Member Info for Simon_Said

Persimmon. You are trying to be very subtle and clever but the way you dropped my name and Chris's this morning is skirting very close to the wind again. Your implication is not very subtle. This is what got your posts removed last week (and I believe you had a short ban), and I am warning you once again not to make defamatory accusations or implications. You can decry innocence all you like, just stop doing it.

I've been reading and re-reading, but the thing that really explained today's RNS to me was actually the video they've put out with it:

https://www.brrmedia.co.uk/broadcasts-embed/5bd871c1e52d57218b9a2329

If you watch the second question/answer, Sachin reveals all. This is about taking advantage of the high oil price by prioritising oil wells, and pushing Grizzly Island which is a gas target back to next year. This is very sensible!

It's funny because people on here talk about Reabold like it's a 'jam tomorrow' company, but actually the entire business model is about fast cash generation. They buy assets that are right on the cusp of drilling 'that last appraisal well' (as S&S put it) and take advantage of the market's current weird current state of putting extremely low value on pre-production assets. The problem does not persist once solid production is established as more risk-averse investors and institutions then arrive.

This whole business is very new and those who have been here a year and are sore at a lack of SP progress must remember that most of the assets were acquired much more recently, and almost none have actually drilled yet. It's just getting started now and the 'delays' we're talking about so much are paltry in the scheme of things. If you bought these a year ago you must have known you were buying super early and the attendant risks of doing so.

All to play for.

Report your posts using the desktop site Ant, you can write a message to admin there to get it all removed.

Tons more progress to go for the SP just to recover, and all the operational progress we're expecting is imminent ($4bn pipeline of fresh EUS).

Lol 'ColinH100' is your username a sign that you're a fellow AST refugee?

EMH is a class above.

I have contacted the site admin and your posts have been removed. Defamation is over the line.

I made a mistake earlier - the *rig* is on hire to Petrofac, not the boat.

Noise - don't admit fault, that's against LSE rules :p

I emailed Keith to find out why we had no new information today. Turns out we've all misunderstood today's RNS:

'A quarterly report is a standard requirement of ASX. It is a summary of activities and cash flow for the previous quarter. It is not supposed to contain any new information and is not allowed to be a marketing document.'

So they literally couldn't - it has to be retrospective.

Cheers Sharon. I have read this about Petrofac before, seems quite pointless reading the movements till then. Presumably till then we'll see the boat zig zag around and Twitter and LSE collectively wet itself.

Sorry chaps but it is kind of funny. As I said, perhaps boat captain is trolling!

Boat captain is reading this forum and yanking the steering wheel, laughing.

Yes absolutely - many very near term announcements that will raise the Mcap, and sufficient cash till then. We're talking tiny amounts of time here.

It's really the wrong thing to focus on right now given we're at the cusp of massive activity and progress. I look forward to more of our board regulars' take on today's releases.

Given the huge activities about to take place, no doubt the company will look to other finance methods to patch this incredibly short period before real action brings the share price significantly up. If the dilute it'll be the absolute minimum they can get away with. Why would Keith want to give away any more of the company than necessary at this tiny Mcap?

Lol... You don't think that maybe, just maybe Corallian did some due diligence and figured out the answer to this before parting with millions of pounds? This board is mad these days.

I think it is deeply unlikely they would wish to derisk when exposure to that risk was the entire purpose behind their taking equity over cash, or a mix of equity and cash which would have had the same effect. It's also not entirely clear the purpose of derisking at that stage given not only how diverse the Californian assets are, but the broader diversity of the Reabold portfolio that underpins the share price, and is all being actualised in the near-term. This asset diversification is of course what attracts many of us to this share in the first place.

That rider about 75% was likely to appease the market and Reabold's institutional investors as it creates a sense of stability. The only benefit to Gaelic would have been if the shares had boomed earlier on and they wanted some near-term cash. That didn't happen, so I don't see why they'd be out now.

Oh one last point. I notice a few people suggesting once again that Gaelic Resources are selling their Reabold shares. It's tiresome having to make this same correction so often but I suppose these must be new investors coming on board, so I shall dispense it again...

Stephen and Sachin have previously reported that Gaelic asked for shares rather than cash for their company (and assets) when they sold to Reabold. The reason was that they were very confident in their assets, but the cash value was low due to the way markets currently give little value to pre-production conventional assets (in the USA everything is about unconventional, AKA fracking etc right now). Thus Gaelic preferred to take equity, so that when the assets perform as they know they will, they will then be able to share that success and enjoy the increased value of their equity.

The idea that they would be selling now, when only the 'bonus' workovers have actually gone on production and before the bulk of the larger projects are even spudded, is thus obviously not logical.

Astonishes me how people are this obsessive and worried at this time. Everything is going very nicely and the daft share price movements have no basis in real events. Unless you believe shareholders are somehow psychic or somebody has some killer insider information and is using it to break the law, then really you ought to take Occam's Razor to the matter and remember that most studies find around 90% of private investors lose money. This is a typical example of why: They make silly decisions and sell at the wrong times.

Make all the pithy comments and aimless speculations you like - the fact is not a jot of information has come out that puts the near-term nature of any of these projects in jeopardy. Everything appears to be progressing well.

UK: Given the OGA has approved far more controversial projects than either Colter or Wick recently, and the most tricky stage of all that (environmental permissions for Colter) has now been resolved, any further raising of concerns is either neurosis or deliberate stirring.

California: West Brentwood turning into something altogether bigger than previously expected and other drills in the state swiftly oncoming. As regular readers here know, Cali is by far my personal preferred Reabold project area.

Romania: The 'delay' story was bogus as there are mentions of Q4/Q1 in lots of documents and presentations going back months. The real story is that the project is approved and happening early next year, and the fact remains that this is a previously-produced field and thus substantially derisked. There is massive development potential to. This is known to be Stephen Williams' favourite project among the Reabold portfolio.

I'm extremely relaxed about this share now, which is why I am posting less. This forum can be great but can also breed impatience and neurosis and can create the impression of greater stretches of time passing than really have. Reabold only acquired many of these projects very recently, and the 'delays' being mooted are either bogus or merely minuscule in the scheme of things (and 'slippery slope' arguments are a slippery slope).

Daft comments like 'the share price talks' or 'we were higher at X time' really don't deserve replies anymore. Everything is very much stacked for near term action, and should be sufficient for anyone except the most erratic of traders.

The current share price is erroneous and that shouldn't surprise us. If anyone listened to the interview with Sachin last week, he talked about how Reabold is designed to capitalise on the market's poor record of mispricing pre-production assets and only attributing value at the very end, which is why they buy projects at that point (Sachin refers to this colloquially as 'that last appraisal drill'). Thus, we shouldn't be altogether surprised when we actually see this happen. Given the late stages that these projects are at, we should also be unsurprised to see this swiftly corrected very soon.

What a desperate little deramp Sharon. Sorry to disappoint you but Colter is now approved and in any case the personal consent of Greg Clark is not relevant here. You're not even trying anymore.,

Environmental permissions have passed successfully. https://t.co/hq96v8Hte0?amp=1