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 […]
Tag: debt
Orcadian misses deadline to repay Shell debt
Orcadian Energy plc has missed the deadline to pay the $1.43 million debt owed to Shell International Trading and Shipping Company Ltd (Stasco). FUNDS The company, which aimed to secure funds by 5 July, said on the same date that the expected money had not arrived from an as yet unnamed industry partner. A statement […]
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.
Orcadian secures new debt repayment date
Orcadian Energy plc has secured an extension to 5 July to repay its $1.43 million loan to Shell International Trading and Shipping Company Ltd. The amount owed will be settled from payment due under a proposed farm-in or joint venture on Orcadian’s offered southern North Sea licence. On repayment of the debt, the company will […]
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 […]
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 […]