Sunda Energy plc has completed the conversion of the first tranche loan notes and issued warrants for a US$1.5 million drawdown. TVRs The three investors initially subscribed on 13 May and on 16 May converted all of the outstanding balance of their loan notes into ordinary shares of 0.025 pence each, at a 15% discounted […]
Oil & Gas
Star grants 609,175 nil cost share options
Star Energy Group plc has awarded nil cost options over 609,175 ordinary shares in the company under its 2015 management retention plan. BONUSES Chief executive Ross Glover received nil cost options over 343,424 ordinary shares of nominal value 0.002 pence per share. Chief financial officer Frances Ward received 265,751. The awards, for annual bonuses over […]
Angus looks to diversify with Gulf assets
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 […]
Borders issues 500,000 shares in warrant exercise
Borders & Southern Petroleum plc has issued 500,000 new ordinary shares of one pence each following notice to exercise warrants at 1.5p per warrant share, for £7,500. TVRs Following admission, the company’s total issued share capital will comprise 878,130,245 ordinary shares, each with voting rights. Borders does not hold any ordinary shares in treasury. The company […]
United applies for Walton Morant survey
United Oil & Gas plc has submitted an application for a piston core survey on the 22,400km² Walton Morant licence, offshore Jamaica. FARM-OUT The licence contains more than 40 identified leads and prospects, of which 11 are independently estimated to hold over 2.4 billion barrels of unrisked mean prospective resources. United estimates that the exploration […]
Helium One notes rise in Jackson-2 flow rates
Helium One Global Ltd said that flow rates had increased to more than 250 thousand cubic feet per day in the Jackson-2 well at the Galactica project in Las Animas County, Colorado, USA. SAMPLES Joint venture partner Blue Star Helium drilling the well to total depth of 1,232 feet within the Upper Lyons Sandstone formation, […]