Serica Energy plc has exited its offer to buy Pharos Energy plc after the Pharos board withdrew its recommendation of acceptance in favour of a third party’s higher bid. Serica’s £145.7m offer at the end of July followed Israel-based Ratio Petroleum Energy LP’s bid of £124.3m, which it subsequently increased to £146.4m. The UK North […]
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Sunrise granted prospecting licence for Baker’s gold
Sunrise Resources plc has been granted a four-year prospecting licence for its Baker’s high-grade gold project, five years after first drilling at the site in the Murchison gold field, Western Australia. The term for licence P51/3378, located within the Meekatharra District, ends on 6 August 2030 and is renewable for a further four years. In […]
Capricorn’s potential rival buyers withdraw
Capricorn Energy plc’s two potential rival purchasers today said they did not intend to make an offer for the Edinburgh-based company. Samos Energy and Alamadiyaf al-Masiyyah for Trading Company Ltd had until 5pm on 11 August 2026 to announce their intentions, in accordance with the Takeover Code. Each company added that it reserved the right […]
Angus reduces Trafigura debt with first cash sweep
Angus Energy plc has reduced its debt to Trafigura from around £26 million to £22.7m after making its first ‘cash sweep’, following its financial restructuring agreed in June of this year. The company, which owns the Saltfleetby gas field in East Lincolnshire, has repaid in full the £1.95m overriding royalty interest (ORRI), and made a […]
Conroy increases fundraise to £1.3m
Conroy Gold and Natural Resources plc has increased its £800,000 fundraise to £1.3 million after receiving more interest than expected, mainly from long-term investors in North America. The company, which is exploring for metals in Ireland and diamonds in Finland, held a non-brokered private placement at a price of eight pence per ordinary share of […]
Serica stands firm on Pharos offer after rival raises bid
Serica Energy plc has said it will not increase its £145.7 million offer for Pharos Energy plc after a rival potential buyer raised its own bid. The offer, made at the end of July 2026, would expand the UK North Sea-focused company’s footprint to Egypt and Vietnam. Pharos’ initial suitor, Israel-based Ratio Petroleum Energy LP, […]