Hartshead Resources NL said that the southern North Sea gas joint venture project on the Anning and Somerville fields has restarted following the Government’s Budget in October. SCHEDULE The Australian company is reviewing revised export routes and has meetings next month with the North Sea Transition Authority and partner Rockrose Energy Ltd, subsidiary of Viaro […]
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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 […]
Prospex expects Viura revenue early December
Prospex Energy plc anticipates of flow testing and revenue in early December from the Viura-1B development well in northern Spain. PAYBACK Drilled by partner Heyco Energy Iberia SL (HEI), the well reached its revised targeted total depth of 4,500 metres in October in the 6-inch hole section of the bottom 450m of the well. The […]
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 […]