Member Info for Simon_Said

Not fully convinced that's how it'll play out, but just in case I'm keeping some dry powder to pounce on anything. Such a massive drilling plan for this year (see the Sachin interview posted below), seems a perfect moment.

This interview with Malcy and Doc is probably the best summary I've heard in a while. Great stuff.

Lol - I just said "he'll keep on till he's wrong then move on to something else to troll about" - and 4 minutes later he posts random crap about dilution, because I just dismantled his argument. So predictable!

Good lord, you still at it Sharon? Still not found a more profitable exercise than trashing stocks you claim to hold? Can't help some people.

It's 58% CoS not 50% for starters, but set aside your ignorance of that and let's question your knowledge of how CoS works. There are 4 factors which are multiplied together as decimals. 58% suggests CoS of approximately 87.5% on each of those criteria.

He'll keep banging on about this till he's wrong and then change tack to something else to troll about. Useless.

Terrific write-up here. Malcy's always like the Reabold model and I know has long been keen to get some facetime with the CEOs. Good to see a more lengthy piece now that he's had his chance to drill them properly (pun not intended but happily acknowledged).

Between this, the Turner Pope presentation, and the very helpful reminders of how CoS work on this forum this week, I'm feeling very upbeat.

Bonkers to be making these kinds of assessments this early on. We are very early in the realisation of the assets that capital was deployed on. Way too early to be talking about ROI. Sounds like many here were just after a quick punt for AIM fizz and then duck out before actual activity. The low value of pre drilled assets is exactly the market anomaly that brought Reabold into existence in the first place. It's no surprise to see it happening. The idea of the company is to prove this wrong with real results. As for monetisation being a ways off, the exit strategies for Colter and Cali are not known yet and people's ideas aren't gospel. The CEOs have said publicly they don't expect this company to exist for more than a few years and are all about fast value creation. They come from an investment background, not prospecting. This is a key time and not a single share leaves my hands till all this deployed capital is realised in real events.

Believe it or not, well spud timing is in fact not determined by RNS schedule! Could be intraday, could be any time. Sea conditions aren't ideal right now so they'll get things ready when it's safe to do so, for the safety of the crew and the environment.

This thread is great lol. Like super slow racing.

For anyone keeping track, having moved eastward away from land they're now turning south and picking up speed. Looks like both boats are tugs despite one being listed as supply.

Steady 1.5 knots as the 3 vessels make their way. Surprisingly fun to look around marinetraffic.com and see what's about!

Also occurs to me that these journeys would be an awful lot shorter if we just lobbed off Norfolk...

Hello all. A great RNS and interviews today, looking like a good few weeks/months to come. SP is in silly-land but market is still rather wet and traders are flitting around momentum trading, so not too worried in the short term. They are building real value here and I continue to hold.

Hope you all are well.

I'm still invested but dealing with some real life things and not doing stock stuff. Keep well all.

From the RNS:

'A further condition precedent of the investment is that Connaught has agreed to settle a liability of £33.8 million owed to it by Rathlin immediately on completion.'

In a success case for Colter, the license would likely be sold to a major and the cash likely distributed to Corallian's shareholders (so a windfall for Reabold). This would already likely exceed what Reabold paid for their stake.

I have no idea of the plan for Corallian's other projects, but given they are not listed and do not appear to be setting up as a long term production outfit, one assumes they probably intend to either IPO or to sell each asset after proving up and just keep pumping out cash. Shouldn't be too hard to sell a stake in a company like that.

In any case, you can be certain Reabold took a strong interest in this issue at the time of the investment and have a plan. They are not new to this game.

Fair enough analysister! I think in general the market treats CoS as if it's scientific whereas really it's based on pulling together numbers which are quite subjective. The truth is evaluating the technical risk of this kind of thing is very difficult. I assume companies evaluating project participation (in RBD's case indirectly) and any consultants they may employ will use their own measures and have their own views on risk factors.

Sadly I have lost the link but I remember once being sent a terrific article about CoS and why it tends to provide very low numbers due to the way it's calculated.

'Unrisked' is not like saying 'if I win the lottery'. It merely refers to a hypothetical success case on all assets. The risked value attributes circumstantial risk weighting in order to arrive at a target price that is representative of the company and its assets in their current state. The reality of results will obviously change this one way or another as those risk weightings are tested against the reality of the drill bit.

The chance of success across all drills planned is obviously not certain at all, but it's not in the realm of a lottery jackpot which is apparently 1 in 45,057,474. And of course this is not binary, the most likely case is a mixed set of results.

It is a risked target and weights against risks on certain projects. It is not a total value if everything works out positively. Unrisked is 11.4p. These are all just projections and real life investors are mental. So who knows!

Why, that's my favourite kind of course.

https://audioboom.com/posts/7073264-versarien-reabold-resources-and-union-jack-oil from 12m45s

I don't know anything about the OGA listing. I'm not actually as constantly involved in all this as you seem to think (I just have days where I dig in a bit and then get back to my life), and I don't look at that sort of thing very much. And I don't care about that particular issue at all, I don't think the name vanishing means they've suddenly abandoned a huge project, so I'm happy to chalk it up to admin weirdness and continue with my day.

It's not about 'wanting you banned' - I just want you to stop implying that I have some sort of connection to the company or speak for it in some way, all of which is flatly false.