Gulf Oil and Gas accountACCOUNT

Reabold Resources Announces Exercise of Danube Petroleum Option

Source: www.gulfoilandgas.com 12/3/2018, Location: Europe

Reabold, the oil and gas investing company, has exercised options to subscribe for 375,940 fully paid ordinary shares in the capital of Danube Petroleum Limited at a price of £1 per share, pursuant to the subscription agreement dated 1 December 2017. Accordingly, Reabold has paid £375,940 to Danube, satisfied from the Company's existing cash balances, thereby increasing Reabold's interest in Danube to 33 per cent., from 29 per cent, with ASX-listed, ADX Energy Ltd, holding the remaining 67 per cent. This additional funding will be utilised by Danube for the drilling of the Parta Appraisal Wells in the first quarter of 2019.

As previously announced on 24 September 2018, pursuant to the Subscription Agreement, Reabold completed Tranche 2 funding of £1,127,819 (of an aggregate investment of £1,503,759) to provide funding for the first appraisal well.

Under the terms of the Subscription Agreement, ADX is committed to either invest directly in Danube or source investment from a third party for £375,940 on the same terms as Reabold's investments. The timing of this investment by ADX is being discussed by the parties in conjunction with potential other funding options by both parties for the drilling of a further Parta Appraisal well.

Financials and Investment News in United Kingdom >>

Congo >>  7/17/2019 - Anglo African Oil & Gas plc, an independent oil and gas developer, is pleased to announce that it has completed a fundraising (the "Fundraising") for ...
Malaysia >>  7/10/2019 - Murphy Oil Corporation (MUR) (Murphy) announced its subsidiary closed the sale to divest the fully issued share capital of the entities primarily cond...

United Kingdom >>  7/10/2019 - Total has signed an agreement to divest several UK non-core assets to Petrogas NEO UK Ltd, the exploration and production arm of the Oman-based conglo...
Nigeria >>  7/7/2019 - Nigerian President Muhammadu Buhari has signed up to the $3 trillion Africa free trade agreement. As the largest economy on the continent, Nigeria’s d...

United Kingdom >>  7/2/2019 - Reabold, the AIM investing company which focusses on investments in pre-cash flow upstream oil and gas projects, is pleased to announce that is has ra...
Egypt >>  6/29/2019 - Dana Gas PJSC has received payments of $48 million (AED 177 million) from its operations in Egypt in June. These collections comprise $38 million in p...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United Kingdom Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.