16 August 2018
Reabold Resources Plc
"Reabold" or "the Company"
Parta Information Memorandum
Reabold notes the announcement made by ADX Energy on the ASX in relation to the Information Memorandum on its Romanian Assets held via its subsidiary Danube Petroleum ("Danube").
Through Reabold's 29% interest in Danube, the Company has exposure to the low risk appraisal programme on the Parta license, which has the potential to create significant value. Situated within a proven and stable hydrocarbon region with significant existing infrastructure, the Parta licence benefits from low drilling and operating costs.
A two well appraisal campaign is planned by Danube on the license aiming to test 49.9 BCF of prospective and contingent resource commencing in Q4 2018/Q1 2019.
The full Information Memorandum can be seen here: http://news2.paritech.com/comnews/20180816/02010287.pdf
ENDS
For further information please contact:
Reabold Resources plc Stephen Williams Sachin Oza |
c/o Camarco +44 (0) 20 3757 4980 |
Beaumont Cornish Limited Roland Cornish James Biddle Felicity Geidt |
+44 (0) 20 7628 3396 |
Camarco James Crothers Ollie Head Billy Clegg |
+44 (0) 20 3757 4980 |
Whitman Howard Limited - Joint Broker Nick Lovering Grant Barker |
+44 (0) 20 7659 1234 |
Turner Pope Investments (TPI) Ltd - Joint Broker Andy Thacker |
+44 (0) 20 3621 4120 |
Notes to Editors
Reabold Resources is an investor in upstream oil & gas projects with an aim 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. Management believes the current distress in the oil & gas industry presents an opportune time to deploy capital in undervalued assets with huge potential.
