Reabold Resources PLC West Newton -- Rathlin's Update to Residents (6650T)
26 Noviembre 2021 - 01:00AM
UK Regulatory
TIDMRBD
RNS Number : 6650T
Reabold Resources PLC
26 November 2021
26 November 2021
Reabold Resources plc
("Reabold" or the "Company")
West Newton - Rathlin's Update to Residents
Reabold, the AIM investing company which focuses on investments
in upstream oil and gas projects, notes that Rathlin Energy (UK)
Limited ("Rathlin"), the operator of PEDL183 and the West Newton
Field, has today published an update to residents regarding ongoing
plans for the West Newton A and West Newton B sites.
Rathlin's update to residents notes, inter alia, that, having
taken into account the concerns of its West Newton A project
development application, it intends to submit a new application,
whilst continuing to take legal advice with regards to making an
appeal of East Riding of Yorkshire Council's decision of the
original application. In addition, Rathlin notes that it will make
application to extend the condition requiring operations to be
completed by April 2022 at West Newton B by the end of the
year.
Reabold holds a ca. 56 per cent. economic interest in West
Newton via its ca. 59 per cent. shareholding in Rathlin, which, in
turn, has a 66.67 per cent. interest in PEDL183. In addition,
Reabold has a 16.665 per cent. direct licence interest in
PEDL183.
Rathlin's full update to residents can be accessed at:
https://www.rathlin-energy.co.uk/latest-update/
For further information, contact:
Reabold Resources plc c/o Camarco
Sachin Oza +44 (0) 20 3757
Stephen Williams 4980
Strand Hanson Limited - Nomad & Financial +44 (0) 20 7409
Adviser 3494
James Spinney
Rory Murphy
James Dance
Stifel Nicolaus Europe Limited - Joint Broker +44 (0) 20 7710
Callum Stewart 7600
Simon Mensley
Ashton Clanfield
Panmure Gordon - Joint Broker
Hugh Rich +44 (0) 207 886
Nick Lovering 2733
Camarco
James Crothers
Rebecca Waterworth +44 (0) 20 3757
Billy Clegg 4980
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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END
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