REG - Reabold Resources - Danube - Parta Licence Update

Reabold ResourcesAnnouncement

24/10/2025 07:00

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RNS Number : 7313E  Reabold Resources PLC  24 October 2025

 

24 October 2025

Reabold Resources plc

 

("Reabold" or the "Company")

 

Danube - Parta Licence Update

 

Reabold Resources plc, the investing company focussed on developing strategic
gas projects for European energy security, notes the announcement today by
ADX Energy Ltd ("ADX") regarding the Parta exploration licence ("Parta") in
Romania, in which Reabold has an indirect interest through its 50.8%
shareholding in Danube Petroleum Limited ("Danube"). ADX holds the remaining
49.2% shareholding in Danube via its wholly owned subsidiary ADX Energy
Panonia SRL ("Panonia"), and is the operator of Parta.

 

Panonia has been unable to perform the work plan in Parta due to regulatory
constraints, delays and operational access restrictions. ADX was reluctant to
enter into exploration phase 2, with additional significant commitments, due
to the inability to perform the phase 1 program despite its reasonable
efforts. As a result  ADX has been in discussions with the Romanian
Regulatory Authorities regarding an extension of the Parta licence. Despite
repeated requests, the Regulatory Authority has advised that the exploration
phase 1 of the licence has expired. Additionally, the Regulatory Authority has
issued Panonia with invoices totalling EUR 4.2 million relating to alleged
expenditures relating to the unperformed exploration commitments applicable to
Parta.

 

ADX, on behalf of Panonia, will formally dispute these invoices on the basis
of having incurred significant costs to address the unforeseen challenges
attributable to the work program, as well as due to the regulatory delays and
access restrictions which have prevented Panonia from entirely fulfilling the
work program, and denied Panonia the ability to benefit from the potential
upside from making a discovery.

 

Further details can be found in the ADX Energy Ltd ASX release published on 24
October 2025 - https://investors.adx-energy.com/announcements/7225646
(https://investors.adx-energy.com/announcements/7225646) .

 

 

 

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

 

This announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018, as amended.

 

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.

 

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