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Bobbiciious
"Who started this thread?"
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If in doubt follow the "reply" button.
Many thanks Geo101 I do not know why your post does not have 25 thumbs up.
For those too lazy to read it:
Spark Exploration have two licences in blocks 205 and 206 which are on the Rona Ridge
Their main prospect is "Bader" which they believe is an extension of Halifax. Bader's P50 is between 538 and 1138m barrels deepening on the presents of sealing faults.
RPS (Hurricane's competent person) undertook a CPR on Sparks prospects in Sept 2018, they give a Geological Probability of Success to the P50 538m barrel Bader as 21%
Spark do not feel the Westray Fault Zone seals Halifax from Bader.
The whole of Spark's presentation extensively quotes Hurricane and notes that the EPS is to start early 2019.
I would recommended reading the whole presentation.
Chrishutch
"Currently able to buy at 0.668, two million bought already - but with rig on the way and news from Cali due, how much longer can the price remain cheaper than my shirt buttons"
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Trouble is no one believes in what RBD says any more.
What difference will a West Brentwood 2 well make to the SP, stuff all in my opinion, market already knows the result.
Wick is exploration 24% CoS. "Near term appraisal wells" and we are hanging our hat on exploration, balls up!
Maybe Collter is the one, the transformational well we have all been told about. On success I could see P'sed off investors selling into any rise just to exit RBD and the SP being down on the day of news.
Ask your question another way around, if the SP does not move up in the next 6 months, who will not be selling this into the ground?
Albinio74
"so you believe them to be dishonest and hiding things - thanks for confirming.
I think you are wrong and misunderstand the complexity of O&G - assume based on that you'll be selling up and going on your way."
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Not what I said as you know, but carry on if it makes you feel better about your investment.
How about an answer to my question:
"I asked you one question, about the continual delays to Monroe swell, that you cannot, or will not reply to."
I am afraid that you are just a complete waste of my time.
SIPPn00b
"Donscot suggested three weeks f need on a conversation from someone "in the know" but that three weeks is not up yet. It has yet to prove right or wrong. The 19th has been mentioned as a sail away date"
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Are we not far nearer 3 weeks then 1?
Adoubleuk
"Now you're reverting to telling lies. I have assured nobody of anything of the sort. We have seen that the upper section of the flare stack has been bolted in place. I have utterly no idea if further work / certification is needed for that. Wessexmario has intuited that the turret plate has been removed."
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The works we have been told about by Hurricane are complete as you and Wessexmario have confirmed. My original question was what works are they doing now that takes three weeks in Rotterdam, after Hurricane advised us about a weeks work?
Now, somehow in your tiny mind I am telling lies. While I understand that you can probably not remember a post of yours from yesterday it does not put others at fault.
Why not do your usual, when faced with a question you do not know the answer to and make up a narrative to suit your agenda.
Donscot
Thank you for your reply, your information seems spot on.
Some times I become frustrated by the arrogance of this board, as posters seem to think they know it all and close their minds.
I hope you will continue to post, all views appreciated IMO.
ATB
Albinio74
"If you turn out to be right well played but at the moment there is no reason to think anything other than bad weather has compromised access."
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Bad weather from Sept 2018, get a grip.
What about all the other promised wells that have gone back and back.
Just what is the explanation for all these delays?
When will this become ingrained behaviour and it is acceptable to fob off investors with another update putting operations back.
What is the catalyst for changing this behaviour, if it does not come from the shareholders.
As to a knack of seeing the negative, after a year of broken promises I can still see the upside, but could not tell you when it will happen and I doubt you or RBD could either.
Adoubleuk
Looks like yet another 3 days of a smoke and a pancake.
Is this really the best way to spend their time in Rotterdam, as you have assured us all works are complete?
Just remind me which poster said three weeks in Rotterdam? Maybe he would have a handle of commissioning time, but I guess we will never know.
Adoubleuk
"I can believe that. Too busy raising peoples' blood pressure with negativity and endless rhetorical questions over on the RBD board, eh?"
"What are they doing? Fitting the upper section of the flare stack (done), removing the turret plate (Wessex mario intuits that's now done)"
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Sorry for not replying to your stupid post earlier.
As you have stated; that the flare stack is done and the turret plate is done. Just what are they now doing? Seems a bit odd that they are just sitting in Rotterdam for no reason.
Maybe they are having a smoke and a pancake? I look forward to your "expert" explanation.
There was a poster who advised us of three weeks in Rotterdam, why was he given the bums rush by the idiots on here? You should be well qualified to answer this question.
