Sachin Oza, Co-CEO of Reabold, commented:
“The fact that Corallian has been awarded 22 new blocks and part blocks out of a total of just 144 demonstrates the significant capability and experience of its management team in identifying opportunities. In particular, the award of blocks around the Colter discovery is a highly important step for Corallian in realising further potential in the area and ultimately generating value for Reabold shareholders.”
Reabold Resources PLC (LON:RBD), the investor in pre-cash flow upstream oil and gas projects, announced today that Corallian Energy Limited, in which the Company owns a 32.9 per cent. interest, has been offered five new licences by the Oil and Gas Authority as part of the UK 31st Offshore Licensing Round.
Three of these new licences have been awarded with joint venture partners, while the other two have been offered on a 100 per cent. interest basis.
The five licences comprise 22 blocks and part blocks, including one in the English Channel (49 per cent. interest), two in the Inner Moray Firth (40 per cent. interest each), one in the Viking Graben (100 per cent. interest) and one in the West of Shetland basin (100 per cent. interest).
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.