Reabold Resources Share Discussion Threads

[triskelion] 14/12/2023 01:32

I see the Company's RNS (RNS Number : 5622W) today the 13th purports to convene the EGM for 10:00am on 10 January 2023. sic!

[uggy100] 13/12/2023 21:46

Sorry but I don't think our ceo's have a clue.

[likeawalrus] 13/12/2023 13:59

just 4 weeks until the vote - my guess is Reabold will announce funding for Rathlin quite soon. I'm not sure how they will find all the money, perhaps a loan facility secured against the £4m due from Shell in 2024 combined with a farm-out by Rathlin.
Rathlin says £9m to fund their 4/6 so they are £6m short. If they sell 1/6 for £2m (for example), they then have about £5m cash with a £6.75m capex due, easily covered by Reabold. It will be very interesting to see how RBD solves the problem.

[likeawalrus] 13/12/2023 10:59

WN seems very unlikely in H1, whoever controls the company will need to apply for an extension. if KS and Co are in charge, what will they do with the excess funds if they have to wait a couple of years for an extension? my guess is they will use the money to invest in Daybreak - apparently KS owns 40% ?

[uggy100] 13/12/2023 10:25

There's no chance of a drill at WN by June now imo.

[fireplace22] 13/12/2023 08:52

Probably have Starmer to contend with before June, the other lot wont last into the summer.

[likeawalrus] 13/12/2023 08:30

Finals - "The Joint operation between Rathlin, Reabold and Union Jack have a commitment to drill and test a new Kirkham Abbey deviated or horizontal appraisal well by June 2024."

the clock is running down fast on WN, yet no news regarding Rathlin funding from RBD or Rathlin despite the Shell payment, it's hard to see how they can drill in H1 unless the rig is already booked

[uggy100] 13/12/2023 08:08

Lmao the 2 crooks restart the buyback campaigb, shares will be held in treasury & that's their idea of returning value to shareholders. They remain a couple of slimeballs.

[sleveen] 13/12/2023 07:31

Satter's holding of 40% in Daybreak and Cuttaneo are probably worse for RBD shareholders than the gruesome twosome.

Look at ZEN share price over the past 5 years.

[uggy100] 11/12/2023 11:19

We have been told as little as possible by the scumbags & are now starting to get snippets from KS & co rather than from the 2 fools.deplorable.

[likeawalrus] 11/12/2023 09:48

I have always had serious doubts about the deal structure but now my confidence in the project is evaporating too. after the latest deal LNe have been issued 1.3 billion shares in total...shareholders should be told if there is a time restriction on the sale of these shares

[uggy100] 11/12/2023 09:37

You have to admit it smells a bit.

[uggy100] 11/12/2023 09:36

Maybe not law but it doesn't sound good to me. It just indicates the dubious reputations of the directors at LNE.

[likeawalrus] 11/12/2023 09:28

sorry uggy, just read the letter from the requisitioners - my understanding from the letter is that the shares were issued to LNe but then transferred from and by LNe to individual Directors. Whilst this does seem odd, I doubt RBD has any say over what happens to the shares unless there is a restrictive covenant as part of the deal, eg shares cannot be sold before X date. (I have previously questioned this). If there is a restriction in place, does a "transfer" equate to a sale? imo yes - all just speculation on my part

[likeawalrus] 11/12/2023 09:02

"...while the remaining £900,000 will be satisfied through the issue of 486,486,487 new ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares") at a price of 0.185 pence per share to LNEnergy Limited"

uggy why do you believe the shares have been transferred to the directors, have I missed something?

[uggy100] 11/12/2023 08:32

Heid oil posted correspondence purportedly from the requisitioned, if true it looks like a disaster & we've all been conned.
It appears the RBD shares issued have been transferred to the directos rather than held in LEE'S name ! I fail to see how that can be remotely legal.

[likeawalrus] 11/12/2023 07:30

could have been worse, issued at .185 instead of market price - a small blessing

[likeawalrus] 11/12/2023 07:18

RNS this morning - exactly as I predicted on 05/12

"... followed by another top-up of LNe - part cash, part issuing shares"

[greypanther2] 10/12/2023 15:33

Most of the excitement here seems to be about the forthcoming EGM, whenever that's going to happen, so I thought I'd take a look at the Colle Santo CPR (Competent Person's Report) prepared by RPS in September '22. There seems to be a lot of detailed technical information within it, but IMO there is also quite a lot that isn't being said about the asset that S&S are "betting the farm on". For example, why haven't RPS shown any really useful seismic lines? The 2D seismic data used to compile the map is sp*rse and pretty ancient. It's actually mainly old dynamite and other 2D data, all seemingly based on different datum levels. And RPS haven't shown us any useful well logs, well correlation panels, or interpreted petrophysical log. All in all, the CPR seems a bit thin to me. I'm wondering if any one else has had a look too? Thanks, GP

[likeawalrus] 09/12/2023 15:05

excellent, thanks steelwatch

[steelwatch] 09/12/2023 14:44

Revised requisition signed by Pershing Nominees: