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Where did that 140 bopd come from? Not from the latest RNS covering California (Full year results), that's for sure.
You ask for facts, and when you get them you make up your own figures.
In my last post I left out the VG-6 well, which tested at 350 mscf per day ("mscf/d") and was put onto permanent production in Q1 2020. This obviously further increases RBD's income beyond that given for the period ending Dec. 19.
You seem to forget this was a period of bringing on new drills, so production at the end of the 6 months would be considerably more than at the start, so using an average would be ridiculous.
Circa 140 bopd for rbd is the answer from the latest rns on Cali
Could the answer be as simple as lending stock for short or long positions isn't that easy for RBD due to it's status with the likes ob Halifax as an investment fund so traders steer clear as they can't easily make an SP movement here a large percentage of the stock is tied in institutional hands I imagine spamming this BB wouldn't have much effect as we are predominantly seasoned and patient investors?
Isdeer, the latest 6 month figures available to my knowledge end Dec. 19, and state production during the period of 25,000 boe being RBD's 50% share, a gross revenue of $1.4m. There are a number of producing wells which increased production during the period and I believe this figure does not include any production from the VG-4 well which was awaiting tie-in to a gas pipeline.
The VG-4 well produced oil at rates as high as 1,029 bopd before being choked back and averaged 480 bopd.
Wressle tested at 710 uk barrels of oil per day.
Ujo owns 40% of that production.
Initial flow rate to be set at 500bopd.
Rbd have 50% of Cali, what were the latest numbers for production over 6 months?
I don’t think anyone even factors in California revenue!
It’s a very good think. Every drill has produced and they should continue to make cash for plenty of time......
Maybe the hype for Wressle, Seedcorn, but I believe RBD are already getting more revenue from California production than UJO will get from Wressle.
Could UJO be benefiting from the Wressle potential when it comes on line?
It seems pretty obvious to me the II's (those poor takers) who took the placing shares last October were in for the sale of West Newton Ponkey, not the flip. As it happens the share price remained above the placing price for several weeks after admission of the shares, so I think there was little attempt to flip anyway.
Since your here, good luck with your UJO shareholding. If I were you I'd sell up and buy RBD PDQ.
"Plonkey" as you like to call me was a shareholder here but sold up as saw RBD more as a "management/investment" company-a misconception but one I'm sure others have and I preferred UJO's portfolio to RBD's a personal preferrence and certainly not an US and THEM scenario.
On the question of share overhang it was in a context of a discussion of why UJO is moving and getting more coverage than RBD but I still believe there is an overhang as those poor takers at .90 did not have much opportunity to get out and the lengh of time bears (imo) no relevance
BlackHopper I respect your clarity of thought in the way you approach moving from one investment to another. With RBD I too have expectations that have to date been unfulfiled. I wonder if the approach of RBD basically as an investment company rather than an oil company (such as UJO) is the brake on sp rises here. I would very much like to see the sp progress in the manner you suggest. There is however 'many a slip twixt cup and lip'. I have seen on twitter (if we trust what is reported there) that those opposed to the WN site activities are starting to get vocal. I hope their activities do not cause delays and that Rathlin have factored in any containing measures that may be required. Have a great day.
Thanks BH. Good reading as usual. I concur about timing - my last 2 top ups (last Friday) were 3 days too early - I missed a 30% rise in the share I sold. £5k Aaaaaaaaaaaaaaaaaaaaaaaaarrrrggghhhh. But that's AIM I suppose.
'The stock market is a device for transferring money from the impatient to the patient', as Warren Buffet said (or words to that effect). I wish I could be more of the latter and less of the former. More like O2B@C!
Morning Rubey! I was out all day yesterday in the blowy wind. Something strange is certainly going on with the disconnect between RBD and UJO MCaps in relation to the percentages of the WN project they hold.
All the speculation about overhangs, Humber shares, forward selling... even page 88 of the annual report and other Percy wind-ups are all immaterial to my mind, if you take the longer view. When, and I should say IF too because this is a risky business, good news comes form either of the B drills and/or the A2 EWT (plus Parta of course) then those results will be reflected in the the RBD vs UJO valuations. This SP will adjust to reflect that.
The only annoying thing about the current situation is that by mid July I was expecting us to be at .75-.8p
I could have bought another share, made money and then still piled it in here at .6p
I nearly bought WRES at .15....now .25. So I could have had more RBD. This is always annoying.
But of the 10 or so shares I follow closely, RBD ( and one other) is now the obvious buy. I'm sure a whole load of other people can see this too. Barring immediate news, pressure will continue to build through July for the expected August newsflow and of course the excitement of the coming drills. They say don' wish you life away but considering life at the minute I could fast forward to the 3rd week of September ....;-)
Next news could well be the unblocking of IM-1. I believe the problem is very common in that type of geology but they will take samples first before applying the HCL. If it is what they think, the acid should do the trick and my feeling with ADX is that they know what they are about.
Low .6's imminent
posted RBD have 'a huge overhang of placing shares'. Since RBD's last placing was 9 months ago, would that make it the longest overhang of placing shares in history?
Some heavy ramping going on about UJO recently. Are the sharks circling preparing for the kill?