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Reabold Resources

Reabold Resources takes sizeable stake in UK offshore drilling project

Stephen Williams and Sachin Oza, co-chief executives of Reabold Resources Plc (LON:RBD), discuss with Proactive's Andrew Scott their investment in an offshore drilling project, off England’s south coast.

The project's expected to see a well drilled in the first half of 2018.

Reabold's to invest £1.5mln into Corallian Energy, to take a 35.4% stake in the privately owned UK oil firm.

Corallian holds five licence interests in the UK, including a 60% in Colter exploration prospect which is located offshore in close proximity to Wytch Farm, Britain’s largest oil field which has so far produced some 450mln barrels of crude.

Quick facts: Reabold Resources

Price: 0.925 GBX

Market: AIM
Market Cap: £37.59 m
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