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10 May 2021 07:00
Market Abuse Regulation (MAR) DisclosureCertain information contained in this announcement would have been deemed inside information forthe purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
10 May 2021
Reabold Resources plc
("Reabold" or the "Company")
Gaffney, Cline & Associates to Prepare PEDL183 West Newton Competent Persons Report
Reabold, the investor in upstream oil and gas projects, is pleased to announce that Gaffney, Cline & Associates Limited, an international energy consultancy, has been appointed to prepare a Competent Person`s Report ("CPR") in respect of PEDL183 which include the West Newton discoveries, WNA-1, WNA-2 and WNB-1Z wells.
The CPR will be executed immediately following the imminent testing of the WNB-1Z and WNA-2 wells.
Reabold holds a ca. 56 per cent. economic interest in West Newton via its ca. 59 per cent. shareholding in Rathlin, which, in turn, has a 66.67 per cent. interest in PEDL183. In addition, Reabold has a 16.665 per cent. direct licence interest in PEDL183.
Reabold will provide an update on expected timing for the CPR in due course.
For further information, contact:
Reabold Resources plc Sachin Oza Stephen Williams
| c/o Camarco +44 (0) 20 3757 4980
|
Strand Hanson Limited - Nomad & Financial Adviser James Spinney Rory Murphy James Dance
Stifel Nicolaus Europe Limited - Joint Broker Callum Stewart Simon Mensley Ashton Clanfield
Panmure Gordon - Joint Broker Hugh Rich Nick Lovering
| +44 (0) 20 7409 3494
+44 (0) 20 7710 7600
+44 (0) 207 886 2733 |
Camarco James Crothers Ollie Head Billy Clegg | +44 (0) 20 3757 4980
|
Notes to Editors
Reabold Resources plc is an investing company investing in the exploration and production ("E&P") sector. The Company's investing policy is to acquire direct and indirect interests in exploration and producing projects and assets in the natural resources sector, and consideration is currently given to investment opportunities anywhere in the world.
As an investor in upstream oil & gas projects, Reabold aims to create value from each project by investing in undervalued, low-risk, near-term upstream oil & gas projects and by identifying a clear exit plan prior to investment.
Reabold's long term strategy is to re-invest capital made through its investments into larger projects in order to grow the Company. Reabold aims to gain exposure to assets with limited downside and high potential upside, capitalising on the value created between the entry stage and exit point of its projects. The Company invests in projects that have limited correlation to the oil price.
Reabold has a highly-experienced management team, who possess the necessary background, knowledge and contacts to carry out the Company's strategy.
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