Kavango Resources plc’s £6 million fundraise will be via direct subscription by current shareholder Purebond Ltd, potentially increasing its holding to more than 50%. TERMS The subscription in two stages will be for the conditional issue of 140 million new ordinary shares of £0.001 each at 1p per share, and 460m new ordinary shares for […]
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EnQuest to increase Seligi gas field production
EnQuest plc has agreed to increase gas production from the Seligi field until the end of 2025 to support Peninsular Malaysia’s gas demand. SELIGI The group became operator of Seligi in 2014 and brought its first horizontal well on stream in June 2022. ASSESSMENT The agreement, on behalf of the PM8 (extension) production sharing contract […]
Reabold expands into Italy with Colle Santo deal
Reabold Resources plc has entered into a conditional agreement to acquire an interest in the Colle Santo gas field in the Abruzzo region, onshore Italy. TERMS The investor purchased an initial 32 shares representing a 3.1% interest for £250,000 in LNEnergy Ltd which holds an option over a 90% interest in the field. The subscription […]
Power Metal raises £2.7m via placing-subscription
Power Metal Resources plc has raised £2.715 million via a placing, including a subscription by Term Oil Inc which is controlled by American investor Rick Rule. DIRECTOR DEALING The company has conditionally issued 319,388,235 new ordinary shares of 0.1 pence each in at a price of 0.85 pence per placing share. Each placing share has an attached warrant to […]
Tullow publishes 2022 sustainability-climate reports
Tullow Oil plc has published its sustainability report and climate risk and resilience report for 2022. ESGs During the year, the company achieved zero lost time injuries and zero Tier-1 process safety incidents. Tullow increased its socio-economic contributions through more than 6,000 secondary and tertiary students with Tullow STEM scholarships, bursaries and after school support […]
New Ballarat confirms ‘extensive gold’ from Berringa drill
New Ballarat Gold Corporation (NBGC) reported “extensive gold confirmed” from diamond drill results at the Berringa gold mine joint venture (JV) project in Victoria, Australia. POTENTIAL Partners comprise Red Rock Resources plc (51.1%) and Power Metal Resources plc (49.9%). The limited 988m inaugural drill programme of six holes aimed to test three potential sites of South […]