Member Info for Rubey

The BBC report is from when Colter was drilled last year Ted. I believe there are no plans to do further drilling works there.

Be nice to hear from these posters again soon.
Miker444
silolondon
Chrishutch

I think UKOG got OGA permission to produce earlier this year krull, but they certainly appeared to take quite a few tankers away during extended testing.

Absolutely right krull. Maybe sell oil produced during extended testing rather than as official production?

As I posted on Thursday, I trust they'll get the balance right between proving up and selling on. I certainly don't think they are looking at going into production, but I do expect more drilling to prove up West Newton with WNC and WND, and possibly drills at Ellerby and Spring Hill. These opportunities don't come along very often, and it would be remiss of the BoD to sell the licence too cheaply too soon, in my opinion.

Berk.

And if you mean me same to you with knobs on.

But I am curious why you'd say that.

That's a shame TL.

Best you filter me artyth.

Thanks TL. That doesn't appear to be what they're saying now to be honest.

Who told you I'm a new investor? I've been invested since S&S took over. Anyway, would it mean you'd be cleverer than me or you're opinion would carry more weight if you'd invested here first?
Where did they state they are going to sell after WNA EWT and WNB drilling? Just because someone says it on twitter it doesn't mean it's right. I'd rather they kept it for 3 more years and sold for 5 times the price. I trust they'll get the balance right between proving up and selling on.
No doubt there'll be opportunities to sell along the way if you wish to do so, assuming they wish to produce a thorough field development plan of course.
Money raised and invested in proving up the licence is money well spent for investors, if the prospect is as good as expected. That's how business works, unless you've got a convenient money tree.
If you don't believe it will succeed, I'd sell if I were you.

I see rumours are that WNC and WND are Ellerby and Spring Hill. Not the case if you look at google maps - both are within the perimeter of the West Newton structure. This is a very big area, and they clearly want to follow the most sensible drilling plan to make sure money is properly spent to put together a FDP. This looks to me like they'll not be selling for a while.

Jack, I believe WNA-1 was drilled to TD of over 3000m, and encountered the Cadeby formation between 2080m and 2117m. I believe pressures were high and perhaps contributed to the well not being tested. I believe they knew they had plenty of gas and more than a suspicion of oil being present in the Kirkham Abbey. So from memory Kirkham Abbey was given a 60% chance of success of commerciality, and the Cadeby was given a 26% chance of discovery, in the CPR.

I understood the Cadeby formation was cored and found to be oil saturated at WNA-2. Today I asked Reabold's PR company Camarco to confirm that the statement "The well also encountered hydrocarbon shows within the secondary target Cadeby formation with an oil saturated core." was correct with Reabold, and I believe having confirmed with the company they replied 'The press release remains accurate .... from our understanding.'

Union Jack/Reabold
The companies say that Rathlin Energy as operator of PEDL 183 has submitted screening requests for two new potential hydrocarbon well sites West Newton C and West Newton D. These will determine whether they will require EIA’s and screening options will be available following consideration of the East Riding of Yorkshire Council Planning Department.

‘The Humber region is the UK’s largest energy hub, contributing £18bn towards the UK economy along with 27% of the UK’s oil refinery capacity’ and is the companies believe that the West Newton field has the potential to provide local feedstock to the the project.

Given that these foreign imports come at a higher cost to the UK and with an increased carbon footprint, it seems like a pretty straightforward, even obvious opportunity for the local area to acknowledge.

I know what I believe Jack. That's why I'm up to my eyes in RBD shares!

Just a reminder:

https://www.brrmedia.co.uk/broadcasts/5d078578221579216107e037/reabold-resources-west-newton-discovery

And 3 minutes in:

https://www.brrmedia.co.uk/broadcasts/5d9dc70ff8cc7162f3b03c47/reabold-resources-placing-to-raise-24m

Thanks Albinio. I note it states:

The well also encountered hydrocarbon shows from a secondary deeper target, the
Cadeby formation with an oil saturated core. This is very encouraging and this
formation is planned to be intersected from the West Newton B location where
optimal reservoir development is expected and planning permission is already in
place. The Cadeby formation was ascribed gross prospective resources of 79.1
mmbbls and a 24% chance of success prior to the drilling of West Newton A-2 well.

I'm sure David Bramhill was quite upbeat about the Cadeby formation in his recent proactive investor and Steffi interviews, but I can't seem to find them.

Thanks GP. We still disagree over the Cadeby formation though I'm afraid. : )

Interesting post GP. Are the daily drilling reports available to view anywhere, or are they only available to insiders? Thanks.

Thanks a lot Badger.

Thanks Badger. Do you mind posting a link please?