Member Info for Uggy100

RNST
On several occasions DB has stated that, in the event of WN being successful there is no way the JV partners would even attempt to take the project into production it would be sold. That being the case in say 6 months any funding requirements would be unnecessary. Hopefully UJO will be awash with cash. FWIW I'm still bullish about Cadeby, I've convinced myself it's full of light, mobile oil !

Well in retrospect this deal has been known about to the people in the know since mid june at least. Is it a good deal ? for me no. RBD's last foray into NS assets via Corallion didn't end well did it, what about Curlew & Oulton ? conveniently disappeared. DELT's assets seem more wildcat to me & offshore drilling is massively expensive. Conditions are unlikely to change in the near term & if WN were to come in then we would be in a position of strength to take them out whenever we chose. The RBD business model was to bring near term projects to fruition which they have yet to do, not further dilute investors who believed in them. To me it has become increasingly clear they do not care about creating value for existing shareholder, rather pursue their own agenda.
I look forward to their next podcast telling us the deal is value accretive, bullkaka I'm afraid.

Rubey

For what it's worth Rathlin et al may think that it's fantastic. But the EWT success is what is required. Nobody knows for sure until it's tested.

Selfish, ticked your post up & couldn't agree more.

Put Persimmon in the green coffin, best place for him.

Persimmon, put a sock in it you waste of space.

Bloodshot
Another saying from the X-Files was "trust no one" always dyor.

O2B
If the WN project is successful I think you're looking at a target price way in excess of 1.5p. If Cadeby comes in (as I think it will) then the skys the limit really. My fag packet calcs are that WN alone will prove to be at the upper end of Rathlins expectations, say 250mbbls OIIP, using a recovery factor of 30% (I think S.P.Angels 25% is a bit stingy due to modern drilling practices) plus the gas gives you 100 mbbls recoverable give or take. It's onshore so much cheaper to develop which leads me to believe $10 per bbl of recoverable is attainable. Adds up to a fair amount.

Spike, 50mbbls recoverable in the event of a successful EWT & drills is very much on the low side don't you think ? That's not including Cadeby which I'm very bullish about.

Yes Genghis, I get up every morning expecting an RNS on either WN EWT, WN B-1 or Parta. I'll be right very shortly I'm sure.

And hopefully Parta as well. The EWT at WN2 must be imminent also I would think.

As the weather has been so good you would expect the site works to be completed at the èarlier part of their timeframe.

I certainly agree that RBD is massively undervalued currently. I'd buy some more but have strict rules on exposureto any one share. I learned that from the disaster that was XEL

I hold far more RBD, UJO gives me some exposure to Biscathorpe which could be a nice project.

adv11. Couldn't agree more, I hold RBD & UJO & some of the antics on the latter bb I find deplorable.

A fairly muted response for what I consider to be a fantastic RNS. Anyway had to top up with some more today.
Is it just me that feels there is now a massive disconnect between RBD & UJO value wise ?

CS isn't invested here, he's just trying to sow seeds of doubt. AVCT now valued at £390 ????? without having sold a bean. All the arguments he used in his last post apply to them as well so where would that sp go ? He's a tool & should be treated like one.

With the revenue they will be generating there is absolutely no reason to consider a placing.

Yes it's carp re the price feeds here. In this day & age it would be simple for them to get live time prices.

Buying a producing asset is not part of their business plan.