News Oil & Gas

Corallian sells for £32m to Shell UK

Posted on Author editorial Comments Off on Corallian sells for £32m to Shell UK

Reabold Resources plc reported the execution of the £32 million sale of its investee company Corallian Energy Ltd, holding the Victory discovery, to Shell UK Ltd.

OPPORTUNITIES

The investment company added it expected completion of the deal and initial gross consideration payment of £10m, c.£3.2m net to Reabold, will be during Q4 of 2022.

Reabold intends to use the net proceeds to advance development of its existing assets, including West Newton, and assess potential further acquisition opportunities.

Related Articles
News Oil & Gas

Hartshead nears submission of Anning-Somerville FDP

Posted on Author editorial

Hartshead Resources NL expects to submit the field development plan in the next few weeks to the industry regulator for Phase I development of the Anning and Somerville gas fields in the southern North Sea. PHASE I Phase I comprises six production wells produced through two un-manned minimum facilities platforms tied back via a 40km […]
News Oil & Gas

Angus losses rise due to derivative instrument

Posted on Author editorial

Angus Energy plc’s rise in losses could see it raise further funds for its onshore oil and gas assets in the United Kingdom. FINANCES The company’s audited annual accounts for the year ended 30 September 2022 showed losses of £111.947m, which included a derivative loss of £110.309m in relation to the derivative instrument, resulting in […]
Finance Metals & Minerals News

Power Metal investee Katoro raises £815,000

Posted on Author editorial

Power Metal Resources plc’s investee Katoro Gold plc has raised £815,000 from a placing of 81,500,000 new ordinary shares at 1 pence per share, of par value £0.01 each. Power Metal holds a direct 35% interest in the company as well as 10,000,000 shares and 10,000,000 warrants.