RE: RBD9 Mar 2021 12:22
22 January 2021 RNS abridged
Reabold Resources
West Newton A Site Planning Update
"Reabold, the investor in upstream oil and gas projects, notes that the Operator of PEDL183, Rathlin Energy (UK) Limited ("Rathlin") has provided the following update to local residents and the West Newton Community Liaison Group regarding the West Newton A site.
The proposed extension of the existing West Newton A (WNA) wellsite and associated work programme would provide for testing, appraisal and production from the two existing wells (WN-A1 and WN-A2) and the potential for drilling, testing, appraisal and production from up to six (6) new wells on the WNA site over a 25 year period".
"Rathlin Energy (UK) Limited will be undertaking public consultation on the West Newton A site development plan over the coming months and ahead of the submission of any formal planning application".
Question 1 After reading the above carefully are Reabold 'passing the buck' over to Rathlin regarding any delays that may be forthcoming; at the same time remembering who controls Rathlin and possible implications thereof?
Question 2 Is it implied in the last paragraph ('coming months') that we will possibly be waiting a long time for news of substance?
If the answers to the two above questions are YES then the sp will go nowhere fast over the next few months.
OMO and DYOR.