Rockhopper Exploration plc plans to raise up to US$140 million (£105m) from “new Israeli-based institutional investors” and “larger existing shareholders” for its share of the Sea Lion oil project’s first phase development. PLACINGS The company holds 35% of the North Falkland Basin field and needs $127m for phase I. Rockhopper has received “firm commitments” for […]
Tag: arbitration award
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 […]
Red Rock talks on DRC award affected by unrest
Red Rock Resources plc said it remained confident of reaching a settlement on its arbitration award in the Democratic Republic of Congo despite unrest in the country. PRIORITY The company was due to meet its local partner this week to try to reach an agreement. However “military developments” in the east of the country and […]
Red Rock to conclude DRC arbitration award
Red Rock Resources plc expects to conclude and have payments arranged next week at a working meeting of parties involved in the arbitration award in the Democratic Republic of Congo. The company said it met various parties in Kinshasa over the Christmas and New Year period to discuss the award. The working meeting will be on […]
Red Rock discusses new DRC opportunities
Red Rock Resources plc has attended a “series of important meetings” on new business opportunities in the Democratic Republic of Congo. DISCUSSIONS The company said it had also signed a framework agreement with its local associate Koto DRC SARL for an equal new joint venture, conditional on acquiring suitable assets. Red Rock expects to return […]
Red Rock aims to finalise DRC arbitration award
Red Rock Resources plc aims to finalise its $10 million arbitration award either this week or next in the Democratic Republic of Congo. PROGRESS The company said it expected an initial $2.5 million from its local partner with $7.5m pending. The figures represent 50.1% of what was received by its partner from the buyer and […]