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Exactly Mike...don't forget NO Debt either!

I know the sp drop is mainly down to West newton test being suspended end of August ( by looks of it...due to complaints about smells again from locals and EA probably out pressure on Rathlin)

Rathlin did say they have sent what data they had thus far for analysis and hopefully we should get a interim test report.

That been said, we also now have IM1 testing due to complete before end October.

Also next drill in US could be announced.

So news will be coming this month and who knows what other things Sachin and Co have under their belt to act on

Gla. ..we've been here before and rebounded so I stroll belive will happen again. Least we forget II investors ploughed a lot of dosh in us at 1.1p

Couldnt agree more....FLOW RATES is what is KEY here for a massive SP re-rate. Yes of course the oil shows are encouraging but it really comes to have fast we can get it out the ground.

Til then , dont expect the share price to multibag as that would be unrealistic.

Heres to Red Deer and Gazelle next hopefully and of course the flow rates on Heron asap

cheers
IT

Relax....why you all in a panic....just look at the trades and it wil tll you something fishy going on here.

We wont hear about either drill til mid Sept at the earliest in my view....

Just remind yourself of the 4 drills we have going on and if only 1 comes in , this sp will be well north of 10p alone.

GLA
IT

top research that and at very least i see a ramp to 60p coming on spud news imminently. Therafter in 30days for well result of whether or not oil there and cements case for Liberator production well development at later stage.

All this with 3 more wells thereafter , all proving up the field and the 20k bopd they feel is easily achievable.

I think they might still go seekign JV partner after the pilot apprisal wells so they can ramp production even higher than 20k bopd.

All IMO , but whichever why it goes , this is a rare share that hase very little to no market/PR exposure right now and once it catches wind , the sp will be entirely different.

GLA
IT

Rough maths. ..I work our direct stake in rathlin will be over 40prct (from 36)and in West newton indirectly over 30prct (from 26prct)

Once papers receive in writing. ..will be above 8p easy. Loading up more now

Not only have the BOD got this sorted I short time, but are looking to make headway with the highest cos well.we have with making up lost ground after delays.

Great result

Definitely agree. Unfortunately the volume here is very very low (not necessarily a bad thing)

So the bots have to make the market and buy and sell between each other.

Just realised that this next well named after our CEO Mike Heron...is it pure coincidence?

;-)

U having a laugh right? Rbd has larger stake at 24 prct to Ujo 16.7prct and Rbd has a Romanian drill near spud targeting double the bcf West Newton had....what else UJO got (don't mention them other UK sites that in limbo...give me substance)

If anything UJO is catching up to RBD with its rise. UJO will top out 0.28p and retrace as Rbd has done from 1.35p earlier this week to 1.31p today

Longer term I love ujo prospects.but Rbd has a lot more prospects bother very near term and long term that simply squashes your argument that Rbd investors coming here.

Of they do that...I won't mind as will top up more on the cheap

Watched this from 5p...then told me share mates we need to get in 7p...and finally ploughed in today so a proud holder of Petro Matad shares.

Was in this share years ago and sold shortly before the first duster they had ( circa 130p)

Read the latest preso and for heron alone this is worth investing in. Red deer and Gazelle bonuses a d then the big expiration in Block V with them dinosaur names Velociraptor. .what's not to like with names like that? ;-)

Cheers and speak again soon Matador
IT

One has to ask why the JV partners mentioned they want to already look forward to WN B site for which they alreayd have environmental and planning permission for 2 drills.

Future is bright for WN alone....not to mentioned Parta , Cali and who knows what else they brewing up!

GLA
IT

Exactly what i was about to add....unlike UJO who have direct interest and have to fund extra work , RBD is indirectly invested in Rathlin (who own 66.67% of WN)....

if anything Rathlin the ones who may need to fund the well test (unsure of their cash position as provate firm)

Could even be opp for RBD to take further stake in Rathlin to help Rathlin with well test funds...and RBD gets larger exposure to WN than current 24% at the mo

interesting times...lets see what happens.

Apologies , i just seen the UJO RNS now and indeed they raised £2.25mil oversubscribed placing @ 0.17p to fund extended well test.

Would be nice for RBD to confirm they dont need to do the same...as uncertainty on that as current is probably having the impact on sp as we seeing as investors fearful of discounted placing.

I know we had like £5mil cash on hand , so should be able to use some of that to fund it if indeed we need to even.

hopefully someone can clarify soon

really ? i thought UJO said they fully funded for the drill and testing for WN ?

perhaps if you referring to the WN B drill...then you're argument carries some weight..

equally...the sp here shouldnt be dropping as RBD has enough cash and if we getting larger share of WN or Rathlin , then should have a rebound effect

something more ominous going on

Agreed. EWT takes between 4 to 6 weeks sometimes longer...the longer it takes the better as more accurate results

The partners in West Newton are =

Rathlin 66.67% (36% owned by Reabold Resources RBD)
UJO 16.67%
Humber energy 16.167% (private company)

Hope that helps

if that is true , production casing is never installed on a well that hasnt got a chance of commercialisation.

Obviously the tight lid on news is not helping nervy investors , but its helping me load up more , so who's to complain :P

16% of 75prct chance of success $247mil USD GAS target and 25prect chance of success of $850mil USD Oil target in West Newton!!!

Only Gas success = £30.4mil NAV to UJO
Gas and Oil success = £135mil NAV to UJO

and we £11mil GBP market cap today....massive massive opp even with the gas alone!

GLA as i am hoping news next week hopefully

Mmm , morning post got removed for freely advising balanced view that this is trading close to NAV , no doubt reported by the ramping rabbits on here

GL guys , but I cant see this holding at these prices unless old Shake and Bake buys more shares , but cant see that happening without making a formal offer for the collective.