Member Info for Investor_Tester

Persi / Cloves / RNS Translator - can we give it a rest now ? I know you are both passionate about your points, but you flooding the BB here with heated arguments and finger pointing , doesn't educate anyone.

let me help everyone out , this is a summary of where we are =

- All time low sentiment / lack of confidence in BOD to execute and drive shareholder value (can change if WNA/B somehow flows some commercial volumes- however slim that is)
- Market cap is ridiculous if you consider = we have $1.2mil per annum of net revenues from Calfornia ; we have £6.3mil in the bank ; we have 53% of West Newton project (it aint worth nothing even in event of no commercials flows) ; we have 49.99% of Corallian with Victory well alone worth 84-120mil GBP net to RBD and due to be reentered in 2022 if FDP goes well ; we have a share of Danube Petroluem - but its small in scheme of items above. ; we have 3% or so of DELT (seems alot of you forgot this! that 3% worth around £1mil GBP. (a pity that merger didnt go through last year for us)

All in all , £14mil market cap is pants for what we have / granted all the less than good news doesnt help.

So , they way i see it , the BOD need to come out with a very clear statement of intent now and perhaps even the BOD investing some of their hard earned cash post WNA final results.

We also need to evaulate other projects as clearly our stategy hasnt work out that well so far (with exception of California that is actually generating some cash)

I reserve the right to change my view if WNA comes up trumps , but gotta say the confidence is low with all that has been share so far

Lets discuss some of these items constructively now

Thanks
IT

Good shares there JimmyBob

The way i read that - WNA did flow hydrocarbons to surface, but no sustained flow rates = no enough for commercial production

BUT , they are exploring initiatives with engineers as to how they can stimulate better flows = commercial production

As malcy put it , the formations are sensivitie to water injectio....other possibility is building pressure up in other ways to encourage natural flow.

Mr Market took all above as a duster....so anything that turns this around, even if the bopd is less than 1k bopd, will be greatly received.

PEDL183 block has 2 other prospect areas (that upto now i wastn aware of) and i am glad they listed them in their revised CPR yesterday.

Ellerby looks to be the next best one to go for , but hopefully we can get WNA2 sorted first.
£14mil market cap
£6mil in bank
fully carried for WNA2 testing and Victory FDP submission
Confirmation no placing coming

I've invested enough and want to see some better positive news before i invest more, but i wont be selling at these levels.

.... What would also do wonders is if the directors actually bought more. They did this in Jan/Feb 21 and that helped the sp recover , so why not do it now to show that they are confident in this company ?

Hey Ruchillrover , definitely credibility and confidence is the issue right now

Listen , things can and will go wrong. I think Sachin and Steve need to re-assess what we have and focus on the absolute best candidate activity next (like Victory re-entry if i think of current estate).

But that is likely not to happen until h1 2022 post FDP approval...maybe i'm wrong , will have to see.

Everything hinges on WN activities now til the end of the year. If we come up dry , this sp is gonna get killed , if we get something commercial then sp will recover (and the % increase of sp is dependant on flow rates)

All in all , i dont think many of positive right now as all very anxious about the finalisation of the EWT and that result.

I am expecting that this will complete before end of October. If it doesnt, it spells bad news in my opinion.

Best post i have seen in a long time , thank you Genghis15

I agree wholeheartedly with all your points.

The reason the sp is where it is is because of failure to deliver on alot of aspects. For those wanting to point out WN isnt a failure, to the market it is as no one cares if 400mil barrels of oil in the ground if we cant get the stuff out commercially. I genuinely hope that they spring a surprise on us that it does , even if 500bopd.. (got excited when b1z acid wash was doing 8k bopd...but lets reset expectations to someting more reasonable).

We need something positive to lift the sentiment now and nothing but some commercial flows will do it at this point. Even the Victory FDP wont make a massive impact in my opinion.

you just have to look at another company that had similar issue - i3e energy

they too had lots of promises and discoveries and never got folowing (Liberator etc)

But what changed for them was buying and increasing production in producing firms.

The shareprice has grown 5 fold since that low point , a perfect example of how to regain market faith and run a better business that isnt dilutive to shareholders in absence of income.

