Reabold Resources Share Price (RBD)

I think the question as to whether Humber, a 16.7% licensee of WN, is cashed up and ready to rock with WN, has not been discussed enough.

The apparent delay with the EWT, WNB et al, is contingent on all parties ability to proceed and what options they maybe considering

Jack

RE: Humber Oil and Gas16 Nov 2019 09:25
Was it,

You might be onto something there.

We know Humber are on exactly the same WN farm in agreement as UJO. See UJO RNS dated 05th Nov 18

“The second significant commercial collaboration between Union Jack and Humber is the Farm-in for a combined 33.3% economic interest in PEDL183, where Humber has also entered into a Definitive Agreement on identical terms to that of Union Jack that will result in each of Union Jack and Humber acquiring a 16.665% interest.”

Humber have just filed their accounts for the Period to Dec 18, with £10k of negative net worth. See filing history 29 Oct 19:

https://beta.companieshouse.gov.uk/company/11117055/filing-history

We know Fraser Lang left UJO in a hurry back in Aug 19. The WN opportunity has left all parties scrambling for cash.

I don’t think any of the parties would carry the others, so they all need to be cashed up and in a position to proceed.

I guess Fraser Lang has a number of options with Humber. A cash raise for them, a share swap with RBD shares or maybe back the whole of WN into Humber and IPO.

I think the news void has a purpose but it’s irritating that we are left in the dark

Jack

WNN

I would like to know whether VG5 is still planned for Q4.

I would like to know how the two Burnett wells have progressed after being under constrained flow after the swab.

I would like to know how VG4 is progressing and whether the gas tie in has now updated the constrained flow

I would like to know if production has increased

“For the six months ended 30 June 2019, the cumulative gross production of oil across the California portfolio was 15,407bbls (7,703bbls net to Reabold), inclusive of production during the development and testing programmes. Taking into account gas production, the total cumulative gross production during the six months ended 30 June 2019 was 17,840boe (8,920boe net to Reabold). Total oil sales for the period were 15,141bbls (7,570bbls net to Reabold) with a gross value of US$1,010,000 (US$404,000 net to Reabold).

With VG-4 now on unconstrained flow and the two Burnett wells coming into production, we expect to see a sharp increase in production in the near term, with additional drilling to follow.

For the two months to 31 August 2019, the cumulative gross production across the California portfolio was 17,124boe (8,562boe net to RBD)”

I thought VG4 tested at over 1,000 bopd?

It seems like the zealous news flow has dried up being replaced by BRR. Maybe the boys have been busy elsewhere

Jack

Jack - I’ve read something more than that. Permeability and porosity both mentioned.

Might have been a UJO presentation.

“The West Newton A-2 well exhibits encouraging porosities on logs and in core, particularly in the identified oil zone where in excess of 30 metres with good matrix porosities approaching 15 per cent. have been measured. The core also exhibits natural fracturing which is confirmed by an imaging log run across the entire Kirkham Abbey interval.”

https://www.lse.co.uk/rns/RBD/reabold-resources-operational-update-at-west-newton-onshore-uk-uysr35lstgmqhx6.html

Jack

Evening All,

Not invested here but just dropping by from UJO.

I’ve just seen you’re discussing permeability. There was an RNS that said WN has, or is expected to have, good porosity and permeability.

I can’t remember where I read that but I have a feeling it could have been one of your RNS’s. You have more detailed in yours than UJO give in theirs, hence I read yours.

I tr and find that for you,

Best BWM