Member Info for rsproson

Sorry persimmon - I misread something there. I genuinely thought all was in place.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RBD&ArticleCode=yzgxu7th&ArticleHeadline=Update_on_Wick_and_Colter

All permissions granted for drilling Wick AND Colter were in an RNS on 13-Nov-18 07:00.

You bring this up every other day. Anything outstanding are checks done when the rig gets the the site - there is no delays with this.

Good game all

So everything is in place for Colter to go ahead. These outstanding will tick green when the RIg spuds.

The outstanding permits don't get signed off until the rig is in place. This is exactly what happened with Wick.

VG-3 is already in production. VG-4 was successful and I think is now also in production. I agree some confirmation on figures/cash flow would be nice.

I think the point is Wick was never a strong asset in Reabolds strategy. No money was directly funded to it. They added exposure to Corallian due to the numerous opportunities it provided. Wick just came with the package.

Not at all other than when the rig will be moved from Wick to Colter. They are miles apart.

Wick done so we are now a step closer to Colter. Great news for UOG.

Wondering if MrAim decided to put his 5 figure sum into here today lol.

Waiting to see the trade.

Great price down here. I think some are waiting for Wick results due to it being exploration. However if that is successful then there will be a gap up. Don't think it would fall much on Wick being a duster either due to it being a free carry and all the other drills due news.

Rig should be at Wick until around the 15th, then it will take around 4 days? to move to Colter. Once the rig is in place it won't take long. I would expect news on Colter in the week of the 21st.
Always good to remember this is appraisal well. Risk v Reward play here is very good.

Looking good but I am expecting Wick update next week. I had this pencilled in for the 15th as a rough estimate. I would be surprised to see an RNS tomorrow or Friday. Happy to be proven wrong though. I would expect the update to include the rig to be on the move as well and not still at Wick.

Market starting to wake up to this IMO. By the looks of twitter everyone seems to think it is just UJO in Rathlin. Do we not have the biggest stake in this?

Gas to wire process would still create steam/haze. So it would still give us a heads up. Gas doesn't just flow down a wire lol.

Why is that? The one at hh smokes away.

Very true. Look at Balcombe. They updated the market with initial flows after a week. Not when they started. Although with the photos on twitter we could see this move with a 2nd tanker or smokey flare stack. Don't need an official rns to keep things going. I'm sure there will be something exciting to keep everyone happy today ;)

Just wait for the RNS to come

Think I misread something then. Either way it is a free carry for Wick with their interest in Corallian. Seems to be all on schedule.

Wick is exploration, unlike most RBD assets which are appraisal wells. So this is probably the highest risk asset right now, but RBD have not paid for this, although if successful they have the opportunity to purchase a percentage. So Wick would be a nice bonus on success but if not it has not cost us anything. Win win.
Fingers crossed for a bonus. Then onward to Colter which is appraisal. News of this spudding should have a positive effect on the SP.

Remember persimmon - RBD enter every asset deal with a clear exit strategy to return best value to shareholders and produce cash flow. If they prove up the asset holds oil with good logging who knows, their exit strategy might be to sell the asset at this point. Although I don't think they would advertise this upfront we would be told as and when they have exited.

West Brentwood was expected to succeed due to success at VG-3. Great that we add cashflow from this though.

The rig is moving on to Monroe Swell now which should re-rate significantly on success. Cali drills don't need to jump through all the hoops like the UK wells, so the rig should be at Monroe Swell fairly soon and drilling will start soon after. Meanwhile we have Wick which has spud and should be complete with wire logging mid January, then on to Colter. It will be hard to keep up with what is going on this time next month.