Member Info for RNSTranslator

"saying investigation underway on leaks and a lot of you on here who spend all day ripping into the management."
As far as I'm aware ripping into management isn't a crime, especially when folks simply point out what the company have published and what has actually happened to the share price, the placing leaks and the management overselling the upside before moving on to the next "big thing".. pointing out facts is pointing out facts.
People posting falsehoods - well that's different, some derampers make stuff up, but mainly its the rampers (almost double the Jv partners wressle production eh! TAC, no response to those facts , I see), and claiming £15mm a year revenues...and so on and so on..blah blah blah... nobody cares what a bunch of BB posters post, other than those who've lost money, and as far as I can see that's every shareholder now....

TAC strikes again: "DB has increased the company's interest in Wressle to the point of being the biggest cash recipient from the oil here, almost double the revenue of the JV partners. "
Actually UJO has 33% more revenue than partners, when I did maths that was 1/3 more not almost double!
For the first year of production course even that isn't true:
UJO have to pay £2.08mm to Calmar
EDR have to pay £400k to Calmar
EOG do not have anything to pay to Calmar.
and the rampers continue to mislead...

Mirasol
Even then many fail…
Northern went off to Italy and Oz, then Canada…
Egdon, had their own forays into France I think?
Bramhill, has been all over the shop, UK, US (twice or more)
Ireland, Africa, South America, and back to the UK,non worked.
Europa, Ireland and Africa Romania ? maybe more
RBD UK US Romania
They all have one thing in common it’s all about moving the story on from the previous transformational story that didn’t quite live up to the hype…

This is not an issue of when first gas will be produced, it’s a question of what is it worth as an undeveloped project now, and what, if any, other financial obligations or option dilution remains in the company.
Ultimately of course it’s a question of what happens to the cash that rbd receive as shareholders. That debate will of course be a tricky one .. further investment in WN or give it back to bombed out shareholders …

Lenin
You might want to stop digging
The NPV10 they quote is not the same as the Net Asset Value.
The NPV is a simple calculation of discounted cash flow based on an unrisked build out and production profile.
If you think the costs and timeframe and ultimate rate and volume of recoverable gas is 100% guaranteed and an investor wants a 10% return in its capital then that is the technical value assuming the buyer pays nothing for it.
If you pay the NPV to acquire the asset then the asset is all risk and no value.

The recent BNP research paid for by RBD suggested a Net Asset Value of $49mm, based on the increased CPR, however this is significantly larger than the volumes calculated by Chevron in 2018. Anyone who thinks they’ll sell it for the NPV10 (or anything anywhere close to that) simply doesn’t understand oil and gas economics….
Let alone how much of the post tax sales value gets back to the shareholders after any sale… assuming it’s a cash sale and not a share offer.

Lenin, I've made plenty of money on Aim, its about understanding the risks not listening to the fluff the management want you to hear... there's investing and there's gambling.. suggest you stick to gambling...

Its the gas futures price in 25/26/27 that's important not next months... and its not 200p then.
You don't buy a gas asset on todays gas price when it wont start to produce for 3-4 years.
Approval of an FDP requires not only an operator to be technically qualified to undertake the work, but also have the financial capability to develop it and abandon it.. Corallian nor RBD have or will be able to do that, that's why its up for sale now, Submitting an FDP and then trying to insert a new owner with new capabilities and policies into that document after its been submitted will simply cause further delay, as its rewritten.
Any buyer, will need to have the financial capability, the ESG net Zero policies, and the technical ability to be qualified as a development operator... The buyer of Totals stake will be buying it at todays 200p prices because it's already in production and had over $1.1bn spent on its development. On top of that there's the "Cambo" risk that OGA wont approve the FDP anyway...for political reasons...

Novykluk
Your failed attempts to discredit based on zero knowledge keeps undermining your posts..
Total selling down? Reuters good enough source?

https://www.reuters.com/business/energy/totalenergies-seeks-sell-stake-giant-north-sea-gas-field-2021-10-05/

"With price of oil continuing to rise and the gas having a nice bounce we could have a bidding war on our hands as Victory is not the only asset plenty of oil and gas discoveries on offer."
Seems Total is seeking to sell down their West ofShetland producing gas assets, so they wont be a bidder...so exactly who are the bidders going to be ?

