Statement re Press Comment

RNS Number : 9467F

Reabold Resources PLC

26 February 2018

 

For Immediate Release                                                                                                                                26 February 2018

Reabold Resources Plc

"Reabold" or "the Company"

Statement re Press Speculation

The Directors note recent press speculation relating to a significant placing of shares by the Company.

Having deployed the funds raised last year, the Board considers that there is an opportunity to exploit further investments within the sector. Accordingly the Company confirms it is exploring market appetite for a placing. There can be no certainty as to the outcome of these discussions, but a further announcement will be made in due course.

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

ENDS

For further information please contact:

Reabold Resources plc Stephen Williams Sachin Oza	c/o Camarco [phone]
Beaumont Cornish Limited Roland Cornish James Biddle Felicity Geidt	[phone]
Camarco Billy Clegg James Crothers Ollie Head	[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 is an investor in upstream oil & gas projects with an aim 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. Management believes the current distress in the oil & gas industry presents an opportune time to deploy capital in undervalued assets with huge potential.

 

END

 

 

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