StockMarketWire.com - Oil and gas company Reabold Resources said it had completed its second tranche investment in Danube Petroleum.

Following the completion by ADX Energy of its second tranche investment, which was expected to occur imminently, Reabold would hold 41.6% of Danube's issued share capital.

Danube had a 100% working interest in the sole risk area within the Parta licence that includes IM-1, as well as 50% of the remainder of the Parta licence.

ADX was the operator of the licence and the proceeds from Reabold and ADX's respective subscriptions were intended to be utilised by Danube in the production testing of the IM-1 well.


At 8:38am: [LON:RBD] Reabold Resources Plc share price was 0p at 1.08p



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