Honestly...theres a right bunch of w@nk5rs on here trying to talk the company up.
(Whilst the SP is at a historic low despite transformational assets)

You asked I answered

Novykluk:
and Rathlins financial position? are they still well funded ? how much of the £12mm did they spend this year at a rate 4x that of RBD..where do Rathlin raise money... answer the shareholders... in fact to date their funding has been almost entirely from RBD..and UJO/Humber paying to drill most the A2 well.
and How much did the testing cost in B1z and A2?
and why did SW say funded for all this activity " in the coming months"?

TAC strikes again:
GE Oil and Gas
At the end of October 2016, it was announced that General Electric was under negotiations for a deal valued at about $30 billion to combine GE Oil & Gas with Baker Hughes.
In 2016, GE Oil & Gas employed approximately 37,000 people, serving customers in over 140 countries.
Average executive Compensation £177,000
Highest paid Exec £526,000

UJO
Value £16mm
Employees 2 plus 2 NEDs
Average Executive compensation: £150,000
Highest Paid Executive £215,000

Seems a reasonable comparison to me LMFAO... rampers getting desperate so resort to nonsense.

"I'll leave the spouting nonsense to you, you're a gold medalist."
I just point out what the company has actually published... do you think they're spouting nonsense?

Chimney you're struggling here: ""Companies don't specify cash" they don't, they gave a rough approximation.
"Cash and cash equivalents as at 31 December 2020 was £1,139,000"
"Cash assets of the Company as at the date of this report of approximately £6.8 million."
Seems like pretty definitive numbers to me...but yes you're right it could be £6.78mm or £6.82mm I guess
Don't you just hate it when the company itself publishes stuff that doesn't fit you're own narrative?

In The Brr media interview 11:18 onwards SW said the next activity at WN was "likely to be re intervention in the existing wells to get us to a point of more confidence..." before a decision on drilling B2...
B2, if a decision to drill is taken after "reintervention" in the current wells it'll be sometime next year, do they have funding for it? They're not being explicit , referring to the funding for the work in the coming months...and of course no mention of Rathlins ability to fund any of this stuff...

"They didn't specify cash on hand as of the date of publication" - Companies don't specify cash at date of publication of accounts, so not a surprise." Really , is that the case?

You mean like they did in this years results when they said :
"Cash and cash equivalents as at 31 December 2020 was £1,139,000"
and also added this:
"Cash assets of the Company as at the date of this report of approximately £6.8 million."
So you're saying they never do this? even when they did in the last accounts?
If you're going to spout nonsense, at least try and make it difficult to dispute... otherwise you look like a clueless ramper...

New Articles simply tighten up the Tag along/Drag along obligations.
Sensible move if contemplating the sale of the company, as it stops a hard core 10% of refuseniks holding up a sale, or blackmailing the rest. Needs only 75% of shareholders to agree a sale, and then everyone else is dragged along...

What you just said:"So your first ERROR! Reabold are NOT burning through the cash! They have SEVERAL £million still in the Bank. If youfollowed the facts correctly, you would know from the RNS issued on 28th January 2021 when the comapny raised £7.5m, that very little of those funds have yet been spen!"

What they said on Sept 30th:"Cash and cash equivalents as at 30 June 2021 was £6,398,000" subsequent to which they (and Rathlin) have spent money on Testing WNA and B for 3.5 months up until mid October.
They didn't specify cash on hand as of the date of publication, but safe to say its rather less than the £6.4mm.
Of course Rathlins funding position is not mentioned but was £12mm cash as of 31/12/20 according to their accounts. They of course are spending cash on WN at a rate 4 times that of Reabold, as their main shareholders, future funding for Rathlin from Reabold also needs to be taken into consideration in terms of the overall funding position of RBD....

What you said: "By that I mean that California has been topping up the Bank account very nicely thank you,"

What the company actually published on Sept. 30th.:"During the period, production from the Group's California assets generated revenues of £560,000 (2020: £570,000) and a gross loss of £7,000 (2020: £80,000), reflecting higher operating costs due to significantly increased water disposal costs, as noted above."

Interesting calculation from the EDR release on what they expect Wressle to flow at for they next year.
Guidance 240 boe/day.
Keddington 12bpd
Fiskerton 8 bpd
Ceres (currently 62 booed down 50% yoy) assuming the same decline rate then that’s about 50 boe/d for the next year. That 70boe/d leaving abt 170 bpd for Wressle , which equates to 550/600 bpd gross.