- Reabold Resources said a second well would be drilled at onshore Californian assets being developed together with contract operator Integrity Management Solutions.

The new well was planned for the West Brentwood licence area before the end of the year, with the aim of accelerating production, the company said.

The first well, Venturini Ginnochio 3, had now been put into production after it delivered a test rate of 200 barrels of oil and 60k standard cubic feet of gas per day.

As a result of decided to proceed with the West Brentwood well, Reabold said it had decided to defer the drilling of a well on Grizzly Island until 2019.

At 8:20am: [LON:RBD] Reabold Resources Plc share price was +0.03p at 0.75p

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