Orcadian Energy plc’s proposed sale and farm-out of interests in sub-areas of licence P2320 have terminated after the industry regulator refused a second extension. NSTA The company said that following extensive discussions, the North Sea Transition Authority (NSTA) had refused to extend Phase A of P2320, causing the licence to expire on 14 May 2023. […]
Month: November 2024
Block increases loan to $2m for Georgia drilling
Block Energy plc has increased its US$1.06 million loan, secured in February 2023, by $940,000 for its oil and gas operations in Georgia. DIRECTORS’ DEALINGS The funds will maintain scheduled liftings and accelerate procurement of materials to drill its next project I wells, the first of which is KRT-45Z, in the West Rustavi/Krtsanisi field. The […]
Oriole issues 2m shares for salary sacrifice
Oriole Resources plc said it would issue a total 2,116,259 ordinary shares to members of the board in relation to £7,000 of gross salary foregone during April 2023. The shares will be issued at a 25% premium to their previously agreed pricing under the six-month salary sacrifice scheme. Oriole added that, due to the increase […]
Red Rock issues 24.5m incentive shares
Red Rock Resources plc has issued 24,512,229 ordinary shares each of £0.0001 in the company under a share incentive plan (SIP) for the 2022/23 tax year. DIRECTORS The move was agreed by the trustees in their meeting on 5 April 2023. Four directors are participating in the shares purchase and award of 18,048,913 new ordinary shares […]
Red Rock raises £535,800 via placement
Red Rock Resources plc raised £535,840 before expenses by placing 376,028,070 new ordinary shares each of £0.0001 in the company at 0.1425 pence per placing share. USES Following admission, the company’s total issued share capital will consist of 1,958,538,069 ordinary shares, each with one voting right. Red Rock holds no shares in treasury. Net proceeds will fund the company’s […]
Hartshead completes 60% Seward farm-out
Hartshead Resources NL has completed the farm-out agreement with RockRose Energy Ltd for a 60% equity interest in its Seaward gas licence P2607 in the southern North Sea. TERMS The deal gives the Australian company gross A$196.3 million (£105m) for phase I of operations and A$536m (£287m) of gross project expenditure. RockRose’s initial cash payment […]