Reabold Resources plc
Reabold Resources Plc is an AIM-listed investing company that builds disciplined, diversified positions in pre-cash-flow upstream European gas assets, principally a controlling 79.8% stake in Rathlin Energy (UK), which holds PEDL183/West Newton onshore England, and a 47.6% associate stake in LNEnergy, which holds the Colle Santo gas field in Italy. It also holds minority interests in Danube Petroleum (Romania), Daybreak Oil & Gas (USA, financial asset) and a 10% non-operated North Sea licence, and in 2025 launched KryptoByte Ltd to explore converting stranded well-site gas into power for Bitcoin mining and data centres.
FY2025 in sixty seconds
year to 31 Dec 2025 · approved 29 Jun 2026 · 83 pages · Companies House
Reabold Resources Plc invests in early-stage European gas projects, chiefly the West Newton field in onshore England. It had no revenue in 2025 or 2024, as none of its projects is producing yet. Its loss after tax widened to £7.8m, from £3.4m the year before. The main reason was a one-off write-down of £4.015m on its stake in Danube Petroleum in Romania, where regulatory problems have stalled work. Running costs also rose from £2.0m to £2.7m after Reabold took control of Rathlin Energy, which holds West Newton.
Cash fell to £2.1m at the year end, from £6.2m, and the group has no borrowings beyond small lease costs. It paid no dividend. In April 2026, after the year end, it raised £4.2m from shareholders to fund work on a West Newton well.
Management called 2025 a year of significant progress and strategic change and said the group is well positioned for 2026. The auditor accepted the accounts but flagged real doubt over whether the company can keep going: the planned well work would significantly reduce cash, and more funding would likely be needed.
Group is pre-production and generated no revenue in 2025 or 2024; value creation is via asset monetisation/farm-downs rather than sales
Consolidated Statement of Income has no revenue line; Rathlin's summarised 2025 financial information shows 'Revenue from contracts with customers: -'
page 41Consolidation of Rathlin into the Group from Feb 2025 added ~£0.7m to administration expenses, taking Group admin costs from £2.0m (2024) to £2.7m (2025)
Administrative expenses for the year were up from £2.0 million in 2024 to £2.7 million in 2025... Rathlin contributed approximately £0.7 million to the £2.7 million Group administrative expenses
page 112025 was a year of significant progress and strategic transformation; Reabold is evolving from a traditional upstream investment company into a hybrid energy-investment and energy-to-compute technology play
page 4No dividend was paid in 2025 (2024: £Nil) and the Directors do not propose a final dividend; no stated formal dividend policy, though capital management notes shareholder distributions (dividends + buybacks) are considered against cumulative surplus cash flow
page 2511 years on one page · FY2015–FY2025
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GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
Nothing restated
Every figure is read again from the following year’s report: 259 confirmed, 23 differ.
No figure has been restated: every figure a later report printed again, it printed the same.