Business
Update on Upcoming Drilling at Reabold California
Update on Upcoming Drilling at Reabold California.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \nRNS Number : 2089I Reabold Resources PLC 22 November 2018 \n\n22 November 2018 \nReabold Resources Plc\n(\"Reabold\" or \"the Company\")\n \nUpdate on Upcoming Drilling at Reabold California\n \nReabold, the oil and gas investing company, is pleased to announce that good progress has been made ahead of drilling at both the Monroe Swell and West Brentwood areas, onshore California.\n \nAt Monroe Swell, the first well will initially utilise the existing Burnett-2 well bore, before focusing on a new target in a previously untapped portion of the oil field. The drilling location and access road have been successfully graded, and a workover rig is onsite and conducting operations to prepare the Burnett-2 re-drill well for the drilling rig. Following the Thanksgiving holidays this weekend, the drilling rig is expected to be on site within 7-10 days. The Company will earn into a 50% interest in Monroe Swell on completion of a two well programme.\n \nAt West Brentwood, where the Company has earned a 50% interest, as previously announced, the site has already been upgraded to allow for the next well, Ginochio-2 (\"G-2\"), to be drilled from the existing VG-3 pad. Work has now commenced on installing the G-2 cellar and preparing the site to receive the drilling rig. The drilling rig is expected to be mobilised to G-2 immediately following completion of its operations at Monroe Swell.\n \n \nStephen Williams, co-CEO, commented:\n\"Very good progress has been made at our California projects on both the regulatory and operational fronts, and we are very pleased to be in a position to deliver our second and third wells in the California campaign over the coming weeks.\"\n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.\n \nENDS\n \n \nThe information contained in this release has been reviewed by Mr Dero Parker, President of Integrity Management Solutions. Mr Parker is a consultant and past owner operator of both oil and gas assets as well as hundreds of square miles of 3 dimensional seismic data and has 42 years of technical, operational, commercial and management experience in appraisal, development and production of oil and gas resources. Mr. Parker has reviewed the data contained in this release an...