Reabold Resources Share Discussion Threads

[cashandcard] 01/3/2018 14:38

soulsauce,


It'll be an interesting question to put to the bosses.


Cash

[soulsauce] 01/3/2018 14:26

Hope you are right cash, but it still doesn't answer the question why Corallian farmed out so recently to UPL and now looking to increase. More to this than meets the eye and I just don't think that it is because UPL have showed them how to read seismic.

[cashandcard] 01/3/2018 14:18

soulsauce,


Thanks, going by Corfe's last accounts, they don't have a great deal of money. In the first instance I'd imagine it would be them farming-out.


Cash

[soulsauce] 01/3/2018 14:15

35%

UPL 40%, Corfe 35%, Corallian 25%.

Now UPL 40%, Corfe 20%, Corallian 25% and BOIL 15%.

[cashandcard] 01/3/2018 14:09

How much did Corfe begin with before the BOIL deal?


Cash

[croasdalelfc] 01/3/2018 13:35

Maybe Corfe have farmed down to 5%

[jungmana] 01/3/2018 13:17

Corfe are the party likely to sell down stake in Wick. Right now they are at 20%. Probably they concentrating on colter? Who knows

[soulsauce] 01/3/2018 12:43

Lol Simon are you suggesting those investing didn’t ask that question. Rather nieve if you do.

[soulsauce] 01/3/2018 12:42

Not being negative at all it's quite a pertinent question simon and being a holder of upl I am interested as to why a company would farm down to take back, it's unheard of. And who is going to pony up the 15% and for how much.

[simonsaid1] 01/3/2018 12:32

One must assume that when Reabold and the others that participated in the Corallian raise were asked to pony up millions of pounds, they probably asked some basic questions like 'where are you getting the increased stakes from?'.

Lol

[simonsaid1] 01/3/2018 12:31

Pointless discussing it, they've obviously figured something out. We'll know in a few days.

Some people will find any tiny possibility of a negative and zoom in on it!

[cashandcard] 01/3/2018 12:30

soulsauce,

Perhaps one that is/was cash-starved and looking to secure an opening deal in order to secure further deals and kick off near-term activity?

Its possible an increase in Wick (11/24b) license means they will be more aligned to value accretion per UPL.


Cash

[soulsauce] 01/3/2018 12:17

Well there is only upl, Corfe or boil. Corallian farmed out to Upl and Corfe so why would they give any up? Boil have just taken some from Corfe so they aren't going to give any up.

And what sort of idiot company farms down an then looks to buy it back?

[simonsaid1] 01/3/2018 12:14

We'll find out shortly. Corallian have raised funds from lots of places to do this. They obviously have a deal in the wings pending financing (now achieved) or else II's and companies like Reabold would't have opened their wallets!

[soulsauce] 01/3/2018 11:56

So how are corallian going to get another 15% of Wick?

[cashandcard] 01/3/2018 11:46

"Reabold is pleased to announce that it is supporting and participating in the fundraise and has signed two subscription agreements with Corallian Energy being made from existing cash resources"


Cash

[cf456] 01/3/2018 11:35

Stephen Williams, Co-CEO of Reabold Resources, commented:

"We are delighted that Corallian has successfully funded the drilling of the low-risk, high-impact Colter and Wick prospects at meaningfully higher equity interests than initially planned, and that the fundraise has taken place at an increased valuation relative to our initial investment in November last year."


Sachin Oza, Co-CEO of Reabold Resources, commented:

"We continue to believe that this is the ideal time to deploy capital in line with our strategy, and look forward to an exciting year with multiple transformational drilling events."

[croasdalelfc] 01/3/2018 11:34

Now at 28.x of Corallian with a view to increase to 32%

[cf456] 01/3/2018 11:34

RNS just out:

[cashandcard] 01/3/2018 11:22

FMW chosen for Wick drill.




Cash

[simonsaid1] 01/3/2018 11:02

Very news rich period coming:

1) Multiple RNS's for the deals that this new money has made available. The CEO's spent years building a 'hit list' and you can bet that they already know exactly where every pound of that raise is going. As per the Reabold business model, this will take the form of equity stakes rather than farm-in/JV agreements (so no direct drill expenses), and may well include non-listed firms (as with Corallian and the newly-created Danube Petroleum).

2) Revealing of who took the bulk of the placing shares when they vest in a few weeks, likely with some TR1s. The CEO's have always, since Reabold's inception, talked about 'quality investors' and this raise was done when they still had £1.5m in the bank (i.e. not a typical AIM desperate cash raise, but a controlled expansion), and they used a managed book rather than an open offer, so they controlled who got shares.

3) Colter drill (obviously), which may well be followed fairly shortly by cashing in of part or all of RBD's stake in Corallian, in order to go and buy something else, as-per the Reabold business model.

That's all the imminent stuff - beyond that there are all the other drilling events: The other Corallian drills (depending on Reabold's stake there by then which could increase or reduce); The 2 Parta appraisal wells with Danube; Plus whatever they are about to buy using the placing funds which will no-doubt involve multiple drills.

This is all about diversifying the business. They have more than enough cash on hand, zero debt, CEO's rapidly proving their negotiating acumen and a business model packed with news catalysts. AIM investors know the danger of drifting on lack of news, and the danger of a share price being built on a single drill - none of that here.

I've some qualms with the company over the placing leaks (they assured me this week via email that they have new systems in place against this, hope that works), but other than that I'm very intrigued by the business model so far.

[jungmana] 01/3/2018 10:31

Looks like folks waiting till new shares hit the market before buying. In the meantime we could get news on Colter rig mobilisation this month at anytime.

[tel11] 01/3/2018 08:33

gone quite here ;-(

[croasdalelfc] 01/3/2018 08:06

Another hugely discounted placing this morning at NUOG alongside CHaR , and MATD . It shows the CEO,s have great connections in the city to get placing away at 0.6p , and a large one at that.Plus they have an asset or two in mind short term, I suspect with drill ready prospects, appraisal wells or similar

[euclid5] 01/3/2018 07:43

sorry, yes it's 3p on Wick