United Oil & Gas plc is reviewing its cost structure as it awaits $620,000 in receivables from Egypt and talks suspend on the offshore Jamaica farm-out until the new year. EFFORTS Chief executive Brian Larkin met his counterpart of national oil company Egyptian General Petroleum Corporation (EGPC) regarding the outstanding payment from the Abu Sennan […]
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Orcadian acquires HALO shares
Orcadian Energy plc has acquired for an undisclosed sum all of the ordinary shares of Hague and London Oil Offshore UK Ltd from the joint liquidators of Hague and London Oil plc (HALO). LOSSES HALO previously held a number of licences across the southern North Sea, including “participation” in wells on Pegasus and Andromeda and […]
Hummingbird investee appoints new CEO
Hummingbird Resources plc’s investee and owner of the Liberian Dugbe gold project has appointed Brett A. Richards as chief executive officer with immediate effect. The company holds a 53% interest in Pasofino Gold Ltd which in September was under a US$75 million offer. Mr Richards has more than 37 years’ mining and metals industry experience […]
Power uranium JV renamed Fermi Exploration
Power Metal Resources plc’s uranium joint venture with UCAM Ltd has been named Fermi Exploration Ltd. The company said that the name commemorated the pioneering work of Italian-American physicist Enrico Fermi in developing the first nuclear reactor. Fermi Exploration is registered in Vancouver, Canada. The JV’s assets include all licences previously held by Power Metal in […]
Condor receives non-binding buyout offers
Condor Gold plc has received non-binding offers including a $90.1 million cash-shares acquisition by Metals Exploration plc and an undisclosed proposal from Calibre Mining Corp. GALLOWAY Condor’s 24.7% shareholder Galloway Ltd, owned by Condor non-executive chairman Jim Mellon, has made an irrevocable undertaking to sell its share to Metals. Galloway holds 50,512,597 shares and 892,857 share […]
Guardian receives £97,839 via warrant exercise
Guardian Metal Resources plc has received £97,839.59 following notice to exercise warrants over a total 575,527 new ordinary shares of 1 pence each at 17p per warrant share. On admission, the company’s issued share capital will comprise 119,937,912 ordinary shares of 1p each, with voting rights. Guardian is exploring for tungsten, lithium, base and precious metals in Nevada, […]