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 […]
Oil & Gas
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 […]
Ascent acquires 49% in Utah-Colorado licences
Ascent Resources plc has acquired a 49% interest in 119,000 acres of helium-rich oil and gas licences in the Paradox Basin across Utah and Colorado, USA. ZONES The US$2 million acquisition, supported by a $475,949 fundraise at a 203% premium, is from Houston-based operator American Helium LLC. Ascent will pay $1.75m with 27,650,000 new Ascent […]
Europa ends Whisby 4 royalty agreement
Europa Oil & Gas (Holdings) plc has ended the royalty agreement over the Whisby 4 well in East Lincolnshire with operator and licence holder BritNRG. UNCERTAINTIES The company said the agreement had generated no income for it and that the North Kesteven project would need further investment for a potential cash return. The carrying value […]