Extension of Parta Exploration Licence in Romania

RNS Number : 5156C

Reabold Resources PLC

21 June 2021

 

21 June 2021

Reabold Resources plc

("Reabold" or the "Company")

Extension of Parta Exploration Licence in Romania

Reabold, the investor in upstream oil and gas projects, notes the announcement made by ADX Energy Ltd ("ADX") relating to an extension of the Parta Exploration Licence ("Parta") in Romania. The Romanian National Agency for Mineral Resources has approved an 18-month extension for Parta for the current exploration phase until 3 December 2022.

Reabold holds a 51% interest in Danube Petroleum Limited ("Danube"), which holds a 100% interest in Parta (including a 100% interest in the Parta Sole Risk Area) and a 100% interest in the Iecea Mare Production license in Romania. The remaining 49% of Danube is held by ADX, which is the operator.

The full announcement can be viewed at: https://adx-energy.com/wp-content/uploads/2021/06/18-Month-Extension-of-Parta-Exploration-Licence-in-Romania.pdf  

For further information, contact:

Reabold Resources plc Sachin Oza Stephen Williams	c/o Camarco [phone]
Strand Hanson Limited - Nomad & 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 Nick Lovering	[phone] [phone] [phone]
Camarco James Crothers Ollie Head Billy Clegg	[phone]

Notes to Editors

Reabold Resources plc is an investing company investing in the exploration and production ("E&P") sector. 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.

As an investor in upstream oil & gas projects, Reabold aims to create value from each project by investing in undervalued, low-risk, near-term upstream oil & gas projects and by identifying a clear exit plan prior to investment.

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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