Cornish Lithium plc has appointed Darryll Castle, operations director of its cornerstone investor TechMet, as a director. Companies House recorded the appointment of the South African company director effective from 14 September 2023. TechMet’s website states Mr Castle has more than 30 years’ experience in company leadership, project/operational delivery and transformation, technical planning and implementation, […]
Finance
Orcadian agrees non-binding 81.25% farm-out for Pilot
Orcadian Energy plc has agreed a non-binding, 81.25% farm-out with an as yet unnamed North Sea operator for the potential development of the Pilot project. TERMS The company, which now holds £90,000 and six months to repay $1m million to Shell, has granted the operator an exclusive period until 30 November 2023 to complete the […]
Cornish Lithium raises £3m to date via crowdfunding
Cornish Lithium plc had this morning raised £3 million from existing shareholders in its latest crowdfunding campaign of up to £6.9m. The fundraise was today extended to the public. Money received will go towards the hard rock Trelavour project and the engineering design work to build a demonstration-scale geothermal waters extraction facility.
JOG marks ‘clear pathway’ to monetise GBA
Jersey Oil & Gas plc (JOG) said it had a clear pathway to its commercial future following the farm-out of its Greater Buchan Area licences. PREPARATIONS Interim six-month results to 30 June, show the company held approximately £5.6 million cash with no debt. Loss for the period, before and after tax, was approximately £2.9m (2022: […]
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 […]