Breakeven Date Change • May 20
Forecast to breakeven in 2026 The analyst covering Reabold Resources expects the company to break even for the first time. New forecast suggests losses will reduce by 12% to 2025. The company is expected to make a profit of UK£8.80m in 2026. Average annual earnings growth of 170% is required to achieve expected profit on schedule. Board Change • May 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Feb 17
Reabold Resources plc Provides West Newton Update Reabold Resources plc confirmed the following update on the West Newton gas field, located within PEDL183 (the "Licence"), onshore UK in East Yorkshire. England's environmental regulator, the Environment Agency ("EA"), has issued Rathlin Energy (UK) Limited ("Rathlin"), operator of the Licence, the variation to the permit for the West Newton 'A' Well Site allowing for the recompletion works to be carried out at the West Newton A-2 ("WNA-2") well subject to certain pre-operational conditions. This is a key regulatory milestone on the path toward development and eventual production of the West Newton gas field. The Company believes that the planned recompletion of the WNA-2 well is a low risk and low cost activity that will further derisk the project and provide important information in optimising future production wells. The Company is confident that West Newton will prove to be an important strategic asset to the UK as the country looks to secure domestic energy supply and affordable energy. Reabold holds a c.69.9% economic interest in West Newton and PEDL 183 via its c.79.8% shareholding in Rathlin, which, in turn, has a 66.67% interest in PEDL 183. In addition, Reabold has a 16.665% direct licence interest in PEDL 183. Annonce • Jun 16
Reabold Resources Plc, Annual General Meeting, Jul 11, 2025 Reabold Resources Plc, Annual General Meeting, Jul 11, 2025. Location: the offices of hill dickinson llp, the broadgate tower, 20 primrose street, ec2a 2ew, london United Kingdom Annonce • Dec 13
Reabold Resources Plc (AIM:RBD) agreed to acquire an additional 20.40% stake in Rathlin Energy (UK) Limited from Connaught Oil & Gas Ltd. for £0.70 million. Reabold Resources Plc (AIM:RBD) agreed to acquire an additional 20.40% stake in Rathlin Energy (UK) Limited from Connaught Oil & Gas Ltd. for £0.70 million on December 12, 2024. A cash consideration of £0.7 million will be paid by Reabold Resources Plc. As part of consideration, £0.7 million is paid towards common equity of Rathlin Energy (UK) Limited. Upon completion, Reabold Resources Plc will own 79.80% stake in Rathlin Energy (UK) Limited. In the 12 months ended 31 December 2023, Rathlin reported a net loss of £0.85 million.
The transaction is subject to approval of offer by Connaught shareholders.
Neil McDonald of Cavendish Capital Markets Limited acted as financial advisor for Reabold Resources Plc. Board Change • Aug 28
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jul 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Jun 06
Reabold Resources Plc, Annual General Meeting, Jun 28, 2024 Reabold Resources Plc, Annual General Meeting, Jun 28, 2024. Location: the offices of hill dickinson llp, the broadgate tower, 20 primrose street, ec2a 2ew, london United Kingdom Board Change • Apr 09
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Feb 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.17m (US$9.91m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings are forecast to decline by an average of 20% per year for the foreseeable future. Revenue is less than US$1m. Market cap is less than US$10m (€9.17m market cap, or US$9.91m). Minor Risks Currently unprofitable and not forecast to become profitable next year (UK£3.7m net loss next year). Shareholders have been diluted in the past year (11% increase in shares outstanding). Board Change • Jan 02
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 21
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Dec 16
Reabold Resources plc received a Requisition Notice from Pershing Nominees Limited On December 13, 2023, Reabold Resources plc announced that on November 22, 2023, it has received a requisition letter from Pershing Nominees Limited on behalf of Kamran Sattar, Stephen Pycroft, Napsbury Holdings Ltd, Lagan Holdings Ltd, Brendan Kerr, Michael Lagan, Kevin Lagan, John Patrick Keehan, Keltbray Ltd, Majithia S, Sheikh B, Asim Sarwar and Roman Teslya, under section 303 of the Companies Act, requesting the Board to convene a general meeting of Shareholders to consider resolutions to remove the entire current board of directors and replace them with 4 new directors of own choice. The board recommended shareholders to vote against all the resolutions at the General Meeting on January 10, 2023. Board Change • Nov 09
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Sep 05
