Conroy Gold and Natural Resources plc has raised £400,000 by issuing nearly three million new ordinary shares to two investors. TERMS A total of 2,962,962 new ordinary shares of €0.001 [sic] will be issued, each at 13.5 pence and representing a discount of 9.2% to the closing mid-market price of 14.875 pence on 19 June […]
Finance
Parkmead writes off Perth oil for £33m
The Parkmead Group will write off its Perth oil development in a non-cash one-off impairment of approximately £33 million because of “unprecedented challenges” in the hydrocarbon sector. ISSUES In its business review, the company said it had re-evaluated its direction following “volatile oil and gas prices, ageing infrastructure and rising capital and operating costs”. Parkmead […]
Clontarf mulls further financing as losses near £4.8m
Clontarf Energy plc said it was considering further financing for its activities as the company’s losses reached £4.8 million from its oil and gas and more recent lithium interests. FINANCES The group has a 60% working interest in the Tano block in Ghana, a memorandum on the Chad Basin, and in 2023 signed a joint […]
Cornish Lithium announces advisory board
Cornish Lithium today said that in December 2022 it established an “advisory board” experienced in environment, social and governance (ESG), public relations and finance. MEMBERS Kate Harcourt has more than 30 years’ experience across the mining industry and was appointed Cornish Lithium’s ESG officer in April 2021. She also serves as non-executive director to Condor […]
IOG to investigate Blythe H2 constrained flow rates
IOG plc will investigate a potential mechanical blockage downhole constraining flow in the Blythe H2 development well in the southern North Sea. ISSUES Remedial downhole equipment will be mobilised in the coming weeks and run in the well with the rig alongside, with H2 well shut in during these operations. The news follows gas […]
Corcel completes Kwanza oil and gas acquisition
Corcel plc completed the acquisition of its 90% interest in Atlas Petroleum Exploration Worldwide Ltd with assets in the Kwanza basin, onshore Angola. CONTRACTS The company last week signed the risk service contracts for blocks KON-11, KON-12 and KON-16 and other conditions precedent are also satisfied. The issue of shares for the transaction, announced in May […]