Reabold Resources has detailed its work programme for the West Newton oil and gas field in East Yorkshire.

The majority investor in the West Newton licence today restated its plan to carry out lower-volume fracking, described as reservoir stimulation, on the West Newton-A2 well this autumn (quarter 4 2026).

In interim accounts, published today, Reabold also outlined longer-term commitments for West Newton, agreed with the industry regulator, the North Sea Transition Authority (NSTA).

The company did not mention a High Court challenge by a local campaigner against the Environment Agency over permission for lower-volume fracking at West Newton. It also did not refer to an court application by the campaigner for interim injunction to prevent the start of work.

Lower volume fracking and well test

Reabold said the operation to re-enter and recomplete the West Newton-A2 well was intended to establish sustained gas flow. It said the gross cost was expected to be £2.5m, excluding Reabold’s contingency of £2.1m.

The accounts said:

“The reservoir stimulation will aim to open fractures within the reservoir and then prop the fractures open using sand. The operation is designed to restore and enhance near wellbore permeability. The JV [joint venture] partnership believes this is a low risk and low-cost approach to derisk the project.”

Reabold also said its subsidiary, the West Newton site operator, Rathlin Energy, was “in the early stage of planning an EWT (extended well test)”, if the reservoir stimulation were successful.

This would allow an assessment of the extent and performance of the reservoir, required before deciding on full field development, Reabold said.

Reabold added:

“Until the reservoir characteristics are fully understood, through an EWT, it is too early to determine the most suitable method for transporting gas to market.”

Options include pipeline connection to the national transmission system or direct supply to local industrial users, Reabold said.

Commitments

In the near term, Reabold repeated there were proposals for small-scale electricity generation at West Newton-A to supply onsite computing or data centre facilities. It said this would reduce the need for flaring, and “minimise waste and environmental impact”.

Reabold said it had agreed with the NSTA to recomplete the WNA-2 well and carry out the EWT by 30 June 2027.

Other commitments listed in the accounts were:

• Investment decision and long-term EWT/Data centre development by 30 June 2028
• Investment decision and drill horizontal well by 30 June 2029
• Test horizontal well and submit a field development plan by 30 June 2030

Fundraising

Reabold said it had raised £4.3m in the first half of 2026.

Of the total, £1.9m was from a group of US investors, including £1.5m from Rohan Oza. In addition, £1.5m was from a placing and £0.9m from direct subscriptions.

Proceeds would be used on the recompletion and lower volume frack on the A2 well at West Newton-A in East Yorkshire.

Reabold has a 69.9% economic interest in the West Newton licence PEDL183. The company has a 79.8% interest in Rathlin Energy and a 16.67% direct interest in the licence.

Sachin Oza and Stephen Williams, Co-CEOs of Reabold, said:

“In Q4 2026, we expect to commence recompletion works at the West Newton A-2 well, a pivotal step towards unlocking the full value of our flagship UK project. The support shown by new and existing investors, including from a group of US strategic investors, enabled us to raise a total of £4.3 million during the period, positioning the Company to fund Reabold and Rathlin’s share of the recompletion.

Key figures

Unaudited interim accounts for six months to 30 June 2026

Loss for six months to June 2026: £1m (First half of 2025: loss of £1.4m)

Total comprehensive loss for the period: £1.453m (First half of 2025: loss of £1.435m). Reduced loss due to £0.6m gain on sale of its 47.6% share of LNEnergy to Beacon

Total exploration and evaluation assets (onshore and offshore in UK and beyond): £29.3m. (First half of 2025: £29m)

Total liabilities: £1.104m. (First half of 2025: £1.214m)

Decommissioning provision for West Newton: £0.8m (31 December 2025: £0.7m)

Net cash or operating activities: £0.9m (30 June 2025: £0.9m)