RE: Hello Simon2 Nov 2024 13:58
Afternoon Mr10.
1, Parta Is a valuable asset, but it is difficult to put an accurate monetary value on it at present, RBD have sunk £5 million into it via their holding in Danube Petroleum which is co-owned by ADX.
There is a hiatus there at present as ADX are concentrating on developing their Austrian portofolio whilst investigating whether they can apply for and receive a EU grant which will help fund the development, gas has been discovered and several of the surrounding villages are intrusted in them developing geo thermal heating, hopefully we might get a bit more meat on the bones this year or beginning of next.
2. No I don't believe there is any value there now under the current tax regime, the licence of the best asset Dunrobin was handed back by the operator as they were unable to secured 3d imaging and had run out of time as it was condition of retaining the licence they were in a long queue along with many windfarm developers.
It is a shame as all of the licences have reasonable discoveries of oil, but farming them out or bringing in a partner is nigh impossible at present.
3. Daybreak is a train wreck and impossible to put a value on as they have consistently failed to file their tax returns and we have no idea what is being produced in what quantity at what price and from where.
We have no timeline on the additional ten wells that were due to be drilled and also on the settlement date of the Mayflower wastewater well court case.
Until we have any of these details it is impossible to attribute an accurate valuation on Daybreak.
Regarding posting during the week I simply don't get the time to post sensibly.
These are some of the problems the market and potential investors has on placing a fair and accurate value on the RBD as a whole of which the management are acutely aware so have just gone with the flow and placed a zero valuation on them for market purposes even though they don't agree.
A.T.B
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