Reabold Resources (GB:RBD) has released an update.
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Reabold Resources plc has announced a promising outlook for the West Newton gas project based on an independent feasibility study confirming the viability of a single well development, which is expected to expedite production and cash flow with low capital expenditure. The North Sea Transition Authority has approved a revised work program for the project, which aims to establish early gas flow, showcasing strong project economics with an anticipated attractive internal rate of return. The company is fully funded for the initial development phase, with operations set to commence in 2024, and holds a significant economic interest in the project.
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