Reabold Resources Share Discussion Threads

[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.

[croasdalelfc] 05/3/2018 16:24

Clara Petroleum hold the ex-4 Tulca license in Romania - the one highlighted in the RBD pdf

[croasdalelfc] 05/3/2018 16:07

ADx state : ADx on behalf of Danube is in discussion with a number of parties expressing interest in further investments in Danube to fund the second well in the Parta appraisal program Check ADx website for farm out potential in Parta - there is a Dec update

[croasdalelfc] 05/3/2018 16:04

Don't forget they have an option to increase investment in Danube Petroleum to approx 38.5% from current 29%And there is nothing to stop them doing a deal to spin out an asset similar to Danube from a UK or Can or Au listed company ADx is Aussie

[simonsaid1] 05/3/2018 15:24

Well this is how the CEO's will prove their mettle to the market! The first 2 deals (Corallian and Danube) were cracking. If the next tranche are of the same quality, then I think it'll be time to start trusting them and the market may begin to price that in!

[cashandcard] 05/3/2018 15:05

Spangle, Simon,


My only issue is the description 'minority investment'. If its producing and has upside - if fits smackbang right into RBD's investment model. By all means, I would like them to go for it, buy a reasonably sized minority stake, but not too small, where it has no significant value in the portfolio and in the longrun.


Cash

[simonsaid1] 05/3/2018 14:54

Great discussion!

As Spangle says, they're keen on private (non-listed) firms. As such this could well be a field for which production data is not publicly available. No reason a private firm has to list their production numbers that I'm aware of?

[spangle93] 05/3/2018 14:28

Cash - Good suggestion but as far as I can find, none of the fields from those two companies is individually producing at near 130 bopd (note barrels not BOE, thus it rules out gas field or total hydrocarbon equivalence)

I also think they'd go for a private company, like Corallian. If so, that would really narrow the scope

[cashandcard] 05/3/2018 14:05

Spangle,


What about Edgon/Europa in East Midlands?



Cash

[spangle93] 05/3/2018 13:57

Just to start a conversation..

Ref "Field A" on page 14 of that presentation, it refers to a field that's producing 130 b/d with reserves of 1.4 MMbbl. You'd think that would be traceable. Best I can do is Horndean or Palmers Wood - former has the rate but not the volume, and the latter is pretty opaque on the internet. [

Up in the East Midlands, Scampton North and Beckingham are around 100 b/d

But all of these 4 are operated by Igas, who I don't suppose is likely to value external investment

[croasdalelfc] 05/3/2018 11:05

Loads of delayed buys showing

[ileeman] 05/3/2018 09:38

Check the details of the raise sammy, institutional raise not retail.

Also thought that 1000bodp + exploration upside was very good and the prospect in germany looks huge.