Reabold Resources Share Discussion Threads

[1kiwi] 06/2/2018 00:42

Post C/O Riddlers on lse

Email from RBD Camarco concerning rumours

"Thanks for getting in touch. By way of introduction we work with Reabold on their PR and IR requirements.

In answer to your questions, Reabold is not liable to further drilling and operational costs. It is an investor in upstream oil and gas companies, not a joint venture partner and as such, does not need to add further funds once an AFE is submitted.

To that end, Reabold's investment in Corallian Energy has progressed the well costs to the point of it being drilled. Therefore the Colter well has been entirely funded and is on schedule for it's original drilling of H1 2018 - there has been no change in this.

The company has no commen in regards to the media speculation that it requires further funds to drill Colter because quite simply - it does not. "

[croasdalelfc] 02/2/2018 08:02

The Upland resources farm in at Wick is confirmed as environmental survey completed

[croasdalelfc] 01/2/2018 13:59

The £1m is only paid when expenditure is approved for the drill and it has to be prior to 30th April.

[croasdalelfc] 01/2/2018 13:49

Edit last line £2.1m

[croasdalelfc] 01/2/2018 13:45

The colter well costs £7m and UOG are paying £0.9m with the option to buy in for another £0.9m. RBD have paid £1.0m for drill costs . So that leaves £4.2m to find between Corallian and Corfe . If Corallian don't have the dish they will farm out , same with Corfe , no placing for RBD , though they might be diluted by farm out. Or pay for a larger chunk of Corallian?The Wick prospect is a free play with UPland Resources stumping Up the 53.3% of £4.2m so Corallian need to find £4.1m or farm out

[caters] 31/1/2018 22:02

Wick is likely to be drilled in August 2018 per Steve Staley of Upland Resources.

Corallian is getting busy with Colter and Wick and RBD will enjoy the benefits.

[jayj4u] 31/1/2018 20:44

Guys if you hold this stock then please listen to this youtube Reabold Resources Presentation - 04th December 2017

[simonsaid1] 31/1/2018 16:27

Dan says the placing will be needed to pay for costs at Colter. Apparently he didn't read the deal itself, which was very clear (1st Nov RNS).

£500k upfront and £1m for drilling costs in exchange for 35.4% of company and seat on the BoD. That's the £1.5m we already knew about! No further cost. That was why everyone praised the deal at the time.

Meanwhile there's £3m left in the kitty, and the next asset likely to be £1-1.5m. Plenty left to 'keep the lights on' and no drilling obligation for Colter (everything else is a long way down the line).

[paleje] 31/1/2018 16:03

BMD gets a few right, unsavory character perhaps but so are half the city. He got SDX bang on last year with a heavily discounted placing which no-one (incl me) believed, a few others too, worth caution imo.

Malcy for sure won't reveal such things, he stays well away from controversy.

[cashandcard] 31/1/2018 15:42

I would suggest even if a fundraiser is underway, it'll likely be to fund a new asset, not to 'keep the lights on'. I welcome this.


Cash

[jayj4u] 31/1/2018 13:21

TIME TO BUY SOME MORE HERE!!!

[daniel levi bmd] 31/1/2018 11:56

FYI

Reabold Resources. Placing Ahoy!

Dan
x

[caters] 28/1/2018 23:34

Clearly someone is offloading.

But there's plenty of buying.

When the offloading finishes (and it will) this will rise nicely.

There will also be more buying as we get nearer to spud at Colter.

Any news on Wick will make this move nicely too.

(RBD is a good proxy for privately held Corallian.)

[soultrading] 28/1/2018 11:57

Very tempted to buy some more and bring my average down before this recovers.

[turbotrader2] 27/1/2018 16:58

When do we expect an update?

[ileeman] 26/1/2018 14:50

Taken more at 0.7p over recent days.

Drill window closing in.

You will not find a better drill than Colter in terms of CoS and NPV vs market cap.

[bigdazzler] 25/1/2018 16:19

Well I bought in this morning. Let’s see how it goes.

[simonsaid1] 25/1/2018 14:51

Enormous volume here today, more than 2x daily average. Lots of new sticky hands.

[1kiwi] 22/1/2018 16:55

2Prismo rotfl! Can you actually read a chart? ;)

[isaseeya] 22/1/2018 07:31

Time to move up.