Member Info for rsproson

Might slump a bit after chinese new year? Could open up a good buy price. Depends if it breaks above the current resistance. Either way. Long term you are sorted here.

I won't be going anywhere anytime soon! Patience is key. My target price is far off haha.

Hey all - been avoiding the noise of the boards the last wee while.

Genuinely thought this would start heading towards the 0.9p area after the pacing at a premium and UJO's presentation.

The data is that good they don't really have to well test - that is something I have never heard before. Extraordinary. Yet we sit under 0.6p...

High hopes for the next few weeks/months here.

Good buy Chris! News of some sort must be soon surely. Waiting is part of the aim fun though. Lots of ducks lining up here.

Agreed. All that RNS brought today was a discount for basically a zero news RNS. Unless the MM's are just trying to create some liquidity off it.

The terminal is around 20 miles away. The location is nearly perfect. DB said in his last interview something along the lines of 'everyone saw the flare stack'. Will just have to wait and see but I can see why this would have majors all over it. Not just for the anticipated volume but for the infrastructure nearby that has already had 200 million spent on it and nearing completion. We do have to wait for EWT but no harm in lining the dots beforehand...

Anyone else looked into the Easington Terminal Upgrade? It is due to be complete by year end 2020 or early 2021. https://www.centrica.com/stories/2019/new-lease-of-life-until-2030-and-beyond/
This was planned for the Tolmount field but I have a contact who worked on the Centrica project who says it was to cover 'another field or two'. The main point to take from this is Easington is very much open for business. Thought I would just leave that here. Lots more info if you look into it.

Wytch Farm is the largest onshore oil field in western Europe. Not just the UK. It is some statement!

Nice indeed. Wow. Well done ADME!

No idea how we are still even at these levels. Mad. Last raise was 0.9p 20 million raised by institutional investors who will be looking to double at a minimum. Biggest onshore discovery since 1973. MAD. Bought more at 0.55p.

Someone payed a premium...

I am also interested in the negatives. I have weighed up my own risk v reward and at these levels it seems to me like a good opportunity. As a secondary I also like the chart. I have bought some more the last few days - not as much as you Cuddles, although I already had a good holding.

Also has anyone mentioned the recent grant for 0.5 million? Free money on top of a cash rich and profit producing company.

I think a lot of people don't understand the companies technology side and how the income works. It seems to me like they are very close to some big windfalls - as you mentioned Cuddles. It will take the market by surprise, although that is why I am here early. Like most small cap stocks you have to be in them when they are quiet and the risk is minimal to reap the rewards.

Easy hold for me.

Hopefully that is the seller out to enable a blue week on Monday.

Persimmon - you missed my main point. In the UK acidisation is not classed as fracking. It is conventional. In the US acidisation is classed as fracking. So we will have no issue in using an acid solution if required.

Just read over the WN A-2 appraisal RNS.

I think my favourite bit:

"Evaluation of the West Newton A-2 open hole data has identified an estimated gross hydrocarbon column of approximately 65 metres in the Kirkham Abbey Formation. A cased hole pulsed-neutron tool was run across the Kirkham Abbey zone and initial petrophysical evaluation identifies a gross oil column of approximately 45 metres underlying a gross gas column of approximately 20 metres within that interval.

The West Newton A-2 well exhibits encouraging porosities on logs and in core, particularly in the identified oil zone where in excess of 30 metres with good matrix porosities approaching 15 per cent. have been measured. The core also exhibits natural fracturing which is confirmed by an imaging log run across the entire Kirkham Abbey interval.

Cased hole logging and completion programmes were initiated on 6 August 2019 followed by well test operations which commenced on 20 August 2019. However, with the indication of a potentially significant oil column, the EWT has been temporarily paused, in order to review and revise the well test design, which will now focus on the potentially highly significant oil column. The Operator is currently reviewing the forward plan including the potential to restart the flow test under a different test design, subject to all necessary approvals."

Needing to go back to planning to design a well test based on oil as the plan only counted for gas.

The last Horse Hill sidetrack was drilled I think last summer - and this had acidisation clean-up. I have also looked it up and acidisation in the UK is not classed as fracking, where in the US it is. Tree huggers don't like it but they complain about drilling in general. Acidisation in the UK is classed as conventional and is allowed.

Persimmon, I mostly agree with you but acidisation - since when was this not allowed? It has been done in most wells drilled in the UK for years - even recently. UKOG just finished doing this at Horse Hill (not that the companies are comparable but their licensing is). It is the standard clean up process done in the UK so if something has changed here I am unaware. They will also be able to use a pump and I was sure they had consent for this too? I know they didn't previously for the last WN well and this is why testing came to a halt as they had only planned for gas. So I think we will be able to run a clean-up of acidisation and attach a pump if there is oil and it is required?

Ah, lovely days. Back then the SP hit 1.82p and rested around 1.5p for a few days. Then the leaked placing news. That was a kick in the teeth. However good article, very bullish. We still don't know the scale of this but we know it is big. David Bramhill buying shares on the drop certainly shows confidence in the recent drill where everyone else seems to be wetting themselves for not hitting the Cadeby. Just need to know how well the oil and gas flows and we could be off. At least we know if good results then WN will have a for sale sign on it. No hanging around for permits to move into production.

Looking good today. It is always a nice confidence boost when a director buys a good amount of shares. Especially after 'bad news'... reading between the lines the confidence lies with Kirkham Abbey. Thinking about it that was always the prize. The deeper Cadeby Formation could still come in as a bonus ball on the side track. Although I would not like to speculate. My fingers are crossed for the flow test. Oil is up. Natural gas is looking good in the forecast. Lots of potential.

Huge buying this morning! :)