Reabold Resources plc has conditionally sold its 49.99% stake in Corallian Energy and its Victory gas field to an oil and gas major for £32 million. TERMS The company’s net share will be £12.7m, representing a “significant uplift” on its investment of £7.5m in Corallian since late 2017. Reabold will use the proceeds for its other existing […]
Tag: Reabold Resources plc
Reabold-Corallian SPA valid for non-Victory licences
Reabold Resources plc said that the conditional sales and purchase agreement (SPA) remained valid for six North Sea licences owned by Corallian Energy Ltd which is engaged in potential sale negotiations. SALE PROCESS Upstream oil & gas investment company Reabold is a 49.99% shareholder in Corallian. In May 2022, Reabold announced that Corallian had received a […]
Reabold appoints Anthony Samaha as NED
Reabold Resources plc has appointed Anthony Samaha as non executive director. Mr Samaha previously acted as the company’s finance director.
West Newton concept plan focuses on eight gas wells
The West Newton joint venture (JV) said its conceptual development plan is focused mainly on gas with eight phased wells targeting 35 million barrels of oil equivalent with 203 billion cubic feet (bcf) sales at the project in East Yorkshire. JOINT VENTURE The JV comprises Reabold Resources plc with 56% economic interest via its 59% share in […]
Reabold approved equity exchange with Daybreak
Reabold Resources plc said that shareholders had backed the equity exchange agreement over its California assets with Daybreak Oil and Gas Inc. TERMS The company’s subsidiary Reabold California LLC comprises two licence areas of Monroe Swell and West Brentwood. The deal will see the subsidiary become a wholly owned subsidiary of Daybreak whose shareholders approved […]
Reabold appoints Chris Connolly as CFO
Reabold Resources plc has appointed Chris Connolly as chief financial officer. Mr Connolly has more than 16 years’ experience in the resource industry and joins the company from EnQuest plc, where he was group financial controller. He has worked across the resources industry having initially trained at Ernst & Young LLP before moving to Canamens […]