In today’s podcast ValueTheMarkets talks with Sachin Oza and Stephen Williams, co-Chief Executive Officers of Reabold Resources (LSE:RBD). Reabold is an investor in opportunities in the oil and gas sector, in particular focusing on projects with near-term activity, and currently holds interests in the UK, USA and Romania. Sachin and Stephen discuss their backgrounds in equity investment and asset management, the benefits of being a non-operating player in the sector, and the criteria they look for in a potential investment opportunity.
Reabold holds a 32.9% interest in Corallian Energy, which in turn has a 49% interest in the high-impact Colter appraisal opportunity. Oil and gas shows were encountered at Colter South after the well well unexpectedly remained on the southern side of the Prospect bounding fault. A further side-track to test the principal Colter target is planned.
Today, Reabold gave an update regarding operations at West Brentwood where the VG-4 well has been put onto production. A significant volume of gas is being produced which has meant the well cannot be run at its full rate unril a tie-in to a nearby gas pipeline has been completed. The well is currently producing around 150-250 barrels of oil per day (bopd) on a gross basis but the company expects the production rate to increase significantly once the gas constraint has been removed.
It’s been a very busy period of activity for Reabold with a number of drills in the USA in recent months too. In California, a second oil discovery was announced earlier this month from the Burnett 2B well at Monroe Swell. This followed the successful drilling of the Burnet 2A well earlier this year.
All opinions expressed are those of ValueTheMarkets and the respective guests unless otherwise stated and should not be construed as investment advice or a recommendation to buy shares in any featured Company. Listeners are advised to do their own extensive research before buying shares which, as with all small-cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of a qualified investment adviser or stockbroker as they deem appropriate.
