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  • 10 Dec 19
Oil & Gas Daily Flow

Gulf Keystone Petroleum (GKP LN): Strong trading update, additional buyback initiated | Reabold Resources (RBD LN): Drilling the VG-6 well commences, onshore California | Eco (Atlantic) Oil & Gas (ECO LN): JV Partners secure the Orinduik licence for a further three years | SDX Energy (SDX LN): South Disouq stabilises at 50MMscf/d, three months ahead of schedule | Falcon Oil & Gas (FOG LN): Horizontal drilling of the Kyalla 117 N2-1H appraisal well commences

Companies: GKP RBD ECO SDX FOG

  • 10 Dec 19
Oil & Gas Daily Flow

Gulf Keystone Petroleum (GKP LN): Strong trading update, additional buyback initiated | Reabold Resources (RBD LN): Drilling the VG-6 well commences, onshore California | Eco (Atlantic) Oil & Gas (ECO LN): JV Partners secure the Orinduik licence for a further three years | SDX Energy (SDX LN): South Disouq stabilises at 50MMscf/d, three months ahead of schedule | Falcon Oil & Gas (FOG LN): Horizontal drilling of the Kyalla 117 N2-1H appraisal well commences

Companies: GKP RBD ECO SDX FOG

  • 22 Nov 19
Oil & Gas Daily Flow

Reabold Resources (RBD LN): Reabold increases its stake in Danube | Coro Energy (CORO LN) – Low gas saturations encountered in deeper sections at Duyung | Mosman Oil & Gas* (MSMN LN) – 12-month suspension of the Year 3 work program approved

Companies: RBD CORO MSMN

  • 22 Nov 19
Oil & Gas Daily Flow

Reabold Resources (RBD LN): Reabold increases its stake in Danube | Coro Energy (CORO LN) – Low gas saturations encountered in deeper sections at Duyung | Mosman Oil & Gas* (MSMN LN) – 12-month suspension of the Year 3 work program approved

Companies: RBD CORO MSMN

  • 13 Nov 19
Reabold Resources - Romania Update
reabold-resources-romania-update-13-11-2019
  • 13 Nov 19
Reabold Resources - Romania Update
reabold-resources-romania-update-13-11-2019
  • 11 Nov 19
GMP FirstEnergy ― UK Energy morning research package

Parex Resources (PXT CN); BUY, C$33.00: 3Q19 results, 2020 guidance roll-out reveals better than anticipated FCF | Chevron (CVX US) (not covered): Exiting Malampaya | Union Jack Oil (UJO LN) (not covered) & Reabold Resources (RBD LN): Upgraded volume estimate in the UK | Genel Energy (GENL LN); Speculative Buy, £3.20: Somaliland farm-out process | Aminex (AEX LN) (not covered) & Solo Oil (SOLO LN): 2020 capex budget in Tanzania

Companies: PXT CVX UJO RBD GENL AEX SOLO

  • 11 Nov 19
GMP FirstEnergy ― UK Energy morning research package

Parex Resources (PXT CN); BUY, C$33.00: 3Q19 results, 2020 guidance roll-out reveals better than anticipated FCF | Chevron (CVX US) (not covered): Exiting Malampaya | Union Jack Oil (UJO LN) (not covered) & Reabold Resources (RBD LN): Upgraded volume estimate in the UK | Genel Energy (GENL LN); Speculative Buy, £3.20: Somaliland farm-out process | Aminex (AEX LN) (not covered) & Solo Oil (SOLO LN): 2020 capex budget in Tanzania

Companies: PXT CVX UJO RBD GENL AEX SOLO

  • 11 Nov 19
Reabold Resources - West Newton Update
reabold-resources-west-newton-update-11-11-2019
  • 11 Nov 19
Reabold Resources - West Newton Update
reabold-resources-west-newton-update-11-11-2019
  • 10 Oct 19
Reabold Resources - Placing to raise £24m
reabold-resources-placing-to-raise-24m-10-10-2019
  • 10 Oct 19
Reabold Resources - Placing to raise £24m
reabold-resources-placing-to-raise-24m-10-10-2019
  • 09 Oct 19
Oil & Gas Daily Flow

