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Reabold Resources (RBD)

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Thursday 16 August, 2018

Reabold Resources

Parta Information Memorandum

RNS Number : 0128Y
Reabold Resources PLC
16 August 2018
 

16 August 2018

 

Reabold Resources Plc

"Reabold" or "the Company"

 

Parta Information Memorandum

 

Reabold notes the announcement made by ADX Energy on the ASX in relation to the Information Memorandum on its Romanian Assets held via its subsidiary Danube Petroleum ("Danube").

 

Through Reabold's 29% interest in Danube, the Company has exposure to the low risk appraisal programme on the Parta license, which has the potential to create significant value. Situated within a proven and stable hydrocarbon region with significant existing infrastructure, the Parta licence benefits from low drilling and operating costs.

 

A two well appraisal campaign is planned by Danube on the license aiming to test 49.9 BCF of prospective and contingent resource commencing in Q4 2018/Q1 2019.

 

The full Information Memorandum can be seen here: http://news2.paritech.com/comnews/20180816/02010287.pdf 

 

ENDS

 

For further information please contact:

 

Reabold Resources plc

Stephen Williams

Sachin Oza

 

c/o Camarco

+44 (0) 20 3757 4980

Beaumont Cornish Limited

Roland Cornish

James Biddle

Felicity Geidt

 

+44 (0) 20 7628 3396

Camarco

James Crothers

Ollie Head

Billy Clegg

 

+44 (0) 20 3757 4980

Whitman Howard Limited - Joint Broker

Nick Lovering

Grant Barker

 

+44 (0) 20 7659 1234 

Turner Pope Investments (TPI) Ltd - Joint Broker

Andy Thacker

+44 (0) 20 3621 4120

 

 



 

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.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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