TIDMRBD

RNS Number : 0881C

Reabold Resources PLC

08 June 2023

8 June 2023

Reabold Resources plc

("Reabold" or the "Company")

Investment in LNEnergy Update

Reabold Resources plc, the oil & gas investing company with a diversified portfolio of exploration, appraisal and development projects , announces that, further to the Company's announcement of 9 May 2023 regarding its initial investment in LNEnergy, and subsequent announcement of 1 June 2023 regarding the extension of the expiry date of the First Option and Shareholder Option, Reabold and LNEnergy have verbally agreed to extend the expiry date of the First Option and Shareholder Option to 11 June 2023. The formal extension agreement for such options is in the process of being signed and a further announcement will be made shortly.

Capitalised terms used in this announcement have the same meanings as ascribed to them in the Company's announcement of 9 May 2023 entitled "Investment in LNEnergy".

 
 
   For further information, contact: 
                                              c/o Camarco 
   Reabold Resources plc                      +44 (0) 20 3757 4980 
   Sachin Oza 
   Stephen Williams 
 Strand Hanson Limited - Nominated & 
  Financial Adviser 
  James Spinney 
  James Dance 
  Rob Patrick                               +44 (0) 20 7409 3494 
 
  Stifel Nicolaus Europe Limited - Joint 
  Broker 
  Callum Stewart 
  Simon Mensley                              +44 (0) 20 7710 7600 
  Ashton Clanfield 
 
  finnCap Ltd - Joint Broker 
  Christopher Raggett 
  Barney Hayward                             +44 (0) 20 7220 0500 
 Camarco 
  Billy Clegg 
  Rebecca Waterworth                        +44 (0) 20 3757 4980

Notes to Editors

Reabold Resources plc has a diversified portfolio of exploration, appraisal and development oil & gas projects. Reabold's strategy is to invest in low-risk, near-term projects which it considers to have significant valuation uplift potential, with a clear monetisation plan, where receipt of such proceeds will be returned to shareholders and re-invested into further growth projects. This strategy is illustrated by the recent sale of the undeveloped Victory gas field to Shell, the proceeds of which are being returned to shareholders and re-invested.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCGLGDLRXGDGXI

(END) Dow Jones Newswires

June 08, 2023 02:45 ET (06:45 GMT)

Reabold Resources (LSE:RBD)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Reabold Resources Charts.
Reabold Resources (LSE:RBD)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Reabold Resources Charts.