Hummingbird Resources plc net group estimates have fallen compared with last year’s statement for its projects in Guinea, Mali and Liberia. UNTAPPED EXPLORATION Revised group reserves total 4.03 million ounces of gold and group resources of 6.95 Moz, while net figures saw a decrease of 98,000 ounces and 327 Koz respectively. At the Kouroussa gold […]
Month: November 2024
Star Energy profits fall on lower oil prices
Lower oil prices, investment and taxes saw Star Energy Group plc half-year profits plummet and revenue fall from its onshore oil and gas operations. EXPENSES Results to 30 June 2023 showed the group, formerly IGas Energy, net production average rise to 2,071 boepd (H1 2022: 1,865 boepd), with the forecast unchanged at around 2,000 boepd for […]
IOG in talks over €100m bond interest payment
IOG plc said its financial position remained “challenging” with falling gas prices and production while the date nears for €100m bond interest repayments. BLYTHE The company is also in talks “on near-term liquidity and longer-term capital structure solutions” with holders of its senior secured bond as the waiver date of 29 September nears to repay […]
Orcadian secures further six months to repay $1m loan
Orcadian Energy plc has agreed a six-month extension to repay a £1 million loan to Shell International Trading and Shipping Company Ltd. OPTIONS The North Sea oil and gas company’s deadline for the third extension is now 13 March 2024. Orcadian, which currently holds £92,000 cash and a monthly burn rate of less than £20,000, […]
CAML begins exploration in Kazakhstan
Central Asia Metals plc has created a “solid platform for growth” from its cash holding of $50.6 million from copper-lead-zinc operations in Kazakhstan and North Macedonia. FINANCES In its half-year results, the company said it had started early-stage exploration in Kazakhstan with Terra Exploration and in 2023 expects to complete the Kounrad solar power plant. Group […]
EnQuest appoints Karina Litvack as NED-senior independent director
EnQuest plc has appointed Karina Litvack as a non-executive director (NED) and senior independent director from 15 September 2023. She will also chair the remuneration and social responsibility committee. Ms Litvack’s career has focused on climate transition and business resilience. She was founding chairman of the Climate Governance Initiative, a collaboration with the World Economic […]