Reabold Resources PLC Completion of Increased Investment into Danube (4245O)
02 October 2019 - 4:00PM
UK Regulatory
TIDMRBD
RNS Number : 4245O
Reabold Resources PLC
02 October 2019
2 October 2019
Reabold Resources Plc
("Reabold" or the "Company")
Completion of Increased Investment into Danube Petroleum
Reabold Resources, the AIM investing company which focuses on
investments in pre-cash flow upstream oil and gas projects, is
pleased to announce that, further to the announcement on 16
September 2019, Reabold has completed its second tranche investment
in Danube Petroleum Limited ("Danube"). Following the completion by
ADX Energy Ltd ("ADX") of its second tranche investment, which is
expected to occur imminently, Reabold will hold 41.6 per cent. of
Danube's issued share capital.
Danube has a 100 per cent. working interest in the sole risk
area within the Parta licence that includes IM-1, as well as 50 per
cent. of the remainder of the Parta licence. ADX is the operator of
the licence and the proceeds from Reabold and ADX's respective
subscriptions are intended to be utilised by Danube in the
production testing of the IM-1 well.
For further information please contact:
Reabold Resources plc c/o Camarco
Stephen Williams +44 (0) 20 3757 4980
Sachin Oza
Strand Hanson Limited (Nominated and Financial
Adviser)
James Spinney
Rory Murphy
James Dance +44 (0)20 7409 3494
Camarco
James Crothers
Ollie Head
Billy Clegg +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
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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