Reabold Resources plc Announces Colle Santo Project Enters Operational Phase Reabold Resources plc provided a further update on developments in the approvals process for the onshore Colle Santo gas field in Abruzzo, Italy. Following a review with the heads of Environment, Energy, and Mining of the Abruzzo Region, the Abruzzo regional government confirmed its agreement with, and intention to approve, by decree, the Early Production Programme for the Colle Santo gas field, allowing early revenue generation from the Colle Santo project. The Early Production Programme includes the following: Production of gas for a period of 24 months; Conversion of gas to power for sale to the electricity grid; and Renewal of the Abruzzo Region's earlier 24-month test approval permit. It is anticipated that the formal decree from the Abruzzo Region will be provided over the coming months and accordingly, LNEnergy, has entered the operational phase of development at the Colle Santo gas Field. Once on stream, the generation of electricity during the Early Production Programme will be from the use of gas turbines, and the electricity will be tied into a nearby distribution connection point enabling revenue generation. Much of the equipment that is needed for the electricity generation is available locally and can be provided on a rental basis, minimising the capital required. In addition to providing valuable accelerated cash flow, the Early Production Programme and associated monitoring will facilitate completion of the work required by the VIA Commission for the granting of the full development concession for the Colle Santo Gas field. As announced on 9 May 2023 and 12 June 2023, Reabold acquired a 16.2% equity interest in LNEnergy, whose primary asset is an exclusive option over a 90% interest in the Colle Santo gasfield. The Colle Santo gas field is a highly material gas resource with an estimated 65Bcf of 2P reserves, with two production wells already drilled and the field is development ready. LNEnergy believes that the field has the potential to generate an estimated EUR 11 million to EUR 12 million of post-tax free cash flow per annum. New Risk • Jun 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (48% average weekly change). Earnings are forecast to decline by an average of 94% per year for the foreseeable future. Revenue is less than US$1m (UK£560k revenue, or US$712k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (UK£2.2m net loss in 2 years). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (€15.3m market cap, or US$16.6m). Annonce • Jun 14
Reabold Resources Plc (AIM:RBD) agreed to acquire additional 13.2% stake in LNEnergy Limited for £1.7 million. Reabold Resources Plc (AIM:RBD) agreed to acquire additional 13.2% stake in LNEnergy Limited for £1.7 million on June 12, 2023. The cash consideration of £500,000, to be satisfied through existing cash resources (the First Option), and £1,500,000 through the issue of 810,810,811 new ordinary shares to certain LNEnergy shareholders (the Shareholder Option). As a result, Reabold will own a 16.2% equity interest in LNEnergy. Furthermore, Reabold retains the Second Option, expiring November 30, 2023, to acquire, at its sole discretion, a further 10.5% in new shares in LNEnergy for an aggregate cash consideration of £1,800,000, which would be satisfied through either cash or shares, at the option of LNEnergy. James Spinney, James Dance, and Rob Patrick of Strand Hanson Limited acted as financial advisor to Reabold Resources. Reported Earnings • Jun 01
Full year 2022 earnings released Full year 2022 results: Net loss: UK£45.0k (loss narrowed 98% from FY 2021). Revenue is forecast to grow 55% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Oil and Gas industry in Germany. Annonce • May 31
Reabold Resources Plc, Annual General Meeting, Jun 29, 2023 Reabold Resources Plc, Annual General Meeting, Jun 29, 2023. Annonce • Feb 10
Reabold Resources Plc, Annual General Meeting, Feb 28, 2023 Reabold Resources Plc, Annual General Meeting, Feb 28, 2023, at 12:00 Coordinated Universal Time. Location: offices of Hill Dickinson LLP, The Broadgate Tower, 20 Primrose Street, London EC2A 2EW London: United Kingdom Agenda: To approve Buyback Authority; to discuss Capital Reduction; and to discuss adoption of the New Articles of the Company. Annonce • Jan 04
Reabold Resources Plc (AIM:RBD) completed the acquisition of Simwell Resources Ltd. Reabold Resources Plc (AIM:RBD) entered into a Sale and Purchase Agreement to acquire Simwell Resources Ltd for £1.2 million on September 28, 2022. The transaction is conditional on customary conditions including approval by the North Sea Transition Authority ("NSTA"). As per the SPA the Simwell will be subject to a lock-in undertaking (save for customary exceptions) in respect of (i) the Initial Consideration Shares for a period of 6 months following completion of the SPA and (ii) the Deferred Consideration Shares for a period of 6 months following the date of issue of the Deferred Consideration Shares. James Spinney, Rory Murphy and James Dance of Strand Hanson Limited acted as financial advisor to Reabold Resources Plc (AIM:RBD).