Gulf Keystone Petroleum (GKP): Share buyback – an appropriate use of capital? | Reabold Resources (RBD): Reabold completes £24m placing | JKX Oil & Gas (JKX) – Production up 13%, highest oil output in Ukraine since 2013 | Zenith Energy (ZEN): C-37 Production Increases to 285bopd

Companies: GKP RBD JKX ZEN

  • 09 Oct 19
Oil & Gas Daily Flow

Gulf Keystone Petroleum (GKP): Share buyback – an appropriate use of capital? | Reabold Resources (RBD): Reabold completes £24m placing | JKX Oil & Gas (JKX) – Production up 13%, highest oil output in Ukraine since 2013 | Zenith Energy (ZEN): C-37 Production Increases to 285bopd

Companies: GKP RBD JKX ZEN

  • 09 Oct 19
GMP FirstEnergy ― UK Energy morning research package

Pan Orient Energy (POE CN) (not covered): Operations update in Thailand | OMV (OMV AG) (not covered): 3Q19 trading update | Reabold Resources (RBD LN) (not covered): Raising £24 mm of new equity | Solo Oil (SOLO LN) (not covered): RTO in the North Sea | JKX Oil & Gas (JKX LN) (not covered): 3Q19 update

Companies: POE OMV RBD SOLO JKX

  • 09 Oct 19
GMP FirstEnergy ― UK Energy morning research package

Pan Orient Energy (POE CN) (not covered): Operations update in Thailand | OMV (OMV AG) (not covered): 3Q19 trading update | Reabold Resources (RBD LN) (not covered): Raising £24 mm of new equity | Solo Oil (SOLO LN) (not covered): RTO in the North Sea | JKX Oil & Gas (JKX LN) (not covered): 3Q19 update

Companies: POE OMV RBD SOLO JKX

  • 08 Oct 19
Oil & Gas Daily Flow

Reabold Resources (RBD): Proposed Placing & Investments, strong read across for UJO | Regal Petroleum (RPT): Success at MEX-119 adds to production base | Jersey Oil & Gas (JOG) –Equinor doesn’t take up option over Buchan blocks, updated CPR | Lansdowne Oil & Gas* (LOGP): Brandon Hill increases stake to 21%

Companies: RBD RPT JOG LOGP

  • 08 Oct 19
Oil & Gas Daily Flow

Reabold Resources (RBD): Proposed Placing & Investments, strong read across for UJO | Regal Petroleum (RPT): Success at MEX-119 adds to production base | Jersey Oil & Gas (JOG) –Equinor doesn’t take up option over Buchan blocks, updated CPR | Lansdowne Oil & Gas* (LOGP): Brandon Hill increases stake to 21%

Companies: RBD RPT JOG LOGP

  • 08 Oct 19
GMP FirstEnergy ― UK Energy morning research package

Carnarvon Petroleum (CVN AU) (not covered): Strong flow test in Australia | Jersey Oil & Gas (JOG LN) (not covered): Equinor option to acquire 50% of the Buchan blocks not exercised | Reabold Resources (RBD LN) (not covered): Placing | United Oil & Gas (UOG LN) (not covered): Divestment in the UK | Cadogan Petroleum (CAD LN) (not covered): Trading update in Ukraine | Condor Petroleum (CPI CN) (not covered): Receives initial deposit for divestment of Kazakh assets | Regal Petroleum (RPT LN) (not covered): Drilling update in Ukraine

