Reabold Resources PLC (AIM:RBD) co-chief executive Sachin Oza tells Proactive London that its latest deal “will allow us to facilitate the progression of the other exciting projects in our portfolio”.
Oza and fellow co-chief executive Stephen Williams talk through the agreement whereby Reabold will acquire six exploration and appraisal licences from 49.99%-owned associate Corallian Energy which has agreed to be taken over by a third party for its Victory gas field.
For a relatively small amount of capital, Williams says the deal encapsulates the final part of the Reabold business model: “to really transform the industry’s view of this project from something that had been overlooked to something we’ve been able to get to a point of monetisation”.
The pair also talk about potential plans to monetise the six North Sea licences and how other projects in the portfolio, such as West Newton, are progressing.