Reabold Resources (LSE:RBD) said preparatory work for the recompletion, stimulation and testing of the West Newton A-2 well in East Yorkshire is expected to begin shortly.
Rathlin Energy, the operator of West Newton, has notified Reabold that authorities for expenditure have been issued covering access road works and key long-lead items required for the programme.
The total gross cost of the planned work is estimated at approximately £2.5 million. Reabold holds an economic interest in West Newton through its investment in Rathlin Energy and a direct interest in the associated licence.
The programme is intended to generate additional data on the West Newton project. Reabold said it expects the results to assist with further assessment of the field and its potential development.
Reabold raised £4.16 million through an equity placing earlier in 2026, providing funding as work on the project progresses.
Separately, a feasibility study is examining the potential for co-located power generation and data centre infrastructure using natural gas from West Newton. The study is assessing whether gas produced from the field could be used for power generation serving data centre operations. No decision to proceed with such a development was disclosed in the supplied update.
Rathlin also plans to establish a community benefit fund associated with the West Newton project.
More about Reabold Resources
Reabold Resources is a UK-based upstream oil and gas investment company with interests in gas projects in the UK and continental Europe.
Its portfolio includes West Newton in East Yorkshire, where it has exposure through interests in operator Rathlin Energy and the project licence.
The company’s strategy involves investing in undeveloped hydrocarbon discoveries and pursuing potential routes to development and monetisation, while allocating proceeds from asset sales between reinvestment and shareholder returns.
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