Companies: CVN JOG RBD UOG CAD RPT

  • 08 Oct 19
GMP FirstEnergy ― UK Energy morning research package

Carnarvon Petroleum (CVN AU) (not covered): Strong flow test in Australia | Jersey Oil & Gas (JOG LN) (not covered): Equinor option to acquire 50% of the Buchan blocks not exercised | Reabold Resources (RBD LN) (not covered): Placing | United Oil & Gas (UOG LN) (not covered): Divestment in the UK | Cadogan Petroleum (CAD LN) (not covered): Trading update in Ukraine | Condor Petroleum (CPI CN) (not covered): Receives initial deposit for divestment of Kazakh assets | Regal Petroleum (RPT LN) (not covered): Drilling update in Ukraine

Companies: CVN JOG RBD UOG CAD RPT

  • 03 Oct 19
Small Cap Feast


Companies: ABDP IHC BIRD JWNG WCH RBD FARN MIND EQLS CHRT

  • 03 Oct 19
Small Cap Feast


Companies: ABDP IHC BIRD JWNG WCH RBD FARN MIND EQLS CHRT

  • 02 Oct 19
Oil & Gas Daily Flow

Reabold Resources (RBD) - Completion of Increased Investment into Danube Petroleum

Companies: Reabold Resources
  • 02 Oct 19
Oil & Gas Daily Flow

Reabold Resources (RBD) - Completion of Increased Investment into Danube Petroleum

Companies: Reabold Resources
  • 26 Sep 19
Oil & Gas Daily Flow

Independent Oil and Gas (IOG) – 1H 2019 Interim Results, an active period for the company | Jadestone Energy (JSE) – The company completes Montara Umbilical replacement | Reabold Resources (RBD): West Brentwood Reserves Update | Valeura Energy (VLU): Successful gas flow test at the Inanli-1 appraisal well | Jersey Oil and Gas (JOG) - Interim Results for the Six Months Ended 30 June 2019 | Lansdowne Oil & Gas* (LOGP) – Interim results, focus on the future

Companies: IOG JSE RBD VLU JOG LOGP

  • 26 Sep 19
Oil & Gas Daily Flow

Independent Oil and Gas (IOG) – 1H 2019 Interim Results, an active period for the company | Jadestone Energy (JSE) – The company completes Montara Umbilical replacement | Reabold Resources (RBD): West Brentwood Reserves Update | Valeura Energy (VLU): Successful gas flow test at the Inanli-1 appraisal well | Jersey Oil and Gas (JOG) - Interim Results for the Six Months Ended 30 June 2019 | Lansdowne Oil & Gas* (LOGP) – Interim results, focus on the future

Companies: IOG JSE RBD VLU JOG LOGP

  • 23 Sep 19
Oil & Gas Daily Flow

Union Jack Oil (UJO) – Interim results, solid operational progress | Reabold Resources (RBD) – California Operational Update | Independent Oil & Gas (IOG): Award of UK 31st Offshore Round Licences | Prospex Oil and Gas (PXOG): Half Year Report, material cash flows in 2020

Companies: UJO RBD IOG PXOG

  • 23 Sep 19
Oil & Gas Daily Flow

Union Jack Oil (UJO) – Interim results, solid operational progress | Reabold Resources (RBD) – California Operational Update | Independent Oil & Gas (IOG): Award of UK 31st Offshore Round Licences | Prospex Oil and Gas (PXOG): Half Year Report, material cash flows in 2020

Companies: UJO RBD IOG PXOG

  • 09 Sep 19
GMP FirstEnergy ― UK Energy morning research package

Touchstone Exploration (TXP LN/CN)1 ; BUY, £0.25 : Very good results at the first Ortoire well in Trinidad | ExxonMobil (XOM US) (not covered): Selling Norway? | Hurricane Energy (HUR LN) (not covered): Well update in the UK | Independent Oil & Gas (IOG LN)1 ; BUY, £0.55: EUR100 mm bond issue | Reabold Resources (RBD LN) (not covered): Well results in Romania | Petro Matad (MATD LN) (not covered): Drilling results in Mongolia

