Angus Energy plc has signed a tentative deal to diversify and expand its footprint to the Gulf of Mexico (Gulf of America) in a reverse takeover. STABILITY The non-binding agreement for the purchase a “group of producing assets” results in the company’s shares’ suspension from trading under AIM rules. Angus said that the potential acquisition […]
Finance
Red Rock issues 57m shares for cash advances
Red Rock Resources plc has issued 57,142,856 new ordinary shares of 0.01 pence each in the company at a subscription price of 0.035 pence per share, with 57,142,856 attached warrants, to convert cash advances. TVRs A total of 14,285,714 warrants expire will expire on 9 March 2028 and 42,857,142 warrants on 18 May 2028, exercisable at a […]
Conroy raises €240,000 via CLNs
Conroy Gold and Natural Resources plc has raised €240,000 (£203,400) through the issue of unsecured and unlisted convertible loan notes to existing and new investors in the company. CLONTIBRET The conversion price for the CLNs is £0.10 per share, a 277% premium to the closing mid-market price of 2.65 pence for Conroy’s ordinary shares of […]
Tungsten West draws £900,000 via CLNs
Tungsten West plc has received £900,000 after meeting the conditions of the amended convertible loan notes terms announced in January this year. FEASIBILITY STUDY Proceeds of the tranche G CLNs will be used to continue work on studies to build a “robust” plan and economic model, most of which is complete. The company will publish […]
Reabold nears 50% stake in Colle Santo
Reabold Resources plc now holds 45.1% in the Colle Santo gas field after converting £500,000 of outstanding convertible loan notes into 374 ordinary shares in the project’s majority owner. RESERVES The conversion was at an average price of £1,350 per share in LNEnergy Limited (LNE). LNE manages and owns 100% of Italian company LNE Srl, […]
Capricorn JV to integrate Egypt concessions
Capricorn Energy plc is closer to integrating eight of its existing joint venture Egyptian Western Desert concessions into a new, single concession with improved commercial and development terms. PRODUCTION The Egyptian General Petroleum Corporation (EGPC) granted consent to the company and its partner Cheiron Oil and Gas Ltd, each holding 50%. The new concession agreement […]