Reabold Resources PLC Update on Colter and Wick Projects (7015V)
25 July 2018 - 5:22PM
UK Regulatory
TIDMRBD
RNS Number : 7015V
Reabold Resources PLC
25 July 2018
25th July 2018
Reabold Resources Plc
("Reabold" or "the Company")
Update on Colter and Wick Projects
Reabold is pleased to announce that Authorisation for
Expenditures (AFEs) have been signed for both the Wick well in the
Inner Moray Firth and the Colter well in the Weald basin. Reabold
has significant exposure to each of these wells via its 32.9%
holding in operator Corallian Energy.
Subject to final regulatory approvals, the Wick well will drill
in September, with the Colter well following in Q4 this year.
Sachin Oza, co-CEO commented:
"We are delighted that the JVs for both Colter and Wick have
progressed to the AFE stage, and look forward to drilling both of
these potentially transformational wells within the next few
months."
Stephen Williams, co-CEO commented:
"Colter and Wick form an exciting part of our six well drilling
campaign in H2'18. We are very pleased to note that following our
initial funding of Corallian late last year, a number of partners
have followed into both the Colter and Wick prospects, giving us
two fully funded wells at significant equity levels."
ENDS
For further information please contact:
Reabold Resources plc c/o Camarco
Stephen Williams +44 (0) 20 3757 4980
Sachin Oza
Beaumont Cornish Limited
Roland Cornish
James Biddle
Felicity Geidt +44 (0) 20 7628 3396
Camarco
James Crothers
Billy Clegg
Ollie Head +44 (0) 20 3757 4980
Whitman Howard Limited - Joint
Broker
Nick Lovering
Grant Barker +44 (0) 20 7659 1234
Turner Pope Investments (TPI)
Ltd - Joint Broker
Andy Thacker +44 (0) 20 3621 4120
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END
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