Finance News Oil & Gas

Reabold to sell 50% CLNs to fund Victory draft FDP

Reabold Resources plc will sell half of the convertible loan notes (CLNs) in investee Corallian Energy Ltd to help fund a draft field development plan for the Victory gas field, West of Shetland. MONETISATION The sale is to “a group of strategic investors” in exchange for £500,000 cash, with Reabold retaining £500,000 of the CLNs. […]