Companies: TXP XOM HUR IOG RBD MATD

  • 09 Sep 19
GMP FirstEnergy ― UK Energy morning research package

Touchstone Exploration (TXP LN/CN)1 ; BUY, £0.25 : Very good results at the first Ortoire well in Trinidad | ExxonMobil (XOM US) (not covered): Selling Norway? | Hurricane Energy (HUR LN) (not covered): Well update in the UK | Independent Oil & Gas (IOG LN)1 ; BUY, £0.55: EUR100 mm bond issue | Reabold Resources (RBD LN) (not covered): Well results in Romania | Petro Matad (MATD LN) (not covered): Drilling results in Mongolia

Companies: TXP XOM HUR IOG RBD MATD

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Reabold Resources. We currently have 79 research reports from 5 professional analysts.

Open
0.74p
Range Today
0.73/0.74p
52 Week
0.53/1.40p
Daily Volume
10.5m
# Shares
6,685m
Daily Liquidity
(0.16%)
Pension Liability
£0m
Enterprise Value
£34.9m
Market Cap
£49.5m
Latest PE (hist)
Div Yield

Latest News/RNS

(more news)
Date Source Announcement
06Jan20 07:00 RNS Reabold California - VG-6 Update
23Dec19 07:00 RNS Romania Update
18Dec19 07:00 RNS West Newton Project Update
10Dec19 07:00 RNS Drilling Operations Commence at VG-6
02Dec19 07:00 RNS Exercise of Danube Options
27Nov19 13:36 RNS Holding(s) in Company
22Nov19 07:00 RNS Subscription for new shares in Danube Petroleum
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  • 17 Jan 20
'Excellent’ year for Health

Cello Health has confirmed that it expects to report FY 2019 results in line with the consensus on an IFRS 16 basis. The Health division has seen strong like-for-like growth in net revenue, well ahead of plan, and an expanding operating profit margin, partly offset by a weaker performance by Signal. H2 cash flow was strong and the group was in a strong net cash position at the year end. We have updated our forecasts for IFRS 16 and the disposal of Pulsar, and reiterate our view that with PE actively acquiring in this sector and international peers on substantially higher ratings, Cello’s valuation multiples are underpinned with good upside.

Companies: Cello Health
  • 13 Jan 20
Further expansion in Risk Solutions Fraud and Credit Risk Assessment

RELX today announced that its LexisNexis Risk Solutions division has agreed to buy the US company ID Analytics, a provider of credit and fraud risk solutions for enterprises, for $375m (i.e. c.£290m). This is a rather significant acquisition for the group and, at first sight, an interesting one, in line with LexisNexis Risk Solutions’ offering. No change to our recommendation.

Companies: Relx
  • 16 Jan 20
LIBERUM: 4imprint* - Trading statement guides to the upper end of the PBT range

4imprint’s trading statement guides to PBT at the upper end of the range (which is tight). We increase our revenue growth estimate from 16.0% to 16.6% for FY19, and increase EPS by 1% to 152.6c.

Companies: 4Imprint Group
  • 21 Oct 19
Quarterly Research Outlook Autumn 2019

Following continued delays of a Brexit agreement, few sectors within the UK market have remained attractive to investors despite low valuations. One sector which has continued to outperform despite the political drama has been the UK video gaming sector (henceforth UK gaming), which we are fans of. We believe a combination of sector-leading growth, strong cash conversion and timely cyclical positioning support our positive view on the UK video gaming sector.

Companies: ABBY AMS ANX ARS ATYM AVON BLVN PIER BUR CGS CAML CDM CSRT TIDE CYAN DTG DEMG ELM EMR FPO FDEV GTLY GENL GHH GRI GEEC GKP HMI HAYD HEAD HILS HTG HUR IBPO IOG INDI JHD JOG KAPE KEYS KWS KCT KGH LAM LIT LOK MACF MANO MOD OXIG PCA PANR APP ESRE PHC PMO RBW RMM RBGP REDD RSW RNO ROR SUS SCPA SEN SHG SOLG SOM SUMO TM17 INCE TWD TRAK TRI VNET VTC ZOO ZTF

  • 02 Jul 19
Where’s the Value?

