First Class Metals plc said it planned to advance it exploration strategy before selling or entering a joint venture (JV) for its metals’ licences in Ontario, Canada. STRATEGY In the company’s final results for the year ended 31 December 2022, chief executive Marc Sale added that most of the six out of nine properties explored […]
Tag: company results
Capricorn to return $575m to shareholders
Capricorn Energy plc has committed to returning some US$575 million excess cash flow to shareholders. ACTIONS The company said the funds, due over the coming 12 months, were not needed for its future operational focus. A total $100m depends on negotiations with stakeholders and licence extensions in Egypt, actual oil and gas prices and the […]
United revenue falls and capex rises in ‘challenging’ year
United Oil & Gas plc’s revenue fell and capital expenditure rose from mixed results in a “challenging year” at its Abu Sennan interests, onshore Egypt. FINANCES The company holds a 22% working interest in the licence which is operated by Kuwait Energy Egypt. Audited results for the year ended 31 December 2022 show revenue of […]
Europa swings to pre-tax loss
Europa Oil & Gas (Holdings) plc recorded its highest interim revenues from the onshore Wressle oil field but swung to a pre-tax loss due to an offshore exploration impairment charge in Morocco. FINANCES The company’s unaudited interim results for the six months ended 31 January 2023 showed revenues increased to £3.7 million (H1 2022: £2.2m), […]
Hummingbird progresses Yanfolila-Kouroussa
Hummingbird Resources plc maintained steady performance at its Yanfolila gold mine in Mali while remaining on schedule for first gold pour at Kouroussa, Guinea. CONTRACT Results for Q1 2023 showed production continuing from the end of the previous year with 27,262 ounces (Q4 2022: 28,264: Q1 2022: 15,548). Q1 2023 all-in sustaining cost (AISC) from […]
Deltic looks to bright future in developing gas assets
Deltic Energy plc said its future looked “extremely bright” as it moves into the development phase of its offshore gas interests in the southern North Sea (SNS). STRATEGY In audited results for 2022, chief executive Graham Swindells added the company expected to conduct appraisal work on Pensacola and Selene wells, “each of which will be […]