Reabold Resources Investors - RBD

Reabold Resources Investors - RBD

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Stock Name Stock Symbol Market Stock Type
Reabold Resources Plc RBD London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-0.015 -6.52% 0.215 15:58:57
Open Price Low Price High Price Close Price Previous Close
0.23 0.205 0.23 0.215 0.23
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fireplace22: investor relations.
32campomar: I would think its falling because of the chaos at UJO. Uniformed investors perhaps thinking the UJO fall is somehow down to West Newton.
32campomar: This is now at the low of the stock market crash in March 2020. Regardless of whether Investors are disappointed, a market cap of £24 million is on any measure far too low and as we saw in March 2020 it will prove a bargain buy price.
simon_64: People who read the RNS'S already know it is not a duster and there has been oil and gas to the surface. I just can't be bothered discussing it any more TA with host of avatars and nervous nellies and uninformed investors.
jusmasel99: The concept that BMD is the only person with a 'reliable' source that has told him it is a duster takes some believing. If he has 'reliable' information that could only have come from the contractors on site and they will no doubt never work in the industry again. There must be quite a few investors who have just had their stop losses triggered.
uggy100: Why is my post rubbish trev, these guys have pretty much failed on every metric before the uncertainty over WN. They regard themselves above such mundane things as keeping their investors up to speed on ANY projects, they are aloof idiots who mey well be batting above their weight. Comms are appalling they have regarded themselves as being unaccountable & sequester themselves in their own world. Kind of fiddling while Rome burns
bipos: Would the move of the equipment to the next site be a positive sign if they do not make an announcement regarding the flow test,I see the share price is dropping but not on the volume that show in the know is making for the exit. I blame the management it put doubts for ordinary small investors(like myself) to make irrational decision.
thetoonarmy2: Even Malcy totally underwhelmed today Reabold ResourcesReabold has announced that they are selling £500,000 of convertible loan notes in Corallian to a group of strategic investors whilst retaining £500,000. I can't honestly see this making much difference but management comments are below!Stephen Williams, Co-CEO of Reabold, commented:"We're pleased to be selling £500,000 of our convertible loan notes in Corallian to a group of strategic investors. Their support for an IPO, RTO or other listing alternative for Corallian is consistent with our monetisation goal once Corallian has created further value. We're also delighted to have the opportunity to work alongside these strategic investors to progress other projects within our wider portfolio.
currypasty: An investment company buys it for 500k, sells it for 500k... hello! "The strategic investors have indicated their support of an initial public offering ("IPO"), reverse takeover ("RTO") or similar for Corallian, which is in line with Reabold's strategy of clearly identifying monetisation opportunities across its portfolio. The strategic investors have also signalled their intention to support Reabold in facilitating further potential strategic value creation opportunities across the wider Reabold portfolio." First part, great, get it listed, realise some value for RBD! Second part.. do strategic investors get cheap RBD shares before first part, to ensure THEY get decent value creation.. what about the poor sods in at the 0.9p placing guys??????
