Oil and gas investor Reabold Resources plc said it had yesterday received an unsolicited approach by email to buy out the company. OFFER Kamran Sattar made the offer on behalf of Portillion SPV O&G, which Reabold believes is an affiliate of Portillion Capital Ltd. Companies House lists Mr Sattar as the sole director of financial […]
Tag: Reabold Resources plc
Reabold to drill Dunrobin on revised CPR
Reabold Resource plc plans to drill the Dunrobin licence after a competent person’s report indicated 201 million barrels of unrisked prospective gross resources. DUNROBIN WEST North Sea licence P2478 partners comprise Reabold with a 36% working interest and Baron Oil plc and Upland Resources (UK Onshore) Ltd, each with 32%. The first exploration well is […]
Reabold considers early return from Corallian sale
Reabold Resources plc is considering an early distribution to shareholders following receipt of an initial £10 million, with £3.2m net to Reabold, from the sale of Corallian Energy Ltd to Shell UK Ltd. PARTIAL DISTRIBUTION The balance of the total £22m consideration (£9.5 million net to Reabold), is expected to be paid during 2023. At […]
Reabold completes acquisition of Simwell
Reabold Resources plc has completed its £1 million acquisition in cash and shares of Simwell Resources Ltd. ADJUSTMENT OF TERMS Simwell holds minority interests in four UK licences with partners Shell UK Ltd, Horizon Energy Partners Ltd and Ardent Oil Ltd in the Southern North Sea. The sales and purchase agreement (SPA) announced in September 2022, […]
Reabold directors buy 56.8m ordinary shares
Reabold Resources plc directors today purchased in total approximately 56.8 million ordinary shares of 0.1p in the company. DEALINGS Co-chief executive Stephen Williams purchased 10,660,744 ordinary shares each at an average price of approximately 0.27 pence per share. Mr Williams’ spouse; 7,000,000 ordinary shares each at 0.295 pence. Co-chief executive officer Sachin Oza; 25,644,236 ordinary […]
Reabold shareholders reject plan to remove directors
Reabold Resources plc said that proposed resolutions, including the removal of the entire board of directors, have been rejected at a requisitioned general meeting. TIMELINE Shareholders today voted against each resolution by slightly more than 75% with just under 25% in favour. In October 2022, Pershing Nominees Ltd which owns some 6.93% of Reabold’s issued […]