News Oil & Gas

Reabold notes completion of EBS at Victory

Reabold Resources plc announced that a key milestone had been reached with the completion of the environment baseline survey (EBS) at the Victory gas discovery, northwest of the Shetland Islands. The upstream oil and gas investor holds a 49.99% interest in operator Corallian Energy Ltd which in turn owns a 100% interest in Victory. Corallian […]

News Oil & Gas

Reabold targets stronger hold in Victory discovery

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 […]

Finance News Oil & Gas

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. […]

News Oil & Gas

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 […]

Finance News Oil & Gas

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, […]

News Oil & Gas

Reabold eyes gas Victory after Corallian investment

Reabold Resources plc has increased its share in Corallian Energy Ltd to 2,780,049 after investing £600,000. The hydrocarbon investment company exercised 272,727 warrants over shares in Corallian Energy Limited at £2.20 per share, equating to approximately £600,000. Reabold now holds 36.9% of Corallian’s then issued share capital. In the 32nd Licensing Round, the Oil and […]