Share Name Share Symbol Market Type Share ISIN Share Description
Reabold Resources Plc LSE:RBD London Ordinary Share GB00B95L0551 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.01 2.33% 0.44 70,963,209 12:25:17
Bid Price Offer Price High Price Low Price Open Price
0.43 0.45 0.46 0.43 0.43
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 1.04 -2.67 -0.04 39
Last Trade Time Trade Type Trade Size Trade Price Currency
14:49:22 O 42,835 0.439 GBX

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03/8/202122:18New resources play8,100
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Reabold Resources (RBD) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-08-03 13:49:230.4442,835188.05O
2021-08-03 13:42:430.44150,000658.50O
2021-08-03 13:35:160.451,500,0006,750.00O
2021-08-03 13:08:060.432,000,0008,672.00O
2021-08-03 11:31:070.4425,000109.88O
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Reabold Resources Daily Update: Reabold Resources Plc is listed in the General Financial sector of the London Stock Exchange with ticker RBD. The last closing price for Reabold Resources was 0.43p.
Reabold Resources Plc has a 4 week average price of 0.36p and a 12 week average price of 0.36p.
The 1 year high share price is 0.87p while the 1 year low share price is currently 0.36p.
There are currently 8,929,612,550 shares in issue and the average daily traded volume is 51,469,697 shares. The market capitalisation of Reabold Resources Plc is £39,290,295.22.
jusmasel99: As an additional thought - the reasons why an Institution may sell out of an investment. a) strategic decision (e.g. exit O&G ) b) time based (Risk Managers place max period on investments) c) better investment potential elsewhere d) funding client returns e) exit strategy on bad investment unlikely to return value f) realising profit As a retail investor all I am interested in is f) and am prepared to wait - shouldn't be too long. What I like about RBD is the multiple opportunities for share price growth particularly Victory which should become a marketable asset before the end of the year with submission of FDP and successful negotiation with the subsea infrastructure operator. How RBD realise that value and provide a return to shareholders is anybody's guess but an IPO of Corallian is certainly possible. (I don't discount West Newton but not interested in discussing it)
jusmasel99: There are 5 institutions that hold over 3% in RBD. As of June each had a maximum of 0.3% above a reportable threshold so they would only have to sell +/- 30m shares to reach a threshold. With the amount being sold recently it could not be any of them unless it is a huge worked order that only needs a TR1 once the order has been filled (I don't know if that is how it works) The only other way so many shares could be sold by a single shareholder would be if they held less than 3% so the max would be 270m and we are fast approaching that number (I am basing that on the trades of round number of millions recently so pure speculation on my part) I think it is significant that there has been sufficient interest from retail investors that despite so many shares being offloaded presumably by an Institution that the price has not fallen further. When the selling stops the share price will surely recover and it can't be long now. Meanwhile the Gas Price is astonishing everybody and despite the heat, the Gas futures market is looking extremely bright. Windless days brings the reality of the need for Gas Powered energy sources into focus.
jusmasel99: Ha! - Sorry but I have no interest in joining in any discussion on West Newton for what should be obvious reasons. Victory is not so many months away and as I stated on the other board one of the risk factors in my opinion is not as much of a risk as I thought it might be. It is a proven discovery of gas (in the seventies when the explorers were looking for oil) with local tieback infrastructure. When Corallian got hold of Victory even they could not have foreseen the current spike in Gas prices which in my opinion are indicative of the wholesalers not planning for increased usage as Covid restrictions ease. Of course the price will fall back eventually but historical mean prices will continue to rise. It is an exciting project that regardless of West Newtown will support a healthy rise in the current share price Next news expected this year will be a MOU for a tieback with the Laggan operator as well as the FDP to be submitted. Once all that is done I expect some corporate action one way or another to release value from Victory to RBD.
