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Reabold Resources PLC - London-based oil and gas company with projects in the UK, the US and Romania - Notes that Corallian Energy Ltd remains in negotiations for a potential takeover by an unnamed purchaser.
In May, Reabold said that Corallian, in which Reabold owns 50%, had received a non-binding conditional takeover offer for entire share capital. Corallian board had deemed offer attractive and is pursuing sale.
In addition, Reabold is looking to acquire Corallian's portfolio of six exploration and appraisal licenses for £250,000, excluding the Victory license.
Current stock price: 0.35 pence
12-month change: up 35%
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