StockMarketWire.com - Oil and gas company Reabold Resources said it was gauging interest from investors for a potential equity raising of between £20m and £24m.

The funds would be used, in part, to 'meaningfully' increase Reabold's interest in Rathlin Energy, to fund and accelerate a two-well work programme at the West Newton project in Yorkshire.

They would also be used to exercise an existing option in Danube Petroleum, providing required funding for the IM-2 well in Romania.

The bookbuild, being conducted by Stifel Nicolaus Europe, was expected to open at 4.45pm on Tuesday 8 October.

Reabold announced the plan while noting recent press speculation relating to a potential equity placing. At 1:27pm: [LON:RBD] Reabold Resources Plc share price was -0.08p at 1.03p



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