Reabold Resources Share Discussion Threads

[theaviator] 15/12/2018 09:58

This is generally an excellent bb with some great research and info from a few. I really dont want to mention another share on here but you can look to see the other am in. (Nowhere near as big a stake as here but...) Been building for the past 3-4 weeks. All about the Permian. Do check it out. Planning to hold for next 6 months. 2.28 was the bottom on chart which bounced to decimal and I believe on start of next impluse move and good news flow ahead. Mc is currently circa 3ml which quite ridiculous.Regarding RBD. Was a shame about the Cali delay but all will be good this coming year imo Just a patience game. Five ii's involved says something to me. GL

[steelwatch] 14/12/2018 19:30

Pushed back again

111826
Able Seaton Port Basin Berths 2-9
ENSCO 72
8750338
(ETD) 17/12/2018 07:00:00

[gunsofmarscapone] 14/12/2018 14:23

Ok iLeeman, aviator, thanks. Will fish out some of those earlier presentations.

iLeeman, I welcome critique and dont mind at all if someone points out my foolishness (politely ha ha). Have a look at Boil if you like and double check my arithmetic.

atb guys and good weekend all.

[ileeman] 14/12/2018 09:05

@Gun

Reabold invested in Corallian soley for the purpose of Colter you can see this in the earlier presentations so in that sense Wick is just a nice bonus but worth reminding it is our lowest chance of success drill in our portfolio.

I dont want to clog the board with other companies but thoughts on BOIL are it is a nice trade pre Wick/Colter and nothing more, they will need to raise asap do they wait for a 40% CoS drill to land or are they smarter than that...keep that in mind.

[theaviator] 14/12/2018 01:32

Boil was okay until Mrs Parma (apologies if have the name wrong) started selling out. They could be worth a shot pre drill as you say on hype if nothing else. Will have to look the chart tomorrow as last time I remember UPL had some downside. If they would only sort their Malaysian asset out it would certainly be a different ball game. Yep there is nice exposure here to a few biggies and happy enough to wait.

[gunsofmarscapone] 13/12/2018 19:33

iLeeman, apologies for this but a couple of points. Wick cannot really be construed as a ‘free carry’, we (I hold RBD, ave .71) have essentially a share in Corallian, funded via equity raise here, Corallian have expense commitments for Wick therefore the net value of the company will be depleted during the well. So not really free.

Baron Oil (BOIL) have (my wobbly arithmetic) £3.25 mil cash, mcap when I bought in of £5.71mil, a very simple metric but 1.75 mcap/cash ratio. Create subsets of risked valuations for Wick and Colter then estimate cash remaining at the end of the programme. So therefore it is easy to see if the share is trading +- or = to fair value at any time during the next several months and then relate that to your own risk ‘appetite̵7;.

So BOIL have a commitment of £900k at the expected max cost of Wick, the company state that BOIL has £831K left to pay so some costs have already been transferred.

As we know it is reasonable to pay a premium for late entry, working up the prospects, the array of petrophysics which I do not understand has been completed over the years by others. That said it was the CEO of Baron who developed Colter as a prospect. Here is Baron’s statement re costs.

“Colter Well and other P1918 area activities: £707,000 remaining” Yes I agree with that. Their 8% will cost 10.67%.

BOIL therefore should have around £1.7 mil left at the end of the two wells, I would submit that that is a very reasonable sum for a virtual company, in any event if both wells fail all bets are off and they will be a really tiny little weaner unfortunately!

If nobody objects, that is anyone who is not an objectionable nobody are we happy to post on any board which has an interest in the forthcoming operations of the jack-up?

[ileeman] 13/12/2018 16:05

My thinking is UPL is a good trade pre drill results just because it is worth so much to them on success that being said I would not want to hold UPL or BOIL on drill results as they do not have much to full back on especially as Wick is only 40% CoS...RBD is the only company where you can sit easy holding into results as they will just go straight into the next drill success or failure.

I notice BOIL is getting the ramp treatment on twitter but I would not touch it, apart from the fact directors just issued a shed load of options at market price, they do not have much cash left.

[theaviator] 13/12/2018 15:59

Yep Wick was a freebie and a plug abandon. This is why rbd the best share for exposure to others compared to likes of UPL or BOIL. Colter and Parta the biggies for moi.

[ileeman] 13/12/2018 15:38

Great news Wick.

We got Wick for free unlike other companies that had to pay overthetop for the privilege.

Wick a nice bonus for us if it comes off but my money is on Colter/Monroe/Rathlin/Parta. All being done by Q1.

Nothing goes up in a straight line a few delays here and there which is part of investing, once we these drills get banged out it is not hard to see what will happen...as they say money transfers from the impatient to the patient.

[theaviator] 13/12/2018 15:29

2019 going to be a cracker. Mark my words.

[grannyboy] 13/12/2018 13:19

Have they upped anchor yet then?...Get that rig on the move!!!..;))

[steelwatch] 13/12/2018 13:00

Just a case now of waiting for suitable climatic conditions for the c.180 mile mobilisation.

[gunsofmarscapone] 13/12/2018 11:44

Of course it is Bang bang, there never was any doubt: just procedural compliance. Atb GoM.

[bangbang1] 13/12/2018 11:14

WICK DRILL APPROVED

AT LAST!

[luckyman3] 13/12/2018 06:23

New schedule

14/12/2018 12:00:00 Estimate ENSCO 72 8750338 D5ER5 Berth to Sail Able Seaton Port Basin Berths 2-9 Offshore Location Able UK Limited Tugs Req 4

[alamaison5] 12/12/2018 16:20

11,000,000 sold v 3,000,000 bought. Flirting with the first placing.
Order place at .5p
xxx

[soultrading] 12/12/2018 15:52

Also Badger99 on LSE found a podcast -----Sachin on the podcast. Interview starts at 16:40
hxxps://audioboom.com/posts/7115086-tekcapital-tek-reabold-resources-rbd-and-mining-analyst-john-meyer

[soultrading] 12/12/2018 14:14

dated yesterday

[trulyscrumptious] 12/12/2018 14:02

When was that written?

'...with results pre year end. Colter will be drilled straight after.'

[soultrading] 12/12/2018 12:52

Whilst California drilling has seen a small delay of c2 weeks, Wick is due to spud imminently, and Reabold has managed to secure significant optionality around Danube funding. We remain with our BUY recommendation and increase our RENAV from 3.5p to 3.8p.

As part of the overall funding of the Curlew well, which Corallian plans to drill in H219, Corallian has raised £912.3k by way of an advanced subscription agreement. Reabold is participating with an investment of £300k, maintaining its 32.9% interest. Corallian has a 90% interest in Curlew. We had included 0.2p in our RENAV for Curlew, assuming Corallian had farmed down to a 30% WI to get carried on the well. Now that the key permits have been approved, we expect Wick to spud imminently, with results pre year end. Colter will be drilled straight after.

Heavy rain has impacted operations in California, rendering access to the Monroe Swell site difficult. As such, it makes sense for the rig to go to the W.Brentwood site first before returning to Monroe Swell immediately afterwards. The operator doesn’t expect any access issues in W.Brentwood. In the event of success at Monroe Swell, Reabold will consider high grading the access route (c$300k), which should be easily funded from cash flow.

Given progress in securing long lead items and permitting for two wells, Danube is on track to spud one firm well in Romania in Q119. Discussions with ADX regarding ADX’s commitment to invest £375.9k either directly or via a third party, at £1/share, are ongoing. The deadline has been extended to 15 March 2019. In the event ADX do not complete the ADX investment by then, ADX agrees to grant Reabold the right to subscribe to the shares at an issue price of £0.80/share (vs £1/share investments done to date in Danube). Reabold also has the option to subscribe for a further 375.94 Danube shares at £1/share prior to March. Reabold and ADX have also discussed funding for a second well, which would take place at an issue price of £1.2/share, if done within six weeks of receipt of well logging date from the first Parta well, or £1/share any time prior to spudding the first well. If the second well is subscribed for, Reabold would hold at 45% interest in Danube. The set up means that in the event of a successful first Parta well, Reabold has locked in a very attractive price for funding the second well at only a 20% premium to investments done to date.

We adjust our NAV to reflect a higher WI in Curlew given Corallian’s fund raise (Corallian 40%) and we also assume Reabold participates in a second well in Romania at a higher equity stake (45%) than we had previously assumed (25%). Adjusting for cash outflow (£300k for Corallian, £2.3m for Danube option and second well), our RENAV increases from 3.5p to 3.8p.

[trulyscrumptious] 12/12/2018 11:26

From Malcy

Reabold Resources
Reabold put out an announcement as well yesterday but seemed to go under the wires, so to speak. A corporate update just confirmed that Corallian was starting its two well programme this month at Wick and then Colter. The company is also raising money for its Curlew A well in 2H 19 and RBD is taking its corner. With Danube drilling Parta in Q1 next year it will be a busy time for RBD but in California rain has stopped play at the Monroe Swell so West Brentwood goes first. Over at Rathlin the West Newton A drilling is slated for Q1 2019 giving another reason for shareholders to be on the edge of their seats after Christmas.

[steelwatch] 12/12/2018 04:51

Moved back again:

111826
Able Seaton Port Basin Berths 2-9
ENSCO 72
8750338
14/12/2018 12:00:00 (ETD)
Able UK Limited
Lay-By

[uggy100] 11/12/2018 18:31

Forget about alamaison, he's a freak, just dyor.

[homebrewruss] 11/12/2018 15:21

alamaison that's a delayed trade from first thing this morning right?
Was that you?