Member Info for Shurething

Hi Honestopinion. I don't think Trevor gives a stuff about RMS's share price and if it drifts downwards. He and BRH have already made their money and scarpered. As I have mentioned before he will be one of the first to know when RMS starts to secure significant contracts. Plenty of time to make a strategic move then!

For those who are interested. Perhaps there is a shortage of knowledge of UK onshore activity. The Humber area - both north and south of the estuary, is currently the most prospective ground in the whole of the UK. You still need the right 'trap' though in order for the oil and gas to have accumulated and be confined to the reservoir rock. https://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=29c31fa4b00248418e545d222e57ddaa

Agreed TradingLad: perhaps not wholly relevant to the company in question except that Boris is a bit of a 'dick'-tator and likes to spout on about his green objectives and credentials ... too much.

On Europe: agreed it shouldn't affect RBD! However, we will be affected because this would have been difficult enough without Covid. If the EC is an Empire than we are but a colony - and like the colonies who liberated themselves from us in the 50's and 60's in particular (I've worked in a number of them) people say 'things ran better when we were a colony'! So my guessing is that it will be the same for us: we will struggle and suffer and regret we ever left!

You are right Marco. My feeling is that this will only move one way over the next few weeks and months.

Agreed - particularly as the UK Government's calculations (estimations) regarding green energy are grossly oversimplified. Ground source heat pumps are for quarter acre gardens, wind farms will prove increasingly costly because of REE shortages. Plus they don't mention in their green propaganda that Norway has enough natural gas already linked to the UK to supply us for the next half century. Retro-fitting Victorian houses to become thermally efficient - lining costs average c. £15,000. Can we all afford electric cars and where is the pool of cheap, second-hand ones? Regretfully, the gov't's promises and deadlines are to a certain extent just a lot of 'HOT AIR'!

Tick up to .61/.63

Kirkham Abbey Fmn. is an excellent reservoir rock. As an oolitic limestone (dolostone) it will have quite consistent porosity.

https://webapps.bgs.ac.uk/lexicon/lexicon.cfm?pub=ROD

Fag packet calculations based on oil column and porosity and consistent thickness of the Kirkham Abbey Formation at c. 70 to 80 metres are oil reserves of c. 25 million barrels per km2. Say 10 km2 reservoir area would give 250 million barrels. That is close to RBD's upside case of:
– Liquids: 283 mmbbl OIIP
– Gas: 265.9 bcf GIIP

Wytch Farm turned Perenco to profitability. Looking at the figures they paid for what was by the time a 40 year old field and allowing for the current depressed crude oil price, if the test pumping proves to be successful then RBD are going to be worth a lot more than their current capitalization:

In August 2017, Perenco acquired Maersk Oil’s 3.7% stake in Wytch Farm for £7.5m, and then acquired a 33.8% interest from Premier Oil for £131.5m that December.

That was followed by a £41.5m acquisition of Ithaca Energy’s 7.4% stake in March 2018.

Yes Manwell. Most potential investors are oblivious to onshore UK oil and gas production and Wyth Farm is on a scale way bigger than any of the other operations. To compare this with it therefore is a very significant claim.

Wytch Farm
Oil Field
Wytch Farm
Wytch Farm is an oil field and processing facility in the Purbeck district of Dorset, England. It is the largest onshore oil field in western Europe. The facility, taken over by Perenco in 2011, was previously operated by BP. It is located in a coniferous fore…
Wikipedia iconWikipedia
Country: England, United Kingdom
Operator: Perenco
Discovery: 1973
Start of production: 1979
Current production of oil: 13,500 barrels per day (~8.44×105t/a)
Peak of production (oil): 110,000 barrels per day (~6.9×106t/a)

The 1973 discovery was Wytch Farm - which at its peak was a sizeable producer - read Wytch Farm Wiki page!

.... further suggesting that the West Newton discovery would be the largest UK onshore discovery since 1973. Read yesterday's RNS!

Excellent. Bought in on the drop - mid-.50's. Now .6 and I expect will continue to rise as news breaks through to others.

Good call!

... for the day?

Excellent interview: demand because of wind turbine requirements and electric and hybrid in particular will drive demand.

Today's trading was typically farcical MM 'games'! It reminded of something mentioned about my great great uncle Albert (Mum's side) who was an extremely successful share trader. He was known to get on the blower to his broker and tell him: 'you know those shares I bought yesterday, well sell the b****y things!'. It seems in the case of RBW ..... DON'T!

Nicely!