Reabold Resources Plc (LON: RBD) has informed about the commencement of West Newton Drilling operations.
- The company’s drilling operations started for the B-1 well at West Newton, which will assess the extent of the West Newton A-2 discovery as well as test the deeper Cadeby formation.
- As per the company’s information, the conductor drilling rig has been successfully mobilised to the B-1 site and is starting operations, with a key drilling rig following shortly to assess the Kirkham Abbey formation and test the Cadeby formation.
- A depth of around 80 metres into the Cretaceous chalk will be drilled by the conductor rig where steel casing will be installed and cemented to surface.
- On 18 August 2020, at the time of writing, GMT 09:30 AM, RBD shares were trading at GBX 0.79, up by 0.02 points or 2.61% against the previous day closing price.