Member Info for rsproson

Weird to see this dead cat on the rise. Thought my investment here would be left in the dust and ashes from JZ.

Another bag from here and I will actually be in profit after 2 years or so of being around 80% down.

What a S**tshow.

I am happy for it rising but can anyone actually tell me why this is going up? Just in a bit of disbelief right now.

No one can say for sure. West Brentwood we are waiting for the gas to be hooked up to the pipeline. The well was choked back to around 100bopd due to too much gas being produced for the flare stack. It was unexpectidly wanting to flow around 500bopd. So the delay there is probably due to the gas tie up. I wouldn't expect much bad news from this one other than a delay due to connecting to the pipeline - as in not expecting issues with the well - as it was already wanting to gush above expectations with good gas shows.

Monroe Swell however this was waiting to be tested - 2 wells drilled with better than expected hydrocarbon shows. I can't remember the exact length of the payzone identified but it was substantial and sounded promising. The delay with this one is a bigger worry to me as it is flow testing we are waiting on. Hopefully it is more of a funding issue (on the partners side) rather than an issue with getting it to flow. This would make more sense on why the markets have not been updated. If it was a duster they would have to tell us. If it is funding they might be trying to work that one out in which case fundamentals here are all still intact.

Either way both of these fields seem to be overshadowed by West Newton and probably more so once Parta spuds. I sense a good time to be had here over the coming months either way.

We won't get an idea of flow rates from this as EWT will do a whole range of things before realising a stable flow rate.

First get it flowing - this can take a while. Once it gets flowing though it normally increases in rate before averaging out.

They will do pressure build up tests to try and get a better estimation on the oil accumulation etc.

They will do a max flow rate as well.

So lots of testing rather than just trying to get as much out the ground as possible.

So to answer your question - we won't get an idea of the stable flow rate from the storage tanks/tankers - but any tankers spotted with oil plates will be good news regardless. And any glow from the flare stack will be good news - unless this is also being stored? I am sure they burn any overflow either way though?

Yup a sell that big going through above the bid price can only be good news. Probably been holding the sp down.

Reabold do not need to fund the well test - although if they do it will be for something in return so it would be increasing our stake (I assume) in West Newton. In my opinion that would be well worth any placing - although I am fairly sure they are still sitting on a cash pile and not needing to raise in the near future. Reabold value their work on the SP. They value their shareholders. They are not trying to build a production company here they are trying to create value through investments. Raising funds at every opportunity is fine for the production company but not for an investment company - that is not their business model.

Call the police - people are getting mugged. Haha.

People derisking - bagging some profit - I don't plan to do that until it is substantially higher. West Newton RNS is still fresh in my mind. Christmas tree already on the well. Quarter 3 is less than 1 week away. Let the testing commence.

Once we get over 1.39 - 1.5p area we will move faster. Some resistance here due to 'bagging/derisking territory'.

That is near 50% of the shares held by Institutional Investors. Very sticky holding going on and by the looks of things this is increasing. Wouldn't be surprised to see a TR1 in the next week or 2.

24%

Yup always said I wouldn't derisk this share until nearer 3p - that was before West Newton. If any stock is going to be having majors sniffing around...

Sorry pasted wrong link - https://twitter.com/silolondon/status/1140507046300782592

Miker444 - https://twitter.com/search?q=%23rbd&src=tyah

I mixed up the COS for the Parta Block gas - that is unknown. First thing first is the Parta Appraisal at risked 51M. 75% cos. on success I assume will be moving into the other target areas. You can see why they are excited about this one though!

Worth 310.5m to Reabold. At 80% CoS.

West Newton Oil was estimated at 166m to Reabold.

That's why they are so excited about this one.

I agree fantastic news today and long overdue for all long term holders. I'm holding firmly onto my shares until this all unfolds. Good luck all.

Surely you have something better to do?

Although timelines are moving into place now so I would expect to hear something in the next 10 days on at least 1 of the assets. Could very well be 3 back to back RNS's. I am hoping they don't all come at once anyway as I prefer a good steady rise spread over a few day/weeks then a huge spike. Like BLOE for example. Very nice chart. I see RBD doing something similar in the coming weeks/months.

2 CASH COWS

West Brentwood - waiting for gas hookup and full flow test results - this could be another week easily IMO to achieve a steady rate.

Munro Swell - Waiting on flow test results for 2 Wells and news of further drilling providing the flow tests are successful.

EXCITING UK DRILL

There is always something about a UK drill that gets PI's pants wet.Huge upside here however with this appraisal. You can almost smell the gas. I like a wee bit of risk however and am equally excited about what lies below in the "Cadeby oil exploration target which has an estimated 24% chance of success and gross NPV (10) of $850m". If we hit that then we're talking some mega rise here!

Good market conditions. Multiple drills line up. Good chance of success.

See you all on the other side!

My buy is showing as a sell this morning. Thought I would have a small topup before WN spuds and we get flow rates from MS.

When they have to choke back a Well because there is too much gas and the SP opens down you have to wonder what people are smoking these days. Fasten your seatbelts we're in for a ride... when people wake up that is.

Been a while since we have had a stock with a decent run! Need more of this.

Agreed! It is an investment company afterall. This is like 'Phase 1' of their assets to monetise. Not a bad round either. Although Cali drills are to be kept to produce a stable cash flow. WB and MS look to be cash cows. I still see the price rising steadily as the assets mature. Flow test results will maybe get things moving a bit. When does everyone expect results?

COLTER - Reabold interview earlier this week mentioned it is likely they will be testing this further from onshore at Wytch Farm. The initial rig was used to see what was out there before horizontally drilling out the seabed. Makes sense. Now they know oil is there I don't think the operators at Wytch Farm would be opposed to pumping it out. I would say it is 50/50 whether they decide on doing that. The resource is expected to be commercial and they do all seem positive about it so you never know.