Borders & Southern Petroleum plc has raised £2.5 million before expenses through a firm placing and a conditional placing and conditional subscription. ISSUE PRICE Subject to the shareholder approval, the company will issue 142,857,138 new ordinary shares each at 1.75 pence, an approximate 44% discount to its closing price of 3.15 pence on 30 November […]
Tag: Falkland Islands
Rockhopper raises £5.75m via placing and subscription
Rockhopper Exploration plc has raised US$7 million (£5.75m) through a placing and subscription. DISCOUNT The company placed 82,182,776 units each at the issue price of 7 pence, which is a 12.5% discount to the closing price on 14 June 2022. Each unit comprises one new ordinary share and, for every two new ordinary shares subscribed for, […]
Borders mulls further fundraise
Borders & Southern Petroleum plc said it might need to raise additional funds before mid-2023 if it fails to find a farm-out partner for its oil and gas licences offshore Falkland Islands. FINANCES The company’s decision was included in its audited results for 12 months ended 31 December 2021, which showed its cash balance fell […]
Borders to raise $1.8m for Falkland licences
Borders & Southern plc said it planned to raise US$1.8 million (£1.35m) to appraise and develop its Darwin gas-condensate discovery off the Falkland Islands. FUNDRAISING The money will also be used for general working capital. The company added it intended to raise $600,000 (£450,000) in a subscription solely involving chairman Harry Dobson for 34,702,000 new […]
Rockhopper signs Falklands deal with Navitas
Rockhopper Exploration plc has signed detailed heads of terms for Harbour Energy plc to exit the Falklands Islands and for Navitas Petroleum LP to farm-in. PARTNERS Harbour will sell its interests leaving Rockhopper with 35% and Navitas 65% compared with 30% each previously. Rockhopper and Navitas, the planned operator, will align working interests across their Falkland […]
Borders seeks further funds for Falklands licences
Borders & Southern Petroleum plc said it would likely seek additional funds by the end of January 2022 for its hydrocarbon project in the Falkland Islands. FINANCES In its unaudited half year financial statements to 30 June 2021, the company’s cash balance decreased to $1.35 million (30 June 2020: $2.56m). Operating loss for the period was […]