Member Info for Alvernikov

The sooner the Corallian deal is done, the better. RBD will get 50% of the sale price. That should give RBD more than sufficient funds to drive forward the Dunrobin project.

"Firstly the bits we do know. RBD are paying what must be a token £250/- for six licences from Corallian of which four in particular have ‘significant prospective potential’ in addition to Oulton with its de-risked contingent resource, which seems like a sensible deal given that they are getting rid of a class asset in Victory for it.

RPS estimates a total Victory field 2C or best / mid case technically recoverable contingent resourced of 179bcf dry gas and as the field will be ‘economically developed as a direct subsea tie-back to the Total operated Greater Laggan Area gas pipeline’, which has an access tee for third party business located 17km south of the Victory discovery well 207/1-3 looks like a no-brainer for somebody. If, for example it wasn’t someone who had the best access to Greater Laggan I would want to know why…

Reabold clearly like Victory as they have said often enough, but they also like West Newton which means making a choice of which horse to back given the tall order of financing both projects. Their policy to ‘identify the optimal time to exit a project is critical to Reabold’s strategy. Doing so effectively will allow the Company to scale and deploy more capital over time’.

So, with bidders for Corallian only wanting the Victory asset and Reabold happy to take on the licences primarily to ensure the deal was consummated, it looks like it all works. RBD will get half the cash from the sale less the £250/- for the detritus, which I am reliably informed will rebuild the cash situation ready to spend at West Newton. All we need now is to see who the buyer is and how much Victory has gone for…"

https://www.malcysblog.com/2022/05/oil-price-igas-reabold-empyrean-sdx-gran-tierra-and-finally/?msclkid=89d77e9cd11b11ec852c42d9924c67d2

I do - that's at least the third time I've said that...and I don't mean on this BB ;) :)

Because whoever is buying Corallian is only interested in Victory

RBD owns 49.9% of Corallian - so money from the sale of Corallian and the monetisation of Victory will provide RBD with the funds to advance the monetisation of Dunrobin

For clarity on P2478 (Dunrobin)

Working interests:

Upland Resources 32%
Corallian Energy Limited >> Reabold 36%
Baron Oil PLC 32%

I think it's time to top up RBD as well as BOIL :)

Dunrobin not mentioned specifically, but there's a clear message that the 6 acquired licences - including Dunrobin - will be pushed forwards towards monetisation with infrastructure in place (on the back of work invested in Victory) and funds brought in from the monetisation of Victory, the sale of Corallian, and the California connection (transaction 10 days from now). Looks like we'll get a free ride on the back of RBD...

Onwards and upwards :)

My maths is pretty good, thank you very much...but maybe not at 23:10 on a Friday night .lol

What's an extra '0' between friends ;)

We really won't care either way if this becomes a multi-bagger :)

Imagine where it will go even just with rumours of a JV or buyout :)

Neither - it's 0.0053p /share

Joking aside, re a 660 bagger, if you include Chuditch and the fact that the two assets could prove to hold more gas than currently estimated, it's entirely possible (current market value of gas at $40+ /boe) that BOIL could be a 100 bagger or more. That's why it's worth the wait!

Careful, MisterPositive - anything more than a 660 bagger and you might be accused of ramping ;) :)

Sorry, folks - this should teach me not to do sums late at night ;)

"The estimated P50 prospective recoverable resource is 115* mmboe gross" - 115 million barrels of oil equivalent.

1 BOE is equal to 5.8 million BTU.

So that's 115,000,000 x 5,800,000 = 6,670,000,000,000,000 BTU

At $7.954 per million BTU that's $5,305,318,000 (not $53,053,180,000 as previously posted).

It's about 1 fifth of the value of Chuditch, $27 billion, if 3.4TCF of gas is accurate (EarlofAim's valuation at $58 billion is wrong - he's used the price of oil, not the price of gas!).

