Member Info for Rubey

I'd be surprised that if Humber do decide to unload their shares, there wouldn't be an II ready to take the lot. Much cheaper than buying on the open market, and better in the short term for Humber. S&S have all the right contacts of course. Maybe updated 8.3's with 350m shares added?

GP, Humber may have had good reason to dispute paying their full share of the Biscathorpe back costs. If I remember rightly the well was initially considered to be a failure until Graham Bull looked at the results. The well had been sealed, which would account for the side track being required. As Egdon were operator any error of judgement could be their responsibility, and Humber may have grounds for complaint accounting for the 'settlement agreement' to be required. This agreement could be structured so Humber get a free carry on the side track, and there may be little pressure on them having to sell RBD shares?
Only speculation of course. Humber may have plenty of other commitments.

I assume that's why they secured the £5 million discretionary cash facility , as cover in case the available cash didn't stretch far enough.

Don't be a prick fairdealer. Most RBD shareholders want sweet FA to do with Deltic, at any price. Shell have Deltic by the balls, contracts signed, drill IF Shell ever wish to do so and there's nothing DELT BoD can do about it, apart from take their nice fat salary cheques.

BMC77, I must admit I make £10k spent in each:

UJO 0.0037%
RBD 0.0127%

Therefore every penny spent in RBD provides nearly 3.5 times the share in West Newton that you would get from every penny invested in UJO (assuming the OGA sign off the Humber deal).

Doorstop.

https://www.investegate.co.uk/reabold-resources--rbd-/rns/form-8--opd----reabold-resources-plc/202007231200019143T/

I see you are still here Ian. Recommending the occasional negative post.

Sorry I'd not replied earlier Ismalia. Just got back in.
All, I can say is thank you to miker444. Perfectly put, and sums up my opinion precisely.
I have no interest in deramping Deltic fairdealer. The fact is I don't want my shareholding of West Newton diluted at all - even if the offer was halved it wouldn't appeal to me.
But you will know far more about Deltic's prospects than myself. I'm happy with what I've got, unless I'm given a very good reason why it should change.
But good luck, sincerely. We all need it, that's for sure.

Already added them BH. lol. Just a shade under 3%.

Ismalia, as a Reabold shareholder I certainly hope RBD withdraw their offer completely.

Come on RBD, get this OGA RNS out please, everyone seems to have been told except us!

This is very nice. I wonder what's happened?

Which is awaiting O&G Authority approval. Just a matter of time.

Nice little bungalow Ian. I've found you live just around the corner from me! That's nice, isn't it.

Utter rubbish 'Exploration'.

Taken from the UJO bb (Mixster), a section of Graham Bull's presentation at the UK Investor Show, 2019 (one of my favourites).

https://www.share-talk.com/west-newton-a-2-what-you-are-looking-at-if-offshore-reserves-onshore-2-2-2/#gs.b9d1md

Thanks for your thoughts CB & GP.

Having refreshed my memory today on everything I can find about West Newton, I really can't understand why the BoD appear to have been considering what was in effect swapping 23.8% of Reabold's assets in exchange for 76.2% of Deltic's assets. Deltic are at the mercy of Shell, who are looking at shelving projects, so potentially all Deltic have to offer is £12m cash. Would we really want to raise £12m cash based on our current share price? There would have to be a pretty good reason in my opinion. I like being in the position I currently am - 0.3% shareholder of 56% of West Newton - I don't really want to go down to 0.23%.

He's a clever and genuine man from what I know about him.

GP - there was a rumour that, although the EWT for WNA-2 was designed for gas, condensate reached the gas incinerator which meant the test had to be shut down and re-designed. Considering your description of the varying physical state of condensate, this rumour may well have legs.