Capricorn Energy plc independent non-executive director Hesham Mekawi has stepped down from the board, with immediate effect. Mr Mekawi joined the board in February 2023 under its then new management and appointed as deputy chairman in June of the same year. Non-executive chair Maria Gordon said: “I would like to thank Hesham for his contribution […]
Tag: oil and gas
Predator receives £300,000 via warrant exercise
Predator Oil & Gas Holdings plc has received £304,474.06 following notices to exercise 5,221,203 warrants by Novum Securities Ltd. A total 2,890,908 warrants are exercisable at 5.5 pence per share; 1,780,412 warrants at 5.7 pence per share; and 549,883 warrants at 8 pence per share. The company has issued to Novum 5,221,203 new ordinary shares. […]
United swings to $20m loss
United Oil & Gas plc’s swung to a post-tax loss of $20.4 million while profits halved during a “transitional” 2023. OPPORTUNITIES The company’s “challenging” year was marked by aborted talks on selling its 22% interest in Abu Sennan onshore Egypt, leading to an $3.8m default notice and withdrawal from the licence. United also exited central […]
Beacon to cut costs under Erfelden poor show
Beacon Energy plc subsidiary plans to cut costs and open talks with its creditors as the Schwarzbach 2(3.) sidetrack well continues to perform below expectations in the Erfelden field, Hessen. CHALLENGES In early June, the electrical submersible pump (ESP) was producing intermittently with an apparent initial poor response from the reservoir. The company today said […]
UKOG issues further 248m shares to reduce loan
UK Oil & Gas plc has repaid a further £50,000 of its £2m loan by issuing 247,524,752 equity shares to RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. The outstanding balance of the 2023 loan stands at £210,000. Following admission, UKOG’s total voting rights will be 4,834,122,740 ordinary shares.
Ascent appoints Edouard Etienvre as NED
Ascent Resources plc has appointed Edouard Etienvre to the board as an independent non-executive director. Mr Etienvre is a finance and commercial executive with more than 18 years’ experience in the oil and gas sector. He initially worked in the banking sector (reserve-based lending) and recently with private and public E&P companies, commodities trading houses, […]