Reabold Resources Share Discussion Threads

[croasdalelfc] 21/7/2020 06:58

Game on in Parta ! Acidisation to start on 27th - nice pressure build up in well. https://adx-energy.com/documents/romania-well-flow-test-operations-update-4.pdf

[soulsauce] 20/7/2020 17:19

Lol grannyboy, I like that.

[grannyboy] 20/7/2020 17:14

ANOTHER disappointing day at the Theatre of lost dreams!!

[barnes4] 17/7/2020 13:26

The delt board need to develop some alignment with their shareholders

They raise 15 million last year for drills that even then seemed a long time away diluting their shareholders into oblivion

They then employ a CFO in January
They award themselves massive salaries
They were awarded large bonuses for no apparent reason
They then change the name of the company

They then sat and watched the value destruction

All these things are a drain on our resources and I will now consider any opportunity to get my money back!!

[cashandcard] 17/7/2020 11:40

soulsauce,

Well, at this stage, for DELT holders who are facing an activity drought that may last until 2022, WN is pretty immediate. Yes, its been slow progress for us but everything seems to be pointing towards WN being a big catalyst - the move against Humbers stake, now this deal (offers cash injection - but comes with longterm activity partnered with Shell, who may well take the lot if part of it proves the play).

As we know from the drone footage posted online, the site is nearing readiness for activity. Hang in there folks. Delt holders have been 'dealt' a poor hand by their own management - pun intended. RBD is offering them a bailout opportunity - they can accept this or prepare for a lockdown that may not end until 2022.

I would be happy for management here to go hostile or organise a scheme of arrangement. I'm pretty sure they will already have sounded out major shareholders as alluded to in recent RNS's.


Cash

[chrisa1] 17/7/2020 11:33

Not to mention all those managerial cost savings. I wonder how advanced RBD are in convincing shareholders. Am I right in thinking that it would need in excess of 75% approval as a special resolution?

[soulsauce] 17/7/2020 11:32

'Immediate' activity Cash?

I think we have done more than our fair share of waiting here with no movement and no shareholder value while Ant and Dec have been taking their money.

[cashandcard] 17/7/2020 11:26

chrisa1,


You hit the nail on the head. DELT board want their shareholders to sit tight for 1.5-2years (possibly longer) and do nothing but wait. Pigs at the trough comes to mind.

RBD offers immediate activity and a diversified portfolio.



Cash

[chrisa1] 17/7/2020 11:22

Would their negativity have anything to do with the likelihood that the current Delt board will all be losing their jobs?

[cashandcard] 17/7/2020 11:13

Spangle93,


In fairness, I can understand the frustration of DELT holders that they find themselves in this position - we've all been there many times before. But this is of their own making (mammoth dilution lastyear) and due to the fact they are almost entirely reliant upon Shell for activity. The insti's want to see some action before the year 2022. I also do not buy the reasons the DELT board rejected the offer, if they wanted a higher price, fair enough, but the other reasons re WN etc don't wash.

What are your thoughts on a possible combination/deal?


Cash

[theaviator] 17/7/2020 10:59

Find a "friend" over there? ;)

[akx89] 17/7/2020 09:04

RNS soon on AMIGO!! WATCH IT FLY! Dont miss it!Close 13p imo dyor

[spangle93] 17/7/2020 09:00

cash - noted your post last night - presumably the RBD board read it and thought "that would make a good RNS" ;-) Nice insights

[cashandcard] 17/7/2020 08:54

As I mentioned last night, DELT board are not being straight forward with their shareholders re WN. They have mentioned it favourably in a number of presentations. It's an excellent chance for DELT holders to gain exposure in the same play, aswell as many other plays. Also, they need to consider, Shell can take aslong as it wants - being part of an enlarged group with several assets takes away dependence from Shell.DELT holders may have to wait quite awhile an endure an even greater discount to cash if they forego this potential bailout opportunity. Their bosses will just sit there and continue taking salaries allowing the cash to run down, whilst blaming Shell for inactivity. Standard for most smallcap oil. Atleast here the bosses get on, invest and take projects forward.I would urge everyone in RBD to look through the old DELT/CLNR presentations and also get behind this deal. It capitalises upon the data from WN and yes also brings alot more cash to the table.Cash

[theaviator] 17/7/2020 08:42

As previously discussed, they aint happy about the offer lol It's normal.

[darkhearse] 17/7/2020 08:36

RNS: ""the West Newton project, which gives us serious concerns in relation to the technical viability, materiality and limited potential upside""

[theaviator] 17/7/2020 08:19

Cash, I agree with that 100%

[theaviator] 17/7/2020 08:14

Vote against it then and bog off.

[grannyboy] 17/7/2020 07:51

cpap man, your frustrations are being taken out on the wrong company!!

In this mornings RNS there is no mention of the EWT , I believe RBD will use it to encourage DELT shareholders to the near term activity (in their case, RBD shareholders have waited long enough for it to get to this stage) and there being an overlap in announcing the start of the EWT , (besides the two wells at WNB), and as the 12th August nears as to whether RBD make a binding offer !!

[cpap man] 17/7/2020 07:13

At DELT we do NOT want a £40,000,000 MKT CAP company with nought run by a couple of spivs!

[bageo] 17/7/2020 07:11

we want the cash not really the Deltic assets RNS out this morning

[cashandcard] 17/7/2020 00:22

Have not commented until now.Check my post 6908 - unbelievable.The company I refer to in that post is .....Cluff/Deltic energy.They are worried about WN? They are talking rubbish, it's an extension of the same play, they know it. If it's problematic onshore, how on earth can it be viable offshore? I encourage everyone to look at the old Cluff presentations from the last 2years - they actually highlight WN in there favourably.Whilst I don't think we need anymore projects, I like the fact S&S are looking at cheaply capitalising on what are great assets, under a basket case of a company. Cash

[stockport loser] 16/7/2020 22:29

Delts drill put back to 2021, the squeeze is on.