- Reabold Resources said a rig had been mobilised for Corallian Energy's two-well offshore UK drilling campaign.

Reabold holds an interest in both the Wick and Colter prospects through its 32.9% equity interest in Corallian.

The ENSCO-72 jack-up rig had been mobilised from Hartlepool to drill the Wick exploration well.

It would test a high relief sub-surface structure which Corallian, the operator of the licence, estimates to contain mean prospective resources of 26m barrels of oil equivalent.

'This is an exciting time for Reabold shareholders with a high impact drilling campaign commencing across our North Sea and South of England projects,' chief executive Stephen Williams said.

At 1:28pm: [LON:RBD] Reabold Resources Plc share price was -0.03p at 0.63p

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