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Totally agree... £23mil market cap is laughable considering we own 50.6prct of WN (through 16.67prct direct interest and 51 percent indirect interest in Rathlin who own 66.7prct of WN)

If anyone hasnt already , please please please listen to Sachin and Stephens West Newton interview from yesterday.

Explains the challenge they had with B1Z well and the learnings they taking to A2 well. The market has factored in a B1 Z well duster - but that might not be the case if the pressure builds up there and flows.

A2 will have alot of focus now on the results there , but just rememeber this asset was valued @ $800mil NAV not long ago on back of A2 result alone.

Any proved recoverable bopd / mmcf etc , will increase that significantly.

Considering RBD has near 51prct of WN , 23mil mark cap , no debt and still has over 50percent of Corallians assets with an existing Victory Well worth £50mil alone to RBD....it staggers me why we sat here and a rerate will happen big time if A2 is a success....any success with B1Z well will catapult it further as market is not expecting anything back from there now.

gl all
IT

Doubt it

I dont believe a word BMD says, many times he wrong before

Called a duster some weeks ago that we left the site and it was anything but. Tried to weasel his way around it.....he just tree shakey here and i have topped up more

I think alot will be surprised here , even if they are abit frustrated with the time it taking and lack of news...we only 3months into this test guys...sometimes EWTS take upto 6months.

I'd rather they be careful than rush it and fek the well up like happened @ A1 many years ago.

GL whatever you decide to do

Look at others like BOOM. They went down to like 100p and then started retracing until offer of 1200p come in recently.

Patience will be rewarded. Yes its taking long , but considering the scale of this sale , decisions cant be made likely and alot of due dil needs doing especially as we dont have a full flung mining operation in place yet , we're just running a small operation to date.

That been said , the highlight in todays RNS cannot be understated, the exploration of a JORC on our PGM base is essential for the market to wake up and also for the current bidder to have some confidence in what they negotaiting on (might even improve our negotiating position).

I would not be surprised if the bidder said it is willing to offer more if a JORC done, so you cant blame the bOD for doing that.

Lastly , dont forget why you invested here. If you researched this and follow the EUA cultists (compliment intedned) on twitter like GM78 and others , then you know we have grown so much since the sale news even started. I recall our asset base starting with 1.5moz...then went to 14 and then 40moz and now is way over 104moz with the Rosgeo JV.

Yes, a degree of sceptism from the market will be there.. but mark my words, once the JORC lands, there is a seriou rerate coming.

Next update would be really nice to know how revenue we getting in now from our small opertaions so folks can relax about any more dilutive placings and such (not that we need any money right now with likely a few mil in the bank from last $20mil raise)

So have a good night folks and tomorrow lets see if we can at least get back to over 16p....molehills before mountains.

Agreed, I do hope that positive news is due and then lets see if these lot pipe up

Yes, RBD is frustratingly slow...or rather , Rathlin is frustratingly slow , to get this well moving / text etc.

If they deliver on commercial flows , lets just say its gas only for now, the market will react and rerate this share significantly from where it is today.

Even if the result isnt commercial (and lets be honest there is a risk of this still) , then the affect to SP will likley be a 50% drop

So 3 bagger min for success, versus 50% drop...well worth the risk for me here and happy to HOLD

Also, i aint even taliing about Corallian stuff that is worht more than the market cap already ....but conscious we need an IPO or JAV farmout there, i havent put a value in the NAV i feel is here for RBD right now

Keep the faith everyone and dont let these anti-westneewton folks get to ya

Yip , onwards and upwards.

Pity its taken this long since 2019 , but patience is a virtue

lets see what the week ahead holds for us all

I disagree as RBD have doubled their interest in the WN asset through taking out Humber 16.67% stake and increasing stake in Rathlin from 37.5 to x giving overall direct+indirect interest of 56% of the asset.

Additional , we have since drilled WNB and found more oil and already have approved for 6 more wells.

The logging resutls will be a start and IMO test previous highs of 1.2-1.4p and maybe more.

the real game changer is the EWT as nothing matter until you prove how many BOPD or MCF you can pull out the ground.....you have ahvae 6billion barrel reservoir and if pulls only 500bopd , you wont see the value of the oil in ground in the share price.