sabaka owner: YOU MUST HAVE READ? Union Jack Oil/Reabold Resources UJO has published a technical presentation in respect of the recently drilled West Newton B-1 and B-1Z wells on PEDL 183. The West Newton technical presentation contains new significant technical data that is material to the ongoing commercial evaluation of the project. The presentation identifies or contains the following new information, locations for the West Newton A-1, A-2, B-1, B-1Z and a proposed B-2 well, which has planning permission in place and is provisionally planned to be drilled in H2 2021, and a demonstration of where the B-1Z well represented a considerable 2.5 kilometre step-out to the south of the A-2 well. Good seismic calibration across the West Newton project area, highlighting both the Kirkham Abbey “platform̶1; and “slope” formations which demonstrated hydrocarbon column of at least 118 metres with no hydrocarbon-water contact including a thick porous section identified in both A-2 and B-1Z wells suggesting a contiguous structure across the Kirkham Abbey formation. The B-1Z well de-risks the southern component of the West Newton licence area and crucially supports the accuracy of the seismic interpretation across the entire platform and the log results at B-1Z well were excellent, exceeding Union Jack`s pre-drill expectations. Good porosity is clear throughout the interval and the Kirkham Abbey interval hydrocarbon is saturated, mudgas concentrations where observed while drilling through the Kirkham Abbey formation at B-1Z well were as high as 9.8% total gas and 18 metres of core was cut and recovered from the B-1Z well. If all these points were not in themselves bullish enough, visible natural fracturing, micro fracturing and vuggy porosity demonstrated from core-lab inspection and analysis prove that if anything testing probably isn’t even required which I will come back to. Something else I will add later is UJO’s comments that ‘numerous additional leads and prospects, including Ellerby and Spring Hill, have been identified across PEDL183′. David Bramhill, Executive Chairman of Union Jack commented: “Following the drilling of the successful B-1Z appraisal well, the technical summary of the West Newton project, provided on the Union Jack website, is the result of extensive evaluation by technical teams at Rathlin Energy, Reabold Resources and Union Jack, all whom have contributed additional materiality to our technical understanding of West Newton. “There remains considerable upside in the opinion of Union Jack`s management especially with the Ellerby and Spring Hill Prospects being on-trend with West Newton. “We look forward to reporting further progress on this compelling onshore conventional project in due course.” I’m trying to bring together data and information that has been published by both companies and presentations are available on both sites which I strongly advise perusal of. From Reabold obviously the data is the same but they point out that West Newton B-1 originally targeted the Kirkham Abbey slope (vs A-2 which made a discovery on the platform) and demonstrated hydrocarbon column of at least 118 metres, with no water contact. The subsequent B-1Z targeted the Kirkham Abbey on the platform, similar to A-2 but with a considerable step out to the South and thick, porous reservoir section identified in both the A-2 and B-1Z wells, suggest a contiguous structure. The B1-Z discovery both de-risks the southern part of the West Newton field and crucially supports the accuracy of the seismic anomaly across the entire platform. So we know from the data that this is as solid a discovery as one could find and I suspect that even those bears of the Zechstein can’t get away from the fact that West Newton is already very substantial and this year is going to prove it. Now to come back to my earlier point about testing which the market is in a tizzy about, mainly as many investors worry that it has been delayed and still isnt publicly announced. Now if you go to the Reabold website and look at the presentation which is obviously almost identical to the UJO one, as you would expect, they actually spell out the timetable for the testing process and reasons for any further delay. From this one can detect that delays have been and remain as a consequence of Covid, ie that these operations require skilled international technical personnel but should be ready to start soon. So operations are ‘planned to commence in February 2021 but subject to ongoing uncertainty around Covid based operational restrictions’ and will continue until half way through 2Q 2021. There is one more point that should be made before I look at the Reabold raise and that is that the discussions with regard to the testing of West Newton at all. By this I mean that of all the people I have spoken to with regard to this almost all have said that to be frank this testing isnt necessary and that going straight to the next phase would be sufficient for all concerned. Now obviously that ain’t going to happen as the market wants a flow rate so a flow that is what they will get but I’m with them, the B-2 well with its horizontal into the Kirkham Abbey will do its job and as has been said reach the A wells 2.5km away. On to the Reabold raise now, they have brought in via placing and subscription £7.5m at 0.55p a 2.8% premium to the market place which is most impressive but maybe the recent 27% fall in the share price since 18th December tells you more. The company, who are always astute at raising money for key projects clearly want to be well financed for work at West Newton and this certainly ticked the boxes. The raise went very well as the Reabold fan club of institutional investors left it significantly oversubscribed with scaling back and now the company is set fair to fund the rest of the WN project in testing, drilling and in seismic as well as the costs of the Victory gas development via Corallian and sundry contingencies. Enough is enough and investors should make their own calls but Reabold has today risen in relief at the raise but UJO has actually fallen. Now either investors still do not believe in West Newton or they don’t believe that UJO are fully financed, which they are. Go and read the presentation and take a look at the logs, this is a top quality onshore hydrocarbon discovery that doesn’t need a testing programme to prove it, so if the market is disappointed that testing is delayed then they are barking up the wrong tree. How often can you buy a ten pound note for a fiver?
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