WTI (Oct) $93.03 +$1.55, Brent (Nov) $97.92 +92c, Diff -$4.89 -63c.
USNG (Oct) $2.92 -6c, UKNG (Oct) 196.43p +12.32p, TTF (Oct) €78.915 +€4.76.
Oil price
Oil prices continue to rise, Brent is back over $100 and I for one am not surprised as you will imagine. Escalation, particularly from the Houthis by attacking Saudi towns and the Jazan refinery led to air attacks in return.
Reabold Resources
Reabold has confirmed that Rathlin Energy (UK) Ltd, operator of PEDL183 in East Yorkshire, which holds the West Newton natural gas field, has provided notice that the preparatory works for the planned recompletion, stimulation and testing programme at the West Newton A-2 (“WNA-2”) well will commence shortly.
Highlights:
- Notice provided that work will commence as part of the WNA-2 recompletion, stimulation and testing programme
- Authorities for Expenditure (“AFEs”) issued covering access road works and procurement of long-lead items, including specialty chemicals
- Final engineering activities and contract awards currently underway
- Operator plans to install a new completion string and undertake a testing programme
- Total gross programme cost estimated at approximately £2.5 million, excluding contingency; Reabold funded following its equity placing earlier this year
- Feasibility study underway to evaluate co-location of power generation and data centre assets at the West Newton site
- Community benefit fund associated with West Newton to be put in place
- Preparatory Works Underway and Notice of Community Benefit Fund
Rathlin, operator of the Licence, has provided notice of the commencement of the preparatory work ahead of the planned recompletion, stimulation and testing programme at WNA-2.
AFEs have been issued covering access road works at the West Newton ‘A’ Well Site and the procurement of long-lead items required for the programme, including specialty chemicals used in the stimulation process.
Final engineering activities and contract awards are currently underway. Subject to the completion of these preparatory activities, the well will be recompleted, followed by a period of testing.
Rathlin also announced that a community benefit fund associated with West Newton will be put in place.
The Company believes this is a low risk, low cost activity that will provide important data to further derisk the project and provide important information in optimising future production wells.
The total gross cost of the programme is estimated at approximately £2.5 million, excluding contingency. Reabold is well funded to support its share of this expenditure following the Company’s successful raising of £4.16 million earlier in the year through the issue of equity at the prevailing market price.
Data Centre and Power Generation Feasibility Study
In parallel with preparations for the WNA-2 programme, a feasibility study is underway to evaluate the potential to co-locate power generation and data centre assets at the West Newton site, utilising gas produced from the field to power on-site infrastructure. The Company believes that West Newton’s onshore location, scale and proximity to existing grid and transport infrastructure make it well suited to such applications, and further updates will be provided as this work progresses.
West Newton Background
The West Newton natural gas field is located within the Licence, onshore UK in East Yorkshire. Reabold holds a c.69.9% economic interest in the Licence and, therefore, a 69.9% economic interest in West Newton, via its c.79.8% shareholding in Rathlin, which, in turn, has a 66.67% interest in the Licence. In addition, Reabold has a 16.665% direct Licence interest.
West Newton is regarded as one of the largest onshore hydrocarbon discoveries in the UK and the Company continues to believe the project has the potential to make a meaningful contribution to domestic energy supply and UK energy security.
Stephen Williams, Co-CEO of Reabold, commented:
“We are delighted that notice for the preparatory work for the upcoming West Newton programme, ahead of the WNA-2 recompletion and testing, has been provided. This signals the commencement of a significant operational milestone for the project and an exciting moment towards unlocking the full value of West Newton.
“We remain highly confident in the strategic value of West Newton, given the scale of the resource, its onshore location and the growing importance of enhancing the UK’s domestic energy security. Reabold is well funded following our equity placing earlier this year to support this programme and the Company’s wider strategy.
“It is particularly exciting that a study is underway to assess the feasibility of co-locating data centre infrastructure at site, which would be powered by West Newton’s natural gas, offering a uniquely positioned “behind-the-meter” development solution for digital infrastructure in the UK. The UK is experiencing a significant acceleration in demand for digital infrastructure, driven by AI and the growing digital economy for which securing and scalable, affordable and reliable power has become a key constraint. We believe West Newton has the potential to provide reliable power generation, creating an additional value pathway alongside the project’s existing traditional natural gas development plans.”
This is an exciting development for the partners at West Newton and starts a process that has been underway for some time and has the scope to make a meaningful difference in terms of contribution.
I particularly like that the operator is assessing the feasibility of c0-locating data centre infrastructure at the site. This involvement could really open up access to capital for Reabold, perhaps something that some in the market may have overlooked.
West Newton has a highly strategic value as noted by the Co-CEO above and as he says ‘the scale of the resource, onshore location and growing importance of enhancing the UK’s domestic energy security’ is particularly vital in the current international climate.
With its recent funding and strong support from shareholders, Reabold is well placed to fund its calls here and also to satisfy its commitments elsewhere in the portfolio and in its ‘wider strategy’. Well managed, fully funded and with a well balanced geographical portfolio, Reabold deserves a much higher rating. My target price of 500p is not too demanding and a positive result here has the potential to re-rate the equity significantly upwards from the current level.
Union Jack Oil
Union Jack has noted the announcement released this morning by Reabold Resources plc regarding the commencement of work at West Newton, in which Union Jack has a 16.665% working interest, set out as follows: West Newton Update, Data Centre Feasibility Study – 07:00:07 09 Sep 2026 – RBD News article | London Stock Exchange
Just acknowledgement of the announcement by Reabold as above, noting its 16.665% WI in West Newton, an important part of its portfolio.
Touchstone Exploration
Touchstone has announced that it will host a presentation and Q&A via the Investor Meet Company (IMC) platform on Wednesday 16 September 2026 at 2pm BST.
Paul Baay, Touchstone’s President and Chief Executive Officer, and Brian Hollingshead, EVP, Engineering and Business Development, will present an update on Touchstone’s 2026 work programme.
The IMC presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 15 September 2026, 9:00 a.m. BST, or at any time during the live presentation.
Just noting this as it will be a very good opportunity to listen to what’s happening at Touchstone as there has been a great deal going on in the last few months.
Investors can sign up to IMC for free and add to meet Touchstone via:
https://www.investormeetcompany.com/touchstone-exploration-inc/register-investor
Investors who already follow Touchstone Exploration on the Investor Meet Company platform will automatically be invited.
And finally…
The Champions League restarted last night with two good away results as Villa beat Club Bruges 2-3 and the Noisy Neighbours won 0-2 at Porto. Tonight Liverpool host Athletico Madrid and the Gooners are at Napoli.
In the Haribo Cup Chelsea host Leeds.
In the 3rd and final test match, with a hugely changed squad England inserted Pakistan who are 101-8 as I write…
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. The writer may or may not hold investments in the companies under discussion.