Reabold Resources Plc (AIM:RBD) completed the acquisition of Simwell Resources Ltd on January 3, 2023. Board Change • Dec 22
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 21
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Nov 03
Shell U.K. Limited completed the acquisition of Corallian Energy Limited from Reabold Resources Plc (AIM:RBD) for £32 million. An unknown buyer entered into a non binding letter of agreement to acquire Corallian Energy Limited from Reabold Resources Plc (AIM:RBD) on May 4, 2022. Under the terms, the unknown buyer offered £32 million at £3.20 per Corallian share. As of October 5, 2022, Shell U.K. Limited agreed to acquire Corallian Energy Limited from Reabold Resources Plc (AIM:RBD). Strand Hanson Limited acted as financial advisor to Reabold along with professionals James Spinney, Rory Murphy and James Dance.
Shell U.K. Limited completed the acquisition of Corallian Energy Limited from Reabold Resources Plc (AIM:RBD) on November 1, 2022. Reported Earnings • Oct 01
First half 2022 earnings released: EPS: UK£0 (vs UK£0 in 1H 2021) First half 2022 results: EPS: UK£0 (in line with 1H 2021). Net loss: UK£2.72m (loss widened 96% from 1H 2021). Revenue is expected to decline by 70% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 1.5%. Annonce • Sep 29
Reabold Resources Plc (AIM:RBD) entered into a Sale and Purchase Agreement to acquire Simwell Resources Ltd for £1.2 million. Reabold Resources Plc (AIM:RBD) entered into a Sale and Purchase Agreement to acquire Simwell Resources Ltd for £1.2 million on September 28, 2022. The transaction is conditional on customary conditions including approval by the North Sea Transition Authority ("NSTA"). As per the SPA the Simwell will be subject to a lock-in undertaking (save for customary exceptions) in respect of (i) the Initial Consideration Shares for a period of 6 months following completion of the SPA and (ii) the Deferred Consideration Shares for a period of 6 months following the date of issue of the Deferred Consideration Shares. James Spinney, Rory Murphy and James Dance of Strand Hanson Limited acted as financial advisor. Board Change • Sep 21
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Sep 16
An unknown buyer completed the acquisition of Corallian Energy Limited from Reabold Resources Plc (AIM:RBD). An unknown buyer agreed to acquire Corallian Energy Limited from Reabold Resources Plc (AIM:RBD) on May 4, 2022. Strand Hanson Limited acted as financial advisor to Reabold along with professionals James Spinney, Rory Murphy and James Dance.
