Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
https://twitter.com/withnellblu/status/1327703521978888192?s=19
Rubey.
I've no issues with UJO but in my experience (and I know plenty) many UJO investors are trader mentality Pi's who fish in the micro end of AIM and have had their fair share of failed investments. Their mentality is to get out at the first sign of a positive result.
Coupled with the fact a number of well known twitter Pi's with form for pumping and dumping have historically been involved in UJO.
So for me - its a traders share and many investors will exit in a heartbeat.
I've learned over the years to let the winners run. Bailing with a 40-50% profit + patting yourself on the back is fine but it doesn't accumulate wealth. You need 200%+ to make serious headway.
According to the protestors Facebook feed the rig is back up and running. Good news.
Acid Frac in Romania for IMIC-1 a pleasing development. Things weren't looking good there. The well was damaged during the drill (due to a downhole pressure blowout situation at TD, which not only stopped them reaching the deeper Oil target - but also meant they had to cut the drill short & complete the well as a producer so as not to risk losing the entire well). So the fact that they have collected quality gas samples, and there is a plan to facilitate commercial flow is welcomed.
Not everything is on WN following Colter failures & rather underwhelming Cali 90boepd from their 4 Wells.
WNB-1 is a vertical well targeting the Cadeby formation - which is potentially much larger than the KA formation. By default this well will further appraise the higher KA formation in order to reach the Cadeby formation which is deeper.
WNB-2 will be a horizontal well through the Kirkham Abbey formation - and will be completed as a production well.
This has been stated by RBD repeatedly and is detailed in the latest investor presentation on the website. Whether they drill WNB-2 is another matter.
Recent half-Yr results said they plan to do an EWN at both WNA and WNB straight after the WNB-1 drill
Thats the work programme for the next 6 months.
Personally I reckon drill results won't be until early Dec. The earlier the results the worse the conclusions.
Rubey,
With the greatest of respect - in my humble opinion you're way off. Getting approval to drill WNC&D will take years. And I mean years.
The approvals process in the UK takes an eternity. The WNB drill location and permissions were secured well before RBD investment into Rathlin.
For anyone who's met with S&S - it's v clear they are only interested in proving up these assets and selling them on. V simple.
RBD has a finite life expectancy as a business to allow them to execute their strategy in these low oil price times, where assets are stranded of cash.
S&S have had the begging bowl out repeatedly & the original investors are pretty much break even. S&S gotta deliver. IMO there will be no more raises until something significant is monetized and they have proven up their business model. Simple as that.
Panmure acquired WH in March 2020 but it's not closed until now due to regulatory compliance authorization issues. Anyone who doesn't understand this & reckons this move is in any way "sinister" really needs to do their research on how corporate finance works.
Doh - they aren't joint brokers. Panmure & Whitman Howard are the same business now.
Read this: http://www.panmure.com/strategic-update/
So Panmuer taken out Whitman Howard - wiith their strategic aim of "ensuring Panmure Gordon is the leading broker for small and mid-cap companies in the UK".
So what does this mean? Well it means we have the best broker in the small/mid cap space as broker. And what do brokers do? Well they basically promote & "sell" RBD shares to HNW individuals and ii; i.e. where the real money is.
Akin to "Wolf of Wall St" - but that's a bad / immoral broker. But Panmure / WH fulfill the same function. Networking & building relationships with monied clients & then convince them to buy their clients' (read RBD) stock.
This covers it well: http://www.panmure.com/strategic-update/
So - considering the overwhelming positivity of the start of operations at WN; let's think of some negativity to post?
Ah California. Yes - the same every time. Even the best always have a weakness.
And the best way to undermine? Let's build a case around tomorrow's date. And nothing will happen on that date (RNS wise). V simple tactic to undermine and spread negativity. Been happening for thousands of years - to suit an individuals agenda.
So why do this? Purely for self interest.
Rubey /Jack,
I think we are all on the same page here. Been patient & we back our judgement. Soon we will know whether we are right or spectacularly right. Many forget the Kirkham Abbey Gas & Liquids is already proved up. So we are still in the box seat.
Jack,
Thanks. I'm 95% sure WNB-1 is that vertical well into the Cadeby. Main reason is the horizontal doesn't touch the Cadeby formation & on the BRR PR video yesterday Steve Williams said the main aim of WNB-1 drill was to expo the Cadeby. The WNA-2 well snagged the tip of the Cadeby reservoir - and it had oil in it but was v poor permeability - so the whole reason for WNB Drillpad location is the optimum site for hitting the fat part of the Cadeby formation.
I'm active on here now as things are in play now. I've long been invested in RBD as i like their strategy - but it's been underwhelming here upto now & a haven for naysayers/derampers. Clowns like oilman Jim on twitter. Can't argue as Cali numbers unclear /smoke & mirrors, Romania lots of potential but nothing great yet (although IMIC-1 under test now). Wick dry hole, Colter underwhelming, etc etc. But this West Newton play. Huge resource already proven up & still plenty to be proven. Life changer for many here with the balls to be in big.
J1,
Yes the local council have authorised extended road closures around the whole WNB site. Only locals allowed thru. Partly safety partly protestors. There is a permanent protestor camp of 4-5 caravans - they are a "monitoring group monitoring that Rathlin do everything by the book in relation to their planning permission. Been thru all this with WNA drill last year. All over Facebook /twitter if you are interested.
J1. The WNB site been constructed in the last 10wks. They've built a special access road across farmland to get there. Certainly on Google maps you can see the WNA Drillpad & the WNB site is 2km away. Dig on twitter in particular and you can see aerial drone footage of the location of the access road & new drillsite. There's a protestor on Facebook called Callie Riviera whose Facebook account has a lot of live stream vids on it. Can see clearly what's going on.
JD,
I believe you've got them the wrong way round.
WNB-1 is the vertical well to expo the Cadeby formation thickness at the optimum location to drill this (ad the Cadeby formation is the more valuable of the 2 plays here (KA & Cadeby).
WNB-2 is the horizontal well to appraise the KA formation only - and would also be completed as a producer from the KA reservoir.
I'm a LTH here. I rarely post here as there is a clear (to me) paid contributor with a deramp / negative agenda who seems to lead more innocent contributors astray. I've plenty of experience of these kind of operators.
Ask yourself a question. Why would anyone who is articulate & and well educated spend their time posting about a stock they don't own (and it's an overwhelmingly negative monalogue). Answer. For personal gain.
GP,
You're right - this drill appraises the KA formation (by the nature they have to drill thru it to get to the Cadeby) - but the No1 reason for the WNB-1 drill is to expo confirm the Cadeby thickness of the reservoir & whether the geology will facilitate it to flow. A success at Cadeby could well eclipse the KA discovery. So this drill either confirms 1x discovery (as KA is in the bag); or gives us 2.5x what we have at present - so potentially a hugely significant drilling event. Hence the massive £ raise etc. All to drill WNB-1.
Well Wick was a dry hole. And Colter is a discovery but smaller than seismic identified. So it's basically a failed project sadly. UOG who are one of the partners stated in their annual report that it was a write off. I still believe Colter holds some value - most probably more than RBD have invested to date but considering its 18 months since the drill & nothing has moved we have to assume its a back burner job. Oddly they RNS in 2019 they were going to IPO Corallian - presumably to then drill Curlew. But that's a more risky prospect than Colter.