(It’s taken so long to source & firm this up that I’m amazed it’s not already leaking)
Last Wednesday I was in London on a ‘hush hush’ mission to glean information on Companies that I’m interested in. Doesn’t matter if it’s negative or positive, occasionally the ones you think are negative can turn positive and vice versa. For me it’s all about beating the corrupt corporates and telling it as it is. Good or bad….
Most of the meetings I attend are pre-arranged, some times, like the NUOG lunch, crossed wires conspire and the meeting/s get missed. It’s no ones fault, that’s just the way it goes. But that missed opportunity was filled by two hastily arranged ‘coffees’. One with the current FCA registered SER Director (Mike) and the other with an official (Nomad) whose company represents one of the two London listed oil company’s with an interest in West Newton.
Being a ‘cautious’ type I chose not to immediately write up my West Newton scoop from the second of those two unconnected ‘tete a tetes’ until I could make enquiries with different sources to ‘cross reference’ and firm up what I was being made aware of. Kind of test the water etc. That’s now been done. Several unconnected sources from London and Canada all confirm.
Once again ‘yours truly‘ delivers to you a massive exclusive on Rathlin’s West Newton drill. The drill that has already been declared by the partners as a ‘Major Onshore Hydrocarbon Discovery’.
News leaking on the West Newton Discovery indicates that all partners are ‘cock ‘o’ hoop’ on the data sets and core analysis from the operator Rathlin. There’s been an enforced blackout and much debate within the group/partners on keeping the numbers unannounced until all the core analysis has been completed. This could be because there are persistent whispers of at least two majors sniffing about.
The scores on the ‘Oil No’ Doors’ are way above expectations. That news is now in and should be released immediately by the partners, especially as it’s now in the public domain, post the publication of this article.
So you can take it from me that news is on the way from the Rathlin, West Newton drill, that could result in a huge, and I mean huge, increase in the share-prices of both listed companies who have a stake in West Newton. (0.92p) Reabold Resources (LSE: RBD) who now own 59% of Rathlin which equates to a 39% interest in West Newton and (0.22p) Union Jack Oil (LSE: UJO) who have a direct 16.6%.
The ‘Oil in Place’ numbers from the analysis of the core samples has rocketed upwards and will indicate a minimum of over 140,000,0000 boe (barrels of oil equivalent). The high case is thought to be close too, if not over, 200,000,000 boe. Both Nomads have been briefed as have the O&G Authority.
If those numbers are confirmed and I’m 99% certain they will, then the SP of both companies should rise significantly, regardless of talks that may or may not be happening. I’d expect on these figures, coupled with a successful Extended Well Test (EWT) share-prices of multiplies on both London listed company’s. These numbers indicate one of the biggest onshore hydrocarbon discoveries in the UK.
Knowing Nomads as I do, from my short tenure at Sefton, you can bet your last shekel that emails will be flying back and forth on publication of this article.
Which means that an announcement is imminent.