Serica Energy plc has rejected a new revised cash and share merger offer from Kistos plc for its assets in the North Sea. OFFER Two weeks ago, the exploration and production company rejected the smaller company’s first offer. Kistos revised proposal offers 425 pence per Serica share and is an 11% increase to Serica shareholders […]
Author: editorial
Kavango concept report confirms economic viability of GRS in KSZ
Kavango Resources plc said that a concept report confirmed the economic viability of the iron oxide copper-gold (IOCG) target at the Great Red Spot (GRS) in the northern (Hukuntsi) section of the Kalahari Suture Zone KSZ), Botswana. IOCG SYSTEMS The exploration company added that the IOCG target exhibited similar geophysical signatures to the Olympic Dam […]
Hurricane clears final debts and looks to growth
Hurricane Energy plc has paid in full its outstanding debt of $78,515,000 of convertible bonds plus $1.5 million accrued interest. OIL PRICES Chief executive Antony Maris described the repayment as a key milestone as the company moves into a new phase focused on building a long-term future. “The excellent operational performance of the Lancaster field, […]
Government pushes UK to be skills leader in exploration and mining
The UK could once more be a skills leader in exploration and mining as well as a leading player in the global race for critical minerals, said the Government today. UK CRITICAL MINERALS STRATEGY Business secretary Kwasi Kwarteng was speaking as he announced the UK’s first ever critical minerals strategy. The policy paper ‘Resilience for […]
Power Metal receives £139,115 via warrant exercise
Power Metal Resources plc received £139,115 following notices to exercise warrants over 18,548,700 new ordinary shares of 0.1 pence each in the company. The warrant shares exercised at a price of 0.75p each. Following admission, the company’s issued share capital will comprise 1,531,808,465 ordinary shares of 0.1p each.
Serica Energy quadruples production from Bruce
Serica Energy plc has quadrupled production from its 24-year-old well in the Bruce field while the Columbus well reached one million barrels of oil equivalent this month. BRUCE In an operations report, the company said that following Serica’s first light well intervention vessel (LWIV) campaign, the initial well (Bruce M1) was re-entered for the first […]