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Reabold Resources PLC - London-based investor in upstream oil and gas projects - Completes deal to buy an additional 13% stake in Corallian Energy Ltd in exchange for Reabold shares. Reabold owns just under a 50% stake in Corallian following deal. Corallian is the sole owner of the "low risk, high potential" Victory gas discovery off the Shetland Islands.
Reabold and Union Jack Oil PLC separately announce that energy consultancy Gaffney, Cline & Associates Ltd has been appointed to prepare a competent person's report on the West Newton oil and gas discovery in Yorkshire. Reabold has a roughly 73% stake in West Newton, while Union Jack has 17%.
Reabold Resources current stock price: 0.70 pence
Year-to-date change: up 6.1%
Union Jack Oil current stock price: 36.00 pence
Year-to-date change: up 13%
By Ivan Edwards; ivanedwards@alliancenews.com
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