The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
No more like this for us holders.
https://www.youtube.com/watch?v=8Pa9x9fZBtY
and for you
https://www.youtube.com/watch?v=q4g5kX12ais
That is why people know you are disingenuous as you never admit to the lies or mistakes you will never answer simple questions, never admit when you were wrong etc.etc.
This is going alot higher over the next day or two.
For observers once the Shell money comes in on Friday H and KS will disappear into the ether.
Best time to buy is when the de-rampers become hysterical and post day and night.
“to be fearful when others are greedy and to be greedy only when others are fearful.”
As you can see why someone would love to grab the company on the cheap and spin off all the assets, the current S.P is a joke.
I have deliberately ignored Daybreak as it is a train wreck and the deal was brokered by the chap who wants to take over the company and owns 40% of Daybreak.
Greater West Newton Area
In addition to the West Newton discovery, the PEDL183 joint venture has recognised multiple look-alike opportunities across the licence, providing significant follow-on potential for a development at West Newton.
These anomalies are:
Ellerby
Spring Hill
Withernsea
It is estimated these prospects contain a further c.360Bcf of resources and each have a 43% geological chance of success.
The Company anticipates that the significant learnings from the West Newton exploration program around drilling and completion techniques can be further leveraged at these targets which, if successfully tested, could be tied into West Newton infrastructure.
Reabold North Sea Portfolio
NORTHERN AREA LICENCES
SOUTHERN AREA LICENCES
Licence Overview Map Updated July 2023 002
Northern area licences
Reabold is Licence Administrator for three licenses in high-impact areas in the UK continental shelf.
Inner Moray Firth (Licence P2478) – 36% working interest
East Shetland Basin (Licence P2504) – 100% working interest.
West of Shetland (Licence P2605) – 100% working interest.
All three operated licences are located near existing infrastructure or analogue fields. There are significant prospective resources and opportunities to create value. The Company believes that the prospects represent low to moderate geological risk with relatively low drilling costs and are strong candidates for farmout opportunities.
N North Sea Updated July2023
Inner Moray Firth (Licence P2478) – 36% Working Interest
Dunrobin West Prospect
Estimated prospective gross Pmean recoverable resource of 71 Mbbls of oil in Jurassic with a 34% chance of geologic discovery (Pg) per the CPR
Scoping Pmean economics suggest a gross unrisked NPV10 of £691 million (£249 million net to Reabold), based on an oil price of US$70/bbl
Dunrobin Central & East Prospect
Estimated prospective gross Pmean recoverable resource of 22 Mbbls of oil in Jurassic reservoirs with a 31% Pg per the CPR
Scoping Pmean economics suggest a gross unrisked NPV10 of £170 million (£61 million net to Reabold), based on an oil price of US$70/bbl
Triassic reservoirs provide upside in both Dunrobin West (gross Pmean 45 Mbbls, Pg 12%) and Dunrobin Central & East (gross Pmean 22 Mbbls, Pg 14%), both from CPR
Initial scoping indicative drilling cost of £8.6 million gross, to test both Jurassic and Triassic targets
Golspie Prospect
Estimated Gross Pmean prospective resource of 14 Mbbls in Jurassic reservoirs with a 27% Pg per the CPR
Scoping Pmean economics suggest a gross unrisked NPV10 of £88 million (£32 million net to Reabold), based on an oil price of US$70/bbl
Triassic upside unrisked prospective gross Pmean recoverable resource of 23 Mbbls with a 12% Pg per the CPR
East Shetland Basin (Licence P2504) – 100% Working Interest
a) Jurassic oil play: Oulton oil discovery and Oulton West prospects.
Oulton Oil Discovery (P2504, Block 3/11a)
Oulton West Prospect (P2504, Block 3/11a)
b) Eocene Frigg gas play: Oulton West Ecoene prospect exhibits seismic amplitude anomalies analogous to the nearby Nuggets Fields
West of Shetland (Licence P2605) – 100% Working Interest
Laxford Gas Discovery
Scourie Prospect
Southern area licences
In January 2023, Reabold completed the acquisition of Simwell Resources Limited.
The work undertaken on the Simwell Southern North Sea licences provided the Company with valuable data and added to our understanding of the Zechstein play, which is fundamental to our West Newton and Crawberry Hill assets onshore.
The Company has retained the P2486 licence from the Simwell acquisition as the operat
Note the last words in the last paragraph.
Reabold has invested a total of £5 million in Danube Petroleum Limited (“Danube”) to date, for a 50.8% equity interest.
Danube has a 100% interest in the Parta exploration licence and Iecea Mare production licence in Western Romania, which includes the IMIC-1 discovery and the IMIC-2 prospect.
As announced on 9 September 2019, the IMIC-1 well was successfully drilled and evaluated, encountering gas across three zones with a 20 BCF 2C contingent resources estimate.
Parta 1
Danube continues to seek further industry funding through farmout discussions with third parties for both the exploration area (Parta) and the production licence (Iecea Mare) for infill opportunities. A number of very low risk oil and gas infill and side-track opportunities have been identified within the licence area. The operator has also commenced investigating geothermal opportunities within its Parta Exploration and Iecea Mare licences. The very high geothermal gradient (6 degrees/100 meters) in several parts of the Parta licence could make electric power generation from geothermal energy feasible and given the very high trends in electricity prices highly economic. The operator has been approached by several local communities in relation to geothermal projects mainly for district heating, given its drilling experience and extensive 2D and 3D seismic database in the area. This energy source is expected to receive increasing investment funding in Romania from the EU.
Permits being granted for the Colle Santo field development. This is at a time when there is an increased focus on energy security in Italy and a more favourable regulatory environment.
