TSX runs higher on rate cut expectations
LONDON - Reabold (LON:RBDR) Resources plc, an investment company focusing on European gas projects, announced today the appointment of Mr. Paul Harris as an independent non-executive director to the board of Rathlin Energy (UK) Limited. Mr. Harris brings over three decades of experience in the energy sector to Rathlin, which operates the West Newton gas development project.
With a background that includes leadership roles at NEO Energy and Nexen Petroleum USA, Mr. Harris is recognized for his expertise in engineering, regulatory compliance, and project management within the oil and gas industry. During his tenure at NEO Energy, he contributed to the company’s growth as the 5th largest UK producer and served on the board of Offshore Energies UK.
Rathlin Energy, holding a 66.67% interest in the PEDL 183 Licence, is the operator of the West Newton project, the largest undeveloped onshore gas field in the UK. Reabold’s economic interest in the project, through its shareholding in Rathlin and direct license interest, amounts to approximately 69.9%.
The appointment of Mr. Harris is expected to bolster Rathlin’s strategic development as the company advances West Newton towards production. The project’s significance has been emphasized in the context of securing the UK’s domestic energy supply, with its pre-tax net present value estimated at US$224 million to Reabold following recent transactions.
Co-CEO of Reabold, Stephen Williams, expressed confidence in Mr. Harris’s ability to drive the project forward, citing his strategic leadership and comprehensive understanding of the UK’s oil and gas environment. Mr. Harris also commented on the importance of domestic gas production for the UK’s energy security and economy.
This news is based on a press release statement issued by Reabold Resources plc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.