Yes i know we have Cali asset , but we getting penauts from that and i would rather we sell it and move on.

We need to purchase a producing asset / company now like i3e did and then perhaps we can turn this dog around.

If we dont, as many fear, while we have $6mil in the bank , that will erode quickly for whatver drill we do next and then what ? placing is likely to come as RBD wont find the finance elsewhere.

As a shareholder , i genuinely hope things turn around , but i wont be buying anymore until i feel the sentiment is changing and the BOD are making the right decisons.

GLA
IT

OK , understood. But Rathlin is full funded (as RBD confirmed) for the WNA extended well test.

As to what they do after that , of course Rathlin likely to need more money for funding development of said wells or return to B1Z well is pressure has built up enough etc etc.

What i can say is , in the event of success at WNA , there will be a massove rerate and also dont forget majors will be swooping in and clammering over themselves to get a piece of this and puts Rathlin and its partners in a fantastic negotiation position.
The inverse is true is WNA2 is a dud.

So yes , placings are normal , but i cannot see any of that being done until WNA2 news is out

thanks for debate on this persi/rnstranslator.

Have a good weekend

Persi , you havent answered my question on RBD board on this - why you think placing is needed in RBD ?

RBD has £6mil in cash and is fully carried for West Newton work and Victory FDP.

So please share why you think placing is needed ?

The only small chance of what might happen , is RATHLIN (not RBD) will do a placing and RBD might take that up.

Beyond that , i dont know what other reason placing is needed.

please answer my question

Why do we need a placing Persimmon ?

We have £6mil in cash

Yip....directors need to show commitment here as only £750k across that list of our £15/£16mil market cap

I've seen other oillies having less volatiity if dierctors own at least 20% of the overall. Now is as good a time as ever to buy considering the poor undervalued state here.

I genuinely hope they buy in coming week or so to show some commitment they too see RBD as well undervalued.

Almost ceratinly the reason for delay could be the council deferring to legal advice in the background - what are the consequences of this refusal ? what are our chances of appeak being rejected (very slim according to the Councils own legal rep in meeting yesterday verbally saying so). What are the costs to East Riding Council in event appeal is won by Rathlin ?

The last two questions answers are key , it could very likely happen that they might not pass through the refusal motion based on financial impact of forthcoming costs liable to Rathlin ( oh and least i forget losing all the goodwill from Rathlin too on supporting comminuty funds etc etc)

So yeah , interesting times....get the popcorn out :)

No placing neeed as have £6mil cash in the bank pal - read the latest results.

So 0.15p = so £14mil market cap
- we have £6mil in the bank
- we have circa £1mil per annum in revenues from California (not gonna bother with what the NAV is on the assets too)
- we have 49.99% of Corallion , which of its many assets, Victory well NPV10 valueed between £85-£146mil (circa £42-£73mil net to RBD) with expected Field dev plan to be completed before end 2021.
- We have 50.8% equity of Danube Pteroluem (romania) which owns 1005 of Parta license with 1 drilled well and 1 prospect - anyones guess on the £mils there
- And last and by no means least , we have 56.3% combined interest of West Newton , of which last was valued at £615mil NAV after WNA2 firs discover announced. so £346mil NPV to RBD.

Agreed that all of this means nothing until the assets are proven to commercially flow and only 1 of above does (California).

Can you imagine what the re-rate will be like should WNA2 come good ? We are talking massive multiples from here.

Even if for whatever reason WN doesnt happen, we still have Victory to look forward to and the many other Corallian elements as likely they will go IPO or get taken over if Victory comes good.

I know been said before, but we are looking ridiculously cheap now at current levels. Min we should be 0.3p at least even with the bad news today.

Well , i am holding a tight fist on my millions of shares

GLA
IT

Probably for the best then , lets see how this unfolds as i think the market will possible price in this dragging for a long time.

