Reabold Resources plc has completed its £700,000 acquisition of further shares in Rathlin Energy (UK) Ltd, operator of the onshore West Newton gas joint venture within PEDL183 in East Yorkshire. The company purchased the shares from Connaught Oil & Gas Ltd, increasing its equity interest in Rathlin to approximately 79.8%. Reabold holds a 69.9% economic […]
Tag: Connaught Oil & Gas
Reabold increases stake in West Newton
Reabold Resources plc has invested a further 20.4% of shares for £700,000 in the operator of the onshore West Newton development, Rathlin Energy (UK) Ltd. SIDETRACK The acquisition from Rathlin’s owner Calgary-based Connaught Oil & Gas Ltd will result in Reabold holding a 69.9% economic interest in PEDL183 via its 79.8% shareholding in Rathlin. Rathin […]
Rathlin starts West Newton B-1 main borehole drilling
Rathlin Energy (UK) Ltd has started drilling at the onshore West Newton B-1 (WNB-1) well, following the West Newton A-2 (WNA-2) appraisal well (PEDL183), in East Yorkshire. The site operator will use a Drillmec HH 220 drilling rig to drill a borehole to an approximate depth of 2,000 metres and take six to ten weeks […]