Capricorn Energy plc has reduced general and administrative costs by an initial $35 million as it continues to focus more on its assets in Egypt. DIVESTMENTS Chief executive officer Randy Neely added at today’s general meeting that the company would pursue “further meaningful cost savings.” The cost-cutting measures also extend to Capricorn’s assets outside Egypt, […]
Author: editorial
Kavango signs first Zimbabwe gold option
Kavango Resources plc has signed an exclusive two-year option to acquire a producing gold exploration project in Matabeleland, southern Zimbabwe. MINES AND TAILINGS The Nara project comprises 45 contiguous gold claims, each of 10 hectares, and covers four historic mines. Total recorded historic production, between the early 1900s and early 1960s, from underground workings amount […]
Tullow Oil notes further 450,000 shares purchase
Tullow Oil plc reported a further purchase of 450,000 ordinary shares of 10 pence each in the company. On 22 June 2023, Birgitte Goethe, a person closely associated with non-executive director Roald Goethe, bought the shares in three tranches of 150,000 at an average price of £0.294 pence per share, for a total £132,220.50.
FCM raises £1m via discounted subscription and warrant exercise
First Class Metals plc has received more than £1 million from an oversubscribed discounted fundraise and a warrant exercise. PLACING & SUBSCRIPTION The company placed 9,599,000 ordinary shares and held a subscription of 375,000 ordinary shares, each of £0.001 par value, at a price of 10 pence per share. Every two placing and subscription share […]
IOG pauses project drilling to maximise cash
IOG plc has solved the restriction in the Blythe H2 development well and paused appraisal drilling at the Saturn Banks project to maximise production and near-term cash flow. OPERATING EFFICIENCY Over the weekend, the company verified the downhole blockage in the gas well at the expected depth and fully opened the valve. Following the change […]
EnQuest pays total £163.8 million to governments
EnQuest plc paid an aggregate £163.8 million to governments for the year ended 31 December 2022. JURISDICTIONS The group paid £39.2 million in the UK and £124.6m in Malaysia. Payments include production entitlements, taxes, royalties and fees for its oil and gas assets in both jurisdictions.