Analysister
"We have to accept that their business model means they are always waiting for other companies to do stuff."
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No we do not. RBD's investments is to accelerate near term drilling, not to accept any "too much trouble to try BS" month after month.
Albinio74
"Do you think they are inept or corrupt (or both)."
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I do not think they are corrupt in the slightest.
Inept, deals and raising finances no, but operations yes.
They are busmen in suits trying a new approach, while I completely appecate what they are trying to do, the operations side is completely BS. Without the operations side they will be no transformational rise in SP. In my opinion they need to get this sorted PDQ.
Albino74
"No need for any explanations from me"
"Just asked you 3 very basic questions on your post. Would have been good if you could have answered."
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You just tried to put words in my mouth, asking questions that were not alluded to in my post, so I have no reply to this sort of BS.
I asked you one question, about the continual delays to Monroe swell, that you cannot, or will not reply to.
Archie66
"For example for work this last year I had a project where I had 7no 100 tonne crane movements I installed and rolled 300mm type 1 stone. It did it’s job but on one occasion the road had to be regraded as the wether created soft spots."
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The weather created nothing. Your "soft spots" were due to the formation you were laying the type 1 on! You should have put down a larger stone for a sub-formation, on top of a geo-textile and then dressed it with say 100mm of type 1. Would have cost you stuff all more and would have stood up to your weather.
Look at todays broker note $300k for "high grading"! What are RBD expecting to earn per month from Monroe Swell? Say it is the same as West Brentwood about $300k, so this months delay would have paid for the improved access road. Christ, what a balls up!
Now RMD have an inadequate access road and they are pondering if they should pay more, while drilling is going no where. I understand the principal of scrimping to try and save money, but there is nothing like doing the job twice to maximise the cost.
These boys need to get a grip, or employ someone that has.
Albinio74
I made myself plain, but as you seem to be unable to understand here is a simple explanation for you.
It is just a simple access road nothing too difficult about that, but the one installed, can not stand up to heavy rain that happens all the time in the winter! In conclusion, it is useless, but do not worry if they get a period of dry weather it "may" be ok. On the other hand it could rain for the next 3 months as it is the winter after all.
The washed out road, apparently accounts for only c2 weeks delay.
Why not tell me, the reason the well was not drilled in Sept 2018 as programmed and advised by RMD, or all the other dates programmed and advised by RMD?
I look forward to your explanation.
SIPPn00b
"I answered your question, can you do me the courtesy of answering mine?"
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Sorry for the delay in replying, do not spend much time reading this board any more.
Strategy, has not changed from when I brought in late last year; holding for the end game.
Was thinking of selling at the last rise to 60p, but thought it was too near first oil to re-purchase. How wrong can you be!
Just a waiting game, 9 months until all risk is removed, or not.
As an aside what happened to the poster who predicted 3 weeks in Rotterdam? Did the board just P him off as usual? Any ideas just what they are doing with the FPSO, apart from the two days work that we have been informed of?
Chrishutch
"Whilst California drilling has seen a small delay of c2 weeks"
"Heavy rain has impacted operations in California............In the event of success at Monroe Swell, Reabold will consider high grading the access route (c$300k)"
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Is this note paid for by RBD?
When RBD stated in their Sept 2018 presentation, that Monroe Swell would be drilled in Sept/Oct 2018, is this the two week delay?
When RBD stated in their Nov 2018 presentation that Monroe Swell would be drilled in Nov 2018, is this the two week delay?
When RBD stated in the RNS of the 22 Nov 2018 that Monroe swell would be drilled in 10-14 days is this the two week delay?
When RBD started in the RNS of the 11 Dec 2018 that they would be spuding in a few weeks is this the two week delay?
Heavy rain, my forecast shows it next Tuesday, yet I am not expecting any roads to fail.
Despite the Monroe Swell work overs and their need for access, I can understand not "high grading" the access road until the Monroe Swell well is a success and indeed it makes sense if you are intending to drill the well in Sept, but in Dec / Jan it is total balls.
Before this board starts with the "troll" comments, does anyone have an explanation as to why this well has been delayed from Sept onwards? I think we should be told.
Dan1Nat1
"Out of interest do you know of another company that has a more active program in the next 3 months?"
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I heard of one who has a more active programme in the "last" 3 months, but it turned out to be a load of BS.
Dan1Nat1
"Clearly we have had a big seller in the background, imo that is the reason the sp has been down for the last 3 months"
"We are days away from the start of a very active period"
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Clearly as F all is going on.
Days away and still no one is looking to invest! What is your excuse for this?