RE: Research Research and Research29 Sep 2019 19:26
Rathlin cornerstone investor Reabold Resources must also be confused
with their plans to increase its ownership in West Newton via Rathlin ?
RNS 22 Aug 2019
Reabold Resources, the AIM-listed investing company which focusses on investments
in pre-cash flow upstream oil and gas projects, is pleased to announce that it has
increased its investment in Rathlin Energy (UK) Limited ("Rathlin"), the operator
of the West Newton field, through participation in an advanced subscription agreement.
Reabold currently holds a 24 per cent. economic interest in West Newton via its 36 per cent.
holding in Rathlin and its ultimate economic interest will be confirmed once the next
fundraising round is complete
RNS 29 Aug 2019
Stephen Williams, Co-CEO of Reabold, commented:
The realisation that we appear to have a 45 metre oil column is a significant
and exciting development in the evaluation of this cornerstone asset.
We particularly look forward to further analysis and testing results, as well
as a proposed updated CPR, as, alongside our partners,
we establish the optimum forward programme to maximise value out of this field
for Reabold shareholders.