I see the latest thought is that neither the Penistone Flags nor West Newton will be drilled in 2024? Of course, that is speculation derived from a lack of information. Whilst I also may be ill informed in terms of information when I write my opinions, I do have the common sense to look at the information that IS available rather than make a cursory statement that something will or will not be achieved.
This is why I am extremely confident in both of these assets being mobilised in 2024.
Why?
Common sense dictates that for David Bramhill to state in a RNS that he is expecting to see a renaissance of West Newton, he must have been in talks with Reabold Resources and Rathlin Energy. For Reabold to state they will fund Rathlin’s share of their costs if necessary, this must also have been agreed in principle. The new and unexpected Rotliegen target must have been worked on by the geology team and all of this seems to me to be a strong sign that drilling will commence this year. Importantly, with a general election coming and the fear of a Labour Government promising to stop any further drilling for oil, to ensure the future of West Newton, that drill bit must be cutting it’s path to one of the largest gas discoveries in over half a century. This is all common sense. This has been released in official RNS releases and verbally at the recent Shares Magazine Investor Presentation.
So would I prefer to believe in the likelihood of this happening this year or go with the bulletin board opinion that two AIM listed companies have lied to their Brokers and Nomads, misled the market etc? I think I would rather believe in the more obvious option and go with David Bramhill.
This also applies to his conviction that the Penistone Flags will also be drilled and that he may well have been in discussions with Heyco/Egdon Resources and had confirmation that the planning is going in and that this asset will also be actioned.
