Reabold’s strategy is to invest in existing undeveloped gas discoveries with significant resources and near-term production potential, which have considerable valuation uplift potential and a clear monetisation plan.

Reabold identified, matured and sold the Victory offshore UK gas project to Shell for £32m
Reabold’s focus is on its two key gas assets that have strong parallels with Victory: West Newton (UK onshore) and Colle Santo (Italy onshore)
Both West Newton and Colle Santo are highly material, undeveloped gas discoveries in Europe that could begin production as early as 2025

Proven business model

The sale of Corallian and its Victory licence to Shell for a total of £32 million proves the Reabold business model. Reabold’s £12.7 million share of net proceeds was a significant uplift on Reabold’s investment of £7.5 million.

Valuable, diverse portfolio of assets, including:

KEY PROJECTS

UK Onshore – 56% of West Newton

Potentially one of the largest onshore oil and gas projects in the UK
Gross 2C unrisked technically recoverable resource of 197.6 bcf of sales gas
86% geological chance of success
Implies NPV10 of US$222 million for Reabold’s interest

Italy – LNEnergy

29.2% equity interest in LNEnergy which holds an exclusive option over a 90% interest in the onshore Colle Santo gas field in Abruzzo, Italy

BROADER PORTFOLIO

UK Offshore – North Sea Licences

4 licences with low geological risk and near to infrastructure

California

42% ownership of Daybreak Oil & Gas

Romania

50.8% of Danube which holds a 100% interest in the Parta licence

Multiple near-term value catalysts in the portfolio, including:

LNEnergy: engaging with regulators to gain approval for early production
LNEnergy: engaging with regulators to gain full concession award
West Newton: New phased development programme