Reabold has conditionally agreed to acquire Humber O&G's 16.665% in PEDL 183 (West Newton oilfield) subject to OGA approval. The deal is for GBP 1.4 MM + 350,000,000 shares, bringing Reabold's interest here to ab. 56%. PEDL 183 covers 702 sq km NE of Hull in Yorkshire, and site construction is underway for the drilling of the B-1 well. Resulting partnership-to-be: Rathlin (op), partner UJO.
Reabold has conditionally agreed to acquire Humber O&G's 16.665% in PEDL 183 (West Newton oilfield) subject to OGA approval. The deal is for GBP 1.4 MM + 350,000,000 shares, bringing Reabold's interest here to ab. 56%. PEDL 183 covers 702 sq km NE of Hull in Yorkshire, and site construction is underway for the drilling of the B-1 well. Resulting partnership-to-be: Rathlin (op), partner UJO.