Acquisition of North Sea Assets from Corallian

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 Sachin Oza Stephen Williams	c/o Camarco [phone]
Strand Hanson Limited - Nominated & Financial Adviser James Spinney Rory Murphy James Dance Stifel Nicolaus Europe Limited - Joint Broker Callum Stewart Simon Mensley Ashton Clanfield Panmure Gordon - Joint Broker Hugh Rich	[phone] [phone] [phone]
Camarco James Crothers Billy Clegg Rebecca Waterworth	[phone]

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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