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 […]
Tag: oil and gas
Alba enters pre-blasting phase at Clogau
Alba Mineral Resources plc this week entered the pre-blasting phase in the Lower Llechfraith workings at Clogau-St David’s gold mine, north Wales. MINING A total 100m of cabling is being installed and a new pump lowered to No.4 level to complete dewatering of No.5 level. “The new pump is a sludge pump with a high head […]
Beacon trims board as part of cost cutting
Beacon Energy plc has trimmed its board and plans to reduce operating costs following lower than expected oil flow from the Schwarzbach-2 sidetrack well in the Erfelden field, Hessen. CREDITORS The departure of NEDs Larry Bottomley, previously CEO, and Stephen Whyte leaves non-executive chairman Mark Rollins, CEO Stewart MacDonald, independent NED Ross Warner and NED […]
Capricorn NED Hesham Mekawi steps down
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 […]
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 […]