RBD - Enter now ahead of drill program23 May 2020 10:07
Everything is about to kick off here. Loads of news inbound on PARTA the Romanian asset and if that was not enough then there is WEST NEWTON which is potentially the largest onshore oil and gas discovery in the UK for 40 years!
UJO gets a lot of attention re West Newton & they are a quality outfit but let us not forget that RBD has the larger stake. Reabold has an effective 39 per cent. economic interest in PEDL183 and West Newton, via its 59 per cent. equity interest in Rathlin.
The run up to this could be absolutely huge and remember the price was twice and some in the first test of the location before they realised how significant this could be. I would expect this to be moving north every week from here and suggest others do a little research into Reabold Resources so they don't miss out on this opportunity.
Some further info to get you started.
1) Reabold have applied for the right to pay dividends to shareholders.
"will enhance the Company's ability to return surplus capital, undertake share buybacks and pay dividends to shareholders in the future."
2) Major shareholders & directors bought £24 million + of stock at .90p & above.
This means you we can currently buy and be in profit by the time they break even.
3) Drill statuses
West Newton A - We secured a permit variation from the Environment Agency on Friday 24th April 2020. This enables us to recommence our well test using a pumpjack (nodding donkey) and a smaller incinerator unit. Once the required personnel and equipment are available the testing operations will recommence.
West Newton B -Drilling of the West Newton B-1 well will commence following the completion of the access track and site construction activities and the conductor setting operations. (Drone footage has shown this is moving fast) and we are so close I hear the protestors are already camped close by.
Romania -Site preparations have commenced at the IMIC-2 drill site with drilling on track for Q3 2020 and Testing of IMIC-1 now expected to commence in June 2020 due to COVID-19 border closures
Corallian Energy -Reabold has a 34.9% interest in Corallian Energy, which has a 74% interest in a group of licences in the Wessex Basin. They have signed a work-sharing agreement with a "large European E&P company" that might lead to a farm-out of a stake in the offshore license P2478 in the Inner Moray Firth, Scotland, UK.
Reabold California ---> comprises three licence areas: Monroe Swell, West Brentwood and Grizzly Island. The California assets have a combined NPV of up to US$235m net to Reabold according to the contract operator (non-compliant). Very little is currently known about this side of the business and investors I talk to see it as a bonus or add on, alongside the other assets, but it is generating income or paying for itself currently.
4) Fully funded on all projects
5) Cash of £6million for acquisitions
I've run out of characters - spend some time looking at the company w
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