UK Oil & Gas plc has repaid a further £55,000 of its loan by issuing a further 244,444,444 shares to investors RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. The balance now stands at £310,000 of the original £2m loan. Following admission, UKOG’s total voting rights will be 4,348,502,750 ordinary shares.
Tag: oil and gas
Beacon finds ‘poor’ initial response at Erfelden
Beacon Energy plc said it was yet to stabilise rates after a poor initial reservoir response from the Schwarzbach 2(3.) (SCHB-2) sidetrack in the Erfelden field, Hessen. DATA Sand jetting operations completed in February to stimulate the well before production restarted with the rod pump. SCHB-2 began from the original well bore at a depth […]
Ascent changes board in strategic deal
Ascent Resources plc plans to appoint Ibrahim Diab as executive chairman and has appointed Lionel Therond as chief financial officer. The changes are in a “strategic collaboration” with Delta Energy Corp SARL. Mr Diab and Eric Faillenet, former managing director at Carlyle International Energy Partners and previously a Perenco senior executive, co-founded London and Luxembourg based-Delta. […]
Deltic given more time to find Pensacola partner
Deltic Energy plc has been granted more time to find a farm-in partner for the southern North Sea licence P2252 containing the Pensacola gas discovery. APPRAISAL The company had until the end of May to find £15 million for its share of the costs or withdraw from its 30% licence interest. Deltic today said that […]
Corcel partner halts TO-13 drill on ‘minimal oil’
Corcel plc said that initial drilling and testing had been suspended of its onshore TO-13 well in Angola following “inconclusive results”. POTENTIAL “After several weeks of well testing and engineering efforts the well has produced minimal levels of water and oil to date,” added the company. Operator Sonangol will turn its focus to geological and geophysical […]
Block issues bonus-incentive share options
Block Energy plc has awarded bonuses of 22,607,850 nil cost options, of which 20,945,032 are to directors or persons discharging managerial responsibilities, over ordinary shares of 0.25p each. AWARDS The awards, under the company’s performance-related bonus scheme for senior executives, are made in February for the previous year. The awards can be in cash, shares […]