Since the beginning of 2019, Reabold has gained major exposure to the exciting West Newton discovery, potentially the biggest onshore UK gas discovery since 1973.
While in the US; the company has drilled two wells apiece on the West Brentwood and Monroe Swell fields providing an ongoing 50% share of the revenue from each field. Looking ahead, the appraisal programme on Iecea Mare in Romania provides major near term drilling exposure and the likelihood of an appraisal well on the Corallian operated Curlew-A prospect in H1 2020 has the potential to significantly augment Reabold’s UK business.
Experienced management team
The company possesses an experienced management team which has already established an exciting portfolio of investments in several upstream oil and gas E&P projects in the UK onshore and offshore sectors, the US and Romania. Reabold does not invest directly in physical oil and gas assets but rather in the equity of the operators of the assets to gain access to specific projects and to mitigate the risk of being cash called as a minority partner. In this regard, Reabold can be diluted if the companies in which it is invested elect to raise further equity. However, as the company’s track record with its
investment in Corallian Energy in particular suggests, Reabold usually participates in the funding activities of its portfolio companies to maintain or increase its interest.
PDF Link Here Reabold_Resources_Full_portfolio_update_8_Aug_2019_.pdf