Reabold Resources plc has restarted its share buyback programme using new net proceeds from the sale of the Victory gas field to Shell. CAPITAL In October 2022 the company said it intended to begin the programme and return £4 million excess cash to shareholders on receipt of £9.5 million of deferred net sale proceeds from […]
Tag: Victory gas field – West of Shetland
Corallian sells for £32m to Shell UK
Reabold Resources plc reported the execution of the £32 million sale of its investee company Corallian Energy Ltd, holding the Victory discovery, to Shell UK Ltd. OPPORTUNITIES The investment company added it expected completion of the deal and initial gross consideration payment of £10m, c.£3.2m net to Reabold, will be during Q4 of 2022. Reabold […]
Reabold conditionally sells Corallian stake for £32m
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 […]
Reabold completes offer for additional Victory interest
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 […]