Reabold Resources PLC (AIM:RBD) has built a significant stake in LNEnergy, diversifying and adding another large European "development-ready" gas asset to its portfolio – Colle Santo, onshore Italy - said house broker Cavendish.
“Full development of this resource is envisaged via a leased micro-LNG project, minimising upfront capex and the development’s environmental footprint; an approach that has already received tacit support from the government.
“Before that, a two-year early production programme is planned, converting gas to power for the grid and allowing early revenue generation.”
Cavendish’s target share price is 1.2p.