Corallian Energy has added another 10million barrels of oil equivalent to its North Sea portfolio thanks to a new deal.
A new onshore gas discovery is "potentially the UK's largest", according to preliminary data.
Partners in the Wick prospect in the Moray Firth said today that the exploration well was a failure.
A rig is on its way to the Moray Firth to drill Corallian Energy's Wick exploration well.
Upstream oil sector investor Reabold Resources has completed its £3 million acquisition of 37% of Rathlin Energy UK.
At a time when the UK North Sea is crying out for new exploration, investment firm Reabold Resources believes it has found a fresh approach that can get drill bits spinning again.
Reabold Resources has snapped up Gaelic Resources, paving the way for it to get involved in Californian oil and gas leases.
Reabold Resources has invested a further £1 million in Corallian Energy, the operator of the Wick prospect in the outer Moray Firth.