Member Info for Rubey

No can do GP. We'll just have to disagree on this one.

Thanks GP. I hate to throw a spanner in the works, but I'm pretty sure a core was taken from the Cadeby at WNA-2.

Morning GP. I thought 3D seismic was part of the company's fundraise last October, so maybe it is progressing? I'm sure further drilling would be some time away - perhaps 2022? But the council seem very fair and the local landowners appear to be supportive. The police are doing a good job too, so there are a lot of positives to continuing to progress towards proving up the licence area, not just West Newton, in my opinion. Plus of course the boys have the right contacts to fund any expansion of the current work programme.

Indeed krull. An RNS like this should get some media attention hopefully.

Good post C.

Personally I hope they fully prove up the licence area before passing it on to a major to produce.

https://www.proactiveinvestors.co.uk/companies/news/927117/union-jack-oil-and-partners-advancing-efforts-to-plan-next-wells-at-west-newton-927117.html

It's a carefully worded statement to antagonise other posters and disrupt the board, and he's achieved what he set out to do. Instead of discussing a great RNS his post is being reposted. Can't LSE remove this troll permanently?

Graham Bull stated before WNA-2 was drilled that to fully exploit West Newton probably 6 wells would be required. He also mentioned Ellerby and Spring Hill as being considered as like for like to West Newton.
How far will Reabold take this great opportunity? Sell after WNB-1 drill, WNA-2 and WNB-1 test, or put together a thorough FDP with further extensive drilling?

Stephen Williams commented:

"Whilst the current focus at West Newton is clearly on the drilling activity at the B-site, and subsequent testing of the B-1 and A-2 wells, it is important to be thinking ahead about the further development of what could potentially be an asset of significant scale."

No wonder they are trying to get Shell involved.

Absolutely right isdeer and Barking. Very positive RNS.

And the oil saturated core taken from the Cadeby formation at WNA-2 is Scotch Mist.

CB, there is little logic ever in my opinion in the share price. But I believe there will be a firm value which is way above the current share price when West Newton is sold. All anomalies and imbalances will disappear in one fell swoop. The intervening share price is irrelevant unless you are buying or selling.

In my opinion CB there are a few pieces of the jigsaw missing, none of which are necessary to complete a commercial picture, because although WNA-2 has not been fully tested, I believe they already have enough pieces of the jigsaw to regard West Newton as commercial from the limited test undertaken at WNA-2 and what they also found at WNA-1.
It will become increasingly and significantly more valuable if:
1. The WNB-1 drill shows the Kirkham Abbey formation at WNB is similar to what was previously found at WNA.
2. If both WNA and WNB tests flow oil and gas from the Kirkham Abbey formation.
3. If oil is found and flows from the Cadeby formation at WNB.

'Many forget the Kirkham Abbey Gas & Liquids is already proved up.'
Very true Rovers. And it's clearly not figuring in the share price yet.

In action:
https://twitter.com/Gravy_Stock/status/1295782620400365569/photo/1

This arrived yesterday:
https://twitter.com/Adrianwfire/status/1295784177070231552
As can be seen here (bottom):
https://twitter.com/UKIDannyboy/status/1295501770731458567/photo/1

Rovers, I have a 'Share Accounts Book' to keep a close eye on my portfolio, and have done for years so I know to the penny how I'm doing. I now only have Reabold shares listed. I've put a bulldog clip on it to prevent me habitually opening it, and I've written 'DO NOT SELL ANY SHARES' in red ink and capitals on it's front.
I only hope my research is right! Balls deep indeed.

In my opinion the WNB-1 well is all about expanding on this part of the WNA-2 well results RNS (17/6/19):

'Deeper exploration target in the Cadeby formation encountered hydrocarbon shows with an oil saturated core.'

JD, to add, they'll be taking cores as they go, which will be shipped off for analysis in batches. So they'll know pretty quickly what's in the Kirkham Abbey.

Currently 2, A & B.

GP, I believe the location is optimal for drilling the Cadeby formation, which I assume is therefore the primary target for this drill. I'm sure they will feel pretty optimistic from what they found in the Cadeby at WNA-2.