Oil and gas investor Reabold Resources plc said it expected to invest £1 million in Corallian Energy Ltd through a conditional convertible loan instrument for the Victory gas field, West of Shetland. The convertible loan is conditional on Corallian receiving the consent of 75% or more of its shareholders. Reabold has an existing 36.9% shareholding […]
Tag: oil and gas
Union Jack aims for enhanced profile and mid-tier status
Union Jack Oil plc has said it planned to consolidate its share capital to avoid price volatility, increase liquidity and to enhance the perception of the company. The company’s proposals include consolidating the existing ordinary shares in issue so that every 200 existing ordinary shares will be consolidated into one consolidated ordinary share. Union Jack […]
Europa to raise £2m via placing-broker option
Europa Oil & Gas (Holdings) plc has conditionally raised £2 million through a placing and broker option. The company conditionally raised £1.5 million (before expenses), through the issue of a total of 115,384,616 new ordinary shares at a price of 1.3 pence per placing share. Europa has also granted a broker option to conditionally raise up to a […]
United nears completion of initial testing of ASH-3
United Oil & Gas plc expects initial testing to be completed at the ASH-3 well ahead of being brought onstream at the joint venture Abu Sennan concession, onshore Egypt. PRODUCTION The company added that the well encountered 27.5m of net pay interpreted over a 59m gross section in the targeted Alem El Buieb (AEB) reservoir. […]
Block restarts oil production at West Rustavi
Block Energy plc has restarted production from WR-38Z and WR-16aZ wells at West Rustavi oil field in Georgia. TIE BACK Oil and gas flowed through its new in-field flowline to its early production facility (EPF) in the West Rustavi field at the WR-16aZ wellsite. Gas is separated in the EPF from the crude oil before […]
Reabold Resources’ share placing raises £7.5m
Reabold Resources plc announced it had received £7.5 million by way of a placing and subscription of new ordinary shares of 0.1p each. A total of 890,909,093 ordinary shares have been placed with new and existing institutional investors and a total of 472,727,270 ordinary shares have been subscribed for by certain directors and institutional investors, […]