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Me a swampy carrots lol. How many swampies would vote Reform?
Today’s RNSs from UJO and Reabold contain some interesting points but, rather unfortunately IMO, neither of them mentions the expected cost of the directional well, other than saying its “offering significant cost savings compared with a horizontal well”. The gross cost of the horizontal well was originally expected to be of the order of £12 million, or £2.0 million net to UJO’s and Reabold’s 16.665% equity share. However, RBD’s presentation for their Edinburgh meeting tonight reveals slightly more about the directional well’s expected cost: £6.4 million for the well plus £3.0 million to test it, or £9.4 million in total. Of this smaller sum UJO’s and RBD’s share would be “only” £1.57 million and Rathlin’s 66.67% share would be about £6.27 million. So I suppose Reabold could conceivably bail out Rathlin by using the greater part of £9.1 million of cash that they say they have in the bank after receiving the final payment from Shell for Victory. But will they, I wonder? In their RNS UJO also said “An additional material secondary target in the deeper Permian Rotliegend Sandstone will also be evaluated during drilling of the WN-A3 or by the re-entry of WN-A1”. IMO the last point could be very important as the published data for the WN-A1 well shows that the well was suspended with only a 7 inch casing / liner over the Rotliegend gas-bearing interval. That could mean that re-entering the A1 well could be done quickly and quite cheaply, probably for about £0.5 to less than £1.0 million by using a much cheaper work-over rig. This could mean that an A1 re-entry well in 2024 is still a strong possibility.
I’m not a company stooge but you are a sweaty smelly swampy.
Having read today's RNS, it is obvious that West Newton is beyond the remit of the incumbents. So here's to an oiler taking a fancy to it and buying these fund managers out. Hope the Scots give him a roasting and laugh at his 'working model'
David it should be obvious to all by name that RBD is just another AIM lifestyle co. & as such the shareholders mean nothing to the 2 scumbags. At last years AGM they were reluctant to talk to shareholders which is a disgrace.
Carrot13 is a company stooge.
I am tired of hearing this, and beginning to wonder if SW and SO have any idea why investors actually invest in the stock market. I always believed it was either for income or capital appreciation. If the directors think their business model is working, then they obviously don't understand this fundamental truth. Reabold, to date, has provided no income and a falling share price.
When a company's market capitalization is less than the amount of cash on hand, it suggests that investors value the business assets at zero, so how can the business model be working if the actual business is seen to be worthless. I wonder if they have ever considered what features shareholders would in a business model. Perhaps not one where the directors only provide something which they consider newsworthy once or twice a year, surrounded by interviews where they tell us what a good job they are doing, and how well the business model is working.
A consistently rising share price should provide some validation for a successful business model. I wonder why Reabold's share price doesn't reflect this.
For a very long time now the directors have been stating it will be better in the future, but they seem very coy about providing any timelines. The future still seems a very long way away.
Nonsense, the two ruinous cretins in charge will soon get through that £9 million cash, they've already spent 4 times that amount and its all disappeared into a non-core black worthless hole hasn't it? They would have been sacked long ago in 99.9% of other companies for destroying shareholders interests. JMO Adyor!
Cash alone is 0.09p+ per share, even if you think WN and other assets are a waste of time they still have value, possibly a lot of value. Share price is very cheap all things considered, even a smelly swampy can do the maths on that. Sounds like Persimpleton and Stink Pete from Hull and Ruthless Ruth are going to have to get another caravan outside West Newton prepped, hopefully the locals will donate their potato peelings again.
Thebigconcompany.co.uk
There are 'fees' and then there are expenses !
No surprise there then..is that to service the Ferrari?
Moniman, Williams was the only Rathlin director paid in 2021 & 2022, £36k pa - source 2022 Finals
"The fees paid on behalf of Stephen Williams are received by Reabold Resources plc..."
Best read what is not said rather than what is with RBD. Any definite news regarding time scales....NO !
The spike in s p will be propped up by buying into treasury following for many more months of decline...JUST WATCH !
I assume he's also drawing a huge salary from Rathlin for seemingly doing nothing there as well?
Sphincter Williams is on the board at Rathlin, why have they not got funded sorted out yet?
Just what have they been doing - this is not acceptable!
Itsawrap, once again I completely agree with you. As a feasibility study is being carried out I would expect that to take several month. Work is still being carried out re permits etc. so God only knows how long that will take. A drill this year is just a pipe dream.
I also note SW mentions progress at CS re permits. I assume that includes the early production permit which the lieing toe rag promised by end of 2023 ! The man has no shame & has no right to be a ceo of this company.
It's more jam tomorrow & waffle imo.
Most importantly they tell us that funding has still not been finalised which is, quite frankly, a joke.
I hope it is good for the sp but a little early me thinks. I think a major re-rate will only come when Rathlin confirms funding, until then it's all spin to keep investors on the hook. As for drilling "late 2024" - not a hope in hell imo
The stand out line has got to be "Reabold now holds £9.1m net cash".
More than the market cap...
Well this should put a rocket under the S.P.
Not bad news at all, but would like the other projects would get a move on. GLA.
Agree. Happy to see that. I invested here in part for the cash position so they put another teaser about excess cash to shareholders which I only want if they also fund the 2 projects properly but I would like to know a little more about that (away from the buybacks) when they can say more than "we may do that in the future" which is how I read it. Happy but keen to understand that cash distribution point better. Apologises if I missed that detail in the RNS though!
Excellent progress and sp should rise accordingly but also an opportunity to add or buying for new investors at a knockdown current sp.
Holding strong
GL holders
NVG
I don’t know if I should be appalled at been called a “Wired Liar” or
Euphoric with your statement
“Some of what you’ve posted over the years means that you’re definitely on the inside track or are closely associated with someone that is.“
I am a private investor, who is opportunistic in outlook, enjoys factual analysis, hates BB bullying or individual posters who clearly have a warped view of reality.
BBs are unregulated to the point where some posters exaggerate false logic for financial gain. They are easy to spot and to challenge.
Some posters who choose to spit feathers will get a metaphorical nail gun response.
I invested heavily at the outset of RBD as I bought the story. My book loss runs to £’000s which I deeply regret.
As you have searched my posting history you will see that I have commented that Victory sale was a very poor return, the value exchanged for Colle Santo was excessive and the demise of California to daybreak difficult to rationalise.
Paul1deano. I have been selling down my position as there are much better investments elsewhere. In addition the existing Directors should never have allowed their relationship to sour from “Strategic Investors” to disinfranchised minority shareholders.
I have positions in DELT, BEACON, UJO, LLOYDS and M&G for dividend yield. I invested in Adobe in Jan 23 at $336 due to AI noise and they hit $ 630 recently, falling back to current $560 pre Q1 results due 14 Mar. NVIDIA Is another I follow. Big winner with GKP following Jeremy Asher purchase for pence and sold at £3.60 ish 10 years ago ROI £365k. Flight to Zurich for board meeting and posted on III at airport resulting in 360+ post tick up. Ploughed £35k into SXX at 4p and sold 8 weeks later at 8p. Those were the days. Nothing to prove and no axe to grind.
These are not tips, and represent just a slice of a wider portfolio.
My altered ego is definitely not an insider at RBD
Jack