RBD is well undervalued right now @ 67mil market cap. The loggin results + EWT thereafter will open this up significantly to further invesment and possible the majors sniffing around (if not already) for taking this off RBD and partners for maybe circa $1bil ? who knows.

Anyways, this is staying in the ISA as long term hold for me

GLA

Check out MODE. Also so happens they popular share on AIM

What about #OMI in the mix ? AAL has a 80% buyout clause on the Aussie asset OMI getting great results on , so could be that maybe ?

anyone's guess

Yes , but realistically ARB will continue to rerate to 300p for rest of week if BTC hold above $50k

Just piled in. The fact the ceo stating world class and that AA have a 80percent buyback clause , sets this up for a very high chance of success of major asset sale imo.

Glad to b aboard and target exit after sale is 30 to 45p

Gla
It

this is an interesting theory. He'd still need to find £12/13mil to bridge the gap though.....wheres he gonna get that from ?

Leading theory is the shares he sold that was align to VGH...possible conflict of interest and they tidying things up to support the FSP/DFS.

Eitherway , tomorrow we will be back to previously levels i reckon....25p minimm

Ah gard that last sentence spat me coffee out! totally agreed on everything else

Defo will get to 1p IMO post EWT easily.

Remember , RBD has hit a high of 1.44p not long ago after first success at WN-1.

RBD is ridiculously undervalued.....the recent NAV on the Corallian asset we have a indirect stake in is alone £50mil GBP! and our market cap is around £50mil now.

West Newton is the jewel in the crown here , always has been.

What they do with the asset after the EWT is anyones guess....a Major might come a swooping in , but that will take months for an asset sale , but it will be very very lucrative to all West Newton firms(RBD/Rathlin/UJO)

Worst case, we develop and monetise the wells ourselves and take some nice production from the wells.

I'm looking forward to what else RBD is focussing on as would be nice to have another project like any of the corallian blocks seismic or drill plans.

Also have our Romanian bits , but i think that has died out now since the last uneconomic well.

Anyways , 1p is almost certain in my books...I am aiming for a 3p target here with current affairs

all the best

HI all , reckon the rise of late could be related to some serious consolidation in the industry. Amazon just bought Wondery for $300mil.

Audioboom is cheap as chips in comparison and i wouldnt be surprised if we get an offer in the next 12months

UJO would be silly to sell at this point. Better to hold off until after ewt is done.

That been said , if they got RBD shares in return , its win win really

Still I cant see this happening

Irresepective, RBD has 56% of a probably a £800mil NAV asset in West Newton

It staggers me how under appreciated RBD is in this market versus other oilers.

With todays news , we have confirmed a significant reservoir 2.5kms long from A1 and A2 and importantly both oil and gas encountered.

Whilst today's news hasnt spiked the shareprice as much as some hope , dont fear as i am still a strong beleiver that the flow rates is what will really get the market to wake up.

Now, this EWT might take anything from 3-4months , so prepare that the SP may yeet drop to 0.40p again before we get the EWT news.

Longer term , i cannot see RBD or the JV holders here holding on this asset....BP or Shell will come sniffing around for a buyout very very soon.

Either that or if we get the near offshore block near us , then a lucrative farmin deal with said partners.

Whichever way you look at this , i am holding this thighter than a locknut for the long term

well done to all faithful rbd'ers and we'll speak again with the next news

GLA
IT

I was in this share a while back and sold out shortly after the fiasco at the well we supposedlu had a 500m column on that turned out to be water!

No i am seeing we sold the only other prized asset taht was Tapi Aike!

So what does ECHO still have ? i am hearing some producing assetss? but what is the bopd there ?

be good to know as considering re-investing here as £5mil market cap for ECHO seems crazy

thanks

Months? You mean 3 weeks as deadline for firm formal offer is 12th August

Well Done Ttso , profit is profit at the end of the day
I could sell out , but fortunate that I dont need the cash and i have no other shares with more exciting news than EUA , so best staying put.

Like you lost on the whole James Parsons dream boats of Sound and Echo. Also lots a massive bundle on Range Resources( now Star Phoenix Group)...what a nightmare that was from £500mil market cap highs to current £2mil...unreal.

Anyways , i am good now and made all my losses back with some profits and very fortunate to have found EUA when was peaking 1p levels and ploughed myself and missus into this.

All the best with your investing future and your remaining shares here