Member Info for Rubey

Indeed krull. They think they are sitting on an oil lake!

Very pleased my question was answered, and the answer I would hope for tbh. It seems that while they encounter success they'll have financial backing and will continue to increase the value of the asset, assuming I understand correctly. I know that's an unpopular view with some investors who want a quicker return, which I perfectly understand. It isn't exactly the impression I got when they started with Rathlin and West Newton, but it seems it could be surprisingly big.
imo

Thanks Manwell. That was quick!

They said today some time GP. I can't see them yet.

I know what it is Genghis, thanks anyway. They refer to it as a discretionary cash facility - sorry if that wording's not acceptable for you. Is that all you've got to worry about?

Thanks GP. They do seem to throwing all the best equipment at the B1 drill, so maybe it will be more than I thought? Rathlin are holding RBD's share of Rathlin's B2 drill costs, which don't seem to be required any time soon, so I'm sure there is cash about if required.
It's a shame SiloLondon doesn't still post here. I saw a very interesting tweet by him this morning. Apparently, if I understood correctly every £1k invested in RBD gives 0.0023% of West Newton, 4.47 times the amount of West Newton by investing £1k in UJO (0.0005%).

Alexios.

The well will cost £3.5m in total? RBD have clearly already paid their portion of Rathlin's share, as detailed. That only leaves RBD's direct interest - £600k? worst case. Hardly the majority of £5.4m?

I can't see WNC & WND will need to be financed unless WNB is successful. If WNB is successful I don't think we'll be too worried about financing WNC & WND as the share price will be significantly higher.
The only thing as far as I can see that may need more funding in the near term is a new project. I think that's pretty unlikely.
So I think the boys have already got a good plan in place for meeting funding requirements. £4m in the bank and £5m cash facility.

Alexios.

https://www.investegate.co.uk/reabold-resources--rbd-/rns/completion-of-rathlin-cash-investment/201911050700082339S/

Alexios.

.... the PEDL 183 joint venture is funded for: the drilling activity at WNB-1; the testing programme at both WNA-2 and WNB-1; and for a further well, for which planning consents are already in place, at the West Newton B site (WNB-2).

They're already paid Alexios.

'The WNB-1 well is a crucial well for the West Newton project, as it will evaluate both the Kirkham Abbey and Cadeby formations. We are delighted that the Rathlin team has managed to push ahead with the B site operations despite the extreme challenges posed by events since March this year as a result from the fall-out from the Covid-19 pandemic. We are fortunate to be in a position where the West Newton JV is fully funded for its planned activity.'

Sorry, @Heid_oil

They worked all weekend to get it in early BH. lol

Heid

apparently. aah.

Anyway,
Thursday rig arrival?
Spud 3rd October?
First results 15th November?
1.8p Christmas sp.
No problemo. lol

Please explain your post carolpeters? I can't see the link.

I'm guessing next Thursday for rig arrival. I think some findings will be announced during the drill, so I'll say the Christmas share price is a whopping 1.8p!

You're right Chimey. Tough on shareholders who weren't in on it. From what I know of David Bramhill he would be furious about the leak of the placing. I would think he would have been looking at at least 0.22p when he first decided to approach the brokers, but someone it seems betrayed his trust. I note CJ said as soon as potential placees are told they can participate, they sell what they've already got. I've been involved in placings in companies in which I've held shares in the past, and haven't sold. Maybe I'm a mug, but if someone trusts me enough to make me inside, I'm not going to kick them in the teeth like a lot of UJO holders seem to have done to David Bramhill. Plss poor really.

Oilman Jim and ShanJo, 2 of the finest brains in investing.

Looking beyond the idiotic, UJO's placing today means that the JV partners are now well funded to further prove up West Newton if required, and to keep unwanted offers away for a while.

I bought at 8am. My bit for the day!