Member Info for RonnieB

Anyone know the cash position here, is a placing imminent?

What was the point in applying for additional 6 wells; if 2 already drilled don't flow another 6 will probably not flow either. I assume the next prudent approach is to stimulate the 2 already drilled wells before drilling another. Anyway will be interesting to see what news comes out over the next couple of weeks on plans going forward.

I wonder if a proppant squeeze will be applied at West Newton?

Concern is this co. pre-tax loss for 6 months to June was £10; with £3.6m in cash; further £2m raised via placing leaves £5.6m. Pro-rata this will not last long. Distressed sales of non core assets may not bring in the cash expected. The placing discount and small amount raised is a red flag. This could have been done earlier in the year when SP was lot higher and more cash raised removing a lot of uncertainty.

Regarding EQT was a classic, could buy at 0.09p late 2019 early 2020 by Jan 2021 it hit 3p 30 bagger. Now 1.2p but still bagged 12 fold from lows. Worth the risk but don't put the house on this.

Hysteria taken over, this was not a duster; oil recovered to surface albeit not in sustainable flows. Let's see what experts say regarding the stimulation methods. If successful its game on, maybe a propane squeeze.

So Malcy thinks better to drill with oil based fluids; water based fluids causes formation damage. I wonder if remedial-stimulation works can sort this out on both wells?

From the previous RNS "with a view to further testing of following the results at the A-2 well". Equipment now of site so no further testing required?

Well if WN is a duster that makes the decision of UJO director to recently purchase and to add to his significant shareholding seem silly.

1267 is crude oil

A director in UJO recently purchased £50k in stock, increased his already substantial holding, why would one invest so much of his own money if WN were to turn out a duster? Probably knows more than most!

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.

All hot air, this will go through on appeal 100%. Wressle refused by planners and granted on appeal.

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.

If the eco warriors get their way the new heating source will be a woolly jumper for the working classes while the better off can afford to pay the increased costs.

If UJO done a rights issue to existing share holders that would sort it or pull the placing and borrow the cash or pull the placing altogether.

If one reads the RNS back in March 2021 regarding the royalties it mentions further investments were planned later this year. So old news being put back in to the public domain.

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.

Anyone have any info on the Italian court situation? We must be near an update on this soon, the cash should add good upside to the SP.

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?