Reabold Project Wallace papers September 201911 Dec 2020 08:11
Rathlin transaction overview "$29 m investment for $274.4m of additional value ($62m core and $212m unrisked NAV) excluding upside from oil discoveries and assuming unchanged volumetrics in the Kirkham Abbey." Well we know the oil is there and the volumetrics are changing and they have increased their investment in Rathlin and have a 16.5% direct interest since that was written. So what is it worth now?
In all the hullabaloo on that day a lot of pi missed the significance of the information presented in that RNS. They already knew the results of the A2 well in the nnw and the new well was to find the limit of the oil and gas reservoir at the sse extremity,and now a sidetrack back to the nnw will prove ( with a hydrocarbon charge ) the size of the reservoir North to South and that it is connected. These latest RNS are not for pi's but for II's and other interested parties.
Rubey this is what I have been trying to understand today,is this a 2.5 km connectivity NNW/SSW in the KA formation. Have they found the limit in the SSW direction because they believe a hydrocarbon charge occured but believe a sidetrack will give optimum production returning in a N W direction.
RNs translator if you look at RBD website it also says "potential well paths " so they were keeping their options open for the sidetrack which they have now adjusted.
Thank you for the reply Grey Panther. From today's RNs " The Kirkham Abbey formation indicated a hydrocarbon charge based on wireline logs, cuttings and mud gas readings." So they do have some data but perhaps not enough at this time.
I should have posted " at least as far as West Newton B ", I am trying to understand if the Hydrocarbon charge demonstrates connectivity between the two sites.b. Thanks.