Happy days.
Yoiu got to be in it to win it.
It even better for Colle Santo they will be producing by next year and it is bigger than West Newton.
See the latest.
Reabold owns a 18.4% equity interest in LNEnergy.
LNEnergy is a private, UK registered company with extensive industry experience in Italy.
LNEnergy’s primary asset is an exclusive option over a 90% interest in the onshore Colle Santo gas field in Abruzzo, Italy, discovered in 1966.
Colle Santo is the largest onshore proven undeveloped gas field in mainland Western Europe with 65Bcf of gross 2P reserves (RPS estimate, September 2022)
The project is development ready, subject to permits: two wells have already been drilled and no additional drilling is required
The project is a low risk, small scale LNG development concept, with first gas targeted for 2025
The increased investment in LNEnergy supports the development, engineering and approvals process prior to debt financing to bring the project to first gas.
Colle Santo has the potential to generate an estimated €11-12m of post-tax free cash flow per annum according to LNEnergy Management estimates, at 9 mmcf/d sales gas and €45/MWh.
The Colle Santo gas field – project overview
Colle Santo is a well-appraised field ready for development
Seven out of eight wells drilled have produced gas during testing
The field is covered by 2D seismic shot between the 1960s and 1980s, with good well control
Two wells (MP-1 and MP-2) have already been drilled and are ready for production. The wells have a combined test rate of 20.5 mmcf/d, and minimal geological risk.
The LNEnergy project page can be accessed through the following link: www.sviluppocollesanto.it
Colle Santo
Gross reserves: RPS Energy CPR, October 2022
Sales gas (Bcf) Sales Gas (mmboe)
1P 56.8 9.5
2P 65.3 10.9
The development plan
The development plan for Colle Santo will produce small-scale LNG in conjunction with proposed contract operator Italfluid, to produce initially at 10 mmcf/d from the existing two wells with 20+ years of ultimate production. Italfluid is a private Italian, integrated EPC contractor with 45 year industry history. Italfluid will build and operate the plant and provide the LNG equipment for up to 48,000 tonnes per year.
The LNG will be trucked a short distance (7 km) to an entry point into the SNAM transmission grid and there will be on-site CO2 capture of 1,400 tonnes CO2 equivalent per year.
Colle Santo is a well invested, proven discovery gas field ready for development. Historical operations were suspended due to the unpopular large footprint development plan.
The approval process
The previous development concept (2016) involved a large footprint that was unpopular with the local community. The revised small-scale LNG development has smaller land footprint and strong environmental credentials. The project has strong environmental credentials, including CO2 capture and hydrogen production.
Reabold has undertaken significant due diligence work,
One Uggy for W.N B
See below their latest update and for any newbie investors this where we are at present.
REGULATORY UPDATE
On 23 August 2023, the Environment Agency (EA) issued the variation of the permit for the West Newton A wellsite which was applied for in July 2021. The variation of the West Newton A permit provides for the production of hydrocarbons as well as the drilling of the six additional boreholes and includes the use of oil-based mud within the Permian age formations at the West Newton A site.
A minor variation to the West Newton B permit, to provide for the use of oil-based muds within the Permian formations, is currently being reviewed by the EA.
OPERATIONS UPDATE
Plans for the proposed horizontal well from the West Newton B site are underway.
Well path selection and the engineered well design have been completed. Wellbore casing has been purchased and Rathlin Energy (UK) Limited has approached drilling rig and other key rig service contractors to determine their availability.
Commencement of operations are targeted for first half of 2024 subject to approval of the pending Environment Agency permit for West Newton B and rig availability.
FIELD DEVELOPMENT
The 2022 Annual Digest of United Kingdom Energy Statistics (DUKES) figures recently released by the Department for Energy Security & Net Zero show that the UK still has continuing dependence on hydrocarbons and imported energy.
Natural gas made up 38 per cent of total energy demand* and close to two thirds of domestic (household) demand* in 2022. Natural gas continues to play a very substantial role in the UK energy mix for electrical generation and domestic purposes.
Domestically produced natural gas is, and will remain, a much-needed part of the energy mix as the UK seeks to reduce its reliance on foreign gas, whether delivered by pipeline or as LNG in oceangoing tankers.
The North Sea Transition Authority indicates that domestic UK gas production has less than a quarter of the Emission Intensity of imported LNG*. This is particularly important, as the UK seeks to reach its Net Zero 2050 targets.
The West Newton discovery, along with the other prospects Rathlin Energy (UK) Limited has identified in PEDL 183, have the potential to provide up to 1 TCF of domestically produced natural gas within the immediate Humber area. The gas from the West Newton field could potentially provide locally sourced feedstock for the blue hydrogen developments being planned within the Humber Estuary.
The anticipated recoverable gas resource at West Newton will have the potential to meet the daily gas demands of over 380,000 homes in the UK for many years to come – based on OFGEM data indicating that an average three-bedroom UK home consumes 7.9 Kwh/day of electricity and 32.9 Kwh/day of natural gas*.
Morning all only two more sleeps to go, it is getting exciting .
Uggy the last we heard from Rathlin they were checking out rig availability and securing all the outstanding permit's so it should really be full steam ahead once the cash comes in.
Really Heidi.
KyleSnyder
Posted in: RBD
Posts: 136
Price: 0.095
Strong Sell
RE: Friday night last thing5 Nov 2023 16:45
Bull run? Are you on crack? Why do you expect us to go on a bull run? Are you expecting the Italian permits to come in or is it just the Shell money? I can't see it multi-bagging on the Shell money alone as £4 million of it is already committed to shareholders and don't they need the rest for license commitments?