DrillOrDrop’s round-up of announcements from three companies with UK onshore oil and gas interests: investor raises stake, director resigns and refinancing continues.

Reabold Resources – Crypto Cousins raises stake

Reabold Resources, the majority owner of the West Newton oil and gas field in East Yorkshire, announced this morning that a US investment company had increased its interest.

Rohan Oza, through Crypto Cousins, LLC, raised his investment in Reabold from 5.6% to 14.309% of voting rights.

A statement from Reabold said the share-owning threshold was crossed on 8 May 2026 and completed today (4 June 2026).

In March 2026, the company announced that Rohan Oza’s investment group had committed to buy 1,900 million ordinary shares.

Reabold said the funds raised from that share placing would be “used primarily to progress” the West Newton project. The operator, Rathlin Energy, has planning permission for lower-volume fracking on the West Newton A-2 well.

Reabold revealed last year that the West Newton sites, currently mothballed, could be used for bitcoin mining. It unveiled plans to use gas from the wells to generate electricity.

Reabold has also announced (3 June 2026) that it had granted exclusive rights to Zenith Energy plc to evaluate the potential acquisition of Reabold shares in Daybreak Oil and Gas.

Union Jack – director resignation

Union Jack Oil, another investor in West Newton, has announced the resignation of Graham Bull, a non-executive director.

A statement yesterday (3 June 2026) said:

“Mr Bull cited the detrimental effect attacks on the Board from certain media organisations has had on him and his family in his decision to resign.”

The statement did not name any media organisations.

Angus Energy – financial restructuring

Angus Energy, which operates the UK’s largest onshore gas site at Saltfleetby in Lincolnshire, announced today (4 June 2026) that it continued “to make good progress” on legal documents associated with its proposed financial restructuring.

The company has been refinancing its loan with the main creditors, including Trafigura and Forum Energy Services Limited.

The company said in a statement to shareholders:

 “Although progress to final binding agreements has been slower than anticipated, the Company is confident that the restructuring process will conclude in the coming weeks.”

“Upon execution, the proposed restructuring is expected to materially strengthen the Group’s balance sheet, enhance liquidity, and establish a more sustainable long-term capital structure.”

Share trading in Angus has been suspended since 19 May 2026. The company said trading would resume when the restructuring had been completed.

Angus also operates the Balcombe oil site in West Sussex. Planning permission for a well test at the site lapsed in February 2026. The company said it would reapply but no application has yet been published.