Egdon Resources plc has agreed to be sold for £26.64 million cash to its majority shareholder Petrichor Partners LP which plans to delist the company. TERMS Petrichor is a wholly owned subsidiary of Heyco Energy Group Inc. The parent company of Heyco Energy Group Inc and Petrichor is Explorers Petroleum Corp, controlled by George Yates […]
Tag: acquisition
Corcel exercises option to acquire Canegrass lithium
Corcel plc has exercised its option to acquire the Canegrass lithium project in Western Australia. LOW COST The company signed a 30-day option period in February and, as agreed, will now issue vendor Huntsman Exploration Inc with 50,000,000 new ordinary shares at £0.004, equating to a total £200,000. “Building upon our recent acquisition and farm-out […]
EnQuest completes 26.69% purchase in Golden Eagle
EnQuest plc has completed its purchase of a 26.69% non-operated interest in the Golden Eagle area development in the North Sea. PARTNERS The project includes the Golden Eagle and Peregrine fields in blocks 20/1, 20/1N and 14/26a, located 110km northeast of Aberdeen. “As a highly cash generative asset, delivering material incremental production, reserves and resources, […]
Chesterfield to acquire Adeline copper project
Chesterfield Resources plc announced it is to acquire 100% of a belt-scale copper exploration project, named Adeline, in the Labrador region of eastern Canada. The company, which is exploring for copper in Cyprus, said its objective was to be a leading copper exploration and resource development company to help supply the global demand for electrification. Adeline covers […]
Cairn to acquire onshore Egypt assets
Cairn Energy plc and partner Cheiron Petroleum Corp hope to purchase a portfolio of upstream oil and gas assets for US$646 million ($323m net to Cairn) in the Western Desert, onshore Egypt. The acquisition of hydrocarbon production, development and exploration interests from Shell Egypt NV and Shell Austria GmbH (Shell) will have an additional contingent […]
Power Metal acquires further Ontario gold properties
Power Metal Resources plc has exercised its options to buy two further properties on the Schreiber-Hemlo greenstone belt in north-western Ontario, Canada. OPTION The Magical and Enable properties are the final two of four gold exploration properties on which the company signed an exclusive option to acquire a 100% interest. The move follows the company’s […]