WTI (May) $97.87 +$3.46, Brent (June) $95.92 +$1.17, Diff +*$1.95 -$2.29
USNG (May) $2.67 -5c, UKNG (May) 112.17p -1.93p, TTF (May) €45.175 -€0.64
*Denotes WTI back to premium over Brent

Oil price

Oil hasn’t moved much this morning ahead of the peace talks in Pakistan tomorrow, there appears to be a wide rift between the two sides with the Strait of Hormuz effectively shut and no respite in Lebanon…

And pressure from nearby countries will remain after the Saudis suffered a drone strike on a pumping station on the Red Sea pipeline that may take 700/- barrels offline. 

And on a different note there are elections in Hungary at the weekend, will Viktor Orban hang on…?

Reabold Resources

Further to the Company’s announcement on 1 April 2026, Reabold has announced that it has completed a conditional subscription to raise minimum gross proceeds of £686,800 by way of a subscription for 686,800,000 new ordinary shares of 0.1 pence each in the Company at 0.1 pence per share. The Subscription includes £282,000 from certain Directors and persons closely associated with them, as detailed below. Investors in the Subscription will also receive Warrants on the same terms as the Placing and Strategic Investment.

Capitalised terms used in this announcement have the meanings given to them in the Launch Announcement, unless the context provides otherwise. 

In addition, the Company is in advanced discussions with other investors that have indicated their intention to also subscribe for new Ordinary Shares after the date of this announcement to raise additional gross proceeds of up to a maximum of £260,000. This amount includes a proposed further investment of £75,000 by Sachin Oza, Co-CEO of Reabold, following the expected liquidation of certain non-cash assets that could not be liquidated in time to participate further in the Subscription. Further announcements will follow in due course. 

The Company has therefore conditionally raised minimum gross proceeds of approximately £4.1 million through the Subscription, the Placing and the Strategic Investment.

On completion of the Fundraise, the shareholdings in the Company of the participating directors and their PCAs will be as follows;

Proposed Consolidation

Following the Fundraising, the Company intends to consolidate its existing Ordinary Shares in order to reduce the total number of Ordinary Shares in issue, with each 1,000 existing Ordinary Shares held by a Shareholder to be consolidated (the “Consolidation”) into one new Ordinary Share of £1.00 (the “Consolidated Shares”). While the number of Ordinary Shares in issue will change pursuant to the Consolidation, the proportion of the Company’s issued ordinary share capital held by each Shareholder immediately before and after the Consolidation will remain unchanged (subject to the treatment of Fractional Entitlements, which is described in the Circular).

As a result of the Consolidation:

• the nominal value of Ordinary Shares will change;
• the number of Ordinary Shares held by each Shareholder will reduce by a factor of 1,000;
• the market value of an Ordinary Share should increase by a factor of 1,000 (although the price of Ordinary Shares will continue to fluctuate);
• the overall value of each Shareholder’s existing holding of Ordinary Shares should remain approximately the same (although the value of an investment in Ordinary Shares will continue to fluctuate);
• the exercise price of each Warrant will increase by a factor of 1,000; and
• the number of Warrants held by each Warrant holder will reduce by a factor of 1,000.

In connection with the proposed Consolidation, the Company will adopt new articles of association (the “New Articles”) to reflect the revised nominal value of the Consolidated Shares following the Consolidation. The New Articles will be substantially the same as the existing articles of association, save for amendments necessary to reflect the change in the nominal value of the Ordinary Shares arising from the Consolidation. 

Following the Consolidation a new ISIN will be allocated to the Ordinary Shares and announced in due course. The Company’s TIDM is unchanged (RBD.L).

Posting of Circular and Notice of General Meeting

The Fundraising and the Consolidation (including the adoption of the New Articles) are conditional, inter alia, upon the approval of Shareholders at a General Meeting which will be held at 10:30 a.m. on 27 April 2026 at the offices of Hill Dickinson LLP, The Broadgate Tower, 20 Primrose Street, London EC2A 2EW (the “General Meeting”).

The Company confirms that it has today posted a Circular (containing a Notice of General Meeting) and form of proxy to Shareholders regarding the proposed Fundraising, Consolidation and the adoption of the New Articles.

The Circular will be available on the Company’s website: www.reabold.com.

Timetable

The expected timetable of principal events is set out below:

Nothing to add here, confirmation of the situation re the recent raise with all the details and technicals for General Meeting.

Sunda Energy

Sunda has confirmed, further to the announcement made at 7.20 a.m. on 8 April 2026, the result of its WRAP Retail Offer.

The Company announces that it has raised aggregate gross proceeds of approximately £404,780 pursuant to the WRAP Retail Offer. Accordingly, the Company will issue a total of 13,606,029 WRAP Retail Offer Shares at the Issue Price and 6,802,977 Warrants pursuant to the WRAP Retail Offer.

The WRAP Retail Offer is conditional on the passing of certain resolutions to be put to shareholders of the Company at a General Meeting, which is expected to be held on 29 April 2026 and the WRAP Retail Offer Shares being admitted to trading on AIM (“Admission”), further details of which are set out in the Acquisition Announcement. It is anticipated that Admission will become effective and that dealings in the WRAP Retail Offer Shares will commence on AIM, at 8.00 a.m. on 30 April 2026.

The grant of the Warrants is also conditional on the passing of certain resolutions at the General Meeting.

The WRAP Retail Offer Shares will be issued free of all liens, charges and encumbrances and will, on Admission, rank pari passu in all respects with the New Ordinary Shares to be issued pursuant to the Fundraising.

The raise with all its facets completes with the WRAP Retail Offer which raised £404,780 but I don’t see the word oversubscribed in the announcement but nevertheless I suspect that the New Zealand acquisition is going ahead as planned. 

More on all this if the company touch base on the deal, the funding etc…..

Original article   l   KeyFacts Energy Industry Directory: Malcy's Blog