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 […]
Finance
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, […]
Hummingbird issues 863m shares to clear debt
Hummingbird Resources plc issued 863,079,491 new ordinary shares of nominal value £0.01 at 2.6777 pence per share to convert £23.1 million of loan facilities from its main creditor. The conditional binding two-tranche subscription by CIG and Nioko Resources Corporation follows the proposed debt-to-equity conversion announced in early November. Hummingbird faces a buyout and delisting after […]
Beacon’s German subsidiary faces liquidation
Beacon Energy plc expects its German subsidiary Rhein Petroleum GmbH, with debts of €7.5 million, will be sold following a 20% drop in production. CAPITAL The company said it was looking to other areas in Europe as well as Africa and the Far East for new opportunities which it has been assessing for the past […]
Parkmead in talks to sell offshore UK licences
The Parkmead Group plc is in talks to sell its offshore UK licences as the company posted a swing to a profit in its full-year preliminary results. ASSETS The affected interests lie in the UK West of Shetland, Moray Firth and central and southern North Sea. Included in the portfolio is part ownership of licence […]
Sunrise receives balance from Crow Springs sale
Sunrise Resources plc has received the US$75,000 balance from the sale of its diatomite mining claims in the Crow Springs area of Nevada, USA. ROYALTY Dicalite Management Group bought the assets for $150,000 in April this year. Sunrise retains a royalty of US$6/dry ton of diatomite mined and removed from theclaims. “This payment is being […]