An unknown buyer completed the acquisition of Corallian Energy Limited from Reabold Resources Plc (AIM:RBD) on September 15, 2022. Annonce • Jul 02
Reabold Resources Plc Announces Board Changes Reabold announced that, further to the appointment of Chris Connolly as Chief Financial Officer of the Company, as announced on 13 May 2022,Anthony Samaha will assume the role of Non-Executive Director, having previously acted as the Company's Finance Director. Breakeven Date Change • Jun 07
No longer forecast to breakeven The 2 analysts covering Reabold Resources no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of UK£300.0k in 2023. New consensus forecast suggests the company will make a loss of UK£1.30m in 2023. Board Change • Jun 07
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Jun 02
Reabold Resources Plc, Annual General Meeting, Jun 29, 2022 Reabold Resources Plc, Annual General Meeting, Jun 29, 2022, at 09:30 Coordinated Universal Time. Location: Hill Dickinson LLP, The Broadgate Tower, 20 Primrose Street London United Kingdom Annonce • May 13
Reabold Resources plc Appoints Chris Connolly as Chief Financial Officer Reabold Resources Plc announce the appointment of Chris Connolly as Chief Financial Officer to the Company. Chris has over 16 years of experience in the resource industry and joins the Company from EnQuest PLC, where he was Group Financial Controller. Chris has experience across the resources industry having initially trained at Ernst & Young LLP before moving to Canamens Energy Limited, De Beers Group and Ophir Energy. Board Change • Mar 15
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Feb 09
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Jan 18
Reabold Resources Announces Initial Results of Analysis of the West Newton Extended Well Test Reabold Resources Plc announced initial results of analysis of the West Newton Extended Well Test ("EWT") programme carried out in the second half of 2021 by RPS Group ("RPS") and the results of analysis carried out on fluids produced to surface. Following the completion of the West Newton EWT in Fourth Quarter 2021, the project operator, Rathlin Energy Limited ("Rathlin"), commissioned RPS, a highly-regarded independent consultant, to produce a review that assessed well productivity potential from the West Newton field, and investigated optimised drilling and well completion methodologies. The RPS review concluded that the Kirkham Abbey reservoir is likely to deliver substantially higher production rates from horizontal wells compared to vertical wells. The report also concluded that, based on RPS modelling, most of the acid stimulation carried out during the EWT only interacted with a small section of the perforated intervals due to the permeability contrast across the Kirkham Abbey formation in both wells. This suggests that potential flow rates from wells in the Kirkham Abbey reservoir would benefit from an optimised acid stimulation programme that includes active diversion techniques. Whilst the well productivity and therefore project economics are significantly optimised through horizontal drilling, the modelling also indicates that optimised acidization should lead to both oil and gas flow from vertical wells. Therefore, it may be possible to recomplete the existing wells to achieve sustained flow rates, which would further de-risk and help optimise subsequent horizontal drilling. Further evaluation is ongoing to support the economic feasibility of horizontal wells, including an assessment of longer term production rates. A number of additional workstreams and studies are currently underway, and further announcements are expected in due course. Breakeven Date Change • Jan 04
Forecast breakeven date pushed back to 2023 The 3 analysts covering Reabold Resources previously expected the company to break even in 2021. New consensus forecast suggests losses will reduce by 2.5% per year to 2022. The company is expected to make a profit of UK£3.20m in 2023. Average annual earnings growth of 82% is required to achieve expected profit on schedule. Board Change • Jan 04
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Breakeven Date Change • Nov 19
Forecast to breakeven in 2023 The 3 analysts covering Reabold Resources expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of UK£3.20m in 2023. Average annual earnings growth of 82% is required to achieve expected profit on schedule. Board Change • Nov 19
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Breakeven Date Change • Oct 04
Forecast to breakeven in 2022 The 2 analysts covering Reabold Resources expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of UK£800.0k in 2022. Average annual earnings growth of 123% is required to achieve expected profit on schedule. Board Change • Oct 04
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Mike Felton was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Breakeven Date Change • Jul 10
Forecast breakeven pushed back to 2022 The 2 analysts covering Reabold Resources previously expected the company to break even in 2021. New consensus forecast suggests losses will reduce by 93% to 2021. The company is expected to make a profit of UK£800.0k in 2022. Average annual earnings growth of 108% is required to achieve expected profit on schedule. Annonce • Jun 25
