It’s been a great week or so for Raithlin Energy & all the partners in their West Newton discovery. The only question that remains is how big is the discovery? Well sources from Raithlin, OGA & local indicators are inferring that West Newton is set to come in at double what is currently being touted.
To put that into barrels of oil equivalent circa 60,000,000 BOE. It’s set to be the biggest onshore gas discovery in 50yrs. Make no mistake it’s a question of when, not if, increased numbers are confirmed by Raithlin.
I’m hearing that all the partners have deliberately been downplaying the size of West Newton until they are officially allowed by the Oil & Gas Authority (OGA) to confirm the above numbers. This is almost certainly due to the protesters at the site. Who’ve created a major Police headache. Of course people are allowed to protest and I personally am against fracking. However West Newton isn’t fracking. It’s a conventional O&G drill.
In cases like this All partners agree to a template RNS. That agreement basically went out the window via Reabold Resources (LON: RBD) Who it’s believed, decided to brief the press on Friday last week via an embargo i.e Write it up but only publish on release of RNS.
Having been busy all week with various business & personal matters I’m actually on catch up here. I can see that the usual shyster, troll scumbags, who were deliberately posting malicious bullshit about water and a ‘big hole leaking all the gas’ away have changed tack, attacking any and all who’ve been fortunate enough to back West Newton and reaped or are reaping the financial benefits. Some of the abuse directed at the Major Holder/s, the partners and their Investor Relations has been quite disgraceful. Again this is just envy & spite at their failure to make money and others success at making it. Ignore it. These wankers are not RBD/UJO shareholders they are part of various P&D crews whose form on stock picking is equalled by their vile, jealous fits of rage. I enjoy seeing them scream abuse at INVESTORS who financially backed West Newton and made fortunes. It’s testament to their failure. LOL!
One moron, was ‘carping’ on about how he’d extrapolated, from the billions of shares bought/sold that a Major Shareholder had sold out all his 7%. Laughable Mr Newman of ShareProphets…… Stick to carp fishing Gary…. Or better still bottom fishing. Ever thought of investing in copper? Thought not….. Gary is one of the Copper Cowboy P&Ders. His track record isn’t exactly Pulitzer….
So, just how high can RBD/UJO rise? If I knew then what I now know, I wouldn’t have derisked taking £18,000 in profit. There could be 60 million barrels of oil equivalent about to be announced.
Good Luck
Viva
Dan
I think it’s going to be closer to 80 million now mate. You’ve only talked about the gas.
Oil stains are “saturated”. It’s a biggie.
holy wonga this is the biggest well ever found onshore UK massive news i am buying now before hits the SUN !
Ordered my Lambo already
I’ll settle for a Fiat uno for Mrs Rant.
Thanks for your insight on these oil companies. On the whole I’ve done ok.
Half a penny now, Dan.
You should buy back in.
Bestest
Paddy.
Professor Peter Styles has previously said acidisation is still effectively fracking. He’s one of the leading experts in the UK. He is the guy who warned Cuadrilla not to frack as they were intending due to the threat of seismic activity, which as we know led to the earthquakes that triggered the moratorium. So I’m inclined to listen to his views.
Far be it from me to dispute what a learned Prof’ believes. However there are other ‘learned’ academics that would take a different view. I can only go on what the actual definition of fracking is legally. If the O&G authority/Enviroment Agency advised that Matrix acidization is fracking by the back-door then I’d support a ban.
A matrix acid job is performed when acid is pumped into the well and into the pores of the reservoir rocks. In this form of acidization, the acids dissolve the sediments and mud solids that inhibit the permeability of the rock, enlarging the natural pores of the reservoir and stimulating flow of hydrocarbons. There is NO fracking of the source rocks.
Standard industry practice. That doesn’t mean to say there are no environmental dangers lurking. However, one shouldn’t confuse matrix acidization or an acid wash with fracking. Totally different.
If you’re going to protest about fracking then protest at a drill that’s fracking.
If you’re going to protest about Matrix Acidization/Acid washes then protest against it. That’s your right. But don’t deliberately protest against fracking when the operator isn’t fracking. Your integrity suffers.
Dan
x
***FYI. West Newton: Matrix acidizing is done at a low enough pressure to keep from fracturing the reservoir rock.
Acid-Fracking: Fracture acidizing involves pumping highly pressurized acid into the well, physically fracturing the reservoir rock and dissolving the permeability inhibitive sediments.
That’s what I call a terrific reply from a guy who knows his oil and gas.
I’m not protesting. I’m just pointing out what the former advisor to David Cameron has mentioned.
Yes you’re protesting. Get off with your selective 1 man advisor there’s hundreds of professional academics if not thousands that know its a conventional vertical drill, not a fracking job so do one Swampi. Lying tosspot. Go, clean up the disgusting mess youve left in the fields of West newton. Plastics, paper, empty gas bottles, fag packets, fag butts and shithouse bog roll stinking the countryside up. Worse than pigs. Shitting all over the village. Glueing yourselves to the road, slow walking HGVs and hurling abuse at police officers. Do one stinko!
My mistake. Should have been clearer. I’m not directing my reply specifically to you. I’m trying to address the wider audience etc. I’m all for saving the planet. Big supporter of Solar, Wind, and wave etc. Alternative clean energy gets the thumbs up from me and most right thinking individuals. The problem we’ve got is that it’s a hydrocarbon global economy. It’ll take an almighty effort to wean the world off oil. Too many vested interests at this moment in time. Bigger protests and more factual based science/evidence will eventually win through.
Until then I’ll keep trying to navigate investment with some semblance of ethics.