Update on West Newton

6 November 2019

Reabold Resources Plc

("Reabold" or the "Company")

Update on West Newton

Reabold, the AIM investing company which focuses on investments in pre-cash flow upstream oil and gas projects, as previously announced, notes that interpretation of the data gathered from the West Newton A-2 operations is ongoing. The Company is aware of market speculation in relation to such interpretations, but it is too early for the JV partners to be able to confirm their accuracy or not. Work is ongoing and further updates will be made in due course.

For further information please contact:

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.