Member Info for grewber

Obviously, we cant yet know the value to RBD of the proposed sale of Victory but here's my take.

Based on the recent offer from Kristos to buy neighbouring assets in the adjacent Greater Laggan Area gas fields from Total.
https://www.energy-pedia.com/news/united-kingdom/kistos-announces-greater-laggan-area-acquisition-and-operational-and-financial-update-185673

In this asset purchase nestling among the gas producing assets is an addition deal for 25% of the as yet, undeveloped Benriach prospect.
For the Benriach prospect, assuming its developed, Kristos will pay $ 0.25 per MMBtu of net reserves - currently considered to be 638 Bcf gas.
So, it seems Kristos will buy 25% of 638Bcf = 159.5 Bcf @ $ 0.25 per MMBtu
Converting MMBTU to Bcf- $250,000 = 1Bcf gas . ( 1Million MMBtu= 1Bcf)

Victory reserves are quoted as 179bcf so using the above comparison the offer for Victory may be;

179 bcf x $250,000 = $44,750,00 or about £35,000,000. Of which 50% to RBd = £15,000,000.
I am aware that includes loads of assumptions and ignores many aspects, but at least it has a basis in reality.

Over to you.
Best Regards

Using the same metrics for Victory

I am a long term holder with both RBD and UJO. I intended to reduce a substantial holding in both during EWT but find the company now have a communication credibility problem. There are only so many times you can publish timelines and state imminent events and not meet them. With this RNS the EWT has gone from imminent to months away. I appreciate RBD are not the operator and ultimately rely on Rathlin, but there only so many times you can over promise and under deliver and retain credibility. One too many for me.

GLA

Permeability is a key metric, measured in Darcys and relates to how easily a fluid passes through the reservoir. Permeability is a major factor effecting the flow rate of the well. Lab tests on the core samples taken from both wells will have provided this data but as far as I am aware this has not been provided to investors. The fractures detailed in the core samples from recent presentations would provide secondary permeability, but again no imperical data. The key question is why?

GLA

feelinlucky

Can you point me to where you found the figures for permeability of 14%+. I have been looking for permeability data for some time.

many thanks

feelinlucky

Can you point me to where you got the 14%+ permeability figure from. I have been looking for this for some time.

Thanks so much

Just tried a buy too- no price. Getting interesting!

GLA

Many thanks GP - much appreciated.

Does anyone know if the Q&A session been published anywhere yet?

Many Thanks

Added a little more myself today. I think our time is coming. With regard to the lack of communications - what can they say ?
Until a deal is done you already know everything you can know.

GLA

Same experience- no live price to buy. Just had to put a limit order in to buy a few more at this price.

GLA

Reabold/Union Jack- 50 Shades of black.

The bears of West Newton have well and truly been burnt off this morning as the partners announce a ‘further significant HydroCarbon discovery ‘ with the B-1Z well coming in big time.

Every way you look at it the discovery is massively positive and could be the largest UK onshore discovery since 1973. The well encountered a gross 62m HydroCarbon bearing reservoir in the primary Kirkham Abbey target formation. Indeed, the overall column is estimated to be ‘at least 118m significantly exceeding previous observations ‘.

The key takeaway from this is that in my own view, the whole prospect has been de-risked by what is now effectively a 2.5km step-out. The second section looks like the first and has ‘evidence of good reservoir continuity’ so as it looks the same on the seismic it is one continuous reservoir.

This is backed up by the porosity numbers which at over 14% measured from log data across sections of the interval ‘comparing favourably’ with the A-2 well. In addition with no oil-water contact encountered in 118m this is unique.

I intend to write up more on both companies after I have had more detailed conversations with both managements in due course but this is a monster discovery by any measurement and it would probably be a commercial discovery offshore.

With RBD up only 20% and UJO 9% as I speak I think it is fair to say that the shares have by no means taken this find into account and they should both add meaningful market cap increases as bigger players get out the calculators…

Thanks for the dip. Got another £5k worth..... nice.

Thanks for the dip. Got another £5k worth..... nice.

https://www.*************.com/views/50087/deltic-energy-crap-offer-from-reabold-resources-sod-off

Looking good. Would be nice if an oil junior actually did something in the time frame they indicated. Longboat board planning their first aquisition in H1 2020 I recall. I am willing to accept early H2.
GLA

Yes wiltshire man you are correct. Well worth a view.

GLA

.....and watch a long interview with David Bramhill on Union Jack at *************.com
It will cost you 99p. Your investment in Union Jack will stand that!

GLA

O2B@C

Why would anyone buy Reabold at this stage, when they have no idea of whether WN contains any commercial oil?!
Until the EWT results are known and are positive, WN has little or no value.

Union Jack/Reabold Resources
The Carbon Intensity Study at West Newton rates the project as AA, the best possible, for carbon intensity for its potential oil production and incidentally are significantly lower than the UK average and even other onshore analogues. This analysis, by Gaffney Cline & Associates is very important in terms of the UK’s determination to focus on low-carbon efficient energy sources and shows how important West Newton is going to be, both these companies are incredibly undervalued.

Union Jack/Reabold Resources
The Carbon Intensity Study at West Newton rates the project as AA, the best possible, for carbon intensity for its potential oil production and incidentally are significantly lower than the UK average and even other onshore analogues. This analysis, by Gaffney Cline & Associates is very important in terms of the UK’s determination to focus on low-carbon efficient energy sources and shows how important West Newton is going to be, both these companies are incredibly undervalued.