Reabold Resources Plc

Reabold co-CEO, Stephen Williams, discussed the recently announced further investment in Rathlin Energy and what it means for the West Newton phased development plan with [@BRR Media] Watch the full interview here: https://bit.ly/3Zy4SjR

Reabold is pleased to announce that it is has agreed to acquire 20.4% of the shares in Rathlin from Connaught for a total cash consideration of £700,000, subject to approval from Connaught shareholders. This will take Reabold's total shareholding in Rathlin to approximately 79.8%.   Rathlin is operator of the PEDL183 Licence on the West Newton gas development, located onshore UK in East Yorkshire.    West Newton is the largest undeveloped onshore gas field in the UK, located near infrastructure and a gas hungry industrial base.   Sachin Oza, co-CEO of Reabold, commented: "The UK budget has provided much needed fiscal clarity and against this more stable backdrop, we are confident in our ability to progress the West Newton work programme and bring this important UK gas asset to the next stage of development and monetisation. As the energy transition in the UK moves forward, the economic, fiscal, energy security and environmental case for using indigenous gas has never been stronger."   Read the full RNS here: https://bit.ly/3VznFda

Reabold has announced its unaudited interim results for the six months ended 30 June 2024. Highlights of Reabold’s interim results include: ✅Cash and cash equivalents up 41% at £7.6mn 👉 Final tranche cash of £4.4mn for Corallian sale received from Shell 🤝Execution of a non-binding Heads of Agreement between Gunvor and LNEnergy for the purchase of LNG from Colle Santo Sachin Oza and Stephen Williams, co-CEOs of Reabold: “Reabold enters the second half of the year with a strong balance sheet and a number of exciting catalysts on the horizon. The Company is excited by the potential of the Colle Santo gas project, which holds significant gas reserves, and the regulatory process continues to be encouraging. We are pleased LNEnergy has established a strong relationship with Gunvor in the context of a gas offtake partner. “The revised work programme for PEDL 183 confirms that significant value can be unlocked at West Newton through the early production plan, which is technically robust and economically attractive due to a low capex requirement, and the JV remains focused on delivering this strategic UK gas project. “We look forward to replicating the success of the Corallian sale elsewhere in the portfolio as we carry out the Reabold strategy to create value for shareholders.” Read the full announcement here: https://bit.ly/47JduYh

Reabold is pleased to announce that it has agreed to increase its interest in LNEnergy by a further 1.0% through the subscription of 17 new ordinary shares, for a cash consideration of approximately £205,000. LNEnergy has also agreed to grant Reabold a warrant to subscribe in cash, at the Company's sole discretion, for a further approximately £747,000 worth of new ordinary shares for £12,047 per share. The Warrant has an exercise period of 6 months and if exercised, would take Reabold’s shareholding in LNEnergy to approximately 30.6% Stephen Williams, co-CEO of Reabold: "We are extremely pleased once again to be able to increase our interest in LNEnergy. Through the agreed Warrant, Reabold will be able, at its discretion, to further increase its investment in LNEnergy as the regulatory process for Colle Santo progresses.” Read the full RNS here: https://bit.ly/3X7XJqe

Reabold co-CEOs, Stephen Williams and Sachin Oza, discussed the recently announced West Newton Gas Export Feasibility Study, the approval of the Revised Work Programme and what it means for the development of the project with BRR Media Watch the full interview here: https://shorturl.at/PlSqe

Reabold is pleased to announce the results of the West Newton Gas Export Feasibility Study conducted by CNG Services, and that the NSTA has approved a revised work programme for PEDL 183 onshore UK.    The West Newton Gas Export Feasibility Study concluded that an initial single well development and gas export plan for West Newton could accelerate production and cash flow whilst requiring limited capex.   The West Newton Feasibility Study: ✅Confirms the technical and economic viability of a single well development plan ✅Concludes a single well development has excellent project economics ✅First gas soon after drilling and completing a producer well   “This phased development plan allows gas production to be brought to market within months of drilling, generating significant early cash flow whilst we progress the full field development plan. With the industry currently suffering from a lack of available development capital, the ability to achieve early production with limited capex is strategically extremely valuable.   “With the necessary approval from the NSTA for the revised work programme for PEDL 183 secured, Reabold can continue to progress this important UK gas project in the most optimal manner,” said Sachin Oza, co-CEO of Reabold.   Find out more: https://lnkd.in/e7QMHEHP

Reabold today announces its audited financial results for the year ended 31 December 2023. Reporting period ended 31 December 2023 highlights: - Acquisition of a 26.1% interest in LNEnergy for £4.3m - Cash of £5.4m as at year end 2023; net assets of £42.2m - Receipt of £5.2m cash proceeds Post period end highlights: - Final tranche cash proceeds of £4.4m for the sale of Corallian received from Shell - Execution of non-binding Heads of Agreement between Gunvor and LNEnergy for the purchase of LNG from Colle Santo - Gas Export Feasibility study completed at West Newton The Annual Report is publicly available at: https://bit.ly/3CXsCms

Reabold is pleased to publish the positive conclusions of a Carbon Intensity Study on the West Newton gas development, located within PEDL183 onshore UK. The West Newton project has an AA rating for Carbon Intensity for its potential upstream gas and condensate production, the lowest possible carbon intensity rating category on GaffneyCline's scale. The West Newton field has a Carbon Intensity significantly lower than the UK average and onshore and offshore analogues. It is also significantly lower than the average imported LNG, based on the NSTA Natural Carbon Footprint Analysis published in July 2023. Sachin Oza, co-CEO of Reabold: "The AA rating demonstrates the low carbon credentials of the West Newton project and is an example of the opportunities available in the UK to power the country through lower carbon, home grown energy." "We believe West Newton is an important strategic asset to the UK as the country looks to secure domestic energy supply for secure and affordable energy, at a time when the country is exposed to potentially significant gas supply disruptions.” The report on the Carbon Intensity of the West Newton Field can be found at the following link: https://bit.ly/3CXsCms

The Cavendish note this morning on the signing of an HoA with Gunvor covering the entire planned output of the Colle Santo gas field, argues that the agreement provides “strong validation for the project.”   Read the full research note here: https://bit.ly/42SNcAF

Reabold co-CEOs, Stephen Williams and Sachin Oza, discussed the recently announced offtake and prepay agreement with Gunvor Group Ltd for LNG from the Colle Santo gas field in Italy with BRR Media. Watch the full interview here: https://bit.ly/3UIHajm