Investment in LNEnergy Update

Reabold Resources PLC

01 June 2023

 

1 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, Reabold and LNEnergy have agreed to extend the expiry date of the First Option and Shareholder Option by one week to 7 June 2023. A further announcement will be made in due course.

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: Reabold Resources plc Sachin Oza Stephen Williams	c/o Camarco [phone]
Strand Hanson Limited - Nominated & Financial Adviser James Spinney James Dance Rob Patrick Stifel Nicolaus Europe Limited - Joint Broker Callum Stewart Simon Mensley Ashton Clanfield finnCap Ltd - Joint Broker Christopher Raggett Barney Hayward	[phone] [phone] [phone]
Camarco Billy Clegg Rebecca Waterworth	[phone]

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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