Reabold Resources (RBD) confirmed the placing results late yesterday afternoon. Due to demand received during the bookbuild, RBD decided to increase the placing from 1,222,000,000 shares to 1,305,083,333 shares, an increase of 7%. The shares have been placed with new and existing shareholders of the company at a price of 0.6 pence per share to raise approximately £7.83 million.
Today's RBD announcement confirmed an increased investment in Corallian and its Colter and Wick prospects, with drilling of Colter on track for the first half of 2018. The company believes that this is the ideal time to deploy capital in line with its strategy and looks forward to an exciting year with multiple transformational drilling events. With the placing out of the way, it's onwards and upwards now for RBD.
Jersey Oil & Gas (JOG) announced that a rig contract has been signed for the drilling of the Verbier appraisal programme in Summer 2018. However, the drilling programme is not the only exciting aspect of JOG. Many appear to have overlooked that the Company plans to build a production portfolio via acquisitions coinciding with the cyclical recovery in the oil price and the current opportune buying market in the North Sea. JOG is involved in multiple sales processes and completing any one, or a combination of, these deals could result in similar immediate 200% - 300% gains such as those recently seen in Serica Energy (SQZ) and Rockrose Energy (RRE). One to keep an eye on.
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The author holds one or more investments in one or more of the companies mentioned so this post cannot be viewed as independent research. This post does not constitute investment advice or a recommendation to buy or sell and may be incorrect or outdated.