Member Info for Rubey

WNA, D, B and C are all in a line (respectively, in a slight zigzag) from NNW to SSE, over a length of about 3km. The most northerly wellsite is WNA, and the most southerly wellsite (proposed) is WNC. It appears to me that WNC is close to the most southerly part of the West Newton field as shown in the graphics I've seen, whereas there is an area of the field extending for around a further 3km north of WNA without a proposed wellsite within it.
During the recent interview of David Bramhill, he mentioned the 'north' being of interest. I thought he meant the Kirkham Abbey formation above the horizontal drill (ie. nearer ground surface) at the time, but I'm not sure now. Could there be a WNE & WNF required in time? Plenty of potential here, that's for sure.

https://www.youtube.com/watch?v=kbonWR5Mohk&feature=emb_logo

10 minutes in.

I see people are still saying it's all about the gas on twitter, and we should flip it when we sniff it! After the WNA-1 drill, someone from Rathlin said West Newton was sitting on an oil lake. This seems to have been confirmed by the findings at WNA-2. Following first results from WNB-1, it seems to be more of a small sea, than a lake!

Let's hope it's terminal...

https://www.brrmedia.co.uk/broadcasts/5fd0e43f5b34714b9f9b3540/reabold-resources-west-newton-update

As a reminder.

NVG - good post.

That's a shame, NVG. I hope you did okay. I believe logic will win the day before too long, and the share price will rise to a sensible level at over 1p. bwdik?

However, I can see the possibility of a sale late summer, after testing of WNA-2 & B-1, the right noises from the council for WNC & D, and the completion of a Field Development Plan for the West Newton Field, but the price would be less but there would be no more dilution. Perhaps 2 or 3p?

Have you had a brain transplant, persimmon?

No L2, BH, but I'd say a sell.

The fact remains, when this asset is sold it will have a fixed value. Looking like well over a billion, but a sale value of say £600m. That's well over £300m to RBD - a potential dividend of 4 or 5p per share, although it will be perhaps a year or 2 away, and there may be more raises along the way, so more shares, but I'm looking at 3p per share as a rough guess.

It seems that before open, the market makers decided the share price would be 0.55p. This seems to be the price they want to clear the seller at. Can't take long before they're gone, then the market can regain control of the price.

I'm in charge of the kitchen tonight BH. About to prepare a couple of chicken breasts - I'll think about how in a minute or two. It seems everyone knows about condensate getting through to the gas incinerator now - I thought I was the only one :(

The £24m speaks volumes as you say, as do the Oza (Orza) family holding and the UJO director deals last week.

Deemule, I have a horrible feeling Ribeye will get very plssed off if he reads that you think he (or she) and I, are one and the same. He (or she) is probably a much better poster than me (not hard really though, before you say it persimmon).

BH, on your point about the EWT, I'm sure that the A-2 did flow gas, but that it also flowed condensate, which meant the whole lot had to be shut down. Not supposed to happen, but they'd got enough info to justify drilling WNB-1.

Hey, deemule, that's when I first bought and what I first paid. Thank goodness for averaging down!

Thanks Manwell. Looking very good then.

Afternoon Manwell. Any thoughts on the latest grainy images and twitter opinions?

Actually I think it's a buy under Market Abuse Regulation 3.5.10 (2) or (3), bearing in mind the trade time, and the most recent buys were 0.4374 and sells were 0.435 (this trade price was 0.438). Just my opinion.

Well, no doubt you'll learn in time....

What duster. Are you sure you're on the right board?

At 10.20 I believe 0.438 was a buy price. So those 10m trades look like buys to me, fwiw.

https://www.guerillainvesting.co.uk/2020/12/08/westnewton-twist-fold-or-hold/