Member Info for Manwell02

NVG, no I don’t. These licenses / deals always amaze me, it flowed in 77 & Texaco never took it to production & no one could be bothered to snap it up over the last 43 years! Just rings alarm bells to me. Just look back at the appraisal well on colter, previous operator walked away for a reason.

Anyone else think £2.20 per Corallion share is massively over the top! Another 600k spent which tbh is all going to boil down to Victory & a 3 year wait.

Also now 125% rise needed to get back to the last placing price, which many II’s took part in.

No worries, yes that’s correct.

No worries Alexios. In my eyes and from what we’ve seen it all points to a OH sidetrack off a cement plug, rather than a cased exit from a whipstock.

I see there’s a different opinions on twatter as to why some 7” casing is being moved.

For the sidetrack we saw no evidence of a cut and pull of the 9 5/8” above the cement. So that would suggest to me that it’s still in place, therefore they sidetracked through the 9 5/8” into a 8 1/2” hole. You cannot run 9 5/8” through 9 5/8”!

Be good to see if all the 7” has been moved, could be moving some of it as they don’t need all of it. Also we’ve not seen a logging truck & Rathlin said 3 weeks for the sidetrack. (Which tbh I think is a bit excessive)

No worries Rubey, entitled to your opinion & see it your way. Nothing wrong with a polite healthy debate, is what the boards are for.

Ps persi is not good for your health lol

Lol you really don’t like him do you. Ever thought of using the filter button?

I have to say that’s not correct either.
Example: if a placing is done for 5m & 100p then that’s 5mil shares issued & end of.
If that company uses the ELA that reabold have set up they could dilute a lot more even with the discount. Say the first advance request is for £1m @ 100p that’d be 1m shares. Next 1m @ 90p that’d be 1.11m, next 1m @ 80p that’d be 1.25m & so on. The scale of dilution would be far greater with a SP in the 1p > range. The only way it would be less dilution is if the sp increases.

We know they’re going to use it 100% as already paid commission (further dilution to us) for it.

Hey Rubey, yeah think it’s just the terminology but think about it, who would lend a company money knowing that they couldn’t pay it back. Take a look at how UKOG did it, was horrendous.

The duo (I’m not even gonna call them dynamic anymore until they deliver something) make it sound like a good deal but it isn’t, my favourite part is “ This discretionary cash facility was seen, by the Board, as a prudent measure to provide increased liquidity without the need to dilute shareholders” followed by “ In addition, the number of new Ordinary Shares to be issued per Advance shall not exceed 1.5 per cent. of Reabold's then enlarged share capital.”

So basically there’s another 5million quid coming to the cash sheet & god knows how many more shares in dilution.

Hey Rubey, but the 5m that’s available as & when is the death spiral. Only good thing is they have to announce their Advance notice.

In order to drawdown on the Discretionary Facility (an "Advance"), Reabold is required to serve an advance notice to Acuitas ("Advance Notice"). The issue price of any new Ordinary Shares issued pursuant to an Advance will be 90 per cent. of the volume weighted average price ("VWAP") of the Ordinary Shares on AIM over either the 5 or 10 trading days ("Pricing Period"), at Reabold's discretion and to be specified in an Advance Notice, following delivery of an Advance Notice. The discount will be based upon the two lowest and the four lowest VWAPs over a 5 day and 10 day Pricing Period (as applicable) respectively. The Company may set out a minimum acceptable price, if any, in the Advance Notice provided such minimum price must be less than or equal to 96 per cent. of the VWAP of the Ordinary Shares on the trading day immediately preceding the Advance Notice. If no such minimum price is specified by the Company in an Advance Notice, the minimum acceptable price shall be 96 per cent. of the VWAP of the Ordinary Shares on the trading day immediately preceding the Advance Notice. Upon the delivery of an Advance Notice, the Company is required to make a public announcement that it has delivered the Advance Notice, stating the amount of the Advance requested and the dates of the applicable Pricing Period.



