Operations Update at Iecea Mica-1, Romania

RNS Number : 5813C

Reabold Resources PLC

18 June 2019

 

18 June 2019

Reabold Resources Plc

("Reabold" or the "Company")

Operations Update at Iecea Mica-1, Romania

Reabold, the investor in pre-cash flow upstream oil and gas projects, notes the Operations Update announced by ADX Energy Ltd ("ADX") in relation to the Iecea Mica-1 well, part of the Parta appraisal programme in Romania. Reabold has a 37.5 per cent. interest via its shareholding in Danube Petroleum Limited.

The Operations Update, including photos of the construction of the well access road at the Iecea Mica-1 well, can be found via ADX's announcement dated 18 June 2019 here:

http://adx-energy.com/documents/iecea-mica-1-well-update---construction-commenced.pdf

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

ENDS

For further information please contact:

Reabold Resources plc Stephen Williams Sachin Oza	c/o Camarco [phone]
Strand Hanson Limited (Nominated and Financial Adviser) Rory Murphy James Spinney James Dance	[phone]
Camarco James Crothers Ollie Head Billy Clegg	[phone]
Whitman Howard Limited - Joint Broker Nick Lovering Grant Barker	[phone]
Turner Pope Investments (TPI) Ltd - Joint Broker Andy Thacker	[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.

 

END

 

 

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