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Reabold Resources said it had agreed to up its stake in Danube Petroleum to 41.6% for about £0.81m.
The company said it had subscribed for 810,811 Danube shares at an issue price of £1 each via two tranches.
The decision came after following 'highly encouraging' results from the Iecea Mica-1 appraisal well in Romania.
Danube owns the sole risk area within the Parta licence that includes IM-1, as well as 50% of the remainder of the Parta licence.
Licence operator ADX Energy had also participated in the subscription.
At 1:20pm: (LON:RBD) Reabold Resources Plc share price was 0p at 1.25p