Reabold Resources PLC Extension of Parta Exploration Licence in Romania (5156C)
21 June 2021 - 4:00PM
UK Regulatory
TIDMRBD
RNS Number : 5156C
Reabold Resources PLC
21 June 2021
21 June 2021
Reabold Resources plc
("Reabold" or the "Company")
Extension of Parta Exploration Licence in Romania
Reabold, the investor in upstream oil and gas projects, notes
the announcement made by ADX Energy Ltd ("ADX") relating to an
extension of the Parta Exploration Licence ("Parta") in Romania.
The Romanian National Agency for Mineral Resources has approved an
18-month extension for Parta for the current exploration phase
until 3 December 2022.
Reabold holds a 51% interest in Danube Petroleum Limited
("Danube"), which holds a 100% interest in Parta (including a 100%
interest in the Parta Sole Risk Area) and a 100% interest in the
Iecea Mare Production license in Romania. The remaining 49% of
Danube is held by ADX, which is the operator.
The full announcement can be viewed at:
https://adx-energy.com/wp-content/uploads/2021/06/18-Month-Extension-of-Parta-Exploration-Licence-in-Romania.pdf
For further information, contact:
Reabold Resources plc c/o Camarco
Sachin Oza +44 (0) 20 3757
Stephen Williams 4980
Strand Hanson Limited - Nomad & Financial
Adviser +44 (0) 20 7409
James Spinney 3494
Rory Murphy
James Dance
Stifel Nicolaus Europe Limited - Joint
Broker +44 (0) 20 7710
Callum Stewart 7600
Simon Mensley
Ashton Clanfield
Panmure Gordon - Joint Broker
Hugh Rich +44 (0) 207 886
Nick Lovering 2733
Camarco
James Crothers
Ollie Head +44 (0) 20 3757
Billy Clegg 4980
Notes to Editors
Reabold Resources plc is an investing company investing in the
exploration and production ("E&P") sector. The Company's
investing policy is to acquire direct and indirect interests in
exploration and producing projects and assets in the natural
resources sector, and consideration is currently given to
investment opportunities anywhere in the world.
As an investor in upstream oil & gas projects, Reabold aims
to create value from each project by investing in undervalued,
low-risk, near-term upstream oil & gas projects and by
identifying a clear exit plan prior to investment.
Reabold's long term strategy is to re-invest capital made
through its investments into larger projects in order to grow the
Company. Reabold aims to gain exposure to assets with limited
downside and high potential upside, capitalising on the value
created between the entry stage and exit point of its projects. The
Company invests in projects that have limited correlation to the
oil price.
Reabold has a highly-experienced management team, who possess
the necessary background, knowledge and contacts to carry out the
Company's strategy.
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END
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