Europa Oil & Gas (Holdings) plc saw revenue more than quadruple and onshore oil production increase by 183% mainly from its share in the Wressle joint venture in the East Riding of Yorkshire. FINANCES The company’s final results for the year to 31 July 2022 showed revenues of £6.6 million (2021: £1.4m), and pre-tax profit […]
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NSTA investigates suspected breach of licence condition
The North Sea Transition Authority (NSTA) is investigating an operator suspected of breaching one of its licence conditions. OBLIGATIONS The regulator will assess whether the licensee conducted a well test – intended to gauge whether or not the reservoir can produce oil or gas – without consent and failed to provide timely notification of the […]
Arkle raises £200,000 via placing
Arkle Resources plc has raised £200,000 before expenses through a placing of 50,000,000 new ordinary shares at 0.4p per share. Each placing share has one warrant attached with the right to subscribe for one new ordinary share at 0.5p for a period of two years. DIRECTORS’ DEALINGS Chairman John Teeling and non-executive director David Cockbill […]
Ascent awards 4.6m share options to employees and PDMRs
Ascent Resources plc has awarded 4.6 million options over ordinary shares to certain employees and persons discharging managerial responsibilities (PDMRs). PDMRs The performance vesting criteria for the options is the execution of a cash-generating ESG metals transaction consistent with the company’s strategy, said Ascent. Executive chairman James Parsons and chief executive officer Andrew Dennan each […]
Prospex partner might exit El Romeral
Prospex Energy plc said its partner could exit their Spanish onshore gas joint venture in a proposed merger with a third company. PROPOSAL Prospex and Warrego Energy Ltd are co-owners in Tarba Energía S.L which owns and operates the El Romeral gas-to-power plant. Tarba also owns related gas concessions near Carmona in Andalucía and the […]
Alba conditionally raises £500,000 via placing
Alba Mineral Resources plc has raised £500,000 before expenses through the issue of 500 million new ordinary shares at a price of 0.1 pence per ordinary share. Each subscriber in the discounted placing will receive one warrant for every two subscribed shares, for a total of 250 million warrants. The warrants will have an exercise price of 0.2 pence per share and […]