The maximum Advance per each Advance Notice shall not exceed 100 per cent. of the average daily value traded of Reabold's Ordinary Shares on AIM ("DVT") in respect of a 5 day Pricing Period or 200 per cent. of the average DVT in respect of a 10 day Pricing Period. In addition, the number of new Ordinary Shares to be issued per Advance shall not exceed 1.5 per cent. of Reabold's then enlarged share capital. Acuitas reserves the right to reduce the amount of an Advance in the event that, during a Pricing Period, the VWAP falls below 0.3 pence or there is no VWAP on any day during a Pricing Period (reductions of 20 per cent. and 10 per cent. per day where the VWAP falls below 0.3p or there is no VWAP, for a 5 day and 10 day Pricing Period respectively).



Acuitas is restricted from selling any Ordinary Shares during a Pricing Period and it, and its affiliates, are banned from engaging in any short selling of the Company's securities. Acuitas is also subject to a daily volume trading restriction not exceeding 20% of the aggregate volume of Ordinary Shares traded on that particular trading day.

I hope so, I can only recall a 15% rise one Friday afternoon, other than that it’s been a downwards spiral. I mean imagine if they actually issued bad news or more shares! Be good to know updated cash position as got the death spiral lurking in the background.

Where was this printed bud? Couldn’t see it myself. Thanks.

SP spread looked very tight today so not believing half of the buys/sells printed on here. Anyone got L2 to check the biggies?

Also considering RBD raised 24mil with 2.6billion shares issued & UJO raised 7mil with 4.3billion shares issued. UJackers reckon they’ve churned those. Yet we are down here with a seller/s (Humber & Hambro??) holding us back. Additional 350m shares to Humber can’t be holding us back as that’s nothing in comparison. Something is really afoot here, where there’s money there’s corruption.....

Thanks guys, do look more like tree parts than rams & spool. Think I can just about make out the manual handwheels for the valves which you don’t have on rams.

Rubey this is a good picture, the red parts are the tree but the grey/silver part is actually a slick line bop which has multiple rams. You can have single rams which cover a range when drilling & the majority are coloured red.

The picture on twatter of the suspected tree, who uploaded it? as is slightly blurry & to me it looks like a spare set of rams & drilling spool. Sure these were delivered a while back. Be good if we could get a clear close up from bakedbean as his drive was very good.

It has to flow to be proved up & flow rates need to be constant. I cannot see anyone wanting to buy it without proof that it flows. Always brings me back to BP (95%) & Perenco (5%) Ravernspurn well. Spent over £100 million on it & all looked good, ran completion & perforated, then seen more gas from a wet fart! Also look at UKOG spouted off 1100 or so bbls/day & barely doing 110! There’s a lot to be proved up before an asset sale.

WRT the sidetrack it’s the right thing to do to have another look into the Cadeby up dip. Clear to me that the gas in the KA is there but the Cadeby has to end somewhere (hopefully we’ve just found where that is) The flow for the KA at B1z will all depend on the length we penetrate. Once flow test completed it’s likely we will see a horizontal to help achieve higher rates sometime next year.

Confirmation of being oversold.

https://m.youtube.com/watch?v=vh4FBV0XbCE

Hey Jack, I just looked back at the TD location for the A2 well & can confirm they are now drilling more towards the A site. The TD location for A2 is just below the top right hand corner in quadrant TA-13a. The TD location for B1z is a little bit below the A2 location however it touches the TA/23 & TA-13a quadrant boundary. Seems to me that they’ve drilled away as far as they dare with the B1 motherbore & will now concentrate on getting closer towards A site.

Rubey / Wasit, I took a look on the oga portal & the new well details are on there. The sidetrack will drill in a NW direction back towards the A site. If you can get on there then you will see the different positions of the red dots in the TD location section for B1 & B1z. You will also see the different easting & northing coordinates. (Not sure if this link will work)

https://itportal.ogauthority.co.uk/edufox5live/fox/edu/

Pi55 poor that uggy. All say different things in their announcements. Rathlin also the only one to mention a timescale. Different words used for the structure (Higher, Superior). I mentioned it earlier on here, they should all have the same wording with the exception of the companies names.