Hartshead Resources NL has agreed an option to sell a further 20% in its licence P2607, in return for an uncapped free carry of gross costs for phase I project development. DE-RISKING The Australian company completed the original 60% farm-out deal in May with Viaro Energy Ltd’s subsidiary, RockRose Energy Ltd. Three months later it […]
Author: editorial
Hartshead appoints Bevan Tarratt as chairman
Hartshead Resources NL has appointed non-executive chairman Bevan Tarratt as executive chairman, effective from 1 December. Mr Tarratt, who will be paid £1,000 per day exclusive of superannuation, has a background in corporate and financial services industries having worked for accounting and corporate broking firms for the past 15 years. Experienced in the recapitalisation, restructuring […]
Arkle to drill gold-bearing outcrop at Inishowen
Arkle Resources plc is this week due to start a four-hole drilling programme on the 46km2 gold licence in Inishowen, County Donegal. CONTINUITY The company will follow up work completed at the Meeneragh target and aim to test the main gold-bearing outcrop. Drilling, from two drill pads at -45 and -70 degrees, will focus on […]
Predator awards 2.7m bonus shares to chairman and COO
Predator Oil & Gas (Holdings) plc issued 2,659, 574 shares under the executive directors bonus scheme in recognition of the drilling programme and results onshore Morocco. Executive chairman Paul Griffiths and chief operating officer Lonny Baumgardner each received 1,329,787 1,329,787 shares. The amount, comprising 50% of the executive directors’ overall bonus related to the drilling […]
Ascent creates SPV to distribute claim proceeds
Ascent Resources plc is creating a special purpose vehicle to distribute an entitlement to the economic interest in 49% of any net proceeds if its claim against Slovenia is successful. MEETING The company and its subsidiary Ascent Slovenia Ltd are engaged in arbitration over breaches of the Energy Charter Treaty relating to the Petišovci onshore gas […]
Orcadian secures more time for Pilot farm-out
Orcadian Energy plc has given its potential partner a further seven days to sign a definitive deal for the 81.25% farm-out of the Pilot oil licence. NSTA The original deadline of 30 November to complete the transaction for P2244 must be signed by 7 December or the company’s interest in the conditional two-year licence will […]