That been said ,i am more interested in actual progress in WNA2 now...hoping we are on track with well test there for end of october results.

the timing of success there, could be useful for RBD on this field development appeal

I agree Jimmy ,

I think Rathlin needs to go back to drawing boards and weight up the costs of doing the connection to pipeline , with has overwhleming support of the locals already.

widening the roads for the horse riders and other bits to accomodate the HGVS will be alot more expensive i think.

sorry for poor spelling. I listen to the whole debate and some valid refusal was made

some councillors supported if was just the 2 wells , but said the fact they want to get this to 8 wells would create way too much impact to the local community / roads etc

I would tend to agree...

Now lets get WN2 flowing and then we can decide what to do next , but this aint gonna be and easy one to win over the locals longer term

was quick overwhleming refused , bake to the drawing boards Rathlin.....lets see how SP reacts

sorry whats interesting about it ?

Mr Market pricing in uncertainty with tomorrow's big event with council.

<£19mil market cap for RBD is rdiculous now. Would be good if directors bought some here to show some confidence , but perhaps they cant as within 30days of potential news which would be considered "insider trading".

That been said , UJO isntmoving a needle and just shows that RBD needs to up its ante with PR again to get this one back to realistic valuations.

Alot of investors holding tight , as any negative outcome tomorrow , will see this sp drop and knowing market reactions, likely be heavily oversold. Which would create a fantastic opportunity to average down.

That been said, confidence in RBD is low right now, mainly down to the B1Z well results. I sure do hope they have learnt lessons and dont rush A2. We need to do it proper so we can rise from the ashes here.

As with many , i have been long time in RBD (since 2018) and was very happy with A2 result back then which took us to 1.4p highs.

The same can happen again, but only if Rathlin doesnt make any fowl ups.

So , tomorrow key event that will swing the sp in considerable fashion either side. Some may sell today , some may buy. each to their own.

I for one an holding onto the fundamentals here...as £19mil market cap with no debt , small cashflow (from US) and £50mil NAV with corallion Victory well....seems stupid here right now , even in the event of council meeting going south.

So yeah , keep your tin hats on all , next 48hrs will be interesting one

GLA
IT

Oops -correction header meant to be £19mil market cap for >50% share of $800million NAV asset

the market is massively undervaluing RBD here. UJO , with its larger following , seems to better judged , granted they have had some good results on Wressle of late , but even then , RBDs share of WN is nearly 3 x fold what theirs is.

Market is factoring in a non-approval on 30th Sept , so should that turn the other way , i beleive snetiment will return this to hopefully at least 0.2 -0.3p at least.

Then we have the EWT @ WN A.....Persimmon , you can shout as loud as you like on this is dragging forever, but you need patience in this game as a company maker is not made overnight

And also dont forget, RBD is all about monetisation of their stakes in firms , not being an operator themselves.

The milestone i see ahead are =

1) 30th Sept Planning approval/disapproval
2) WNA EWT results - October 2021
3) FDP for WN (we already know they have consent to do upto 6 wells in WN A , so if EWT successful, you can bet your bottom dollar they will be putting significant effort into getting them wells drilled and flowing to increase production . FDP probably before YE 2021
4) Drilling rest of wells (said in preso yesterday around 14 weeks to complete) - likely a H1 2022 jobbie.
5) At any time above , a major could come in and take us on the reletaive cheap (even INEOS maybe)...but hold that thought

For me , i'll be honest , i am waiting on 30th Sept and the EWT for WNA before making decision on future of my investment here.

I know its not easy looking at a dragging SP , but just remember the fundamentals here....and i havent even included anything related to Parta / Romania or our wonderful Corallian stake (with Victory well already lined up for re-entry for easy re-appriasal and valued at £50mil to RBD alone!)

So yes , tense times in next 48hrs, but should that be approved , then its down to EWT in WNA and if successful here , i am sure everyones thoughts will change dramatically.

Ps.. full disclosure, i am a shareholder and have millions of shares with lowest average 0.5p through to 0.7p across multiple trading accounts.

GLA
IT

Exactly , this £11mln raise is to get Dmitrys mates on board before the big news inbound. Saves them buying from th market and causing SP spikes (like we saw in last few weeks and almost certainly got a few oligarchs interested in ploughing in)

So yeah , derampers can say what they like ,but that will be shut up AGAIN in 4 weeks i reckon

Holding tight on me rum tickets for the big ship party underdeck for all EUA holders only!