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CEO: Regency Mines’ switching focus to oil to add shareholder value

Andrew Bell, chief executive of Regency Mines Plc (LON:RGM) tells Proactive Investors the company is focusing on its oil and gas assets to help drive shareholder value.

The firm has previously been principally focused on base metal assets, in particular nickel, and Bell notes the firm will “sit on that” until the price picks up.

Meanwhile, he says “we should be looking at other ways to add shareholder value, and when we looked at these ways we saw the opportunity – with the oil price going down to US$27 a barrel at the beginning of this year – to invest in oil and gas, particularly producing onshore oil and gas or near-producing, very quickly”.

New funds have been focused on its three main oil and gas interests: its stakes in the Horse Hill venture in Southern England, Westport Energy Plc which is investing in North America’s Pacific Northwest, and an oil project in the western United States

Quick facts: Regency Mines PLC

Price: 0.0375 GBX

LSE:RGM
Market: LSE
Market Cap: £568.84 k
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Regency Mines putting foundations in place for 'development and value'

Regency Mines PLC's (LON:RGM) Scott Kaintz and Ewen Ainsworth join Proactive's Andrew Scott in the London studio to discuss the recent refinancing of the firm's debt facility as well as the findings of the strategic review. Regency's refinanced US$1.254mln worth of loan notes through to July...

on 1/8/19

2 min read