Reabold Resources Share Discussion Threads

[currypasty] 26/2/2020 08:14

Gross oil production across Reabold California of 50,286 barrels of oil equivalent between July and December 2019 (Reabold 50% equity interest)

Net revenue to Reabold from hydrocarbon sales in California of USD 1,349,000 between July and December 2019


what were we expecting ?

[showmethemoneyhoney01] 26/2/2020 07:37

And rising now that VG6 has proved commercial with additional targets.

[5chipper] 26/2/2020 07:33

With vg-6 income added = approx. £2.5m a year income

[showmethemoneyhoney01] 26/2/2020 07:21

Great bit of news. Going to be plenty on the other 2 projects over the next few months as well.

[slimchops] 26/2/2020 07:20

RNS Number : 1178E

Reabold Resources PLC

26 February 2020

26 February 2020

Reabold Resources Plc

("Reabold" or the "Company")

Update on California Operations

Reabold, the AIM investing company which focuses on investments in pre-cash flow upstream oil and gas projects, is pleased to announce an update regarding its operations in California.

Highlights:

-- VG-6 well on West Brentwood tested at 350 mscf/d and now on permanent production
-- New play at West Brentwood field opened up, providing additional follow on targets
-- Gross oil production across Reabold California of 50,286 barrels of oil equivalent between July and December 2019 (Reabold 50% equity interest)

-- Net revenue to Reabold from hydrocarbon sales in California of USD 1,349,000 between July and December 2019

-- Estimated cash operating cost per barrel of oil equivalent of $13
Further to the Company's announcement of 6 January 2020, Integrity Management Solutions ("IMS"), contract operator of Reabold's California operations, has successfully tested the VG-6 well. VG-6 lies within the West Brentwood licence, in which the Company has a 50 per cent. working interest. The well tested at 350 mscf/d and has been put onto permanent production. Gas produced from VG-6 is being sold utilising the existing pipeline infrastructure constructed by Reabold and its partners in California, IMS and Sunset Exploration.

VG-6 was designed to test a new geological horizon at West Brentwood, the Third Massive, different from the Second Massive which is the producing horizon for the VG-3 and VG-4 wells. Success at VG-6 has therefore opened up a new play on the West Brentwood field and therefore additional follow on targets.

Oil production across Reabold's California licences, being West Brentwood and Monroe Swell, in which Reabold has a 50 per cent working interest, for the period from 1 July 2019 to 31 December 2019 was 50,286 (gross) and 25,143 (net) barrels of oil equivalent ("boe"). Reabold's net revenue generated from the sales of hydrocarbons in California over the period was USD 1,349,000 (USD 1,079,000 net of royalties). This equates to a realised price of $53.7/boe ($42.9/boe net of royalties). The estimated cash operating cost per boe was approximately $13.

Stephen Williams, co-CEO, commented :

"We are delighted to have drilled our fifth successful well in California and to see strong rates of production from a previously untested horizon. Success at VG-6 has unlocked a new play with more running room at West Brentwood than we had previously anticipated.

"The excellent economics of our operations in California are evident from the high gross profit margin we are delivering for minor expense. With the addition of VG-6, production is set to continue to increase through 2020, following a strong 2019 where we added incremental wells and grew our income profile."

[slimchops] 26/2/2020 07:19

RNS Number : 1178E

Reabold Resources PLC

26 February 2020

26 February 2020

Reabold Resources Plc

("Reabold" or the "Company")

Update on California Operations

Reabold, the AIM investing company which focuses on investments in pre-cash flow upstream oil and gas projects, is pleased to announce an update regarding its operations in California.

Highlights:

-- VG-6 well on West Brentwood tested at 350 mscf/d and now on permanent production
-- New play at West Brentwood field opened up, providing additional follow on targets
-- Gross oil production across Reabold California of 50,286 barrels of oil equivalent between July and December 2019 (Reabold 50% equity interest)

-- Net revenue to Reabold from hydrocarbon sales in California of USD 1,349,000 between July and December 2019

-- Estimated cash operating cost per barrel of oil equivalent of $13
Further to the Company's announcement of 6 January 2020, Integrity Management Solutions ("IMS"), contract operator of Reabold's California operations, has successfully tested the VG-6 well. VG-6 lies within the West Brentwood licence, in which the Company has a 50 per cent. working interest. The well tested at 350 mscf/d and has been put onto permanent production. Gas produced from VG-6 is being sold utilising the existing pipeline infrastructure constructed by Reabold and its partners in California, IMS and Sunset Exploration.

