Member Info for SelfishMcNimby

I can't wait to find out what's at North Cadeby!

GP, they couldn't stop him buying - in such circumstances they would go to brokers who would then go to their clients, so there's a disconnect between DB/the NOMAD and potential placees (unless bought direct through the company).
But I've got some washers if he needs them. I removed them from my outside toilet the other day - they dropped in years ago. He's more than welcome to them.

How many went off a cliff edge at 2.30pm Manwell?

Both RBD and UJO started to nose-dive after 2.30pm. Clearly West Newton news leaked to certain big holders, and they decided to dump. 7am RNS looks a certainty to me.

It's been like it a while Mazza. I think it must be some computer malfunction which requires constant correction. A little annoying - you just have to look at the proper trades and ignore the chaff.

UJO Mcap £30m - 17% of West Newton
RBD Mcap £42m - 56% of West Newton

Why hold both? Their other assets are like for like. RBD are currently miles undervalued in comparison, and UJO are a target for market abusers.

I think investors are wary Chrisoil and his group are behind the rise, and the price will suddenly crash leaving them high and dry. We've already got the T-shirt.

UJO market cap is nearly £30m. RBD is £42m.
UJO have Biscathorpe (an unknown quantity) and Wressle which will produce 137 bopd.
RBD have Parta (awaiting EWT) and California assets producing 140 bopd (from website).
Pretty similar so far, I'd say. But the big one, as we know, is West Newton.
UJO has nearly 17%.
RBD has 56%.
I'd say something is wrong with the respective market caps. RBD should, in my opinion 2 or 3 times whatever UJO is, so either UJO is too high or RBD is too low. In due course the market will correct this imbalance, so I think now is a good time to buy RBD, so I am.

On a day when we've bought the equivalent of UJO's share of West Newton for £3.5m, their market cap has gone up £2.5m and RBD remains flat. Either UJO is grossly overvalued or RBD got a fantastic bargain which isn't being reflected in the share price.

They have £5.5m banked. This apparently covers Wressle production and WNB drills and testing, if I understand correctly. WNA EWT is paid for. That should leave nothing for admin (£1.7m last year) and Biscathorpe side track.

I suspect Chrisoil is buying back in. That's the sort of rise you don't want.

'The aim would be to get that second B well producing hydrocarbons, generating revenue, then really following on that pathway that we have demonstrated that we have been able to execute in California, so this is following in that pathway along those footsteps but with a much, much larger value contribution to the Reabold shareholder.'

Sounds good to me.

Where did that 'e' come from?

If the whole project is worth £1bn, the sale price imo would be £500m. Why sell if you can produce? I'de assumed they'd sell once the licence was fully proved up, but maybe not?

But I don't think it is a bluff necessarily, artyth. They have a bit of production experience, great JV partners and loads of institutional interest. A good platform to start from with plenty of options.

Apologies Harry, my post was meant as a reply for you too.

Artyth, perhaps part of the negotiating strategy to any interested parties (a hint at INEOS maybe) that, if they don't offer enough, we'll do it without you?

A California update from Reabold this morning where the VG-6 well at West Brentwood is now producing 350 mscf/d and has opened up a new play with additional follow-on targets. July-December 2019 saw Reabold produce circa. 25,000 barrels from California giving revenues of $1.4m with cash opex of only $13 pb. This confirms the excellent economics from Reabolds’ US operations and good to see it bulking up a bit.

Lucky, they state
'New play at West Brentwood field opened up, providing additional follow on targets.'
'Gas produced from VG-6 is being sold utilising the existing pipeline infrastructure'
That's fantastic news. Would anything make you post something positive?