UK Oil & Gas plc posted a fall in revenue following a decrease in oil production from Horse Hill within PEDL137 and PEDL246 near Gatwick Airport, Surrey. LICENCE Results from six months to 31 March, showed revenue fall to £600,000 while group operating loss decreased to £1 million compared with £1.3m for six months to […]
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Orcadian secures new debt repayment date
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 […]
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 […]
Anglesey Mining raises £415,000
Anglesey Mining plc has raised £415,000 via a placing of 32.5 million ordinary shares with certain institutional and other investors and a subscription of 9m ordinary shares, all at 1 pence per share. Net proceeds will go towards developmental work at Parys Mountain, advancing development options at Grängesberg iron ore mine, debt repayment and general […]
Altona conditionally raises £1.29m
Altona Rare Earths plc has conditionally raised £1,290,000 via a subscription and two loans to progress its African projects. PROSPECTUS The 1.2% discounted subscription for 39,000,000 new ordinary shares of 1 pence each in the company raised £390,000. Altona additionally secured two loans of £600,000 and £300,000. Of the combined amount raised, private investor Tracarta […]