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Colter will be sold, but it'll only happen when the full technical analysis and reservoir modelling of Colter North / South , the adjacent on-shore blocks plus the new blocks 98/11b & 98/12 is completed as a whole. The new blocks contain 30% of Colter South and the offshore part of another prospect within their onshore blocks. These new assets were only acquired a couple of weeks ago and i'd guess still going through legal/commercial completion.
Once that technical work is complete, they've got a vast chunk of acreage they can market as a complete block with all the discoveries ringfenced. They can't do that currently.
dan1nat1 - I think that the tumbleweed answers that one :-)
Which asset do you think we have added enough value to that we should sell?
We have yet to see RBD divest themselves of any assets which was there unique selling point.
A bit early for that aj
The strategy is to sell when the market improves. Theyve said repeatedly it’s still a buyers market. There’s still bargains out there. Not the time to be offloading assets cheap so others can take advantage. Why would they bang on about what a great buyers market it is and how many great undervalued assets are available to snatch up at bargain prices then flip to becoming a seller. It doesn’t make sense. They’ll sell when the time is right and not before and I’m happy to wait.
I think RBD are going to increase their holding in Rathlin. I think that RNS was to reiterate that when they bought Rathlin it was AFTER Connaught had done the CPR and WNA1 was already a discovery. They will want to head off any accusations of insider trading and buying more Rathlin because they know more than other competitive bidders. They want to inform the market that it was always a discovery and nothing underhand is going on. As i said: clearing the decks to take more of Rathlin.
Unfortunately we won’t be the only persons looking at a piece of Rathlin. But that’s fine. Just a matter of sitting and waiting. Personally a big player could take us all for 3p a share and that might convince our two chaps to cash in the chips. Interesting times ahead.
I hold ujo and rbd,very happy with both.Will rbd increase their percentage of Rathlin ? Perhaps, but if they do your talking big money now. Going to become very interesting. Gla.
Dan1nat1,
UJO and Humber had formed a commercial alliance to exploit onshore UK Oil & Gas opportunities. They dual invested in a number of plays including WN at 16.665% each, with Rathlin retaining 66.67%.
Clearly due to the unfolding news at WN and the significance of what may play out these two entities have had to put some space between them. With both UJO and RBD being listed and Humber & Rathlin being private, I can see the immediate opportunities even before we look at other 3rd Parties.
They pulled out 28m of core samples from a net 65m hydrocarbon saturated interval and have stated that "Volume expectations will be updated following further core and log analysis" I took that to mean that the CPR from 2017 of 189 Bcfe of gas equivalent from which the NPV is calculated is significantly under egged considering all the Data Points were exceeded.
Then we will have the EWT.
I think Fraser Lang exiting UJO is all good news, especially the timing !
Jack
I’m not in UJO either, but as Humber have a stake in WN I am interested in what goes on there and UJO.
Couldn’t care less about what’s going on at UJO. I’m not in it. Don’t buy manipulated pump n dumps. The usual suspects are working in packs in UJO already. They are currently pumping it with fantasy chatter of a BP takeover, until they sell out then they will start gobbing off about a placing before flow tests. Rinse n repeat. Happy in RBD. Not touching UJO. I just read their ******ed rubbish for entertainment.
I am intrigued by Frazer Lang stepping down from the UJO board, not sure why he would do that at this time...I don’t buy the devoting more time to Humber line.
Are Rathlin currently in the Dragons Den negotiating with Sachin and Stephen? Very strong but here. Expect news of RBD increasing their interest in Rathlin.