Warren Buffett once said that as an investor, it is wise to be ‘fearful when others are greedy and greedy when others are fearful’. Fear is not in short supply right now.

Companies: OPM ALU ANCR BLV CONN CRC STU GATC HAT LEK MMH MCB MWE NXR NTBR NOG PAF PEG RFX SRC TEF TEG TPT VTU WYN XLM

  • 19 Dec 19
Cenkos: XLMedia Plc -- Transformational investment

XLMedia's trading update points to a broadly inline performance for 2019E and an investment programme for 2020E that will transform the Group. The investment in Group resources will enhance publishing assets and streamline the management structure. The group will remain solidly cash generative through this transformation period.

Companies: XLMedia
  • 16 Jan 20
Cenkos: Cello Health plc -- Momentum continues through H2/19E

Today's trading update confirms strong H2/19E trading, in-line with FY19E consensus expectations (£109m net revenue, £13.0m adj PBT). The core Cello Health division has continued to deliver growth ahead of plan following H1/19A's impressive growth. This has been offset somewhat by a weaker performance in Cello Signal given recent UK macro conditions. A reorganisation of Cello Signal to more closely support Cello Health thus appears sensible. The shares are starting to reflect the growing traction.

Companies: Cello Health
  • 16 Jan 20
4imprint Group - Self-promotion pays

4imprint’s pre-close update indicates trading in the later weeks of the full year continued strong, with FY19 results set to be at the higher end of the market forecast range. Revenue (+17%) was slightly above our estimate, which we raised by $10m at the November trading update. The $41.0m net cash at the year end was also a little ahead of our forecast of $39.5m. We have initiated FY21 forecasts, which show the group exceeding management’s $1bn revenue target a year earlier than originally anticipated. The large scale of the addressable market leaves plenty of opportunity for growth, with potential for further share price appreciation.

Companies: 4Imprint Group
  • 19 Nov 19
Substantial deal both transformational and significantly earnings enhancing

In a deal which will have a profound effect on the prospects for the group, Kape has announced the proposed acquisition of LTMI Holdings, the holding company for virtual private network provider Private Internet Access (PIA). PIA is a Denver-based security software business, the addition of which will transform the size of Kape by doubling group revenues (including a stronger recurring revenue base) and increasing adjusted EBITDA by around 2.5 times in FY 2020E. Reflecting that, our earnings estimates increase by around 90% for FY 2020E while our new FY 2021E estimates build strongly on that much larger base. Total consideration is c. US$95.5 million with an enterprise value of c. US$127.6 million. The deal is expected to complete within 45 days and is anticipated to be immediately earnings enhancing. The transaction will create a significant player in the digital privacy market and will enable Kape to expand its footprint in North America with a broader product offering.

Companies: Kape Technologies
  • 06 Jan 20
News Corp strategic partnership and Unruly acquisition

Tremor has announced that it is acquiring Unruly from News Corp through the issuance of 8.5m new Tremor ordinary shares to News Corp (6.9% of Tremor’s prior shares or £14.5m), and Tremor has entered into a global partnership with News Corp for 3 years of exclusive access to outstream digital video adverts for over 50 News Corp publications, with Tremor committing to £30m of ad spend over 3 years. This indicates News Corp has considerable confidence in Tremor, and as News Corp now has a substantial interest in the Tremor investment case, it is anticipated that Rebekah Brooks (CEO of News UK) will join Tremor’s board. Tremor has also issued a short trading update, with FY19 EBITDA in line with market expectations (H2 c$39m), net cash in line except for a $5m advance, and FY19 revenue lower than expected due to Tremor focusing on its profitable, core activities and removing intercompany revenue. We consequently adjust our forecasts with a breakdown on p6. Tremor subsequently trades at a substantial discount to its peers on 12m fwd multiples of 2.4x EV/EBITDA and 5x adj P/E, and we look forward to Tremor issuing a more detailed trading update in late January.

