George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
The rejection 7-5 against the planning is nothing more than a sham fight. Only won if Rathlin don't appeal which they probably will. Decision will go to the next level on appeal and get rubber stamped. A long cold winter with high energy bills, local jobs created and a community fund will tick the box. Will the council then appeal or not? Main focus is WNA, the recent director purchase is the confidence builder, Wressle flowing etc.
Sentiment will change regarding SP. Take a look at Wild Cat Petroleum current market cap is £29m (£85m earlier in the year), greater than RBD & UJO market caps. Compare the assets and cash of each. Personally if WNA comes in I would expect a 4 bagger for UJO and 5 bagger for RBD., and that is being conservative.
Brobberspam's has image of the linear rod pump taken Saturday and getting thrashed with hydrocloric acid. The photo shows the pump but is hydrocloric acid being used is the question? According to DB very little fluids were lost when drilling WNA. The acid is used to remove scale or other deposits from well perforations and well-completion components and to restore natural porosity of the formation.
Everyone just chill; the SP is up/down; spiking etc. An early RNS on positive WNA testing will propel this big time. Has DB delivered? He has on Wressel and if WNA flows gas and/or oil in my books that would be 100% and 26.50p SP will be a distant memory. On another subject has anyone asked BMD how MHC are doing?
Why do a placing pre WNA testing results? Those buying would be taking a huge risk holding shares should this turn out to be a duster. On the other hand if the test results are positive the placing could go ahead at a much higher price with less risk for those buying in. Can one assume the placing preparations are on the back of WNA results which we hope will be positive? (now leaked to create a low as possible entry price)
I suppose DB considered getting the placing away after successful WNB results which did not happen. Damage is now done, we can only hope WNA comes in good which we should know pretty soon. If it does its a game changer with Wressle flowing and one would expect the SP to increase significantly.
Disagree, a good outcome on WNA will sky rocket this. Apparently the issues with flow at WNBz was the fluid matrix and WNA lost little fluid at formation. So we await WNA flow rates and if this is the case its game on, WNBz shut in till October and could still flow. On the other hand we have long memories regarding UKOG and Angus with potential gushers that came to nothing. Patience now required, on hindsight WNA should have been flow tested before WNB drill to prove its commercial viability and if successful would have substantially increased the SP, instead the SP has been on the wane with discoungted placings etc.
Strong case for the defence?
https://www.malcysblog.com/2021/08/oil-price-jog-ujo-reabold-sound-hurricane-lamprell-eco-atlantic-zenith-and-finally/
Lets see what the next few weeks bring, Wressle a success, WNA for testing followed by possible WN2Bz intervention. This could easily treble or quadruple from here. Negative BMD (WN for sale etc ). One wonders why he has such much interest in this, I assume he has sold out long ago.
Why on the 18th August did Rathlin sent a letter to the council proposing to set set up community fund in the event of commercial success at WN. I assume they must have known by the 18th of it's commercial viability or why send the letter?
Agree, even if the B well is a duster it could well be due to being at the edge of the reservoir. B well was drilled X kilometres from A well to assess the extent of the acreage. Note B well initially had poor results hence the need for Bz sidetrack. I would not sell up IF the results are poor because if A well comes in good we're back in the game.