Reabold Resources announce conditional sale of Corallian to oil and gas major for £32mln

Reabold Resources Plc (LON:RBD) co-chief executives Stephen Williams and Sachin Oza join Proactive to talk an important new asset deal – which effectively sees the sale of the Victory project to a currently undisclosed “major” oil and gas firm.

The divestment sets up Victory to becoming a new producing field for the UK, boosting domestic energy security. For Reabold, significantly, it releases over £12mln of proceeds to drive progress into a newly enlarged UK asset portfolio – in which Williams and Oza intend to follow the blueprint and repeat the successes of Victory.

Oza says this transaction shows “you can generate really strong returns”, and adds that those returns can be recycled into a “very rich portfolio”.

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