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Reabold Resources PLC - London-based oil and gas company with projects in the UK, the US and Romania - Pretax loss stays broadly unchanged in 2021, widening to GBP2.68 million from GBP2.67 million. Revenue rises 12% to GBP1.2 million from GBP1.0 million. Production on a working interest basis from the company's California assets was 24,457 barrels of oil, down from 33,890 barrels of oil the previous year. The lower production was primarily due to workover of wells and bringing enhanced storage infrastructure online, the company explains. Realised sales price was USD65.4 per barrels, up from USD38.4 per barrel a year prior.
"The energy markets are being impacted by the military action in Ukraine, which is adding significant upside pressure to prices. As an investor in the E&P sector, Reabold is clearly exposed to the updside, however there remains, at this point in time, uncertainty," Reabold says.
Current stock price: 0.33 pence, up 1.3%
12-month change: down 48%
By Heather Rydings; heatherrydings@alliancenews.com
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