15th Sep 2022 12:29
Reabold Resources PLC - oil and gas company with projects in the UK, the US and Romania - Completes the acquisition of Corallian Energy Ltd's working interest in all the non-Victory licences within the Corallian portfolio. Victory is a gas field in the Shetland Isles.
On Thursday, the company said that it sold Corallian and its Victory license to an unnamed oil and gas major for GBP32 million. The valuation is a "significant uplift" of Reabold's investment of GBP7.5 million in Corallian since late 2017. It held 50% in Corallian.
Current stock price: 0.35 pence, down 4.6% on Wednesday
12-month change: up 31%
By Abby Amoakuh; [email protected]
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