Finance News Oil & Gas

Orcadian delays action over debt payment

Orcadian Energy plc faces no action until the end of August for missing the deadline to pay $1.43 million debt to Shell International Trading and Shipping Company Ltd (Stasco). OBLIGATIONS The amount owed will be settled from payment due under a proposed farm-in or joint venture on Orcadian’s southern North Sea Earlham discovery. The company […]

Metals & Minerals News

Red Rock issues 405m shares to convert debt

Red Rock Resources plc has issued 405,175,088 new ordinary shares at a subscription price of 0.045 pence per share to convert £182,328.79 debt. Following admission, the company’s issued ordinary share capital will comprise 4,785,820,566 ordinary shares, with voting rights. Red Rock holds none of the ordinary shares in treasury.

Finance News Oil & Gas

United settles outstanding $840,000 debt

United Oil & Gas plc said it had settled the final outstanding sum of $839,200 with its debt provider. JAMAICA The company has also completed the necessary paperwork to withdraw fully from Egypt. Chief executive Brian Larkin added: “We’re delighted to have reached a settlement agreement with our debt provider and express our gratitude for […]

Finance Metals & Minerals News

Horizonte draws down first tranche of $346.2m debt for Araguaia

Horizonte Minerals plc said it had drawn down the first tranche of the US$346.2 million senior debt facilities for its 100%-owned Araguaia nickel project in Brazil. CONDITIONS The move follows the company satisfying all conditions precedent and also unlocks the balance of the funding to complete construction and commissioning of the project. Horizonte company has […]