Reabold Resources PLC (AIM:RBD) co-CEOs Sachin Oza and Stephen Williams visit Proactive's London studio to speak with Thomas Warner about their decision to invest in LNEnergy.
LNEnergy's primary asset is an exclusive option over a 90% interest in the onshore Colle Santo gas field in Abruzzo, Italy.
The co-CEOs reveal that they had previously rejected the idea of getting involved in Colle Santo because the development plan in place at the time was unlikely to be acceptable to Italian regulators.
They believe changes to the development plan as well as changes to the political and environmental outlook mean that the project now stands a much higher chance of moving forward.
Oza says that Colle Santo "is a ready-to-go kind of project" that Reabold is "delighted to get involved with" and Williams highlights growing demand for LNG in Italy as a transitional source of energy.