Rathlin Energy (UK) Ltd has appointed Paul Harris as an independent non-executive director of the board, with immediate effect. Mr Harris is a chartered engineer with 35 years’ experience within the energy sector. He has a technical, regulatory and commercial background and a track record of delivering UK oil and gas projects. Mr Harris’ previous […]
Tag: West Newton – East Yorkshire
Reabold increases interest in West Newton
Reabold Resources plc has completed its £700,000 acquisition of further shares in Rathlin Energy (UK) Ltd, operator of the onshore West Newton gas joint venture within PEDL183 in East Yorkshire. The company purchased the shares from Connaught Oil & Gas Ltd, increasing its equity interest in Rathlin to approximately 79.8%. Reabold holds a 69.9% economic […]
Reabold increases stake in West Newton
Reabold Resources plc has invested a further 20.4% of shares for £700,000 in the operator of the onshore West Newton development, Rathlin Energy (UK) Ltd. SIDETRACK The acquisition from Rathlin’s owner Calgary-based Connaught Oil & Gas Ltd will result in Reabold holding a 69.9% economic interest in PEDL183 via its 79.8% shareholding in Rathlin. Rathin […]
West Newton targets low capex and early revenue
The West Newton joint venture said that new development plans allow early production and revenue with low capital expenditure, based on the project’s feasibility study. DEVELOPMENT The West Newton A1, A2 and WNB-1z discoveries lie within licence PEDL183 in East Yorkshire. CNG Services Ltd’s study revealed that, before full field development, an initial single horizontal […]
West Newton new plans show savings and early revenue
The West Newton joint venture said it would save costs and generate early cash flow under revised plans for PEDL183 in East Yorkshire. GAS COLUMN The licence contains the West Newton A1, A2 and WNB-1z discoveries. The new plan is to drill the proposed well WN-A3, twinned with the untested WN A-1 discovery well, during […]
Reabold expects £5.2m in second Corallian payment
Reabold Resources plc expects the second tranche payment from the sale of its investee company Corallian Energy Ltd to be distributed to former Corallian shareholders from today. USES Reabold will receive £5.2m from purchaser Shell UK Ltd, which follows the first sum of £3.2m received on 1 November 2022. The final payment, of £4.4m, is […]