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| Date | 9 Sept 2022 |
| Time | 07:00:08 |
| Category | Corporate updates |
| ID | 8520Y |
9 September 2022
Reabold Resources plc
("Reabold" or the "Company")
Response to Governmental Energy Plan
Reabold, the AIM quoted investing company which focuses on investments in upstream oil and gas projects, notes the announcement by the UK Government of the cancellation of the moratorium on hydraulic fracturing onshore in the UK.
Reabold welcomes this change in policy and notes that it could have a materially beneficial effect on the Company's UK onshore business, including the potential to exploit additional resources within its existing licence interests and other potential opportunities.
The Company awaits further details following the announcement and will provide updates to the market as appropriate.
Regulatory Information
This announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.
For further information, contact:
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Reabold Resources plc Sachin Oza Stephen Williams
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c/o Camarco +44 (0) 20 3757 4980
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Strand Hanson Limited - Nominated & Financial Adviser James Spinney Rory Murphy James Dance
Stifel Nicolaus Europe Limited - Joint Broker Callum Stewart Simon Mensley Ashton Clanfield
Panmure Gordon - Joint Broker Hugh Rich Nick Lovering
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+44 (0) 20 7409 3494
+44 (0) 20 7710 7600
+44 (0) 207 886 2733 |
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Camarco James Crothers Billy Clegg Rebecca Waterworth |
+44 (0) 20 3757 4980
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Notes to Editors
Reabold Resources plc is an investing company investing in the exploration and production ("E&P") sector. The Company's investing policy is to acquire direct and indirect interests in exploration and producing projects and assets in the natural resources sector, and consideration is currently given to investment opportunities anywhere in the world.
As an investor in upstream oil & gas projects, Reabold aims to create value from each project by investing in undervalued, low-risk, near-term upstream oil & gas projects and by identifying a clear exit plan prior to investment.
Reabold's long term strategy is to re-invest capital made through its investments into larger projects in order to grow the Company. Reabold aims to gain exposure to assets with limited downside and high potential upside, capitalising on the value created between the entry stage and exit point of its projects. The Company invests in projects that have limited correlation to the oil price.
Reabold has a highly-experienced management team, who possess the necessary background, knowledge and contacts to carry out the Company's strategy.