Reabold Resources Plc announced that Corallian Energy Limited, operator of the Wick well located in the UKCS Block 11/24b (Licence P2235), has informed the Company that the target Beatrice sands, whilst present in the well, were water bearing. The well has been drilled to a total depth of 1000m. Accordingly, the well will now be plugged and abandoned and the ENSCO-72 jack-up rig will subsequently be mobilised from the Moray Firth to the English Channel to drill the Colter prospect.