Reabold Resources Share Discussion Threads

[sleveen] 25/8/2021 14:34

£7.5m raised in Jan and there was £1m on the balance sheet 31/12/20.

[uggy100] 25/8/2021 11:55

Unfortunately simon the dynamic duo don´t like telling pi´s what´s going on.

[simon_64] 25/8/2021 10:11

Curry

Fundraise of 7.5 million on 28th January, they had a million odd in the bank when those results were published and increased price of oil in the period following the results and in this period it is to be assumed they are on full production,which they wer not previously, they have not said anything to the contrary,after the low POO in the period those results covered they should be raking it in from Cali. IMHO.

[currypasty] 25/8/2021 09:52

simon, can you give a link to that?

all I can find is in the latest punlished results for California..


"Reabold's revenue net
of royalties US$ $1,063,000 "

[simon_64] 25/8/2021 09:16

6.8 million and more coming in from Cali.

[32campomar] 25/8/2021 08:45

They have millions in the bank

[pistonbroke1] 25/8/2021 05:07

The massive overrun in time of EWT must be costing a pretty penny and I to believe the recent selling has been forward selling. £5m is a shed load of shares. Only positive is price should bounce once loan is in place provide WN doesn't disappoint.

[thetoonarmy2] 24/8/2021 21:54

So I take it that's a death spiral they tell them how much they need they the funder sell that amount of shares then take the funds and RBD then issue the shares they have already sold? Is that right?Maybe this explains the heavy selling over the last month or so.

[currypasty] 24/8/2021 16:34

I guess this is still available if WN goes overbudget?


Funding

In 2020, Reabold did not complete any equity capital raises. In May 2020, in conjunction with the agreement to acquire an additional interest in PEDL183 the Company secured additional liquidity in the form of a GBP5 million discretionary equity line cash facility that provides additional flexibility and strength to the Company's financial position.

Macro circumstances at the time underscored the benefit of ensuring sufficient financial flexibility is available, particularly ahead of a major drilling campaign such as that planned for West Newton in 2020. Reabold therefore enhanced its liquidity position by securing a GBP5 million discretionary cash facility with Acuitas Capital, LLC ("Acuitas"). The Directors viewed this discretionary cash facility as a prudent measure to provide increased liquidity without the need to dilute shareholders unduly by way of an equity fundraise whilst the share price significantly undervalued Reabold's portfolio due to the prevailing low oil price environment and the COVID-19 lock-down. The Discretionary Facility is in the form of an Equity Line Agreement (the "ELA") for a period of 24 months with Acuitas, whereby Reabold will have the right, at its sole election, but not the obligation, to issue new Ordinary Shares to Acuitas at a subscription price as determined under the ELA for an aggregate amount not exceeding

GBP5 million.

[soultrading] 23/8/2021 12:35

They are not putting more money in, they are submitting screening requests just to make the project more attractive to sell. If you believe the noise there is already more than one interested party and this is just about making it attractive.

Rathlin is currently focusing on progressing activity at West Newton A and West Newton B, the results of which could be transformational for the project, particularly given the extremely encouraging results so far. A project of the scale we believe West Newton to be is likely to require multiple wells from multiple sites over time. Rathlin has therefore submitted Screening Requests for two new well sites, West Newton C and West Newton D.

[currypasty] 23/8/2021 12:30

toon, that wouldn't surprise me with this shower.. confetti maestros

[thetoonarmy2] 23/8/2021 11:54

Sorry guys this was what was posted on LSE BB I was wrong it said £5 mill drawdown not £6 mill placing they obviously have a facility already it will still dilute but if they put money into Raithlin then that's confidence they are happy the way things are going surely. ..........persimmonFri 10:43Posts: 3,982Price: 0.37I believe that very shortly we will have an RNS about a £5M drawdown loan facility from Aquitas.Under the agreement an Advance public needs to be issued by RNSUnder the pricing periods mentioned the shares would probably be priced around the 0.36p range.Remember the agreement states initially the monies would be used for ADDITIONAL APPRAISAL AND FURTHER DEVELOMENT AT WEST NEWTON.So much more works at W.N is already flagged up here!

[sarkcosy] 22/8/2021 21:41

If you think they will do a placing at this price level either you are deluded or you think they are completely nuts....of course they could be as they appear to have form....

[steelwatch] 22/8/2021 21:14

toon - presumably they will take an even bigger stake in Rathlin if so?

[soulsauce] 22/8/2021 18:06

Wouldn't surprise me.

[theaviator] 21/8/2021 10:52

Anyone with a a reasonablly sized brain (that omits a few on this BB already) the giganticism of this...https://newplanningaccess.eastriding.gov.uk/

[pistonbroke1] 20/8/2021 17:49

tnt wrong rumour its 1000bpd from wressle

[tnt99] 20/8/2021 17:46

Rumour has it over 1000 barrels a dayOn test buy buy buy!!!!

[theaviator] 20/8/2021 16:07

Granny been caught PANTS DOWN

[simon_64] 20/8/2021 15:52

Oooohhhh dear Granny A.K.A Soulsauce.

[simon_64] 20/8/2021 15:43

This was also the experimental drill to find the sweet spots.

Looks like they have found them.