been around for a long time, all they could find was a small cap AIM oiler who believed in it and were prepared to dilute the cr@p out of shareholders to take a swing at the fence.
There’s a reason non of the Tain owners have farmed in, or that i3 don’t want to fund it all themselves…
This is the company that sold shareholders the Liberator “, Development “ which was technically flawed from the get go.. and two wells later guess what, it didn’t exist… they bought Liberator for $2mm to then claim it was worth 100’s millions based on their in depth technical work.
Interesting to note that today Quattro (essentially i4) failed to raise money to buy assets from United. See their RNS.
As many have said, why not stick to your knitting and collect the cashflow from Wressle?
A Reliable but hardly ego inflating strategy for Oddie, he’s happy to take a punt with other peoples money. Trouble is he’s picked the wrong horse…

"Can someone remind me of our production costs, we must be clearing €90 a barrel. Million bucks a month"
The company has previously stated about $9/barrel opex, or $18 on a full cycle break even basis.
Recent "million dollar revenue" RNS's have identified how much cash actually flows to the bottom line per $1mm gross revenue after all costs, and that is about £345k.

why's that Heid?
Need to call a "close friend" for the answers...

"As for Wressle ....well that's another story. Core those Pennystone Flags.. "
Why core them, they didn't core the Ashover?, coring the Pstone will require either a new well or a sidetrack from the current well, which can't be done whilst producing from the Ashover... which is it and why Heid??

"Don't tell me the institutions aren't already being briefed on the CPR's'." No they're not , that would be inside information, and the Institutions don't like to be taken over the wall unless the news is imminent.. is it Heid??

"They will want in before that dividend vote...... Ya get me 'folks' ...."

They don't need a shareholder vote per se for Dividends as such , they need approval for a reduction in share capital
1: A shareholder vote on a special resolution 75% approval for a reduction in share capital and 2: a subsequent court approval including approval of creditors where appropriate. At that point the company can either buy back shares, pay a dividend or return capital to shareholders, depending mainly on their tax strategy.

" Got the RNSTranslator lingo there."
Nope just more examples of naivety and utter cluelessness when it comes to how companies are actually run... best stick to opinions, arm waving and other fanciful stuff that requires only a belief not an understanding or real knowledge eh!

What they said about West Newton:
- Demonstrated hydrocarbon column of at least 118 metres with no hydrocarbon-water contact
- Thick porous section identified in both WNA-2 and WNB-1Z wells suggesting a contiguous Kirkham Abbey reservoir across the West Newton structure
- B-1Z well de-risks the southern component of the West Newton licence area and crucially supports the accuracy of the seismic interpretation across the entire platform
· Log results at B-1Z well exceeded Union Jack's pre-drill expectations
- Good porosity throughout the interval
- Kirkham Abbey interval hydrocarbon saturated
- Mudgas concentrations observed while drilling through the Kirkham Abbey formation at B-1Z well were as high as 9.8% total gas
· 18 metres of core cut and recovered from the B-1Z well
- Visible natural fracturing, micro fracturing and vuggy porosity demonstrated from
Core-lab inspection and analysis"

What happened after this promotional release ?- Nada, nothing, zilch, no commercial flow after two tests....

Biscathorpe - Same style of carbonate reservoir albeit older, no examples of material flow from this reservoir in the region,. Once bitten twice shy for most folks... or do you know something we don't... nope you know less than most.

Now, if only the price of UJO was linked to the oil price!
1 year performance - Oil +55%, UJO -26%.

"The biggest unappraised well in the UK."
That's not really correct is it Mary. (I thought it was Walter?)
The Biscathorpe well was in fact the appraisal of the original Biscathorpe well, that's why it was called Biscathorpe 2, not 1.
The original well drilled by BP found oil shows in a Westphalian sandstone.
The Biscathorpe 2 well failed to encounter the Westphalian Reservoir, but found Oil shows in a Dinantian Carbonate.
The Dinantian Carbonate has only ever flowed in low quantities in the UK, it is in effect the Carboniferous equivalent of the West Newton Kirkham Abbey type of reservoir.
Hardstoft 1918 8-10 bbls per day.
Norton 1944 18 bbls/day for a very short period
Nettleham 1982 12.9 bbls/day.
Just like West Newton is the biggest discovery since Wytch Farm, Biscathorpe is the biggest potential discovery since West Newton... and of course a successful appeal will mean another £500k out of the door...regardless of the result of the well.
Just saying like...

What aspect of my post is incorrect Walter?
Way Out of your depth and resorting to childish name calling. If it’s bull5hit, maybe you could share why that is..
IF you can…
Amateur Hour.

“ Dividend...Ahhhhh....I am dribbling at the thought.”
Dividend, which can only be paid out of post tax funds, and is taxable to the recipients at 8.75% 33.75% or 39.35%.
Of course with only one material producing asset which will be subject to natural decline and one asset risk the dividend will not be a stable year to year expectation, and the minute it comes under threat the shareprice will react.
A buyback in the market will require the company to enter into a firm agreement with the broker to buy back which cannot be changed until the programme is complete, and will be limited to usually no more than 15% of the daily volume…it will provide support for the price but that support is limited, at least the seller gets to choose when to sell and only pays CGT (10-20%) or crystallise their loss.
This also requires distributable reserves and shareholder/court agreement to implement the restructure of the balance sheet.
The most efficient route is a tender offer (or a simple return if capital) where shareholders who wish to exit can tender their shares, and pay only CGT, and allows those who wish to hold longer to benefit from fewer shares in issue, albeit with less cash on the balance sheet…
Heid continues to amply demonstrate his lack of corporate finance and basic financial knowledge.
Walkeeeees!

Ooooh…
Girl oiler - yeah right, Walter.
Simply an uninformed promoter unable to engage in reasoned debate about the facts as presented by the company.
You seem overly sensitive to the HP Porsche in the drive for travelling to the site, and you never did tell us how you know Daaave has a swimming pool and/or hot tub? Did you?
Big hat, no cattle as they say back home…

“West Newton should now be classed as national significance for the security of our country for energy. “
Firstly it didn’t flow any gas.
Secondly they reduced the gas in place by 75%
Even if they did get it to flow the entire gas reserves would keep the UK in gas for the equivalent of about 4 days.
National significance my @rse.

“I have documented my thoughts and been bang on the button”
Really? Shareprice (that’s why folks invest!) predictions dead wrong..£6,£3,£2,£1..
Hardly back to the last leaked raise.

It’s amateur hour again…

Good old Malcy,
"I would expect something in the way of a distribution via a dividend or share buy-back programme"
What an amazing insight from an RNS that was titled
"Proposed Future Distributions to Shareholders via a Dividend or Share Repurchase"
Worth his weight in something... apparently some folks pay him for these pearls of wisdom...

"Least you will shut up about Calmar now RNSTranslator."
So the gross $3mm revenues Heid, how much cash does that equate to on the bottom line?
The last $1mm from Wressle (plus the other production ) created £347k of free cash, the previous $2mm will be proportionately less than that, but let's be generous and say $3mm in Wressle revenue has delivered about £1mm of cash after opex and costs.
Spending £2.08mm is about £1mm more than the net income they have generated since Wressle came on stream... fact.
So I'm happy to stop mentioning Calmar, as its about to be paid, I'll move onto the £500k due to Humber... that OK?

"Foremost I am here to be right."
let us know when you've started...so far it's not looking good.
£6,£3,£2, £1...

"could you tell us how the leak enquiry is going on Heid?:"
aka Project Tena