Member Info for itsawrap

This how Reabold shareholders have requisitioned a GM.

https://www.reaboldrequisition.com/wp-content/uploads/Reabold-Resources-Requisition-Notice-15-November.pdf

You're absolutely right, 10 billion is expressed as 10,000,000,000

however...you wrote "100,000,000 million shares"

...not my error mate...and no need to be abusive

10'000 million = 10 billion :)

"early 100,000,000 million shares"...crikey that a lot of shares considering there are only 10'000 million shares in issue

Although I think Colle Santo has a good chance of success, I also believe that the presentation is a masterclass in spin.

- Euro11m-12m pa highlighted but LNe will own only 90% of CS.

- based on E.45 mwh yet gas has traded below this for most of the last 8 months including much of October when the presentation was released

- "€66m estimated total capex with €16m capex to first gas; project to then be self-financing" - from profits?

- no liquid market for shares so RBD reliant on dividends from LNe...but see previous point

Assuming CS is a success, our best hope of seeing quick returns may be if LNe floats on AIM, otherwise RBD could be waiting years for dividends

...more like the sound of rusting Ferraris

Persi it is possible to view IoM accounts for a £2 fee. I dont know how many companies RBD has created but Gaelic Resources is one. Annual return filed 09.02.23

https://services.gov.im/ded/services/companiesregistry/purchasefileanddocumentlist.iom?BusinessEntityId=460366

Https://www.farmoutangel.com/ Africa full of opportunities, let's hope Europa choose very carefully

Pboo you're so impatient, they are only 2 months past a 1 month target!

seriously though, it's about effing time, Bramhill showing nothing but contempt for shareholders despite his promises to provide timely information in the Finals.

Isn't it extraordinary that a company with an £11m mcap can receive £5.2m cash and the sp is flat..imo that speaks volumes about Reabold management

Any idea what they mean by "clean up", isn't that a continuous process performed by the separator or is it something else in this context?

RNS 08.11.23

Europa Oil & Gas... is pleased to announce that the W1 well at the onshore UK Wressle oilfield has resumed production. The jet pump and the associated surface equipment is operating as expected and since production resumed the W1 well has produced at gross rates of over 950 bbls of oil per day ("bopd"), compared to approximately 750 bopd prior to the jet pump. The well is now on continuous 24-hour production and is expected to continue to clean up over the course of the coming days. Once stabilised production is achieved a further announcement will be made.

Hi moniman I'm not sure if you are serious or not? as persi says, everything is heavily caveated, for example your quote includes the word "intends" twice and "upon receipt of the £9.5m", plenty of wriggle room there!

Simon64, it's great to have a desperately needed cash injection but on what basis is the price a steal? Rathlin need £6m cash to progress WN, if RBD provides the cash that leaves less than £1m to keep the lights on, invest in LNe, etc. Of course they may borrow against the £4m due from Shell in which case they will have the cash to keep the gravy train running but if WN fails all they have is a roll of the sice on Colle Santo

Carrot, cash good but all committed to projects, when will shareholders see some value?

Https://reabold.com/investors/reports-presentations/

deano, the colle santo cpr may answer some of your questions

Reabold 1/6 & UJO 1/6 are funded, Rathlin has £3m of the £9m needed for their 4/6. With RBD cash and possibly a loan facility secured against the next £4m from Shell or even a farm-out, WN is looking very possible.

re the milestones, I calculate we should hit the $18m milestone within the next 10 days, hopefully Bramhill will have one last hurrah before year-end. However, I do agree that monthly production data would be much better.

re Kedd, I would like to see a project plan for H1, it's unlikely but maybe Heyco will shake things up?

Could be a very good month for the sp, production data for Wressle due, CPR & $18m milestone. cash position should be very good, possibly a statement on WN starting and maybe even Kedd

Option 2 for increasing our % of LNe gives LNe the choice of cash or shares so RBD may not need cash, it depends on what LNe wants. RBD should have negotiated an option contract that gives RBD the choice of the settlement terms not LNe, bizarre! My guess is there will be a partial exercise of the option this month, perhaps £150k cash followed by an extension to the option (£1.5m would remain if they take another £150k)

It's tricky to calculate, 2 years ago DB said opex was "$8 or $9", adjusted for inflation and water disposal, perhaps $15 now?