Member Info for RNSTranslator

I'm afraid Mirasol is correct.
Wytch Farm estimated recoverable resources 480mm bbls. 11k bbls/day
Wressle (Ashover) Mid case recoverable 540,000 bbls 500+ bbls/day
So they're correct its the second largest producer after Wytch Farm...
This says more about the state of onshore oil and gas than anything else.

Whilst higher flow rates will bring greater cashflow upfront, which is good as opex will be reduced, the estimated recoverable reserves (from the CPR) from the Ashover ranges from 260k bbls P1, 520k bbls P2 to 1.12 mm bbls P3.
So there's a 10% chance that its less 260k bbls, 50% chance its less than 520k bbls and 90% chance its less than 1.12mm bbls.
The production decline rate will be needed to estimate these numbers with greater accuracy, hence the new CPR.

I’m happy to stand by what Willams said:
We remain fully funded for the coming month (or months if the s was edited out.) I did not say they would raise money in the next 3 weeks as you incorrectly claim, they will still be goofing around on A2 and are hardly likely to raise in the middle of that are they..that’s just common sense ffs..
If you’re question is will they have a fundraise or Acuitas drawdown, straight after A2 results then it will depend on if they still plan to drill B2 straight after A2 test…I don’t think they will do that.
But I’m of the view that B2 is not included in their current funding, that’s why he was careful to say what he said “coming month”…that was explicit.
If you’re going to ask a question it might help if it was actually related to what was suggested not what you “thought” was being suggested…

Now Mr I that’s what you’d call a proper spanking!!
Lmfao….

And. One from the Archives (Feb) where Mr I actually tells me I’m right:
“ RNST is correct though, the plan is/was to reperforate, liquid frack, side track, then presumably other measures such as nodding donkey could be used (obviously stopping at whatever point in the plan they reach the limit). At the moment they have done the reperf and we don’t know the rates, although interview with Favid suggested they were going to liquid frack (without us knowing what it flowed at after reperf). I doubt they will stop until it’s flowing at or close to 500, it’s just a question of what needs to happen to get there. ”
You really can’t make this stuff up…

The poster that just keeps on giving…,
“ Sooner or later the two greasies at the helm of this sinking ship need to pull their finger out and say something. I thought 0.52p was a decent price, right at the bottom, I’m already 20% down.”

And another corker…. From Mr I.
“ To be honest I and the rest of the market want to be seeing a commercial flow of something good at b1z, even if only gas, but hopefully some form of oil too. I can wait patiently for that.

But forget using an excuse of further drilling at site A and a B2 or whatever… we were promised something big here and I expect them to deliver on that, no more excuses and no more nonsense. I hope they will, but I won’t be pretending it’s not a failure if they don’t… it will be a huge failure.”.
It’s official even Mr I says WN B test is now a huge failure…

Here’s one of yours:
“ They found Oil and Gas!!!!!!!21 Jul 2021 08:30
They have said liquids (plural) and gas has been recovered to the surface.”
That’s liquids plural so there’s two of them!
LMFAO - it’s amateur hour!

Mr I
Still looking??

Basic oil and gas financial metrics
NPV is not the same as its potential sale value , this is especially true for undeveloped assets which by their very nature still contain development, timing and capex risk. NPVs are theoretically calculated from unrisked discounted cash flow model calculations. In practice they should also be run at the cost of capital for the Company concerned, which in this case is not 10%, it’s usually in excess of 20% for companies of this type (unfunded, no balance sheet, funding through equity risk capital only) . Anyone suggesting these are somehow realisable cash values quite simply is ignorant of what they are and what they represent mean or are deliberately wanting to mislead.

An RTO ? so a share issue by an as yet unknown listed third party.
Is that company funded?
Or will that Company need to raise £130mm for the development.? Do they have OGA approval to be a developer?
Will it be purely equity funded or do you think they can get debt funding…if so what %.
To monetise - the large incoming shareholders will be locked in for 12months…the FDP won’t be confirmed by the OGA without finance in place, so if you want get gas by 2024 there will need to be equity dilution straight away unless they have the cash to hand… when do shareholders actually get their return??

So Deemule
So What in your view will they “flip” it for in £?

Regardless You’re argument on value doesn’t make sense…

Deemule nice try.
The gas at Victory is not 135p is 45p on the forward curve.
Nobody buys future potential gas in 3/4 years time at today’s spot price. Of course you are quoting NPVs which do not equate to sales value. Also they only own 50% , you quote 100% values. And you also need to factor in the dilutionary effect of management options.
Other than that a good try…

Apparently the propagandists have now admitted that there is no measurable flow of positive spin (or hydrocarbons) so they’re going to find an old rampers thread and see if they can get that one to flow……

Pah thats nothing…
On the 4th of September in the Year of our Lord 2019, My old man made me spend all my saved up pocket money (2/6d) buying RBD shares…

Heid
"This will make a net income from Wressle alone of £4 Million pounds for our Dave"
Your maths is as bad as your geology.
At 200 bbls/day and $70 with $9 opex the gross revenue is £3.2mm not £4mm.
If you then deduct the Calmar £2.08mm payment that leaves £1.12mm first year net revenue.
If you add back in the £1.1mm owed by EDR payable next July
Thats £2.2mm free cash.
As they have no other meaningful income and the cost to run UJO is £1.3 - £1.5mm per year.
This means they have free cash of about £5-700k for 21/22 to do other stuff... such as drill and test B2, drill Biscathorpe etc etc...hardly mid cap, hardly flush with cash.
Not forgetting the £500k they owe Humber if Biscathorpe is drilled and tests...
Happy to understand where your £4mm "for Dave" comes from??

Cloves
Whilst NVG and I have had our moments..there comes a time when the smell of fish becomes overwhelming. Time to take the peg off your nose…

You mean the reality of the situation and the lack of candour by those selling the dream is best not shown to the investors…

Heid
Suggest you get a book on geology.
There is no talus slope, there is no KA reef , Rathlin thought it was a reef, but the B1 well demonstrated that it wasn’t that’s why it came in deep, the model was wrong… it’s a platform facies with fractures…if you want to understand WN you need to understand fractured reservoirs… they can be prolific as they are in Vietnam or they can be disastrous (see HUR).
Spouting geological words you’ve “researched” make you look even more out of touch with reality I’m afraid…you don’t simply know what you’re talking about…

You’re right Heid
There is a difference between WN and Ossian…
WN is in the platform facies Ossian in the basinal facies.

“ In 1990, the Crosgan discovery, whilst mainly targeting Carboniferous, discovered gas in the Hauptdolomit. In 2019, the Ossian discovery (Figure 1) tested oil in the Hauptdolomit and will be ready for appraisal in early 2022, and onshore UK, the West Newton oil discovery was made in the same unit, targeting the platformal facies to optimize reservoir quality.”
And you kindly pointed it out: the main difference-
“Oil flowed at 3,500 barrels per day when tested.”
Seems they didn’t need to bung a whole bunch of acid down the hole to “help” to get it to flow, nor did they need to pump it up because it had sufficient pressure to come out at that rate of its own accord…

Apart from that, they are quite similar. They have the letters
S N and O in common…