Reabold Resources plc has invested a further £1,650,000 to increase its holding to 26.1% in the majority owner of the Colle Santo gas field. COLLABORATION The company, which signed the original conditional agreement in May 2023, exercised its second option to subscribe for 116 new ordinary shares in LNEnergy Ltd which holds 90% of the field. […]
Tag: LNEnergy Ltd
Reabold increases interest in Colle Santo gas field
Reabold Resources plc has increased is shareholding to 18.4% in majority option holder, LNEnergy Ltd, of the Colle Santo gas field in Abruzzo, Italy. FINANCING The company partially exercised its second option by subscribing for a further 11 new ordinary shares in LNEnergy, equivalent to 0.8%, for £150,000 cash. Reabold retains the right to invest a […]
Reabold owns 17.6% in Colle Santo option holder
Reabold Resources plc plans to increase its interest to 17.6% for £250,000 cash in the operator of the Colle Santo gas field. SECOND OPTION The company will acquire a further 1.6% in LNEnergy Ltd by subscribing for 18 new ordinary shares each at £13,889, funded from existing cash resources. As part of the investment, LNEnergy has […]
Colle Santo gas field nears start of early production
Operations are due to start at the Colle Santo onshore gas field after the Abruzzo regional government signalled its intention to approve an early production programme. DE-RISKING Reabold Resources plc holds a 16.2% equity interest in the project, estimated to hold 65bcf of 2P reserves, while operator LNEnergy Ltd has an exclusive option over 90% […]
Well work and monitoring approved for Colle Santo
Reabold Resources plc’s investee company in the Colle Santo gas field has received permission for well work and to start installation and commissioning of the monitoring network. LNG PROJECT LNEnergy, which has an exclusive option over 90% interest in the Italian onshore field, is now allowed to begin well integrity and well service testing on […]
Reabold increases interest in Colle Santo gas field
Reabold Resources plc has increased its interest for £2 million in the Colle Santo gas field in the Abruzzo region, onshore Italy. TERMS The company’s initial 3.1% interest now stands at 16.2% in LNEnergy which holds a 90% interest in the field. Reabold will pay £500,000 with existing cash and £1,500,000 with 810,810,811 new ordinary […]