RE: RNS20 Jun 2022 10:51
"I see Reabold Resources are after Companies to 'Farm in' to their Corallian Victory field development."
Sorry - they're out of Victory - COrallian were bought out last month and Reabold sold their sahres in Corallian but bought all hte NON-Victory assets
"· Corallian Energy Limited ("Corallian") has received a non-binding, conditional offer from a credible party for the acquisition of its entire issued share capital (the "Potential Sale")
· Corallian's board considers the Potential Sale to be sufficiently attractive to seek to conclude a sale process and is progressing negotiations with the potential purchaser
· Reabold to acquire Corallian's portfolio of six attractive exploration and appraisal licences, excluding the Victory licence, for £250,000 (the "Acquisition")
o Significant prospective and contingent resources
o Opportunity to de-risk, then monetise prospects
o Low work programme commitments
o Corallian's only remaining asset, at the time of completion of the Acquisition, will be licence P2596 (containing the Victory gas development opportunity) Reabold is a 49.99% shareholder in Corallian"