Danube - Parta Licence Update
Summary by AI BETAClose X
24 October 2025
Reabold Resources plc
("Reabold" or the "Company")
Danube - Parta Licence Update
Reabold Resources plc, the investing company focussed on developing strategic gas projects for European energy security, notes the announcement today by ADX Energy Ltd ("ADX") regarding the Parta exploration licence ("Parta") in Romania, in which Reabold has an indirect interest through its 50.8% shareholding in Danube Petroleum Limited ("Danube"). ADX holds the remaining 49.2% shareholding in Danube via its wholly owned subsidiary ADX Energy Panonia SRL ("Panonia"), and is the operator of Parta.
Panonia has been unable to perform the work plan in Parta due to regulatory constraints, delays and operational access restrictions. ADX was reluctant to enter into exploration phase 2, with additional significant commitments, due to the inability to perform the phase 1 program despite its reasonable efforts. As a result ADX has been in discussions with the Romanian Regulatory Authorities regarding an extension of the Parta licence. Despite repeated requests, the Regulatory Authority has advised that the exploration phase 1 of the licence has expired. Additionally, the Regulatory Authority has issued Panonia with invoices totalling EUR 4.2 million relating to alleged expenditures relating to the unperformed exploration commitments applicable to Parta.
ADX, on behalf of Panonia, will formally dispute these invoices on the basis of having incurred significant costs to address the unforeseen challenges attributable to the work program, as well as due to the regulatory delays and access restrictions which have prevented Panonia from entirely fulfilling the work program, and denied Panonia the ability to benefit from the potential upside from making a discovery.
Further details can be found in the ADX Energy Ltd ASX release published on 24 October 2025 - https://investors.adx-energy.com/announcements/7225646.
For further information, contact:
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Reabold Resources plc Sachin Oza Stephen Williams
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c/o Camarco +44 (0) 20 3757 4980
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Cavendish - Nominated & Financial Adviser and Broker Neil McDonald Pearl Kellie
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+44 (0) 20 7220 0500
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Camarco Billy Clegg Rebecca Waterworth Sam Morris
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+44 (0) 20 3757 4980
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This announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.
Notes to Editors
Reabold Resources plc has a diversified portfolio of exploration, appraisal and development oil & gas projects. Reabold's strategy is to invest in low-risk, near-term projects which it considers to have significant valuation uplift potential, with a clear monetisation plan, where receipt of such proceeds will be returned to shareholders and re-invested into further growth projects. This strategy is illustrated by the recent sale of the undeveloped Victory gas field to Shell, the proceeds of which are being returned to shareholders and re-invested.
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