Companies: Tremor International
  • 15 Jan 20
A year of transformation

Centaur Media has announced a positive trading update, in line with market expectations. We are highly encouraged by growth in Lawyer subscription revenues and mix-driven margin improvement in XEIM which are progressing in line with management expectations for the MAP22 strategy (targeting 20% pre-IFRS16 EBITDA margins by 2022; H1’19: 2.5%). Centaur enters 2020 a radically different proposition than in 2019, stream-lined to focus on two core verticals in which the Group has strong brand presence. FY’20E EBITDA margins are forecast to improve rapidly as the Group rationalises support costs to match its new, focused structure having completed its disposal programme in H1. With trading in-line, we make no adjustments to our forecasts at this time. Our selected peer group trades at 10.5x EV/FY’20E EBITDA (Centaur: 5.8x), offering 21% 3-year EBITDA CAGR (Centaur: 51%).

Companies: Centaur Media
  • 16 Jan 20
WHI Morning Comment: 4imprint (FOUR) - Outperforms again; positive FY update confirms strong H2

4imprint continues to make its mark with excellent results, the latest being anticipated in this morning's trading update as the company lowers the blinds on FY2019E. Growth rates of c.16% in H1 accelerated to c.17% in H2, generating results ahead of expectation across all of the sales, PBTA and cash categories. This is particularly pleasing given the contribution of the brand initiative (new sales methods) started early last year – a new departure which has proved highly effective. Over a decade-plus of double digit CAGR, FOUR has made this sort of success look easy; however the model involves a complex combination of techniques, including notably the highly effective use of data analytics, while FOUR fulfils significant multiples of sensitive individual orders, with very low error rates leading to very high rates of client retention. Significant entry barriers remain as the company continues to dig into a large ($US20bn-plus) and profitable market of which it still has a relatively small share. Our forecasts for the current year are tweaked slightly upwards in line with this morning's update; our forward forecasts are left unchanged for now; but the outlook will be revisited when FY results are reported on 03/03. Our current fair value estimate of 3750p equates to a forward PE in the early 20s.

Companies: 4Imprint Group
  • 11 Mar 19
FY18 results show Adj. PBT up 51% to $5.9m

FY2018 results reflect a satisfactory performance, given continued softness in the book trade. Revenues fell by 2% to $149.3m but adjusted operating profit increased 43% to $10.3m. Children’s publishing increased by 2%, representing over one-third of group revenues. The group has extended its banking facilities to August 2020. Net debt fell by 6% to $60.4m. In 2018 the group implemented a cost-out programme to right-size the group. We shall look to reintroduce estimates in due course. We have the shares under review ahead of this.

Companies: Quarto Group
  • 24 Sep 19
Quality of revenue improves during a strong half

This has been a good half, seeing growth in registrations, group revenue and renewals, assisted by a full six months of ICM. The increased sales at higher margin has meant H1 adj. EBITDA jumped over 300%; moreover, a key point is approached as renewal revenues now cover almost all costs: partner payments, cost of sales, and opex. Operationally, progress has also been made in resolving the legacy contract issues. MMX remains comfortably on track for our FY 2019 expectations, which remain unchanged. The company remains wary of giving FY 2020 guidance at this stage. However, looking ahead, this is a much more stable operation; a much better quality to the revenue stream, a controlled cost base, legacy issues addressed; and exciting and innovative growth opportunities.

Companies: Minds + Machines Group
  • 05 Dec 19
LIBERUM: Time Out* - A pivotal year for Time Out Markets

2019 has been a pivotal year with the opening of five Time Out Markets across North America. It is early days but initial performance provides proof that the concept can travel internationally. The delays to openings in Chicago and Montreal will lead to a small H2 loss, confirmed in the announcement today. We have updated FY19E forecasts to reflect this and some changes to future years largely to reflect phasing and additional investment given the growing opportunities for events and sponsorships at current sites and the large pipeline of future global locations.

Companies: Time Out Group