Reabold has announced this morning that Corallian has signed a Letter of Intent with Ensco UK for the provision of a jack-up to drill its Colter and Wick prospects. The rig will likely commence drilling in Q3/Q4. Whilst this is a small delay from prior guidance of drilling commencing in Q2, we note the wells could be transformational, and as such re-iterate our BUY recommendation.
15 May 2018
Enters into rig agreement
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Enters into rig agreement
Reabold Resources plc (RBD:LON) | 0.1 0 6.5% | Mkt Cap: 8.41m
- Published:
15 May 2018 -
Author:
Jessica Saadat -
Pages:
3
Reabold has announced this morning that Corallian has signed a Letter of Intent with Ensco UK for the provision of a jack-up to drill its Colter and Wick prospects. The rig will likely commence drilling in Q3/Q4. Whilst this is a small delay from prior guidance of drilling commencing in Q2, we note the wells could be transformational, and as such re-iterate our BUY recommendation.