Member Info for Rubey

Union Jack Oil/ Reabold Resources
Rathlin Energy, as operator, has provided an update on the activities at the West Newton B site this morning. Yesterday the conductor rig and associated equipment was mobilised to the site and will commence drilling operations ‘shortly’.

The rig will provide a stable base for the main drilling rig during drilling operations after which it will be de-mobilised. At this stage the main rig will be brought on site and mobilisation will take ‘one to two weeks’ to rig up and prepare for a 2,000m well which is expected to take 6-10 weeks. This B-1 well is intended to appraise the Kirkham Abbey formation and test the Cadeby formation where there is significant upside potential.

These are exciting times for the West Newton partners as the significance of the upside is yet to be manifested in the share price of either quoted vehicle. Any success here would vindicate trust and patience shown by both Union Jack and Reabold as well as provide a huge possible return on investments.

I know from the director in question that they regularly speak Manwell, but I don't know which one you mean tbh (best not to say in case it gets misconstrued). That doesn't mean that anything of any relevance is spoken about of course. In fact, I'd be very surprised if it was.

Thanks Manwell. Makes sense. I'd assumed WNB being over 2km from WNA with drilling I believe in a direction away from WNA, it would have no impact, but I'm certainly no geologist.
I had read someone's twitter page, who I believe has regular contact with one of the directors of a company involved in West Newton, who'd also thought the WNB drill and WNA-2 test would be simultaneous, so I assume they'd come to their conclusion independently of their 'contact'.

Assuming my calculations are right, if the sp follows the same pattern that it did before and during drilling WNA-2, it will be 1p by spud (mid September?) and 1.2p before drill results (late October?). Good drill results - surely 2p. Good test results - 5p plus?
Now is not the time to sell hoping to buy back cheaper in my opinion.

Thanks Manwell. I didn't know that. Is there any information I can look at that you can point me to to explain why please? Thanks.

Sorry - that last line tidied up to make it clearer:

The fact is if they find at WNB what they found at WNA, before any testing this will take off, whatever ****wits like persimmon say.

That's better.

CB, I would think that by the time they reach Total Depth they'll be in a position to give a very good idea what they've got, so we should know one way or the other end of October. I'm hoping they'll move the first rig from WNB to WNA to test WNA-2 during drilling WNB-1. That will hurry things up, but testing will take a few weeks and provide the detail.
The fact is if the find at WNB what they find at WNA, before any testing this will take off, what ****wits like persimmon say.

I haven't looked forward to the markets opening so much for years. Should be a very good week.

It didn't look like a 'follow the money' type decision for those who invested on Friday, smokie. That is normally accompanied by hundreds of bb posts, twitter mania and media coverage. In my view a few brokers got a tip off and rang around their client lists to see if anyone wanted to get in before the obvious rise.
I haven't seen any mention of Reabold on any of the Covid related bulletin boards, so why would they even know about Reabold if they are new to investing?

https://www.brrmedia.co.uk/broadcasts/5ec7d8eb31da814c9fc76055/reabold-resources-west-newton-update

Good to remember what a bargain Humber's 16.67% of West Newton was. There's been a lot of progress since then too.

Passer. Please explain why this is at 'Resistance point', and the next 'Resistance point' will be 0.88 ish? And things look 'generally good'.
The share price is currently rerating. At this point in the drill operation phase the share price should already be over 1p, and before the time results of WNB-1 come in the share price should rise to 1.8p. After that... who knows...depending upon the results. But as far as resistance points are concerned, you can shove yours you know where, and I hope it resists good and proper.

Woop woop!

RNST, you may be right about a number of your points, but the reason it was terminated early had nothing to do with H2S. It was because condensate reached the incinerator from what I understand. So there probably was a degree of testing - at least enough to convince them to commit to drilling WNB before concluding the test at WNA-2.
imo

artyth, I think he's more of a .un.
Or maybe both.

ttaa, tbh persimmon was clearly close to orgasm when highlighting Exploration's perfectly worded seed of doubt. Personally I find them both equally untrustworthy, but Exploration has the edge when it comes to intelligent deramping.

Persimmon, your last post seems to back up BlackHopper's point perfectly.

More cheap opportunities for Reabold in California then!

Exploration, just because some crusty said they could smell something horrible I can't see the point in wasting time discussing it as though it were true. It was investigated by the EA and proven to be fake. It was probably the crusty's armpits anyway.

From my experience the 'keep it in the ground brigade' will fabricate anything to cast doubt on a drilling operation. All they need is the EA to investigate and someone to run with it on the bulletin boards and they've achieved something, pathetic as it may seem.
I believe the EA found nothing of concern at the time. I thought it was WNA-1, not 2?

Indeed krull, but that is their strategy - to buy into the private company rather than the licence. Well, that is until they bought Humber's 16.67% of course. Which goes back to JackDiamond's point:
'I think taking Humber out, and still retaining their interest in the WN license, was an excellent move. Not only do we have a much larger slice of WN, but RBD can also demonstrate to the FCA that we definitely fall outside of PRIIP and have been Miss classified due to taking a direct license interest.'