Business
Commencement of drilling operations at Colter
Commencement of drilling operations at Colter.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \nRNS Number : 2663P Reabold Resources PLC 06 February 2019 \n\n6 February 2019\n \nReabold Resources plc\n(\"Reabold\" or the \"Company\")\n \nCommencement of drilling operations at Colter, offshore Dorset\n \nReabold is pleased to report that drilling of the Colter well, on Licence P1918 (98/11a-5), using the ENSCO-72 Jack-Up rig, commenced at 10:10 hrs on 6 February 2019. The drilling is expected to take approximately three weeks to reach a planned total depth of 1,830 metres. Following the completion of drilling operations, the well will be evaluated and permanently plugged and abandoned.\n \nFuture follow-on activity on the Colter prospect will be determined post the evaluation of this appraisal well.\n \nReabold's 16.12 per cent. effective interest in Colter is via its 32.9 per cent. interest in Corallian Energy Limited (\"Corallian\"), which in turn holds a 49 per cent. interest in, and is the operator of, Licence P1918. \n \nSachin Oza, co-CEO of Reabold, commented:\n\"Colter is a high value opportunity which, if successful, could create considerable value for Reabold and its shareholders. \n\"With prospective resources of 23 million barrels of oil equivalent potentially de-risked by this well, we look forward to providing further updates on Colter, and other drilling activity in our portfolio of assets, in due course.\"\n \nENDS\n \nFor further information please contact:\n \n\n\n\nReabold Resources plc\nStephen Williams / Sachin Oza\n\n\nc/o Camarco\n+44 (0) 20 3781 8331\n\n\n\n\n \nStrand Hanson Limited (Nominated and Financial Advisor)\nRory Murphy / James Spinney / James Dance\n\n\n \n+44 (0)20 7409 3494\n \n\n\n\n\nCamarco\nJames Crothers / Ollie Head / Billy Clegg\n \n\n\n+44 (0) 20 3781 8331\n\n\n\n\nWhitman Howard Limited - Joint Broker\nNick Lovering / Grant Barker\n \n\n\n+44 (0) 20 7659 1234 \n\n\n\n\nTurner Pope Investments (TPI) Ltd - Joint Broker\nAndy Thacker\n\n\n+44 (0) 20 3621 4120\n\n\n\n \n \n\n\n \n Notes to Editors\n \nReabold 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 t...