17th Nov 2020 18:09
Reabold Resources PLC - oil and gas project investor - Notes that investee Corallian Energy Ltd has been offered a full interest in block 207/1a, which contains the Victory gas discovery, already appraised and estimated to have 2C contingent resources of 157 billion cubic feet.
Corallian intends to submit the Victory field development plan to the Oil & Gas Authority by the end of 2021, with a Competent Persons Report set to be completed by the end of April 2021 and first gas production in the fourth quarter of 2024.
Current stock price: 0.57 pence
Year-to-date change: d0wn 24%
By Dayo Laniyan; [email protected]
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