Member Info for Uggy100

Excellent post Genghis. I can't see them doing another raise until they're proved they can sell an asset, if it's WN then they shouldn't have to do one again.
I'm ok with S &S at the moment but think they've been a bit cavalier with the book build. Far better to have moved after the EWT when the lroject has been further derisked imo.

We should be getting news on VG6 shortly. Hopefully a nice start to the new year.

Well as I understand things they are in default on Bisc & unless they can raise funds pdq their share of the license will revert to the operator.

Is rhat not what GP was saying.

GreyPanther, i think you're spot on.

rana

I don't care what you think anyway, you're just a troll.

I'm a lth but am bitterly disappointed by the way the management have handled things. They are incapable of delivering what they say, project Wallace for instance. Let's just hope they have enough on their plate for bow. Any attempt to try to raise additional project will be met with short shrift imo. Parta timelines have slipped (shock) because of long lead equipment, well as they are experts in the O&G space they should have been well aware of that but didn't stop them being gung ho. They now need to concentrate on what they currently have & do what they said on the tin it's called monetisation so get on with it. None of these carp podcasts just real news please.

Not a bad interview.
However it was completely stage managed. Any decent interviewer would ask what happened to VG5, sums it up really.

Woodstock, shouldn't that read
I am never right ?

PDMS
I agree with a lot of your comments & I'm concerned at the amount of money they've thrown at WN when there remains a good deal of risk on the project.
However, we now have an increased stake in Rathlin & if it is successful we will benefit immensely. S&S still need to monetise this & I'll probably hold for that, failure to do what they have continually said is their busines plan will have me heading for the hills.

GreyPanther
The drills at wnb are to delineafe the extent of KA & use the opportunity to continue down to Cadeby in an area where they anticipate bretter porosity & permeability. The second drill will be a horizontal across KA which i would imagine will be drilled as a production well. Makes perfect economic sense to do it this way. If they hit oil at Cadeby (&i think they will) the value of the license area will rocket.

Well I'm hoping for some activity within 6 months. Wasn't the whole idea of the book build to accelerate the programme ? What a joke.

Woodstock, did you ever find that elusive piece of information you clogged this BB up with? No as it didn't exist, best you shut up then.

The one thing that is completely clear is that the JV partners should clarify the current situation. All of them are guilty of keeping us in the dark & is therefore intolerable. They need to pull their socks up.

Not losing the plot here but RBD delivered an ongoing plan. notwithstanding that their projections were shot down by Rathlins disclosure to the liason committee within 2 weeks that refuted the timeframes, that's ****e & not good enough. At no stage have our BOD updated us since. PI.s have been substantially diltuted as a result of the "bookbuild".

I hasfen to add I don't regard it as being an issue but was a bit surprised that with a gas cap the reservoir appears low pressured.
I'm not deramping as i have a substantial holding here.

I read CJ's blog but he tends to get a bit carried away.
I saw the video of the flare stack & I'm not sure there was smoke it looked like heat haze distorting the background but the clip was poor quality. As we now know that the oil will need an esp to lift it how could the oil have reached the flare stack or am i being thick ?

PDMS

From rns dated 3/12/2018
Completion of the deal was conditional on, inter alia, Connaught Oil & Gas Limited ("Connaught") agreeing to settle a liability of £33.8 million owed to it by Rathlin and the finalisation of a farm out, by Rathlin, of Licence PEDL183 (onshore UK) to Union Jack Oil plc ("Union Jack") and Humber Oil & Gas Ltd ("Humber") (the "Farm Out"), resulting in Rathlin retaining a 66.67 per cent. equity interest in Licence PEDL183. These conditions have now been satisfied.

Whilst I might add a small amount more I'm not going to try to catch a falling knife

Perfect storm for us lth's , large seller in the background & little appetite for buyers due to no meaningful updates re WN. S&S PLEASE TAKE NOTE.