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: Corcel

Price: 1.175 GBX

Market: LSE
Market Cap: £2.23 m

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Regency Mines Plc chairman on Horse Hill project potential

Andrew Bell, chairman of Regency Mines Plc (LON:RGM), tells Proactive about the benefits of returning to the Horse Hill project which is a main focus for the company in 2016. The discovery at the UK oil project near Gatwick Airport is in Bell’s words “the most successful onshore discovery...

on 1/4/16

2 min read