"José Ramos-Horta won the second-round run-off of the Timor-Leste presidential election with 62.1% of the vote in April. He will be inaugurated on May 20th and is expected to push for an early parliamentary election. Beyond managing the pandemic, the government will turn its attention to plans for a liquefied natural gas (LNG) refinery on the southern coast to receive hydrocarbons from the offshore Greater Sunrise field. GDP will expand by 3.5% in 2022 and 4% in 2023. The main driver of economic growth remains the oil and gas sector, which has been included in the national accounts since September 2019."

https://country.eiu.com/timor-leste

http://www.tatoli.tl/en/2022/05/06/australia-continues-to-support-tl-in-the-infrastructure-sector/

Try to get your head around this:

"The estimated P50 prospective recoverable resource is 115* mmboe gross" - 115 million barrels of oil equivalent.

1 BOE is equal to 5.8 million BTU.

So that's 115,000,000 x 5,800,000 = 6,670,000,000,000,000 BTU

At $7.954 per million BTU that's $53,053,180,000

I'll settle for the last 7 digits :)

...worth reading again for a summary of key points to look forward to over the next few months.

A farm-out for Dunrobin is looking more and more the most likely significant event...and soon.

Onwards and upwards :)

https://www.lse.co.uk/rns/BOIL/placing-and-subscription-to-raise-163165-million-hon725dxmedkqsl.html

"It is worth noting that the Dunrobin Prospect is located in shallow water, with shallow target depths and consequently drilling costs are expected to be relatively low."

"Reabold to acquire Corallian’s portfolio of six attractive exploration and appraisal licences, excluding the Victory licence, for £250,000"

"The licences that will be acquired are P2396, P2464, P2493, P2504 and P2605 (all at 100% working interest) and P2478 (36% working interest)."

"Reabold will become Licence Administrator but does not intend to become Licence Operator and will therefore SEEK APPROPRIATE FARM-OUT OPPORTUNITIES with third party operators following completion of the Acquisition, in order to de-risk and monetise the prospects."

"FOUR OF THE LICENCES in particular have significant prospective potential in addition to the de-risked contingent resources associated with Oulton, which we believe, can be progressed in a low-cost manner given, inter alia, the low spending commitments.”

Dunrobin (P2478) IS ONE OF THE FOUR and listed second by Reabold CEO, Sachin Oza.

"P2478 (36%)
The licence is located in the Inner Moray Firth and contains the Dunrobin Prospect. The primary reservoir intervals are sandstones of the Beatrice Formation and Dunrobin Bay Group and the reservoir quality of these formations in nearby wells is good to excellent. A potential secondary reservoir is provided by Triassic Lossiehead Formation sandstone.

The estimated P50 prospective recoverable resource is 115* mmboe gross."

That's a lot of dough at current prices, and BOIL have a 32% investment.

https://www.proactiveinvestors.co.uk/companies/news/981476

https://www.energyvoice.com/oilandgas/north-sea/408521/reabold-receives-offer-for-49-99-stake-in-corallian/

Thanks, Shouston. I appreciate your posts too. And HFB's posts are invaluable, especially to any new investors coming on board. So, any complaints about repetitiveness are baseless. Let's keep reminding ourselves of BOIL's massive upside potential.

The doubters and the trolls come out of the woodwork whenever there's a significant movement in the SP, up or down - and they have the gall to criticise well-informed, well-respected posters on this BB. If they actually did any of their own research, and had what it takes to interpret it, they would have understood for themselves what was happening yesterday and today. Like all good lemmings, they'll drop off the cliff one by one ;)

Definitely steer away from Black Scholes - your money disappears into Black Holes!

The stars are aligning for BOIL. It really is just a matter of time.

GLA. Have a good weekend :)

The MMs have laughed all the way to the bank yesterday and today. The SP was manipulated based on hype and speculation, not solid news. I could have taken a £20k profit yesterday but I'm in this for the long haul, not for a quick buck.

News could come next week, or it might be a few months away. I don't really care. It will come this year.

I'll wait, and wait some more...