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 […]
Tag: West Newton – East Yorkshire
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 […]
Union Jack looks overseas to cut risks to UK assets
Union Jack Oil plc is investigating international oil and gas opportunities to lessen future risk in its UK projects. STRATEGY In its half year report, the company said that there were still “several rich pickings” in onshore domestic oil and gas but that the regulatory process was “painfully slow”. “Over the past year we have […]