Reabold Resources Share Discussion Threads

[currypasty] 24/5/2024 08:15

dont even mention actually drilling it

[tnt99] 24/5/2024 08:11

All very well but when are they going to start drilling the well!!!!

[currypasty] 24/5/2024 07:59

still waiting for 'Rathlin have secured funding'

[giantpeach2] 24/5/2024 07:33

24 May 2024



Reabold Resources plc



("Reabold" or the "Company")



West Newton awarded AA rating for Carbon Intensity



Reabold Resources plc, the investing company focussed on developing strategic gas projects for European energy security, is pleased to publish the positive conclusions of a Carbon Intensity Study on the West Newton gas development, located within PEDL183 onshore UK in East Yorkshire, undertaken on behalf of Reabold and Union Jack Oil plc by GaffneyCline & Associates Limited ("GaffneyCline"), an international petroleum and energy consultancy. The report on the Carbon Intensity of the West Newton Field can be found at the following link: hxxps://reabold.com/investors/reports-presentations/

Reabold holds a ca. 56% economic interest in West Newton and PEDL183 via its 16.665% licence interest in PEDL183 and a 59% shareholding in Rathlin Energy (UK) Limited ("Rathlin"), the operator of the Joint Venture, which, in turn, has a 66.67% interest in PEDL183.

The GaffneyCline study highlighted the following:

· The West Newton project has an AA rating for Carbon Intensity for its potential upstream gas and condensate production, the lowest possible carbon intensity rating category on GaffneyCline's scale

· The West Newton field has a Carbon Intensity significantly lower than the UK average and onshore and offshore analogues. It is also significantly lower than the average imported liquified natural gas (LNG), based on the NSTA Natural Carbon Footprint Analysis published in July 2023

· Based on the study, GaffneyCline estimates that West Newton could produce the equivalent of just 2.87 grams of CO2 per megajoule of energy developed (gCO2eq./MJ)

· As the development proceeds and project knowledge increases, there is potential to improve the Carbon Intensity by further reducing fugitive, flaring and venting emissions and by gas-to-grid development, reducing on site gas and condensate processing, and using the shortest possible route to the National Grid

Carbon Intensity Rating for West Newton Gas Development Concept

A graph of energy efficiency Description automatically generated

Source: GaffneyCline

[simon_64] 23/5/2024 16:36

Well lets hope we hear something decent for us long suffering shareholders in the results and have many more blue days.

A.T.B boys and girls.

[wotts] 23/5/2024 11:22

Thanks Steel, correct page? Don't think we need a tanker or ocean survey, yet.

[steelwatch] 23/5/2024 09:47

Ooops! Wrong board.

[aslamqadri] 23/5/2024 09:18

All buys something is on the way at last ???

[uggy100] 22/5/2024 16:31

Well at some stage the 2 fraudsters are going to have to say something. It's pretty obvious they've been stalling for a long time now. By my reckoning Rathlin have been looking at finding funding for over a year now.

[simon_64] 22/5/2024 15:46

Since 2017, not desperate but frustrated and yes i have been buying heavily at these prices and most of us did otherwise we would not have invested in the first place.

[currypasty] 22/5/2024 15:37

as per likawalrus post up thread, cost to Rathlin is significant. Its been a very long time now that they were supposed to be finding that cash.

It appears no one interested... cant see West Newton being drilled personally

even in UJO final accounts, all timelines on WN have now dissapeared, form previous 'will be drilled in 2024'

[uggy100] 22/5/2024 13:48

Steady drip on the share price whilst the 2 crooks continue to line their pockets. Their financial package vs their performance is so disconnected its frightening.
2 risky, I'm sure the 2 cretins will be delighted if Starmer was to shut the UK O&G sector down so that they can blame someone else for their abject failures costing 10's of millions.
I would love to see the back of the pair of them but 1 would have to stay as I doubt anybody else would be interested in taking over at this truly broken company.

[crankylad] 21/5/2024 18:21

What makes you ask that Simon or are you just getting desperate? Because I do believe you have been trapped in these for a year or three after keeping topping up, but you did at one time think the sun shone out of the two piggies ring pieces.

[simon_64] 21/5/2024 16:01

Sells going through above bid now.

[simon_64] 21/5/2024 15:33

R.N.S tomorrow ?

[uggy100] 20/5/2024 15:17

I share your concerns curry, we've been strung along for years by the clueless crooks.
Get rid of them.

[currypasty] 20/5/2024 12:22

cant see it ever being drilled

[likeawalrus] 20/5/2024 12:05

my LSE post

31.12.22 cash at bank of £3.6m (Rathlin 2022 accounts)

2023 spend on WN circa £1.8m (my estimate based on UJO's 2023 spend)

new plan costed at £9.6m by RBD

Rathlin needs £6.4m to fund their 4/6 of WN

Conclusion - Rathlin £5m short

[wotts] 20/5/2024 08:47

Thanks S, nothing of substance there.

[sleveen] 20/5/2024 07:44

From today's UJO report:

Throughout 2022 and 2023, data collected during drilling operations and well testing, which included core, oil and gas samples, wireline log and well test records, were analysed by independent laboratories CoreLab, Applied Petroleum Technology ("APT") and RPS. The results of these analyses, in conjunction with internal evaluations, have been invaluable in informing the upcoming programme of work and future drilling plans.

Laboratory reports confirm that the hydrocarbon-bearing Kirkham Abbey reservoir is extremely sensitive to aqueous fluids and that previous drilling of the West Newton wells with water-based mud had created near well-bore damage through the creation of very fine rock fragments, affecting the natural porosity and permeability of the formation, which in turn had a detrimental effect on its ability to flow. Further analyses have concluded that the use of dilute water-based acids during well testing would have also affected the flow characteristics of the Kirkham Abbey reservoir.

These tests indicate that by drilling the Kirkham Abbey reservoir with an oil-based drilling fluid, damage to the oil and gas reservoir should be minimised.

A feasibility study is being undertaken by independent energy consultants CNG Services Limited on a single well development and gas export plan. The scope of the West Newton feasibility study is to determine the technical and economic viability of a single well development, with production processed from a modular plant and a 3.5 kilometre pipeline from the WNA site to the National Transmission System at an existing above-ground installation.

Commercial gas production could be brought to market within months of a successful production test, resulting in a materially reduced capital investment which provides significant early cash flow whilst additional activity is carried out on the further development of the West Newton project.

GaffneyCline Associates, an international petroleum consultancy, is currently compiling a Carbon Intensity Study in respect of the gas resource at West Newton. Union Jack believes that, in these environmentally aware times, investors will only wish to commit investments in companies and projects that support a transition to a low-carbon economy. As part of our ongoing strategy in respect of the environment going forward, we commit to be totally transparent in respect of our projects and on how our Carbon Management Practice is implemented.

The joint venture partners continue to plan the most efficient and economic method to convert the impressive West Newton Contingent Resource into a viable hydrocarbon development within an acceptable time frame.

A future West Newton development will benefit from being located in an area that provides access to substantial local infrastructure and could deliver significant volumes of onshore low carbon sales gas into the UK's energy market.