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 […]
Oil & Gas
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 […]
Tullow ruled exempt from $320m tax
Tullow Oil plc said it was not liable to pay $320 million tax on its offshore Ghana petroleum agreements following today’s ruling from the International Chamber of Commerce. FOCUS The amount relates to the branch profit remittance tax (BPRT) under the Deepwater Tano and West Cape Three Points petroleum agreements, which include the Jubilee and […]
Jersey Oil & Gas NED retires
Jersey Oil & Gas plc non-executive director and chairman of the audit committee Marcus Stanton has retired. Mr Stanton had been with the company since it listed in 2015, firstly as non-executive chairman and latterly as a NED. “I would like to express my thanks to Marcus and wish him well in all his future […]
Ascent CEO in director dealings
Ascent Resources plc chief executive officer Andrew Dennan has engaged in direct and indirect share dealing in the company. On 20 December C4 Energy Ltd sold 2,173,913 ordinary shares of £0.005 each in Ascent at 2.2023p per share for £47,876.08 and now holds no shares in the company. Mr Dennan holds a 25% beneficial interest […]
Tullow NED in shares-senior notes purchase
Tullow Oil plc non-executive director Roald Goethe has bought 100,000 ordinary shares of 10 pence each in the company at £0.1964 per ordinary share. Today’s £19,640 purchase follows Mr Goethe’s acquisition on 18 December of one million of Tullow’s 7.00% senior notes due in 2025. The transaction on the OTC Bloomberg Euromarket Fixed was for […]