Angus Energy plc has signed a non-binding conditional agreement for an 18-month loan of up to US$25 million with Aleph Commodities Ltd. If both parties proceed, the funds will refinance the £7.35m outstanding under the senior facility and the £3m and £6m bridge loans. The company is also in discussions with another financial provider for […]
Author: editorial
Horizonte awards 2.4m share options
Horizonte Minerals plc awarded more than 2,435,035 ordinary share options of £0.20p each to key employees and senior executives under its unapproved 2006 share options scheme. DIRECTORS Each option has an exercise price of £1.70 per ordinary share, representing a premium of 10.4% the closing price on 12 July 2023 of £1.54. Chief executive officer Jeremy […]
Angus chairman George Lucan steps down
Angus Energy plc executive chairman and former chief executive officer George Lucan has stepped down from his post and aims to leave the board in mid-August. The announcement, effective on 14 July, came with agreement of the £6 million loan arranged by Aleph Commodities Ltd. Mr Lucan said that completion of the financing was an […]
CRL to re-apply for grant following refusal
Cornwall Resources Ltd will reapply for grant funding after its submission was refused as the company also considers American backing to develop the Redmoor tin-tungsten project. SOURCES Cornwall and Isle of Scilly Council, due to respond in June, rejected the company’s bid to the Shared Prosperity Fund. The new modified application, based on feedback from the […]
Tullow starts production at Jubilee South East
Tullow Oil plc has started production from the first well at the $1 billion Jubilee South East (JSE) joint venture in the Tano basin, offshore Ghana. FUTURE In 2023, partners Kosmos Energy, Ghana National Petroleum Corporation, Petro SA and Jubilee Oil Holdings aim to bring on stream a further two producers and one water injector for […]
Predator identifies 64m likely gas sands for rigless testing
Predator Oil & Gas Holdings plc highlighted a total 64 metres of likely gas sands, including a likely gas reservoir, in the MOU-4 well due for rigless testing at Guercif, onshore Morocco. INTERVALS Results from NuTech‘s wireline log analysis and reservoir characterisation show from 519 to 713 metres TVD MD including the M1 sands with […]