Red Rock Resources plc expects to conclude and have payments arranged next week at a working meeting of parties involved in the arbitration award in the Democratic Republic of Congo. The company said it met various parties in Kinshasa over the Christmas and New Year period to discuss the award. Red Rock also signed a framework […]
Finance
Kistos strengthened by Norway tax rebates
Kistos Holdings plc ended 2024 with a cash balance boosted by $84 million in tax rebates for the previous year relating to its Norwegian assets. BALDER AREA The company’s trading statement showed total cash of $144m with undrawn cash of a further $20m in place. Proforma net debt totalled approximately $45 million including tax rebates […]
United issues second tranche of fundraise shares
United Oil & Gas plc has issued the second tranche of shares relating to the December £700,000 fundraise. SUCCESSOR The balance of 315 million new ordinary shares of £0.00001 each have one warrant for every two subscribed placing shares. Following admission, United total issued share capital will be 1,856,353,969 ordinary shares of £0.00001, with voting […]
Beacon becomes cash shell after assets sale
Beacon Energy plc today became an AIM Rule 15 cash shell after creditors sold certain assets belonging to its German subsidiary to a third party, signalling the start of its liquidation. TRADING Rhein Petroleum GmbH had debts of €7.5 million following a poor show at the Erfelden field in Hessen and lack of “very significant […]
Guardian raises £750,000 via placing
Guardian Metal Resources plc has raised £750,000 by way of a placing of 2.5 million new ordinary shares of one pence each with a single existing institutional investor at £0.30 per share. TUNGSTEN The placing shares, with no warrants attached, represent 2.00% of the enlarged issued share capital of the company. The investor is UK asset manager Premier […]
Capricorn awaits delayed Columbus payment
Capricorn Energy plc said it was still awaiting the final US$22.5 million settlement payment relating to the Columbus field from Waldorf Production UK plc. EXTENSION The company acquired a non-operated 25% interest in the field when it sold its interests in the Catcher and Kraken fields under revised term in December 2023. After Waldorf missed […]