Reabold Resources plc said it had completed its offer for additional Corallian Energy Ltd shares, which could increase its interest from 36.87% to 49.99% in the Victory gas discovery, West of Shetland. The deal involves the acquisition of shares from existing Corallian shareholders in exchange for Reabold shares at a ratio of 474 Reabold shares […]
Tag: Corallian Energy Ltd
Reabold targets stronger hold in Victory discovery
Investment company Reabold Resources plc has offered to acquire additional shares in Corallian Energy Ltd, which could increase its interest from 36.87% to 49.99% in the Victory gas discovery, West of Shetland. The offer will see the acquisition of up to 13.12% of Corallian shares from existing Corallian shareholders, in exchange for Reabold shares, at […]
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. […]
Reabold to invest further £1m in Corallian
Oil and gas investor Reabold Resources plc said it expected to invest £1 million in Corallian Energy Ltd through a conditional convertible loan instrument for the Victory gas field, West of Shetland. The convertible loan is conditional on Corallian receiving the consent of 75% or more of its shareholders. Reabold has an existing 36.9% shareholding […]
Reabold eyes gas Victory after Corallian investment
Reabold Resources plc has increased its share in Corallian Energy Ltd to 2,780,049 after investing £600,000. The hydrocarbon investment company exercised 272,727 warrants over shares in Corallian Energy Limited at £2.20 per share, equating to approximately £600,000. Reabold now holds 36.9% of Corallian’s then issued share capital. In the 32nd Licensing Round, the Oil and […]