Reabold Reasources (LON:RBD) today announced the access road at Monroe Swell has dried out after a prolonged period of severe weather conditions. Drilling equipment was delivered to the well pad throughout last week and the Burnett 2A well was spud on 2 March 2019.
This is the first of two wells at Monroe Swell that will be funded by Reabold in order for the Company to earn a 50% working interest in the acreage. The well is being operated by Integrity Management Solutions.
Sachin Oza, Co-CEO of Reabold, commented:
“We are delighted that improved weather has now allowed us to commence drilling at Monroe Swell and pursue the significant potential resource at that field. In the meantime, we continue to be impressed by the performance at West Brentwood, and we are actively considering the potential for additional wells to further accelerate the already impressive cashflow.”