VG-6 was designed to test a new geological horizon at West Brentwood, the Third Massive, different from the Second Massive which is the producing horizon for the VG-3 and VG-4 wells. Success at VG-6 has therefore opened up a new play on the West Brentwood field and therefore additional follow on targets.

Oil production across Reabold's California licences, being West Brentwood and Monroe Swell, in which Reabold has a 50 per cent working interest, for the period from 1 July 2019 to 31 December 2019 was 50,286 (gross) and 25,143 (net) barrels of oil equivalent ("boe"). Reabold's net revenue generated from the sales of hydrocarbons in California over the period was USD 1,349,000 (USD 1,079,000 net of royalties). This equates to a realised price of $53.7/boe ($42.9/boe net of royalties). The estimated cash operating cost per boe was approximately $13.

Stephen Williams, co-CEO, commented :

"We are delighted to have drilled our fifth successful well in California and to see strong rates of production from a previously untested horizon. Success at VG-6 has unlocked a new play with more running room at West Brentwood than we had previously anticipated.

"The excellent economics of our operations in California are evident from the high gross profit margin we are delivering for minor expense. With the addition of VG-6, production is set to continue to increase through 2020, following a strong 2019 where we added incremental wells and grew our income profile."

[5chipper] 25/2/2020 20:53

"Currently being sought" does not mean application has gone in.

If you are currently seeking a new job you have not yet necessarily applied.

[grannyboy] 25/2/2020 08:43

This statement was in the 18/12/2019 RNS, Project Update ..

"Regulatory approvals to re-commence the EWT are currently being sought, once these approvals have been received, the equipment will be mobilised to site at the earliest opportunity and the EWT will re-commence"

So contrary to the RNS that was posted on the 20/2/2020, where they state that they have just presented the redesigned plans to the EA, and expect this process to take between 4-6 weeks.

It would appear the right hand dosn't know what the left hand is doing, and all the partners need to get their acts together and stop changing the timeframes from one RNS to the next.

[divmad] 25/2/2020 05:46

It is not at all a sure thing that the EWT will piece the WN B site drill, despite what the magic duo have said publicly.

[stockport loser] 24/2/2020 17:46

who cares?

[alamaison5] 24/2/2020 14:54

RBD More for me, lol. It feels like stilling.
I might have some more. .635p average now.

order confirmation
Thank you. Your order is confirmed

Order ref:NCTFS5
Buying160,776 REABOLD RESOURCES PLC ORD GBP0.001 (RBD)
Status:Executed
Placed at:14:49:34 24/02/20
Price:£0.006195

[ileeman] 24/2/2020 13:02

Price action just boredom sellers so irrelevant to me, soon enough there will be a rush to get in.

Only need to look towards pre drill movers like BPC.

Retail will always cry over small moves pretty shocking they dont look at the bigger picture, I guess thats why most lose money.

[ileeman] 24/2/2020 12:54

"shame on them for doing so"

I dont think you understand the o&g space, simple solution dont invest if you dont have patience. Sorted.

No timeline has been given for EWT only in the most recent February presentation and that has not slipped = end of Q1.

Now if you are talking about slippage on California and Parta again they can only go by what the operator has told them.

[grannyboy] 24/2/2020 11:58

Constant drip..drip..drip..day after day in the s.p... No share price appreciation being achieved by the boy wonders... But not to worry, their salaries will still be going into their bank accounts!!

[ileeman] 24/2/2020 11:28

Think it will be much sooner than September.

Current weakness will be short lived.

[uggy100] 22/2/2020 18:50

To be quite honest steelwatch I now take RBD's timeframes with a pinch of salt. They've over promised & under delivered I'm afraid & shame on them for doing so.

[tunley] 22/2/2020 16:02

Hmmm. Ineos spending millions expanding their Hull facilty...
Here's my prediction for what little it might be worth.

WN proved up or at least drilled and CPR'ed by September 2020
Ineos farm in by end 2020 for initial consideration of 250 million,so £100m to RBD
2p a share dividend or share price increase by March 2021

Plus we still have our share (quire literally) of rest of WN, Cali, Parta and Corallion.

So, while your more foul tempered or plain stupid posters (Perspersimon, PTSD Piper, Grannybouy, Iamwellandtrulygrating1, Krikook and the plainly drugged up Atino) are busy spitting their middle class entitlement around like popcorn in a pan, hold the thought: 12 months - +2p p share

[stockport loser] 21/2/2020 07:44

theres only one drip round here jaffa.