REG - Reabold Resources - Investment in LNEnergy Update

Reabold ResourcesAnnouncement

08/06/2023 07:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230608:nRSH0881Ca&default-theme=true

RNS Number : 0881C  Reabold Resources PLC  08 June 2023

8 June 2023

Reabold Resources plc

("Reabold" or the "Company")

Investment in LNEnergy Update

Reabold Resources plc, the oil & gas investing company with a diversified
portfolio of exploration, appraisal and development projects, announces that,
further to the Company's announcement of 9 May 2023 regarding its initial
investment in LNEnergy, and subsequent announcement of 1 June 2023 regarding
the extension of the expiry date of the First Option and Shareholder Option,
Reabold and LNEnergy have verbally agreed to extend the expiry date of the
First Option and Shareholder Option to 11 June 2023. The formal extension
agreement for such options is in the process of being signed and a further
announcement will be made shortly.

Capitalised terms used in this announcement have the same meanings as ascribed
to them in the Company's announcement of 9 May 2023 entitled "Investment in
LNEnergy".

 

 For further information, contact:

                                                            c/o Camarco

 Reabold Resources plc                                      +44 (0) 20 3757 4980

 Sachin Oza

 Stephen Williams

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

 James Spinney

 James Dance

 Rob Patrick

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

 Callum Stewart

 Simon Mensley

 Ashton Clanfield

 finnCap Ltd - Joint Broker                                 +44 (0) 20 7220 0500

 Christopher Raggett

 Barney Hayward

 Camarco                                                    +44 (0) 20 3757 4980

 Billy Clegg

 Rebecca Waterworth

 

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.

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  MSCGLGDLRXGDGXI