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The latest update is out from Reabold Resources ( (GB:RBD) ).
Reabold Resources has entered into a binding agreement with Beacon Energy to sell its interest in LNEnergy for a €16 million earn-out mechanism. This transaction allows Reabold to crystallize value from the Colle Santo gas project without further funding requirements, while receiving shares in Beacon and maintaining a 25% pro-rata share of the project’s cash flow. The deal is structured in two phases, with Beacon acquiring Reabold’s stake in LNEnergy and planning to finance the Colle Santo project through a placing. This strategic move aligns with Reabold’s strategy of unlocking value from strategic gas discoveries and securing funding for project development.
More about Reabold Resources
Reabold Resources plc is an investing company with a diversified portfolio of exploration, appraisal, and development oil & gas projects. The company focuses on low-risk, near-term projects with significant valuation uplift potential, aiming to monetize these investments and return proceeds to shareholders while reinvesting in further growth projects. Reabold’s strategy is exemplified by its recent sale of the undeveloped Victory gas field to Shell.
Average Trading Volume: 22,243,312
Technical Sentiment Signal: Hold
Current Market Cap: £5.61M
Find detailed analytics on RBD stock on TipRanks’ Stock Analysis page.