The Gathering Storm15 Sep 2021 13:03
California Part 2......Time Line
14.6.2018
Gaelic Resources Ltd was acquired by the issuing of 420,000 ordinary shares in RBD at a value of £3,045,000.
RBD now had the right to an earn-in via Gaelic to 50% of the leases held.
These leases operated by Integrity Management Services (IRS) who are in charge of operations of the licences.
Unaudited accounts at that time of Gaelic show net liabilities of £73,728 including a shareholder loan of £756,257.
That last amount was assigned to RBD as part of the acquisition deal.
Notes
Gaelic Resources owned 100% interests of Temporary Energy LLC (A private Californian company)
Temporary Energy has an earn-in agreement with Sunset Exploration to earn into 50% of 'certain' Oil & Gas licences
owned by Sunset Exploration.
Temporary Energy also has an agreement with Integrity Management Service (IMS) for an unspecified fee.
2.11.2018
RBD says the Grizzly Island well drill will be deferred until 2019 and prioritising West Brentwood well.
8.2.2019
RBD issues 1,980,000 shares to an Institutional Investor thereby transferring 350,000 shares to Connaught Oil & Gas
a private Canadian company registered in Alberta. Connaught's primary asset is 35.04% holding in Rathlin UK.
29.4.2019
RBD director says that the wells at Parta Romania and Grizzly Island planned for later this year (2019).
23.9.2019
RBD decides to drill well VG-5 ahead of planned well at Grizzly Island now expected in 2020.
26.2.2020
Reabold in its California update never mentions Grizzly Island.
10.6.2021
Reabold in its full year annual report never mentions Grizzly Island
31.12.2020
Reabold California enters agreement with McCool via Sunset Exploration for fee of £284,000.
This agreement includes Reabold California paying 100% of completing existing well as a water injection well, and
100% of costs to re-establish an existing oil well
RBD investment £1,933,000 and loan to Reabold California LLC £6,292,000 with no fixed repaymnet date.
January 2021
Presentation reports Grizzly Island to earn in 50% after drilling well.
* Permission to actually drill Grizzly Island never given by Californian Authorities.
Next Europa.