REG - Reabold Resources - Key Regulatory Milestone Achieved for Colle Santo

Auction TechnologyAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250826:nRSZ6281Wa&default-theme=true

RNS Number : 6281W  Reabold Resources PLC  26 August 2025

 

26 August 2025

Reabold Resources plc

 

("Reabold" or the "Company")

 

Key Regulatory Milestone Achieved for Colle Santo

 

 

Reabold Resources plc, the investing company focussed on developing strategic
gas projects for European energy security, is pleased to announce
that LNEnergy Limited ("LNE")'s Small Scale -LNG development plan in Colle
Santo, Italy, was granted a positive opinion by the Independent Environmental
Impact Assessment ("EIA") Commission of the Italian Ministry for the
Environment and Energy Security. This is a significant milestone towards
the final EIA Ministerial Decree and the award of the Natural Gas
Production Concession. At the end of the regulatory journey, LNE will be
enabled to operate the two existing gas wells and to develop the
project to produce liquified natural gas ("LNG") for maritime and road
transportation, as part of the Italian Plan for fighting Climate Change and
ensuring Energy Security ("PNIEC"). In July 2025, Reabold increased its
interest in LNE to 46.2%.

 

Mark Frascogna, CEO of LNE, commented: "We are pleased with MASE's decision,
which validates our technical and scientific approach throughout the review
process. The project fully complies with the strictest environmental
requirements under current legislation, and we are confident about completing
the final administrative steps towards concession."

 

The Colle Santo project will produce clean LNG on a small scale, with
near-zero emissions, using 100% renewable electricity. It aims to serve
maritime and road transportation while supporting the Adriatic ecosystem and
the local industrial, agricultural, and tourism sectors.

 

Francesco Di Luca of Italfluid and Head of the Colle Santo site, added: "This
outcome reflects the multidisciplinary work of our technical team and the
adoption of cutting-edge plant solutions. The project ensures compatibility
with Natura 2000 protected areas, meeting demanding environmental standards."

 

LNE is now engaging with institutions, local communities, and businesses in
Val di Sangro to establish protocols for territorial development and make LNG
available to strategic regional industries.

 

Highlights and Next Steps:

·      Positive Opinion received from the VIA Commision for the
development of Colle Santo

·      Granting of full Production Concession by MASE

·      Finalisation of funding agreements

·      EPC contract execution with Italfluid

·      Offtake & prepay agreement with Gunvor

·      Utilisation of prepay to cover significant share of CAPEX

·      Development start with two production wells already drilled and
tested

·      FID anticipated in the coming months

 

Stephen Williams, Co-CEO of Reabold, commented:

"The VIA commission Positive Opinion is an exciting step forward for the
project and the key element from a regulatory approval perspective. There is
strong momentum behind Colle Santo with offtake terms agreed in the HoA with
Gunvor and the EPC contract with Italfluid progressing well.

 

"As one of the largest onshore gas developments in Europe and, at a time when
low levels of investment into indigenous resources has left the continent with
significant security of supply issues, Colle Santo is a nationally significant
project in Italy. It is both environmental friendly and strategically and
economically valuable, and we are delighted to be able to play a part in
producing micro-LNG, providing a much needed transition fuel to the region."

 

 

 

 

For further information, contact:

 

 Reabold Resources plc                                     c/o Camarco

 Sachin Oza                                                +44 (0) 20 3757 4980

 Stephen Williams

 Cavendish - Nominated & Financial Adviser and Broker       +44 (0) 20 7220 0500

 Neil McDonald

 Pearl Kellie

 Camarco                                                   +44 (0) 20 3757 4980

 Billy Clegg

 Rebecca Waterworth

 Sam Morris

 

Notes to Editors

 

Reabold Resources plc has a diversified portfolio of exploration, appraisal
and development oil & gas projects. Reabold's strategy is to invest in
low-risk, near-term projects which it considers to have significant valuation
uplift potential, with a clear monetisation plan, where receipt of such
proceeds will be returned to shareholders and re-invested into further growth
projects. This strategy is illustrated by the recent sale of the undeveloped
Victory gas field to Shell, the proceeds of which are being returned to
shareholders and re-invested.

 

 

( 1 ) RPS estimate, September 2022

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCDBGDIRSDDGUU