Independent Oil and Gas plc (IOG) swung to a loss as the company’s cash balance fell and the group recorded a net debt. In its final audited results for the year ended 31 December 2020, the company reported post tax losses of £19.3 million compared with a 2019 profit of £15m generated by the CalEnergy […]
Tag: oil and gas
JOG raises £15m via placing and subscription
Jersey Oil & Gas plc announced it had raised £15 million from an oversubscribed placing by way of an accelerated bookbuild. DIRECTOR DEALINGS The funds were raised through the placing of 9,054,548 new ordinary shares (placing shares) and a subscription for 36,361 new ordinary shares (subscription shares) at an issue price of 165 pence per share. Director Role […]
Union Jack ventures into North Sea
Union Jack Oil plc has acquired its first interests in the North Sea with a 2.5% cash generating royalty interest for $130,000 (£93,730) in the Claymore, Piper and Scapa oil fields. THREE FIELDS The acquisition from Cambridge Petroleum Royalties Ltd is a part of the royalty unit over 20% of the revenues from oil and […]
Predator raises £1.8m via placing
Predator Oil & Gas Holdings plc announced it has raised £1.785 million before expenses after conditionally placing 17 million new ordinary shares of no par value in the company at a placing price of 10.5 pence each. The placing was significantly oversubscribed and utilises much of the company’s existing headroom shares under the Financial Conduct Authority restrictions for […]
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 […]
Cairn to sell Catcher-Kraken interests
Cairn Energy plc has agreed to sell its North Sea interests in the Catcher and Kraken fields for US$460 million to Norwegian company Waldorf Production Ltd. GOALS The agreement includes additional contingent consideration dependent on oil prices from 2021 to the end of 2025. The sale, subject to shareholder approval, involves Cairn’s interest of 20% […]