REG - Reabold Resources - Acquisition of North Sea Assets from Corallian

Reabold ResourcesAnnouncement

15/09/2022 07:00

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RNS Number : 5259Z  Reabold Resources PLC  15 September 2022

15 September 2022

 

Reabold Resources plc

 

("Reabold" or the "Company")

 

 

Completion of Acquisition of North Sea Assets from Corallian

 

 

Reabold, the AIM quoted investing company with a portfolio of upstream oil and
gas projects, is pleased to announce that, further to its announcements of 4
May 2022 and 14 September 2022, it has completed the acquisition of Corallian
Energy Limited's ("Corallian") working interest in all the non-Victory (P2596)
licences within the Corallian portfolio, being: P2396, P2464, P2493, P2504 and
P2605 (all at 100% working interest) and P2478 (36% working interest).

 

 

For further information, contact:

 

 Reabold Resources plc                                      c/o Camarco

 Sachin Oza                                                 +44 (0) 20 3757 4980

 Stephen Williams

 Strand Hanson Limited - Nominated & Financial Adviser      +44 (0) 20 7409 3494

 James Spinney

 Rory Murphy

 James Dance

 Stifel Nicolaus Europe Limited - Joint Broker              +44 (0) 20 7710 7600

 Callum Stewart

 Simon Mensley

 Ashton Clanfield

 Panmure Gordon - Joint Broker                              +44 (0) 207 886 2733

 Hugh Rich

 Camarco                                                    +44 (0) 20 3757 4980

 James Crothers

 Billy Clegg

 Rebecca Waterworth

 

 

 

Notes to Editors

 

Reabold Resources plc is an investing company investing in the exploration and
production ("E&P") sector and has a diversified portfolio of assets in
upstream oil & gas projects. Reabold aims to create value from each
project by investing in undervalued, low-risk, near-term projects and by
identifying a clear exit plan prior to investment. 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.

 

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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