London-listed Reabold Resources said today that new drilling operations “further suggested” the West Newton field in east Yorkshire is the largest UK onshore oil and gas discovery since the 1970s.
Deltic Energy’s largest shareholder has backed the company’s efforts to stave off a hostile takeover bid from London-listed energy investment firm Reabold Resources.
Deltic Energy, formerly Cluff Natural Resources, has “unequivocally rejected” a £12.3million bid from Reabold Resources to acquire a controlling stake in the business.
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.