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Reabold Resources offers to up Corallian Energy stake to just under 50%
StockMarketWire.com
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Oil company Reabold Resources said it had offered to acquire another 13.12% of Corallian Energy in exchange for Reabold shares.
The exchange wold take place at a a ratio of 474 Reabold shares for each Corallian share and potentially increase Reabold's stake in Corallian to 49.99%.
Reabold said the offer would up its interest in the 'low-risk, high potential' Victory gas discovery.
At 9:24am: (LON:RBD) Reabold Resources Plc share price was 0p at 0.58p
Story provided by StockMarketWire.com
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