Reabold Resources Share Discussion Threads

[astralvision] 11/11/2019 09:42

The abbotI suspect restraint at UJO is down to UJO will have to raise funds sooner or later to fund their share of WN drilling.

[5chipper] 11/11/2019 09:39

Mcaps of rbd & ujo will be tied together, i.e if one were to rise and the other not shareholders would sell higher priced one in order to buy the other and vice versa.

So if rbd share price is suffering from placing overhang ujo share price will be acting in the same way.

Imo

[theaviator] 11/11/2019 09:35

Understood. Yep it's huge tbh. No doubt majors are sniffing.

[nicosevos] 11/11/2019 09:35

No, there's still the surplus placing to shift.
Edit, that's the iceberg bit.

[sportbilly1976] 11/11/2019 09:34

Re UJO from share price Angel:

Is anyone able to do the maths and work out what the read across valuation for RBD would be on the same parameters?



SP Angel - Oil & Gas Research

Non-Independent Research; Marketing & Sales Commentary - MiFID II exempt information – see disclaimer below



Union Jack Oil*

(LON:UJO)

STRONG BUY: TP 0.84p

Significant upgrade at West Newton

Union Jack Oil (“Union Jack” or the “Company”;) has today released updated volumetrics compiled by the Operator Rathlin Energy (UK) Limited at its flagship, conventional West Newton project, indicating a significant upgrade to the 2017 figures contained within the current Competent Persons Report. The headline numbers estimate an in-place Base Case of 146.4MMbbls of oil and 211.5Bcf of gas; and an in-place Upside Case of 283MMbbls of oil and 265.9Bcf of gas. The estimated resource volumes therefore firmly categorise West Newton as having significant ‘company maker’ potential in our view, inferring that the field is one of the UK’s largest ever onshore discoveries. We have taken the opportunity to update our financial model and upgrade our TP from 0.66p to 0.84p, maintaining our STRONG BUY recommendation.

West Newton could become of the largest UK onshore conventional discoveries

The upgraded volumetrics primarily resulted from subsequent evaluation of the drilling results from the recent West Newton A-2 appraisal well, and revised petrophysical, fluid saturation, sedimentological, and diagenetic analysis. The significant revision from the 2017 CPR (which estimated 183Bcf of gas) is the inclusion of a large liquids component, notably 146.4MMbo (Base Case) and 283MMbo (Upside Case). We have prudently used a 24% recoverability factor in our updated valuation through the analysis of similar analogous fields, however we note that this could be materially higher once the reservoir properties are further confirmed through the upcoming drilling of the B-1 and B-2 appraisal wells in 2020.

What next can we expect at West Newton?

Following today’s significant upgrade of the estimated volumes at West Newton, the Company and its partners will now turn their attention to the ongoing Extended Well Test (EWT) of the A-2 appraisal well. In addition, the Joint Venture is considering a 3D seismic programme over other structures which have been highlighted within the licence area. The preliminary success at the A-2 well suggests that Union Jack has the potential to transition from a junior E&P Company into a self-sustaining mid-tier hydrocarbon producer. As such, the short to medium term will focus on maturing this play further, ahead of further appraisal drilling next year.

[astralvision] 11/11/2019 09:30

Lovely rns, massive amount of risk now out the stock, not that there was much beforehand, replaced by oodles of upside.Market valuation here is strictly temporary, same at UJO. Here it's the combination of placing overhang/ flippers and Miton selling down. Large volume days like today will soon wash these away and the stock will, imo, multi bag. What isn't temporary is the oil in WN and the surrounding area. This is a massive discovery and the figures will almost certainly shift upwards as we go forwards.imoGLA

[simon_64] 11/11/2019 09:29

Brill if that is right just the 5% traders like Csoil to clear then

[simon_64] 11/11/2019 09:26

Rogash

From RNS releases, company websites and common sense.

[nicosevos] 11/11/2019 09:24

Miton already sold out,imo.
Last holdings was for under 3% no need to update the market again.

[soulsauce] 11/11/2019 09:20

This could be very much a Wytch Farm 2.0, very odd to see the share price reaction here and at UJO.

[rogash] 11/11/2019 09:20

Simon 64. Can I ask where you get your info. from regarding shareholdings?

[stockport loser] 11/11/2019 09:19

20m delayed sells which kept share price down at open.

[ileeman] 11/11/2019 09:18

Thats just a sale value what it is worth in the ground, I would say $10 is more the figure = multiples of market cap on buy out.

Obviously if they went the producing route then worth a ton more in the long run.

[sportbilly1976] 11/11/2019 09:18

talkman,

Milton's overhang just clearing...once gone we will start to see value

personally I'm surprised someone hasn't come in with just a couple of 20-50mln buys to clear them in one swoop...it is an absolute bargain at this price

[talkman2] 11/11/2019 09:17

The market is giving absolutely no real sensible value to the asset here

[sportbilly1976] 11/11/2019 09:15

Re just the gas:

just having a quick look online...1bcf valued around $2.4mln

so 211-269bcf is $220mln-$280mln to RBD

[simon_64] 11/11/2019 09:14

Ileeman

agree with aviator , quadruple that Mcap AT LEAST.

[cashandcard] 11/11/2019 09:08

40% in the license area.



Cash

[theaviator] 11/11/2019 09:06

We have basically 40% interest in WN

[theaviator] 11/11/2019 09:05

Those figures way off

[ileeman] 11/11/2019 08:56

From LSE, $5 is extremely conservative but you get the picture.

"At $5/BOE 31.2 MMBOE net recoverable gives a market cap of £122M, which is almost 2p per share. The fact the field is onshore should mean the oil and gas is even more valuable as development costs will be that much lower."

[simon_64] 11/11/2019 08:56

Ccr

Can’t see that personally as these guys will only sell at what they consider as good value irrelevant of share price

Majors would be crazy not to be looking to take over , just surprised it is only two but think that will change once EWT and Updated CPR produced, we hold all the ACES here.

[mad foetus] 11/11/2019 08:55

That rumour comes from Daniel Levi, recommend you look into his reputation before deciding whether anything he says is more likely to be truth or fiction.