Reabold Resources Share Discussion Threads

[ileeman] 06/3/2018 10:20

Yea you are right it is assumption but a very obvious assumption.

As I said RBD have 50% Colter and Wick 40% I am not too bothered about where it is coming from aslong as they have it.

[soulsauce] 06/3/2018 09:59

Nit picking, really? Read the RNSs there is a distinct difference and you obviously don't know. You are just making an assumption as you did regarding Corallian being back at 40% in Wick but have no proof.

[ileeman] 06/3/2018 09:54

Soulsauce I think you are nit picking.

[cashandcard] 06/3/2018 09:45

Jungmana,


Yes, I see to be getting mixed up with these UK minnows.

Edited.


Cash

[jungmana] 06/3/2018 09:36

Cash , you mean UOG not UJO . They are two different companies

[soulsauce] 06/3/2018 09:34

So then iLeeman why does the Boil Wick news specifically mention Corfe and todays Colter news they just mention Corallian?

[cashandcard] 06/3/2018 09:27

Malcolm Butler at BOIL has been involved with Ermine Resources, who previously involved trying to take a stake in Colter from Corfe.


Cash

[cashandcard] 06/3/2018 09:26

As of RBD's entry into Colter, we know P1918 was held between a joint venture of Corallian 60%, Corfe 40%. Since then, we had UOG farmin;



"On 19th January United has entered into a farmout agreement with Corallian Energy Limited to acquire an initial 10% interest from Corallian in each of three licences held by a joint venture between Corallian (60%) as operator and Corfe Energy Limited (40%) offshore and onshore southern UK, by way of paying 13.33% of the costs associated with the Colter well, planned for Q2 2018.

In addition, an option has been granted, which expires at the end of March, under which United can exercise a right to purchase an additional 10% interest in these licences, on the same terms as the Initial Farmed Interest.

The P1918 licence, includes the Colter discovery, adjacent to the largest onshore oil field in Europe, Wytch Farm, which has produced in excess of 450 million barrels of oil. This well is currently scheduled to spud in in Q2 2018.

Additionally, United and Corallian have established an Area of Mutual Interest for the area, enabling the partnership to identify and target further opportunities within the same play"


I find the last para interesting.



Cash

[ileeman] 06/3/2018 09:04

The most obvious answer is ussually the right answer.

Corra holds 50% colter and 40% Wick + all the other licenses, to be honest I am not too bothered on where it is coming from but Corfe seems like the most obvious seeing as UPL did not RNS on the Wick after Corra increased stake.

[ileeman] 06/3/2018 08:36

Fairly obvious it is coming from Corfe.

[jungmana] 06/3/2018 08:01

from boil rns; "I was deeply involved in the interpretation and identification of the Colter Prospect and I am very pleased that Baron will be able to participate in the drilling of it, albeit with a small interest. The Prospect lies very close to Wytch Farm oilfield and, subject to agreement with the field partners, any discovery would likely make use of these existing facilities, enabling development to take place very quickly.

[soulsauce] 06/3/2018 07:57

Jung check the wording of the two boil RNS for the awarding of Colter and wick. Distinctly different and clear the wick holding was part of Corfe as it is that the 5% of Colter has come from Corallian.

[jungmana] 06/3/2018 07:50

Corfe are the other big partner in Colter and i think all will be made clearer soon regarding Corrallians farm outs.

[soulsauce] 06/3/2018 07:47

When Boil farmed in to Wick they mentioned Corfe however the farm in to Colter they haven't?

[jungmana] 06/3/2018 07:40

Corfe again is my guess. I think in both wick and colter corfe will be reducing their stakes. Their finances are not that strong.

[soulsauce] 06/3/2018 07:30

Same with Wick it doesn't make sense. Some explanation required here as to how Corallian are going to satisfy what it says in the RNS of 1st March.

[croasdalelfc] 06/3/2018 07:25

Yep it's a bit baffling

[soulsauce] 06/3/2018 07:24

So Corallian have farmed 5% of Colter to Boil. So how are they hoping to raise up to 50% as mentioned in the recent RNS.

Nothing makes sense with Corallian?

[spangle93] 05/3/2018 18:42

Simon - I'm sorry to have fallen short of your standards ;-) although while my post is dissed, it appears you agreed with what I said?

Anyway, I think we can both see what the company is trying to do. It's a different approach, more akin to private equity than listed companies, for investors to get engagement in the sector. The risks of oil access and exploitation are still there, the risk profile changes with additional corporate complexity. And we both hope it is ultimately successful. :-)

[croasdalelfc] 05/3/2018 17:00

tulipoil.com/category/news/page/2/March 2016 Schwarzbach 1 light oil discovery near Riedstadt Upper Rhône Valley

[simonsaid1] 05/3/2018 16:51

I mean basically all that text amounts to is 'I'm not convinced they pull off their plans'. If it was a dead-cert the share price would be many pence! We get to buy it all the way down here because we are betting on the experience and connections of the CEO's to find and make good deals. Their ability to get around the right tables and gain access to distressed assets is what I invested in.

Your third paragraph just seems to be saying 'the equity stakes will be worth more if they get oil strikes'. Well... yes! ??

As for exit mode, you need to see the presentation from the other day to understand the rationale. As to 'how do you shift 34.5% of a company's stock' - well how do you think they bought it in the first place! The outcome of the drills make the stake worth more or less, and the buyer could be the original company buying back or any other suitor.

Really find that a very strange post, sorry!

[croasdalelfc] 05/3/2018 16:50

It might be worth checking Tulip oil as well - they own 90% of Rhein petroleum with a lot of assets in Rheinland Germany

[spangle93] 05/3/2018 16:43

Simon, ref #607
I'm using the government website where reporting, private or public, is mandatory. But you'd get better quality of background information from listed companies, certainly

ref #609 - I'm not sure the value hasn't really increased yet? RBD has raised some money and invested it in shares of comapnies. Haven't they just paid a market value for equity in the company with certain appraisal assets. So I have a little concern about the statement "proven execution".

If the appraisal wells are successful, then those companies value rises, and by association, so does RBD. If they aren't, then the private company must write down its assets, and the investment has a lower intrinsic value.

I'm also not really sure of the exit mode. They say they'll get in and out of Companies as they see fit, but how do you actually shift 34.5% of a company's stock?

Maybe it's folks like me that are indicative of the market's view ;-)

[simonsaid1] 05/3/2018 16:41

Clara Petroleum is interesting. One of the BoD is Richard Thomas Liddell who has directorships at Sound and Spinnaker, ex-Premier Oil



This is the kind of person the RBD CEO's get around tables with.