Reabold Resources plc plans to increase its interest to 17.6% for £250,000 cash in the operator of the Colle Santo gas field. SECOND OPTION The company will acquire a further 1.6% in LNEnergy Ltd by subscribing for 18 new ordinary shares each at £13,889, funded from existing cash resources. As part of the investment, LNEnergy has […]
Tag: acquisition
Egdon sale progresses after satisfying NSTA condition
Egdon Resources plc’s sale to Petrichor Partners LP has progressed following satisfaction of the oil and gas regulator’s condition. TIMETABLE The purchaser has confirmed receipt of the North Sea Transition Authority’s ‘comfort letter’ in relation to the acquisition, said Egdon today. Following the satisfaction or waiver of other conditions, the sanction hearing is expected to […]
Egdon sells for £26.6m to shareholder Petrichor
Egdon Resources plc has agreed to be sold for £26.64 million cash to its majority shareholder Petrichor Partners LP which plans to delist the company. TERMS Petrichor is a wholly owned subsidiary of Heyco Energy Group Inc. The parent company of Heyco Energy Group Inc and Petrichor is Explorers Petroleum Corp, controlled by George Yates […]
Corcel exercises option to acquire Canegrass lithium
Corcel plc has exercised its option to acquire the Canegrass lithium project in Western Australia. LOW COST The company signed a 30-day option period in February and, as agreed, will now issue vendor Huntsman Exploration Inc with 50,000,000 new ordinary shares at £0.004, equating to a total £200,000. “Building upon our recent acquisition and farm-out […]
Chesterfield to acquire Adeline copper project
Chesterfield Resources plc announced it is to acquire 100% of a belt-scale copper exploration project, named Adeline, in the Labrador region of eastern Canada. The company, which is exploring for copper in Cyprus, said its objective was to be a leading copper exploration and resource development company to help supply the global demand for electrification. Adeline covers […]
Cairn to acquire onshore Egypt assets
Cairn Energy plc and partner Cheiron Petroleum Corp hope to purchase a portfolio of upstream oil and gas assets for US$646 million ($323m net to Cairn) in the Western Desert, onshore Egypt. The acquisition of hydrocarbon production, development and exploration interests from Shell Egypt NV and Shell Austria GmbH (Shell) will have an additional contingent […]