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Reabold Resources ( (GB:RBD) ) has provided an update.
Reabold Resources plc has completed the acquisition of additional shares in Rathlin Energy (UK) Limited, increasing its equity interest to approximately 79.8%. This acquisition enhances Reabold’s stake in the PEDL 183 Licence and the West Newton gas development, the largest undeveloped onshore gas field in the UK, boosting the project’s pre-tax NPV(10) to US$224 million net to Reabold. The transaction strengthens Reabold’s strategic positioning in the European energy security landscape, potentially offering significant returns to its stakeholders.
More about Reabold Resources
Reabold Resources plc is an investing company with a diversified portfolio of exploration, appraisal, and development projects in the oil and gas sector. The company focuses on low-risk, near-term projects with significant valuation uplift potential and a clear monetization strategy. This approach allows Reabold to return proceeds to shareholders and reinvest in growth opportunities, as demonstrated by its recent sale of the undeveloped Victory gas field to Shell.
YTD Price Performance: -10.0%
Average Trading Volume: 37,829,453
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £5.1M
Find detailed analytics on RBD stock on TipRanks’ Stock Analysis page.
