Angus Energy plc has raised £675,000 through placing 61,363,634 ordinary shares to certain investors at a price of 1.1 pence per share. PROCEEDS The issue of shares represents less than 5% of the enlarged capital of the group. Net proceeds of the placement will go towards working capital and general costs. Angus said that following admission, the total number […]
Tag: oil and gas
United exits Italy with sale of Selva to Prospex
United Oil & Gas plc said it had completed the sale of its assets in the Podere Gallina licence containing the Selva gas development project in Italy. APPROVAL The company sold its 100% share capital of UOG Italia Srl to PXOG Marshall Ltd, a subsidiary of Prospex Energy plc for €2,164,701 following final approvals from the […]
Angus ends sale process ahead of Saltfleetby first gas
Angus Energy plc said it had ended the formal sales process for the company following its increased share price and a “strongly supportive” economy. SOUND ENERGY The company had been approached by Sound Energy plc, which today confirmed it did not intend to make an offer. “After lengthy discussions on a possible combination with Sound, […]
Block looks at financing options following ‘robust’ Q1
Block Energy plc said it was looking at “non-dilutive financing options” to accelerate production at its gas and oil operations in Georgia. PRODUCTION The company included the news in its report for the three months ended 31 March 2022. Production was 46.1 Mboe (Q4 2020: 34.6 Mboe), comprising 32.1 Mbbls of oil (Q4: 24.9 Mbbls) and 14.0 Mboe of gas (Q4: 9.7 Mboe). […]
IGas welcomes review on shale gas extraction
IGas plc said it welcomed the Government’s call for a scientific review of shale gas extraction by the British Geological Survey. OPPORTUNITY The department for business, energy and industrial strategy (BEIS) today announced it had commissioned a scientific review, with a report expected by the end of June 2022. IGas chief executive Stephen Bowler said […]
IOG needs further studies at shut-in Blythe well
IOG plc said it needed to conduct further processes and safety studies before reopening the shut-in Blythe well at its Saturn Banks project in the Southern North Sea. WORKSTREAMS The company and its offshore duty holder ODE Asset Management (ODEAM) are investigating the chemical injection fault on the Blythe platform which led to the Blythe […]