Member Info for grewber

So what does a 50% award mean in cash terms to Rockhopper?

Reduced my holding even at a loss , keeping SIPP holding for the long run. My problem is not cash in the bank and producing assets but management credibility. They have clearly known they had a problem with statements made in the June 18 rns for some time and have been trying ever since to get something out of the well to save face. In the end not a drop. Is anyone going to put faith in future preliminary well results?

MadCrann

I did point out that a side track was mentioned as an option in the upcoming drill (not to be confused with the actual side track of the discovery well). This upcoming appraisal well side track possibility has disappeared from more recent company communications and that was my point.

I hope that clarifies matters.

GLA

Goldigler

I am pretty sure whatever happens the Springhill will not produce at EMS-1001. Not because it cant, but rather due to the pressure related problems of co-mingling any production with the lower Tobifera. The result being is not practical to produce from both zones from an engineering standpoint. A success in the Tobifera will more than compensate!

GLA

In my experience charts are completely useless when come to stocks of this nature (tiny E&Ps). Essentially the price is event driven and the run up to events as now.

Rns quietly drops the possible additional sidetrack at Verbier!

Reabold is the only company with a strategy that openly declares they do not want to hang around, on discovery they will be looking to sell quickly. No other company offers that.
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bob
You say Reabold will be looking to sell quickly on a discovery at Wick. As Reabold dont own a direct share of Wick, what is it you think they will sell?

https://www.ft.com/video/86137a56-c43d-4ea1-929d-da9f9ec38fa0

Well worth a look at this video. Explains why oil prices need to be kept high for all producers including US.

Yes

Top of the share risers list by some margin today

GLA

More Jersey Oil and Gas Retweeted Equinor
Exciting news for #Equinor in the Norne field 50-70 million barrels recoverable oil reserves. See below article #JOG #NorthSea #Oil #VerbierJersey Oil and Gas added,
Equinor

@Equinor
50–70 million barrels more than doubles the remaining oil reserves recoverable through the Norne field. This shows that the Norwegian continental shelf is still attractive, extending the productive life of the Norne field by many years.

Recent tweet from JOG about additional resources at Equinor's Norne field. Not quite sure what the significance of that is to JOG?

https://twitter.com/Jerseyoilandgas?cn=ZmxleGlibGVfcmVjc18y&refsrc=email

GLA

Filtered 9005Nelson- he was giving me a headache

Reabold Resources
I’ve been out of the office since Monday visiting companies and taking in the Oil Capital conference and the interviews as above. I noticed that Reabold Resources had taken the advantage of the strong share price to raise £4.5m at 0.85p so this morning had a chat with Co-CEO Stephen Williams for a catch up.

The most noticeable thing about the raise, apart I suppose from the fact that it is at a premium to the last one, (a prerequisite for Williams and Oza) is that the pair’s former employers, M&G have taken £3m of the pot. With the very tight pricing showing just how keen the market is on RBD and a couple of existing major shareholders also holding their positions it looks like it was a formality.

The success of the company is self fulfilling, as the asset base performs and the shares rise RBD is now of a size to encourage institutional shareholders to invest which itself means that the company has more in its warchest with which to buy more assets. Speaking to Steve it seems that there are still plenty of deals around which come onto their radar screen and ‘balances the asymmetric risk/reward play’, indeed the early success of their Californian investment shows how quickly self-funding these deals can be. It has quickly had success, can become self funding and will prove, albeit with small numbers a very decent return on investment which can be up-sized very swiftly.

But back to the present, RBD holders can look forward to plenty of activity within the current portfolio as the Wick well is imminent and should be followed by the Colter well. With more success likely in California and the well in Romania of fairly high COS I can see the value of Reabold continuing to increase and reward shareholders.

shedful

I wouldn't take the sp increase on success figures seriously. The market dictates the sp and full value of any discovery is only realised when a subsequent deal is done to monetise that discovery.

With the acquisition(s) that this latest raise may gives us, lets assume, we have 10 near term wells. Even though each is relatively low risk geologically speaking some, maybe the majority will fail. Even with 3 being successful that will significantly impact our share price - by how much who knows. The point is that we are in for a hell of a ride now with the statistical likelihood of a decent return in the short/medium term. Isn't that why you invest on AIM?

GLA

I suppose Verbier could be changed to the first UKCS drill rather than third which would roughly preserve the current time scale of mid-late Q4. If I were BOD that's what I would be on the phone to Equinor arguing for. Another delay doesn't change the asset, as others have stated, but it sends the message that Verbier is not a priority and that does not bode well.

Me too. lots of chances of drill success on the horizon.

GLA

I agree with dick on this one. The drilling order has previously changed twice, (August then Nov / Dec 2018) leading us to be skeptical about the current Verbier drilling date. However, if Equinor change the schedule again JOG would be obliged to tell us and with the West Phoenix clearly preparing to move to the next drill I think it likely JOG would have been informed by now. The stores being loaded will be specific to each drill so it will be known in advance. Plain or Chocolate hobnobs for example.

GLA

Sono
Tugs are also resupply vessels. Difficult to drill wells without a couple of miles of drill pipe, for instance. Also chocolate hobnobs.

GLA