This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Investor Q&A
We’ve answered some of the most common investor questions.
-
Shareholders can submit questions to management through the ‘Contact Us’ page on the website, or alternatively through emailing reaboldenquiries@camarco.co.uk.
-
At West Newton, drilling and testing of the development well will take place in 2024 and the funding plan for drilling will be put in place in H1 2024.
At Colle Santo, LNEnergy is engaging with regulators to gain approval for early production ahead of gaining the full concession award to develop this important European onshore gas asset.
-
Both West Newton and Colle Santo are highly material, undeveloped gas discoveries in Europe that could begin production as early as 2025.
As with all Reabold’s investments, both assets have low geological risk and clear exit opportunities.
-
Reabold’s focus is on its two key gas assets; West Newton (UK onshore) and Colle Santo (Italy onshore). Both assets have strong parallels with Victory, an offshore asset in the UK North Sea which the company identified, matured and sold to Shell for £32m in December 2022.
We are responding to the increased focus on energy security brought about by the rise in geopolitical conflict and instability in Europe, and globally. Concern about energy shortages and vulnerability to geopolitical events has prompted many governments to prioritise access to more domestically produced energy and reduce their dependency on imported gas. Reabold aims to contribute to Europe’s energy security by unlocking potential sources of near-term domestic gas supply, at a time when the continent is exposed to potentially significant gas supply disruptions.
-
Yes. RPS Energy released a CPR on Colle Santo in September 2022, confirming 65.3Bcf of gross 2P reserves.
You can view the CPR here: https://wp-reabold-2023.s3.eu-west-2.amazonaws.com/media/2023/09/4.1.-Colle-Santo-RPS-CPR-October-2022.pdf
-
Reabold has undertaken significant due diligence work resulting in increased confidence in the likelihood of permits being granted for the Colle Santo field development. This is at a time when there is an increased focus on energy security in Italy and a more favourable regulatory environment.
The Environmental Impact Study (“EIS”) for the new small-scale LNG development plan at the Colle Santo gas field was filed with the Ministry of Environment and Energy Security and the link to this submission can be found at https://va.mite.gov.it/it-IT/Oggetti/Info/10561
-
First production under the early development plan is expected in 2024, with first production from the LNG project expected in 2025.
-
Management is not wedded to any asset. The Board maintains an active approach to asset portfolio management, and will monetise or partially monetise any asset if it enhances shareholder value. The Board will continue to consider the return on capital, cash generation potential, costs, growth and strategic fit of each asset in the current portfolio. The Board’s overriding focus is, and will remain, generating value for shareholders.
-
Reabold is fully funded for its share of the next West Newton well.
Reabold does not have any funding responsibilities via Rathlin, however it is possible that Reabold will form a part of future Rathlin funding as it relates to the next West Newton well and beyond. Rathlin is working on securing final funding for the next well alongside securing final permits.
-
Reabold is targeting a start to drilling operations in 2024 with operations taking place throughout the year.
-
The NPV10 value represents the theoretical and unrisked value of a project to a company that is sufficiently resourced both financially and operationally to take the project through development, production and to the end of field life. We will evaluate the optimum point at which to dispose of a project not only on the realisable value at the point of sale, but also how effectively we can redeploy that capital into new and existing projects to maximise returns for shareholders.
-
Reabold does not currently pay a regular dividend to shareholders. The Reabold strategy results in significant monetisation events such as asset sales and the Board intends to replicate its success with the sale of Corallian and create further monetisation events to generate considerable further distributions in the future.
-
Our current focus is on progressing our core assets, West Newton and Colle Santo. However, we are constantly evaluating new investment opportunities where we see the prospect of near-term, high-impact activity which can deliver a return for our shareholders. The Board maintains an active approach to asset portfolio management, taking into account the return on capital, cash generation potential, costs, growth and strategic fit of each asset in the current portfolio.