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Spudding of the Iecea Mica-1 Well, Parta, Romania
Spudding of the Iecea Mica-1 Well, Parta, Romania.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \nRNS Number : 2087I Reabold Resources PLC 07 August 2019 \n\n7 August 2019\n \nReabold Resources Plc\n \n(\"Reabold\" or the \"Company\")\n \nSpudding of the Iecea Mica-1 Well, Parta, Romania \n \n \nReabold, the AIM investing company which focusses on investments in pre-cash flow upstream oil and gas projects, is pleased to note the announcement made by ADX Energy Ltd (\"ADX\") this morning. \n \nFollowing the mobilisation, setting up and commissioning of the Tacrom Futura Rig 6 on 5 August 2019, the Iecea Mica 1 (\"IM-1\") appraisal well was spudded at 10.20 a.m. on 6 August 2019 Eastern European Summer Time. The IM-1 well is located on the Iecea Mare production licence, onshore Western Romania. The first target reservoir intersection is expected in approximately 13 days and the total time to drill and evaluate the well is expected to be approximately 27 days following spud. ADX is the operator of the well.\n \nReabold is exposed to the IM-1 well via its 37.5 per cent. equity interest in Danube Petroleum, which owns 50 per cent. of the Parta exploration licence and 100 per cent. of the defined 19.4km2 Sole Risk Area, which includes the Iecea Mare Production licence. \n \nThe full announcement made by ADX, including photographs, can be viewed here: https://adx-energy.com/documents/iecea-mica-1-well---drilling-commencement.pdf\n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.\n \n \nENDS\n \nFor further information please contact:\n \n\n\n\nReabold Resources plc\nStephen Williams\nSachin Oza\n\n\nc/o Camarco\n+44 (0) 20 3757 4980\n\n\n\n\n \nStrand Hanson Limited (Nominated and Financial Adviser)\nRory Murphy\nJames Spinney\nJames Dance\n\n\n \n+44 (0)20 7409 3494\n \n \n\n\n\n\n \nCamarco\nJames Crothers\nOllie Head\nBilly Clegg\n \n\n\n+44 (0) 20 3757 4980\n\n\n\n\nWhitman Howard Limited - Joint Broker\nNick Lovering\nGrant 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 \nNotes to Editors\n \nReabold Resources plc is an investing company investing in the exploration and production (\"E&P\") sector. The Company's investing poli...