Red Rock Resources plc said it continued to rationalise parts of its portfolio to generate cash as the company recorded an increase in six-month losses. PRIORITIES Chairman Andrew Bell said that the company would focus on early gold production and other “immediate cash flow operations”. Medium or long-term projects will be prioritised for short- term […]
Tag: oil and gas
Tungsten West raises £1.6m via CLNs
Tungsten West plc raised £1.6 million by adding an additional tranche to the existing 2023 convertible loan notes. The company said that the CLN had been amended and restated to include a tranche D on substantially the same terms as the CLN tranches of A, B in May 2023 and C in December 2023. The […]
EnQuest appoints Rosalind Kainyah to the board
EnQuest plc has appointed Rosalind Kainyah MBE to the board of directors effective from 30 May 2024, among a several management changes. Ms Kainyah’s appointment is subject to shareholder approval at the general meeting on the same date, along with that of chief financial officer Jonathan Copus as an executive director. On joining EnQuest she […]
Dunrobin-Golspie licence to be surrendered
Baron Oil plc said that North Sea licence P2478, containing the Dunrobin and Golspie prospects, will be surrendered due to delays acquiring 3D seismic data. EFFORTS The news comes eight months after licence administrator Reabold Resources plc was granted a further two years subject to acquisition of a minimum 30km2 of 3D seismic data. Baron holds […]
Tullow NED buys 200,000 shares
Tullow Oil plc non-executive director Roald Goethe has bought 200,000 ordinary shares of 10p each in the company. Two 50,000 purchases, at an average price of £0.31 per share to total £31,395, took place on 25 March via the London Stock Exchange. A further two 50,000 purchases, for the approximate same price per share for […]
Prospex settles third CLNs repayment
Prospex Energy plc has settled the third and final capital repayment plus accrued interest from the September 2022 convertible loan notes of a total £500,000 value. GROWTH Using accumulated cash within the company, a total of £175,239.83 has been paid to the three CLN holders. Chief executive Mark Routh said that Prospex was now completely […]