UK Oil & Gas plc has reduced its 2023 loan by issuing 200 million ordinary shares to lenders RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. Conversion of the equity shares will further reduce the current £545,000 principal balance of the £2m gross first cash sum received. UKOG said that the reduction in […]
Tag: oil and gas
Deltic remains committed to UK exploration
Deltic Energy plc remains committed to exploration within the UK despite political and fiscal challenges and uncertainly from the Energy Profits Levy (EPL). PORTFOLIO Chief executive Graham Swindells said that the EPL continued the “attractiveness” of investing in the company’s projects which drew tax relief. “Nonetheless, the existence of the EPL does nothing for investor […]
Ascent Slovenia operating agreement cancelled
Ascent Resources plc said its Slovenia partner’s administrator had terminated the restated joint operating agreement (RJOA) on the same date as the opening of its partner’s insolvency proceedings. PRECAUTION The termination is under default rules of Slovenian Obligations Code. The Petišovci onshore gas joint venture is between Ascent Slovenia Ltd (ASL) and Geoenergo d.o.o. which […]
Tullow NED purchases 200,000 shares
Tullow Oil plc non-executive director Roald Goethe has bought 200,000 ordinary shares of 10 pence each in the company at an average price of £0.36 per ordinary share. Two purchases of a total 128,465 shares for £46,063.54 took place on 15 April. A third purchase of 71,535 shares for £26,467.95 was on 16 April.
Predator appoints Geoffrey Leid as T-Rex director
Predator Oil & Gas Holdings plc has appointed Geoffrey Leid as a director of its subsidiary T-Rex Resources (Trinidad) Ltd. The company has also awarded Mr Leid three million unallocated share options on his appointment. The options, issued on 18 April 2024, are exercisable at 12.5 pence per share. One million share options vest immediately and the […]
NSTA fines NEO £100,000 for venting breach
NEO Energy Production UK Ltd (NEO) has been fined £100,000 for breaching its combined vent consent for the Donan, Lochranza and Balloch fields 200km northeast of Aberdeen. FAILURE The North Sea Transition Authority said that venting approval, issued for 1 January to 31 December 2022, allowed for 1.035 tonnes of venting per day, equivalent to […]