Member Info for chrishutch

Reabold Resources Plc
Investment in Rathlin Energy (UK) Ltd
Reabold is delighted to announce that it has signed a subscription agreement with Rathlin Energy (UK) Limited ("Rathlin"), a wholly-owned subsidiary of Calgary-based Connaught Oil & Gas Limited ("Connaught"), to invest a total of GBP3 million ("the investment") for an equity interest of 37.08 per cent. in Rathlin, which is the operator of the PEDL183 license onshore UK. The investment is conditional on, inter alia, the completion of a farm out, by Rathlin, of PEDL183 to Union Jack Oil plc ("Union Jack") and Humber Oil & Gas Ltd ("Humber") (the "Farm Out") which will result in Rathlin retaining a 66.67% equity interest in PEDL183. The license contains the significant West Newton A-1 gas discovery, and the investment is intended, together with the Farm Out, to fund the drilling of an appraisal well on this discovery in Q1 2019.
Project Highlights:
-- Q1 2019 drilling programme, designed to test two high-impact targets
-- Gross Contingent Resource of 189Bcfe (31.5Mboe) assigned to the West Newton A-1 gas discovery
-- Gas appraisal target with an estimated 72% chance of success and gross NPV (10) of $247M*
-- Additional future upside from the testing of the reef flank Cadeby formation oil prospect, with gross Prospective Resource of 79.1Mboe
-- Cadeby oil exploration target which has an estimated 24% chance of success and gross NPV (10) of $850m*

looks very promising, still digesting but watching them buys flood in, is nice.

I suspect we will get further news this week too and we should see the price start to take off from here.

A multi-bagger opportunity here.

Lots to be very happy about. Share price is moving around on low volume but with only 1 mm holding it back, we might see the end of the sub .75 stock and the move higher we have been waiting for.

Also with rig demobilsation and hand over soon to be taking place, and further news of potential acquisitions/investments to be announced we might get further updates sooner than we think.

Is there any other company out there with this much lined up and such a low current valuation. Load up in my opinion before it is too late.

Well done!

I hope it rockets for you, and us.

http://www.baronoilplc.com/docum/BO_presentation_final_291018.pdf

http://www.baronoilplc.com/docum/BO_presentation_final_291018.pdf

Hi Simon, my understanding is the rig is returned to Hartlepool/TEES and then handed over to us. So just because it is going north at present does not mean the drill is decided, it is still very much open. I suspect we will know which way by Monday/Tuesday.

Hopefully, the price here will be much higher - when it is announced.

fair play Simon, it did look like it might be on its way to me. I figured Hartlepool/TEES and then when it saddled alongside the Zeus of Finland pilot which had a TEES destination I thought the odds increased. However, I accept I am speculating and others know more about Marine traffic.

Has to move UP soon, for the price to be 0.725 is laughable, considering what the larger players paid and how much is in the pipeline. I cannot for the life of me work out why we are sat here but we are.

The only market I know where there is a 'SALE NOW ON' across the board and folks don't snap up the bargains. You will be kicking yourselves if and when this motors back up. When news arrives the opportunity will be gone, so I am giving RBD a strong buy.

you think that because of the applications?

Status:
Pushing Ahead - Towing

We look forward to updating the market on our progress in the near future.

I only bought some more because I think the upside from here is worth the risk

I took some more too, seems a rush to get them at present

seems lots like it at this price.. I would have too.

there was no 11.6 million sell on Friday? maybe the total buys and sells volume for the day, was 11.6 million.

took a few here,

Other posters comment:

If you look at where the Brage Viking is currently riding stationary and where the safety vessel Glomar Alure the red mark about a mile away are located it's a reasonable guess that the rig is between the two. The rig does not send out a signal.

Showing up from yesterday.

motoring away now. https://www.marinetraffic.com/en/ais/home/shipid:156984/zoom:9
10.5 kn

As I said dont know much about marine traffic but the ship I spent most of last month on was doing 25 kn and we were flying. haha it should be in GY in no time