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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Reabold Resources Plc | LSE:RBD | London | Ordinary Share | GB00B95L0551 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.01 | 14.81% | 0.0775 | 0.07 | 0.085 | 0.0775 | 0.0725 | 0.0725 | 14,860,842 | 08:09:17 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Mgmt Invt Offices, Open-end | 560k | -45k | 0.0000 | N/A | 7.9M |
TIDMRBD
RNS Number : 6650T
Reabold Resources PLC
26 November 2021
26 November 2021
Reabold Resources plc
("Reabold" or the "Company")
West Newton - Rathlin's Update to Residents
Reabold, the AIM investing company which focuses on investments in upstream oil and gas projects, notes that Rathlin Energy (UK) Limited ("Rathlin"), the operator of PEDL183 and the West Newton Field, has today published an update to residents regarding ongoing plans for the West Newton A and West Newton B sites.
Rathlin's update to residents notes, inter alia, that, having taken into account the concerns of its West Newton A project development application, it intends to submit a new application, whilst continuing to take legal advice with regards to making an appeal of East Riding of Yorkshire Council's decision of the original application. In addition, Rathlin notes that it will make application to extend the condition requiring operations to be completed by April 2022 at West Newton B by the end of the year.
Reabold holds a ca. 56 per cent. economic interest in West Newton via its ca. 59 per cent. shareholding in Rathlin, which, in turn, has a 66.67 per cent. interest in PEDL183. In addition, Reabold has a 16.665 per cent. direct licence interest in PEDL183.
Rathlin's full update to residents can be accessed at: https://www.rathlin-energy.co.uk/latest-update/
For further information, contact:
Reabold Resources plc c/o Camarco Sachin Oza +44 (0) 20 3757 Stephen Williams 4980 Strand Hanson Limited - Nomad & Financial +44 (0) 20 7409 Adviser 3494 James Spinney Rory Murphy James Dance Stifel Nicolaus Europe Limited - Joint Broker +44 (0) 20 7710 Callum Stewart 7600 Simon Mensley Ashton Clanfield Panmure Gordon - Joint Broker Hugh Rich +44 (0) 207 886 Nick Lovering 2733 Camarco James Crothers Rebecca Waterworth +44 (0) 20 3757 Billy Clegg 4980
Notes to Editors
Reabold Resources plc is an investing company investing in the exploration and production ("E&P") sector. The Company's investing policy is to acquire direct and indirect interests in exploration and producing projects and assets in the natural resources sector, and consideration is currently given to investment opportunities anywhere in the world.
As an investor in upstream oil & gas projects, Reabold aims to create value from each project by investing in undervalued, low-risk, near-term upstream oil & gas projects and by identifying a clear exit plan prior to investment.
Reabold's long term strategy is to re-invest capital made through its investments into larger projects in order to grow the Company. Reabold aims to gain exposure to assets with limited downside and high potential upside, capitalising on the value created between the entry stage and exit point of its projects. The Company invests in projects that have limited correlation to the oil price.
Reabold has a highly-experienced management team, who possess the necessary background, knowledge and contacts to carry out the Company's strategy.
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(END) Dow Jones Newswires
November 26, 2021 02:00 ET (07:00 GMT)
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