Business
Unaudited Interim Results 6months ended 30 June 21
Unaudited Interim Results 6months ended 30 June 21.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6126N\n Reabold Resources PLC\n 30 September 2021\n \n \n \n 30 September 2021\n \n REABOLD RESOURCES PLC\n (\"Reabold\" or \"the Company\")\n \n Unaudited Interim Results for six months ended 30 June 2021\n \n Reabold Resources plc (AIM: RBD), the investor in upstream oil and gas projects, announces its unaudited interim results for the six months ended 30 June 2021.\n \n For further information, contact:\n \n \n \n \n Reabold Resources plc\n Sachin Oza\n Stephen Williams\n \n \n \n c/o Camarco\n +44 (0) 20 3757 4980\n \n \n \n \n \n \n Strand Hanson Limited - Nominated & Financial Adviser\n James Spinney\n Rory Murphy\n James Dance\n \n Stifel Nicolaus Europe Limited - Joint Broker\n Callum Stewart\n Simon Mensley\n Ashton Clanfield\n \n Panmure Gordon - Joint Broker\n Hugh Rich\n Nick Lovering\n \n \n \n +44 (0) 20 7409 3494\n \n \n \n \n +44 (0) 20 7710 7600\n \n \n \n \n +44 (0) 207 886 2733\n \n \n \n \n Camarco\n James Crothers\n Rebecca Waterworth\n Billy Clegg\n \n \n \n +44 (0) 20 3757 4980\n \n \n \n \n \n \n \n \n CHAIRMAN'S STATEMENT\n \n \n \n \n \n The Board \n is pleased to report on the progress in the Company's investment portfolio in the six months ended 30 June 2021, and post-period end.\n \n \n \n \n \n Highlights:\n \n \n · \n Further investment of £1.0 million into Corallian Energy Limited (\"Corallian\") by way of a Convertible Loan to fund the submission of a draft Field Development Plan for the Victory gas field, planned to occur before the end of 2021. Subsequently, the Company sold 50% of its Convertible Loan for net proceeds of £0.5 million to a group of strategic investors.\n \n \n · \n Reabold acquired an additional 13.12% of Corallian shares from existing Corallian shareholders, in exchange for the issue of 468,994,086 new Reabold shares, resulting in the Company now owning 49.99% of Corallian, thereby increasing its interest in the Corallian owned Victory gas discovery.\n \n \n · \n West Newton B-1Z completion and testing operations commenced, targeting hydrocarbons in the conventional Kirkham Abbey Formation reservoir, which is key for the future development of the West Newton licence and, in particular, for indicating ...