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 […]
Tag: Reabold Resources plc
West Newton JV nears flow testing of WNB-1Z sidetrack well
The joint venture partners have ended the current phase of operations ahead of flow testing the West Newton B-1Z (WNB-1Z) sidetrack well near Hull in East Yorkshire. During December 2020, WNB-1Z encountered a gross 62 metre thick hydrocarbon bearing reservoir interval in the primary Kirkham Abbey target formation. The JV today said that the cased […]
West Newton JV to start WNB-1Z evaluation
The joint venture partners at West Newton announced that the first phase of evaluation will begin in April of sidetrack well WNB-1Z at the site near Hull in the East Riding of Yorkshire. The evaluation will include a cased hole logging programme (CHLP) and a vertical seismic profiling survey. The JV comprises Reabold Resources plc […]
Rathlin starts West Newton-A public consultation
Rathlin Energy (UK) Ltd has started a virtual public consultation on the planned West Newton A (WN-A) hydrocarbon field near Hull in East Yorkshire. PROGRAMME The PEDL 183 licence contains the West Newton A-1 (WN-A1) discovery well, the A-2 appraisal well, along with the recently drilled B-1Z discovery. Drill results in December 2020 revealed that […]
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 […]