Western Gold Exploration plc said it had completed its previously announced non-brokered private placement for C$1,243,580 via a private placement. The company issued 17,765,428 common shares each at a price of C$0.07. Monaco-based Zila Corporation, which held 14.07% of WGE’s issued and outstanding common shares, acquired 4,285,714 shares for C$300,000. The investor now holds 11,334,388 […]
Finance
Beacon to cut costs under Erfelden poor show
Beacon Energy plc subsidiary plans to cut costs and open talks with its creditors as the Schwarzbach 2(3.) sidetrack well continues to perform below expectations in the Erfelden field, Hessen. CHALLENGES In early June, the electrical submersible pump (ESP) was producing intermittently with an apparent initial poor response from the reservoir. The company today said […]
UKOG issues further 248m shares to reduce loan
UK Oil & Gas plc has repaid a further £50,000 of its £2m loan by issuing 247,524,752 equity shares to RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. The outstanding balance of the 2023 loan stands at £210,000. Following admission, UKOG’s total voting rights will be 4,834,122,740 ordinary shares.
Baron enters year three of Chuditch PSC
Baron Oil plc has entered year three of the Chuditch production sharing contract as it continues to prepare financing for an appraisal well, offshore Timor-Leste. DISCUSSIONS Subsidiary SundaGas holds a 60% working interest in the joint venture with state-owned Timor Gap Chuditch Unipessoal Lda. For the third year, which began on 19 June, the partners […]
Rockhopper due first Ombrina Mare payment
Rockhopper Exploration plc said it expected tranche I payment from its Ombrina Mare arbitration award within five business days. The compensation relates to Italy’s ban on oil and gas exploration within 12 miles of the Italian coastline, which affected the company’s activities in the oil field. Rockhopper subsequently went to tribunal at the International Centre […]
Capricorn restarts share buyback
Capricorn Energy plc has restarted the US$25 million share buyback, first announced on in May 2023, of which $21m has to date been repurchased. The company said that the share buyback aimed to reduce its share capital, with the purchased shares to be held in treasury. Capricorn is authorised to purchase a maximum 10,815,854 existing […]