Reabold, the AIM investing company which focuses on investments in upstream oil and gas projects, announces that
The Farm-in Agreement relates only to the Parta Exploration License, not the sole risk appraisal area which contains both the IMIC-1 discovery and the IMIC-2 target. The Company's activity in the Iecea Mare sole risk area is ongoing and un-impacted by this development.
Reabold holds a 51% shareholding in Danube.
Contact:
Tel: +44 (0) 20 3757 4980
Notes to Editors
As an investor in upstream oil & gas projects, Reabold aims to create value from each project by investing in undervalued, low-risk, near-term upstream oil & gas projects and by identifying a clear exit plan prior to investment.
Reabold's long term strategy is to re-invest capital made through its investments into larger projects in order to grow the Company. Reabold aims to gain exposure to assets with limited downside and high potential upside, capitalising on the value created between the entry stage and exit point of its projects. The Company invests in projects that have limited correlation to the oil price.
Reabold has a highly-experienced management team, who possess the necessary background, knowledge and contacts to carry out the Company's strategy.
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