RBD Reabold Resources Plc

30 January 2025

Reabold Resources plc

("Reabold" or the "Company")

LNEnergy Option Extension

Reabold Resources plc, the investing company focussed on developing strategic gas projects for European energy security, is pleased to announce that, further to the previous announcement of 24 October 2024 regarding its investments into LNEnergy Limited ("LNEnergy"), the option period associated with LNEnergy's acquisition of an additional interest in the Colle Santo gas project has been extended by an additional two months. 

LNEnergy is the manager and owner of a 20% interest in LNEnergy S.R.L. ("LNEnergy SRL"), the Italian company which has applied for the Colle Santo gas field concession (with a 90% interest), and has an option to acquire the remaining 80% interest in LNEnergy SRL on or before 1 April 2025 (the "Option"), with an exercise price of US$11 million.

The Colle Santo gas field is a highly material gas resource with an estimated 65Bcf of 2P reserves¹, with two production wells already drilled and flow-tested, making the field development ready. LNEnergy believes that the field has the potential to generate an estimated €11-12m of gross post-tax free cash flow per annum.

¹ RPS estimate, September 2022

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Notes to Editors

Reabold Resources plc has a diversified portfolio of exploration, appraisal and development oil & gas projects. Reabold's strategy is to invest in low-risk, near-term projects which it considers to have significant valuation uplift potential, with a clear monetisation plan, where receipt of such proceeds will be returned to shareholders and re-invested into further growth projects. This strategy is illustrated by the recent sale of the undeveloped Victory gas field to Shell, the proceeds of which are being returned to shareholders and re-invested.