News Oil & Gas

Block remains strong with Rustaveli acquisition

Block Energy plc said it built its production and development base and maintained a strong financial position in 2020 due to its acquisition of 100% shares of Block Rustaveli Ltd in West Rustavi, Georgia. The acquisition, formerly Schlumberger Rustaveli Company Ltd, holds the PSCs to Blocks IX and XIB. FINANCIAL In its audited results for the year ended 31 […]

Metals & Minerals News

Power Metal aims to become ‘stand-out performer’

Power Metal Resources plc has increased its assets, investments and working capital to grow its portfolio across Australia, Africa and North America. FINANCES In its unaudited interim results for the six months ended 31 March 2021, the junior miner recorded £2,692,474 raised through warrant exercises and held net assets of £4.6 million (30 September 2020: […]

News Oil & Gas

Deltic makes technical progresses on gas licences

Deltic Energy plc remained debt free during 2020 while making technical progress with its gas licences in the southern and central North Sea. OPERATIONS Results ended 31 December 2020 showed a decrease in the company’s cash position to £12m (2019: £13.8m). The company’s intangible assets rose to £1,430,915 (2019: £1,127,942) reflecting the development of its exploration portfolio. Work […]

Finance Metals & Minerals News

Critical Metals eyes new ventures after losses widen

Critical Metals plc announced an increase in losses during 2020 but remained confident of progress this year with potential opportunities. EVALUATION Results for H2 2020 showed a net loss of £152,111 compared with £17,437 for the same period in 2019. The group had cash reserves of £630,148 (2019: £34,342) and raised £800,000. In September 2020 it listed […]

News Oil & Gas

IOG swings to a loss

Independent Oil and Gas plc (IOG) swung to a loss as the company’s cash balance fell and the group recorded a net debt. In its final audited results for the year ended 31 December 2020, the company reported post tax losses of £19.3 million compared with a 2019 profit of £15m generated by the CalEnergy […]