Reabold Resources Share Discussion Threads

[jungmana] 02/3/2018 10:52

ileeman, as i said yesterday i too think is corfe. but wont be surprised to see upl reduce their stake as almost 75% of their £3m cash right now will go into wick.
expenses on the well above £4.2m will also be shared based on percentage interests in the well.

[ileeman] 02/3/2018 10:47

Jung it has to be Corfe because they already have the 40%, UPL has not RNSed so it cant be them.

[ileeman] 02/3/2018 10:46

Yea cash sea horse charity has put their foot down xD

Good thing its offshore and with the o&g authority.

[jungmana] 02/3/2018 10:45

upl have to pay 53.3% of the £4.2m of the costs of the environmental survey and cost of wick well. thats about £2.3m and right now they have about £3m. so another placing will be coming there soon or reduce stake to raise more money imo.

[cashandcard] 02/3/2018 10:44

Regardless of Wick, we have Colter as our first play here.

I see the Nimbies down in Dorset are mouthing off and trying to get more support to block Colter.




Cash

[ileeman] 02/3/2018 10:44

If no RNS UPL then its Corfe so yea on second thoughts probably Corfe.

[ileeman] 02/3/2018 10:43

Looks like its already done Soulsauce, read RNS.

(net to Corallian at a 50% equity interest) of £128M based on 15M barrels of oil and a $55/bbl oil price. Corallian management estimates a 58% chance of success.

The Wick project targets an NPV (net to Corallian at a 40% equity interest)

[cashandcard] 02/3/2018 10:42

I think it will be Corfe they take it back from, their last set of accounts look meagre to say the least, don't think Corfe can afford their share of costs.


Cash

[soulsauce] 02/3/2018 10:41

IF Corallian get back to 40%.

[ileeman] 02/3/2018 10:40

RBD are in the strongest position financially as they just raised and without doing any discount, although alot of that cash will go to a new asset.

Its either UPL or Corfe.

Logically looking at UPL cash it would not be out of this world to see them hand back 15%, seeing as 75% of their cash will be gone after paying the costs but it could quite easily come from Corfe.

Sort of irrelevant talking about where tho as it is already done. If UPL dont RNS then you know its Corfe.

[jungmana] 02/3/2018 10:35

soul - in effect rbd is getting more of wick as we own 32.9% of corallian

[soulsauce] 02/3/2018 10:33

But RBD aren't aiming to get 15% back, Corallian are and they are going to pay for it having farmed down, ludicrous.

[jungmana] 02/3/2018 10:29

upl rght now have about £3m in cash. rbd has about £9.5m in cash. i hold both stocks but more of my money here.

[soulsauce] 02/3/2018 10:29

Divmad exactly.

[divmad] 02/3/2018 10:27

What bull. Upl are in the strongest position financially of this motley group of companies. They don't need to give anything up.

[soulsauce] 02/3/2018 10:27

LOL. Corfe more likely.

At what price would UPL give up 15%, bearing in mind it was them who have shown how good Wick may be? UPL have plenty of cash to see Wick through.

[jungmana] 02/3/2018 10:25

below is from the UPL wick farm in rns. has all the info you need;


"Upland UK is likely to hold the largest interest in the P2235 Licence and be the only co-venturer that is part of a listed entity. The Company will pay 53.33% of the first GBP4.2 million of costs related to the environmental survey and the first Wick well; costs above that cap will be funded pro rata to interests in the Licence. The Wick well is currently estimated to have a total dry-hole cost of about GBP4.2 million."

[ileeman] 02/3/2018 10:23

UPL looks the most likely choice, they dont have a huge cash pile and it would not be inconceivable for them to hand back 15%.

[soulsauce] 02/3/2018 10:20

No they couldn't.

[phoebusav] 02/3/2018 10:15

They could take an equity stake in UPL, Corfe or BOIL to give them an effective increase in exposure.

[ileeman] 02/3/2018 10:10

I agree it will be interesting to see where they get the extra 15% Wick from, but I am more interested in Colter.

Without going into where tho, lets assume they have found a way and for £1million assuming they take up all tranches (also assume they done it in tranches to safe guard themselvss from any hiccups) I would say that is a very good deal.

[soulsauce] 02/3/2018 10:06

iLeeman UPL haven't paid anything yet but will pick up 53% of the dry hole costs, as it stands.

I say as it stands because I believe there is more to this than meets the eye and as yet we still don't know how Corallian are going to get back to 40%.

[ileeman] 02/3/2018 10:01

Dan you are funny lol

[ileeman] 02/3/2018 10:00

@Soulsauce

They paid another £1million to basically retain their stake in cora but they also got an increase in Colter and Wick + Oulton etc

Didnt UPL pay alot more just for Wick....

So way I see it they got a bargain getting more of all the licences but corallian had to sweeten the deal so that RBD were not paying more just to retain their stake in cora.

Win win.

[dandadandan] 01/3/2018 20:49

Looking back over the last few months you can now see why someone was dumping at around 0.60p. Being pre warned by a potential placing possibly? It may be interesting to see if the FCA have been keeping an eye on those trades.

Those IIs have some extra advantages and now probably have inside knowledge on the next RBD moves by O & W.
It appears not to be a level AIM playing field, and they should to keep to the Regulators rules. Tweet , tweet , leaky.....

So where is that next 5 star deal coming from?
Put it out before someone starts checking and complaining, IMO.

Then 'walk the talk'...

GLA.