AIM- listed Reabold Resources, the investing company focussed on developing strategic gas projects for European energy security, announces its unaudited interim results for the six months ended 30 June 2025.
Highlights
LNEnergy - Colle Santo gas field, Italy
- LNEnergy Limited ('LNEnergy') acquired the entire outstanding issued share capital of LNEnergy S.r.l. LNEnergy S.r.l is the Italian company that has a 90% interest in the Colle Santo gas field in the Abruzzo region of Italy, a highly material gas resource with an estimated 65Bcf of 2P reserves(1).
- Post period end, LNEnergy's Small Scale-LNG development plan in Colle Santo, Italy, was granted a positive opinion by the Independent Environmental Impact Assessment ("EIA") Commission of the Italian Ministry for the Environment and Energy Security - a significant milestone towards the final EIA Ministerial Decree and the award of the Natural Gas Production Concession.
- In July 2025, Reabold increased its interest in LNEnergy to 46.2%.
Rathlin Energy (UK) Limited ("Rathlin") and West Newton - PEDL 183
- Reabold increased its interest in West Newton via the acquisition of 20.4% of the shares in Rathlin from Connaught Oil & Gas Limited for a total cash consideration of £700,000. Reabold's total shareholding in Rathlin now stands at 79.8%, and its economic interest in West Newton stands at 69.9%.
- Post period end, Reabold announced the potential use of gas produced from the existing wells at West Newton to generate on-site electricity and power crypto mining activities, and that it had entered into a non-binding LOI with 360 Energy, Inc. to scope and design a potential bitcoin mining solution at West Newton, subject to regulatory and third-party approvals.
- Paul Harris, former CEO of NEO Energy, was appointed to the Board of Rathlin.
(1) RPS estimate, September 2022
Sachin Oza and Stephen Williams, Co-CEOs of Reabold, commented:
'We are pleased to report on a period of strong progress for Reabold as we delivered a number of exciting developments across the portfolio.
Having further increased our economic interest in the West Newton licence to 69.9%, we welcomed the strategic appointment of Paul Harris, an international oil and gas leader with a proven track record in progressing UK hydrocarbon projects, to the Board of Rathlin and we believe he will be invaluable in advancing development. Post period end, we have been exploring options to monetise gas from West Newton through on-site electricity generation to power crypto mining, which offers an additional element of early value creation from the West Newton field.
In Italy, the positive opinion from the EIA Commission for the Colle Santo Small Scale-LNG development marks a major milestone for the nationally significant project and we remain confident that we can unlock this highly material gas resource as we work toward the final Production Concession.
We look forward to continuing this strong momentum into the second half of the year, with the Company well positioned to deliver on its strategy and create long-term value for shareholders.'
Source: Reabold Resources
