Ascent Resources plc said that the high court has given final approval of its Slovenia joint venture partner Geoenergo d.o.o.’s insolvency. TENDER The company has stated it is owed approximately €8,000,000 of revenues which Geoenergo has already received. Ascent said it was still working to register Ascent Slovenia Ltd (ASL)’s claim in the insolvency proceedings […]
Month: November 2024
Horizonte agrees third payment deferral to lenders
Horizonte Minerals plc has agreed a third extension to senior lenders’ waivers, including interest, on interim funding for the Araguaia nickel project in Brazil. FUNDING Payment, expected on 29 March, is now due on 20 April. The company again repeated that any further postponement of payments could not be guaranteed. The funding package agreed in […]
Sunrise sells non-core Crow Springs diatomite claims
Sunrise Resources plc has sold its 29 non-core diatomite mining claims in Crow Springs, Nevada to Dicalite Management Group. ROYALTIES The company received US$75,000 on transfer of the claims with the balance of the total sale price of $150,000 payable when Dicalite submits a mine plan of operations to the Bureau of Land Management. Dicalite […]
Orcadian completes 81.24% Pilot farm-out to Ping
Orcadian Energy plc has completed the 81.24% farm-out of central North Sea licence P2244, containing the Pilot oil field, to Malaysian operator Ping Petroleum UK plc. TECHNOLOGY Discovered in 1989, appraisal of Pilot showed “excellent quality reservoir and contains 263MMbbl of a viscous oil”. Orcadian said that Ping, focused on shallow water offshore production and […]
Alba identifies new gold targets from airborne survey
Alba Mineral Resources plc has identified three gold targets from the first part of it recent airborne magnetic survey across the Dolgellau gold belt in Wales. ZONES The surveys, over the Clogau, Castell Carndochan and Hafod Owen prospects, were flown between November 2023 and January 2024. Review and interpretation of the first part of the […]
United-Egdon granted more time for Waddock Cross
United Oil & Gas plc said that a five-year extension has been granted to PL090 containing the Waddock Cross onshore oil field in Dorset. REDEVELOPMENT The company holds a 26.5% working interest in PL090, of which the operator is Egdon Resources plc, owned by Petrichor Partners LP, which in turn is owned by Heyco Energy […]