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Reabold Resources ( (GB:RBD) ) has shared an update.
Reabold Resources has agreed to increase its stake in Rathlin Energy (UK) Limited to approximately 79.8% by acquiring an additional 20.4% of shares for £700,000, enhancing its economic interest in the West Newton gas development, the largest undeveloped onshore gas field in the UK. This investment aligns with Reabold’s strategy to leverage the fiscal clarity provided by the UK budget, advancing the development and monetization of West Newton, with plans including well re-entry and stimulation, and a feasibility study for initial gas production, aimed at reducing financial hurdles and accelerating cash flow.
More about Reabold Resources
Reabold Resources plc is an investing company with a diversified portfolio focused on strategic gas projects for European energy security. It specializes in exploration, appraisal, and development of oil and gas projects, aiming for low-risk, near-term opportunities with significant valuation potential and clear monetization plans.
YTD Price Performance: -52.73%
Average Trading Volume: 35,656,737
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £5.35M
For an in-depth examination of RBD stock, go to TipRanks’ Stock Analysis page.