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. […]
Tag: Reabold Resources plc
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 […]
Rathlin to store up to 490t of crude oil at West Newton
Rathlin Energy (UK) Ltd announced it expected to store up to 490 tonnes of crude at its West Newton PEDL183 joint venture hydrocarbon site near Hull, East Riding. PHASES The company is due to begin a public consultation over the coming months after the East Riding of Yorkshire Council’s screening opinion earlier this month considered […]
Reabold Resources’ share placing raises £7.5m
Reabold Resources plc announced it had received £7.5 million by way of a placing and subscription of new ordinary shares of 0.1p each. A total of 890,909,093 ordinary shares have been placed with new and existing institutional investors and a total of 472,727,270 ordinary shares have been subscribed for by certain directors and institutional investors, […]
West Newton B-1Z oil drill surpasses expectations
The West Newton joint venture reported drill results exceeding expectations, suggesting the site could be the largest UK onshore hydrocarbon discovery since the 1970s. JOINT VENTURE Rathlin Energy UK (Ltd) has a 66.67% interest in PEDL183, and Reabold Resources plc investment company has a 59% share in Rathlin and a 16.665% direct licence share. Union […]