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May well be this transformational asset Reabold need in reducing the need for any future placings/dilution. Cash flow from West Brentwood and Monroe Swell together could produce fantastic income for the company and near term too. One well drilled, working now to get it ready for flow testing while drilling a second well alongside. No time is being wasted on these assets. Short drill time, low drilling costs. Huge payzone which minimises flow depletion substantially.

Then waiting for West Newton to Spud next which already has a high press coverage thanks to the environmentalists 'monitoring camp'. Very high CoS for gas as well as oil and added exploration worth a silly high NPV. Reabold have the biggest stake in this for a public company followed by UJO. Rumours of equipment being delivered yesterday morning.

It is all happening. Sadly held down by City Finance selling to get any bit of cash they can. However keeping a rough tally I don't expect they have much left over and wouldn't be surprised to see them out by the end of the week if not before.

NPV of West Brentwood and Monroe Swell equates to 125m mcap (with Monroe Swell pre-drill figures, now saying it is better than expected). We are currently sat at 22.94m mcap. Do the maths.

The infrastructure in Cali is for 'heavy oil' so here is hoping Persimmon.

I liked these bits... "The Colter South discovery remains an opportunity to evaluate further as it is now aerially more extensive than indicated by the pre-drilling mapping".
Then on to the money talk...
"The data from these well results will be used to determine the forward plan to maximise the potential value associated with the Colter South Prospect." - straight to the point - they have a Commercial Colter South and are wanting to monetise this.
And more opportunities... "In addition, the side-track encountered oil and gas shows in the Jurassic Cornbrash-Lower Oxfordian interval".

There is lots to pick out from this one past the 2nd paragraph.

Imagine selling for 0.6p *shudders* Monroe Swell next week!

Yup, when they sell a proved asset and we get that RNS I would imagine this will jump significantly. However there is also a significant seller holding this down just now. I still see this moving up over the coming weeks on Colter and Monroe Swell (if successful). Lots of near time news around the corner. Also what happens when an asset gets sold? Will they pay a divi? That would be a game changer.

For me also - talk about a discount :)

Great news today. Results next week? Then onto the 2nd well. Lets hope this seller has dried up - speculations shows they might be nearly out now. Hopefully the tide will turn here and we will see many returns. Now awaiting results for Colter North, Monroe Swell and spud of West Newton.

PDMSPiper - I think you hold a good point here but you must remember Reabolds strategy is to find the oil - not necessarily to get it out the ground. They have exit strategies in place for all of their investments. Lets see how they exit Colter - that will give us an idea of what they will do with their other assets once proved.

Colter results I think early March - hence the extension. Monroe Swell spud I was expecting this week. Hopeful it will be next week. At least we know it is a short drill so when it does spud it won't be a long wait.

Excited for this one. Once it spuds should only be 7 - 10 days before results. Results maybe around the same time as Colter. High CoS for both. Could be a very good end to the month/beginning of March.

Can buy pretty much at bid today. Making it look like a sell off. Wonder if we will see large background trades showing later. Monroe Swell spud rns tomorrow?

boblondon - "Monroe Swell confirmed to drill next week" - what have I missed? I am more excited about this than Colter!

Hoping for an RNS on that this week. Game changer.

Lots of publicity lately. Cash generating. Fully funded for 2 new wells which will hugely increase revenue. Planning for 4 additional wells has been submitted. Looking good for the short, mid and long term investment.

Weak hands

Also expecting Monroe Swell to spud. And West Newton.

I liked that last comment "expecting significant drilling results in the next few weeks".

I agree Chris, was not expecting to read that when I read 'Production test at VG-4 Well, West Brentwood' this morning. Fantastic results. This secures great cash flow. Much better than anticipated. Along with VG-3 well at 200bopd that's almost 700bopd. Not bad for the smallest asset.
I wonder if they have an exit strategy for West Brentwood or if they will keep it as steady cash flow. They said once an asset is proven they would sell it and move on. Either way fantastic update. Now onward to Monroe Swell.

Full ask being bought up.

Colter, Monroe Swell and West Newton. Busy Q1 indeed!

See I thought I was right, fair play though, still not in an RNS.. I guess they have stated the rig is moving to Colter to be drilled, and it is going to be moving to Colter to be drilled. So we don't really need an update at this time. Seems everything on schedule which makes a nice change on AIM.