canigou2: Agree with all of the above from GFAM, I'm in b?lls deep also. But I guess the market is waiting for confirmation of the EWTs and CPR. If those prove positive, this share price will re-rate obviously. By the end of this I'm 'hoping' for flowing oil (with inferred numbers at 500+ bbls a day from the vertical wells, and significantly more from the optimised horizontal well) and at least 100 mmbbls p2 recoverable (57 mmbls attributable to RBD). IMV that would attract a buyer and RBD's share would be close to $500m or £400m. That's 4.5p in share price terms. Let's hope all of these ducks line up. We have waited a long time and it may take the remainder of 2021 to see all of those ducks waddle into position, but GLA. (enough ramping from me .. how do others see it?)
dan de lion: Ex Corallian share holders rushing to sell RBD as the share price drops because ex corallian share holders selling is driving the share price down.
grannyboy: Well once again it's starting to look like Zak Mir's predictions of 1p is going to be missed once again, he started off predicting in Feb that the share price would reach .90p by the end of March that didn't happen, then he said .1p share price by the end of April, again it didn't .. Then his last one(post1249)again he states .1p by the end of May .. His predictions are looking quite shabby and to be ignored ..Not that anyone really took much notice, but just another boring day in the life of rbd!
tedoby2: Reabold Resources plc (RBD) is an investor in upstream oil and gas projects with several as yet under-developed assets in its portfolio. But there are just two taking centre stage at the moment. Potentially the larger of the two assets is an oil and gas opportunity at West Newton in Yorkshire. RBD has a holding in excess of 56% in this one. The other one being a low risk offshore gas opportunity approximately 80km NW of the Shetland Islands known as Victory. RBD now has upscaled its holding to 49.99% in the project via a share swap a couple of weeks ago. Notably there’s been some selling since the transaction. But I think that’s understandable given the new shareholders in Corallian, the majority shareholder on Victory and a private company would have been given a route to the market and able to liquidate some of their holdings. I don't want to completely lose sight of connection between these two projects given there's newsflow expected to start imminently on both. But for now I'd like just to make a bull investment case for the one we should be receiving the news on first. That’s Victory. A Competent Persons Report exists on Victory but that is currently under review. The new one being prepared is thought to be substantially to the upside. I doubt we’ll have to wait very much longer now to find out if that’s the case as it’s due this month. RBD intends to sell and liquidate Victory later this year or in the early part of 2022. They've made that known which is perhaps the main reason why a new CPR has been called for. There are many methods that can be used to value Victory for the sale or indeed any of the assets in RBD’s portfolio. Victorys’ valuation (NPV10) is currently stated in it’s presentation to be around £146m. That’s based upon a gas price of 50p/therm ( link attached). According to Staista the forecast price of gas for the relevant period we’re looking at however is more likely to be around 38p/therm (link attached). If the lower rate was used the NPV would be nearer £111m all other things being equal. https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&;cd=&cad=rja&;uact=8&ved=2ahUKEwiIjcmXmeDwAhXs1uAKHQaQALgQFjAJegQIAhAD&url=https%3A%2F%2Fwww.statista.com%2Fstatistics%2F374970%2Funited-kingdom-uk-gas-price-forecast%2F&usg=AOvVaw35JlqX5aaVyu4oi7YpmhYx https://reabold.com/investor-relations/reports-and-presentations/ But I also recognise the method posted on bb’s sometimes based on an earnings metric. It's simple to use which makes it one of my favourites. So on that basis the current CPR tells us the flow rate from the field should be approximately 12000 (rounded) bopde when Victory is operating in it’s optimised state in 2024/2025 and that the field's life expectancy is approximately 8years. Based on the CPR then I think it's reasonable to assume the annual profit to be 12,000 bopde x $30/bo profit x 365 days when it's fully operational. Which give us $131.4m/annum I also think a p/e of 10 looks reasonable given the anticipated life of the field and it's location.So if that’s right that would give Victory a notional Market Cap of $1314.0m or £957.8m at the current exchange rate Also I think a reasonable Discounted Cash Flow factor from 2025 I should be around x 40% for the three to four years anticipated lead into production given the high annual ROI and other business fundamentals . That would give us a present day value of £957.8m x 40% = £382.9m We also know that RBD now owns 49.99% of Victory which puts RBD’s value at approximately £191.5m (£382.9m x 50%) And finally assuming RBD has around 9bn Shares In Issue we get to £191.5m ÷ 9bn to give us 2.12p per share. Amongst other valuation models generally used, most common is one that benchmarks the opportunity against similar ones in the same space and time. Those producing gas that is.This can be the most appropriate. But what’s coming out of these assessments is the NPV given in the current CPR looks skinny and perhaps that’s behind the reason for a new one. We’re about to find out if I’m right in a fews days. Professional Analysts or rather the better ones will use several methods and then take a weighted average. But of course the real value of anything material will be what an offeree is prepared to pay for it. In other words more of a commercial approach taking expert valuations as references. A commercial offer from a suitor may be more than or less than their respective valuers assessments. As often happens an initial offer may be less but is likely not to be the only one the offeror may make. So overall in a sale situation I think a suitor might look for as much as a 33.3% discount to a reasonable valuations by qualified experts. If that's right I believe we're looking at an acceptable offer of around 1.35p to1.50p per share as things stand. At the time of writing RBD’s share price is just 0.70p! That’s a demonstration that Victory could possibly have a sale value of RBD’s current Market Cap to the upside of 2x in it’s own right without counting any of RBD’s other assets. If the new CPR gives us a bigger resource as the Corallian & RBD the JV partners believe then we may have to reconsider the metrics I’ve used in the equation, not least of all the p/e ratio. It seems the owners are basing their judgement on new found information if they believe the current CPR is too conservative. I very much doubt they’re simply guessing. A clue lies on page four of the presentation on Victory, RBD states that "SLR has been appointed and an interim CPR of the resource range completed". That was in November 2020. Although the Interim CPR was never published it’s evident the information it contained must have indicated notably better metrics. Hence the new CPR having been commissioned. There's a direct correlation between a suitable p/e ratio and the life of the field. So for instance if the life is more like 15 years that would suggest the p/e should be more like15 so quite a difference. For now that would be my best guess and if I'm right that would put a reasonable selling price for RBD’s shares at between1.95p and 2.25p. Under the AIM rules one part of me is anticipating notice of the disposal of Victory within two months of the revised CPR and shareholders approval sought as appropriate under the class test rules. One part of me thinks that could well be the next update we hear on Victory and I very much doubt it’s far away and it’s needed as the first step to enable RBD to monetise the asset in Q4 this year or the early part of 2022 which is it’s intention. Zooming out however the other part of me is thinking a takeover of RBD could possibly be on the cards. I say that believing there’s a potential suitor is lurking and very interested in both Victory and West Newton and it seems too much of a coincidence that two CPR’s on the projects under interest are running at the same time. It makes sense for both any potential buyer and RBD to wait until both CPR's are out. I’ve rounded some of the metrics used in the calculations for ease of math. AIMHO
grannyboy: "In the near term no gain at all" ... Many thought value would out rather sooner then what has transpired after the drilling of WN-A2, and when it was announced by Rathlin and the two boy wonders that operations were being 'paused' most didn't expect the 'pause' to last so long. And it's to be hoped that the EWT on WN-1Z and WN-A2 has been completed, and the CPR the same, and the share price has increased substantially, so that at last the lth's can see a large increase in the share price before anyone has to put up with the two duo's future investment adventures at any agms.
grannyboy: I cannot understand why, when you compare RBD with MATD, the charts, m.c,etc, and the totally different share price action.. MATD won't be drilling any wells until 2022 at the earlist, WN , if the potential is anywhere near what has been indicated, then WN more potential then MATD licenses .. So what's going on with the different share price response???
dan de lion: Yes Soulsauce, difficult to understand why it is taking so long for the RBD share price to reflect the potential!
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