Reabold Resources plc Completes Environmental Baseline Survey At Victory Reabold, the investor in upstream oil and gas projects, provided an update on the Victory Gas Discovery ("Victory"), which is located in the north-west region of the Shetland Isles. Reabold has a 49.99 per cent. interest in Corallian Energy Limited ("Corallian"), which has a 100 per cent. interest in Victory and is the operator of the asset. Highlights: Victory Environment Baseline Survey ("EBS") successfully completed. The EBS is a key milestone for the submission of a draft Field Development Plan ("FDP") to the UK's Oil and Gas Authority ("OGA"), planned for the end of 2021. Reabold provided the funding to Corallian for the EBS by way of a Convertible Loan Instrument as announced on 22 February 2021. Data acquisition for the Victory EBS was successfully completed on 23 June 2021, with the survey completed within the budget estimate and with zero health and safety incidents. Data acquired include side-scan sonar, multibeam echosounder, seabed sediment samples, and video and camera stills over the proposed project sites. This data will be used to complete an Environmental Impact Assessment and ultimately an Environmental Statement for the Victory project. Data and sample processing and interpretation with take approximately four months. The Environmental Statement remains on schedule to be submitted to the relevant UK authorities, together with the Victory draft FDP, by the end of 2021. Additional updates will be provided during the second half of the year as further progress is made towards FDP submission. Victory is considered by Corallian to be a simple, low-risk gas development which has been fully appraised and requires no additional pre-development drilling. SLR Consulting estimates that Victory has 2C resources of 157 BCF and NPV10 valuations ranging from circa £85 million (based on a price forecasts of 42.5p/therm) to circa £146 million (based on historical average gas prices and base case valuation of 50p/therm). Breakeven Date Change • Jun 18
Forecast breakeven pushed back to 2022 The 2 analysts covering Reabold Resources previously expected the company to break even in 2021. New consensus forecast suggests losses will reduce by 93% to 2021. The company is expected to make a profit of UK£800.0k in 2022. Average annual earnings growth of 108% is required to achieve expected profit on schedule. Annonce • May 11
Reabold Resources Plc (AIM:RBD) completed the acquisition of additional 13.12% stake in Corallian Energy Limited from its existing shareholder for £3.4 million on May 10, 2021. Reabold Resources Plc (AIM:RBD) offer to acquire additional 13.12% stake in Corallian Energy Limited from its existing shareholder for £3.4 million on April 27, 2021. Reabold will up to 13.12% of Corallian Energy shares at a ratio of 474 Reabold shares per Corallian share. Reabold would issue a maximum of 468 million Reabold shares assuming a full take up by Corallian shareholders as part of this Offer. The Offer is conditional upon the satisfaction of certain conditions including, but not limited to, receipt of any necessary regulatory approvals and the passing of a resolution by the shareholders of Corallian. If the conditions are not satisfied by May 28, 2021 (or such later date and time as agreed between Reabold and Corallian) ("Longstop Date"), the Offer shall automatically lapse. There is no minimum acceptance condition under the Offer and therefore Reabold may end up acquiring less than an additional 13.12% of Corallian under the Offer if there is not a full take up of the Offer. The Offer will remain open for acceptances by Corallian shareholders until May 6, 2021 (or such later time(s) and/or date(s) as Reabold and Corallian may agree to in writing but not later than the Longstop Date). Upon completion, Reabold will have maximum shareholding of 49.99% in Corallian. James Spinney, Rory Murphy and James Dance of Strand Hanson Limited acted as financial advisor for Reabold Resources.
Reabold Resources Plc (AIM:RBD) completed the acquisition of additional 13.12% stake in Corallian Energy Limited from its existing shareholder on May 10, 2021. Annonce • Apr 28
Reabold Resources Plc (AIM:RBD) offer to acquire additional 13.12% stake in Corallian Energy Limited from its existing shareholder for £3.4 million Reabold Resources Plc (AIM:RBD) offer to acquire additional 13.12% stake in Corallian Energy Limited from its existing shareholder for £3.4 million on April 27, 2021. Reabold will up to 13.12% of Corallian Energy shares at a ratio of 474 Reabold shares per Corallian share. Reabold would issue a maximum of 468 million Reabold shares assuming a full take up by Corallian shareholders as part of this Offer. The Offer is conditional upon the satisfaction of certain conditions including, but not limited to, receipt of any necessary regulatory approvals and the passing of a resolution by the shareholders of Corallian. If the conditions are not satisfied by May 28, 2021 (or such later date and time as agreed between Reabold and Corallian) ("Longstop Date"), the Offer shall automatically lapse. There is no minimum acceptance condition under the Offer and therefore Reabold may end up acquiring less than an additional 13.12% of Corallian under the Offer if there is not a full take up of the Offer. The Offer will remain open for acceptances by Corallian shareholders until May 6, 2021 (or such later time(s) and/or date(s) as Reabold and Corallian may agree to in writing but not later than the Longstop Date). Upon completion, Reabold will have maximum shareholding of 49.99% in Corallian. James Spinney, Rory Murphy and James Dance of Strand Hanson Limited acted as financial advisor for Reabold Resources. Annonce • Feb 25
Reabold Announces Confirmation of Increased Investment in Corallian Reabold announced that, further to the announcement on 22 February 2021, the Company has now been confirmed as the registered holder of £1,000,000 convertible loan notes and, as such, the transaction with Corallian has now completed. 
