Egdon Resources plc’s sale to Petrichor Partners LP has progressed following satisfaction of the oil and gas regulator’s condition. TIMETABLE The purchaser has confirmed receipt of the North Sea Transition Authority’s ‘comfort letter’ in relation to the acquisition, said Egdon today. Following the satisfaction or waiver of other conditions, the sanction hearing is expected to […]
Author: editorial
EnQuest agrees second lien loan of up to $150m
EnQuest plc has agreed a loan of up to $150 million, including $9m from its chief executive officer’s family, as a secured second lien instrument. DOUBLE A Mature in July 2027, the loan ranks junior to the group’s existing $500m reserve based lending facility (RBL) of which the company had drawn $240m as at 31 […]
Ormonde shareholders back TRU investment
Ormonde Mining plc has received shareholder approval to invest an initial 36.2% controlling interest in TRU Precious Metals Corp, exploring for gold and copper in Newfoundland. AQSE The Dublin-based company will focus on TRU’s Golden Rose project as well as evaluation of other mineral property opportunities. Ormonde retains its 20% interest in Peak Nickel Ltd […]
Corcel notes start of preparations for Angola drilling
Corcel plc said preparations had started for drilling and appraisal at its recently acquired oil interest KON-11 in the Kwanza basin, onshore Angola. TOBIAS FIELD In May, the company acquired a 20% working interest 18% net to Corcel the non-operated block which holds 12 historical wells. The operator is Angolan national oil company, Sonangol. KON-11 is […]
Harbour swings to $8m loss
Harbour Energy plc swung to loss during the first six months of the year following high taxes and falling commodity prices. FINANCES Results for H1 2023 show profit before tax of $0.4 billion (H1 2022: $1.5bn) and loss after tax of $8 million (H1 2022: profit of $1bn). Revenue decreased to $1,991 million (H1 2022: […]
Deltic grants 2m share options
Deltic Energy plc has granted options over a total of 2,025,000 ordinary shares in the company to its directors, senior management and employees. INCENTIVES The options each have an exercise price of 28.25 pence, being the closing mid-market price of an ordinary share on 23 August 2023. The grant of options is a mixture of […]