Reabold has announced this morning that it has made an oil discovery in California, with pay ahead of pre drill expectations. Reabold will now test the well. We await some more detail before changing our model but note that on an unrisked basis, we estimate the Monroe Swell licence could be worth c0.8p. We reiterate our BUY recommendation.
11 Mar 2019
Update | Another success in California
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Update | Another success in California
Reabold Resources plc (RBD:LON) | 0.1 0 (-2.9%) | Mkt Cap: 8.41m
- Published:
11 Mar 2019 -
Author:
Jessica Saadat -
Pages:
3
Reabold has announced this morning that it has made an oil discovery in California, with pay ahead of pre drill expectations. Reabold will now test the well. We await some more detail before changing our model but note that on an unrisked basis, we estimate the Monroe Swell licence could be worth c0.8p. We reiterate our BUY recommendation.