Europa Oil & Gas (Holdings) plc has agreed to swap revenue from its share of the Wressle onshore oil joint venture for US$500,000, paid upfront. RESOURCES The payment to an unnamed Canadian investment company will equal 4.5% of the gross revenues from the Wressle 1 well in North Lincolnshire. Europa said that the agreement is […]
Tag: oil and gas
Corcel directors buy 45m shares
Corcel plc directors have bought a total of 45 million ordinary shares each of £0.0001, at a price of £0.003 each in the company. HOLDINGS Chief executive officer Scott Gilbert purchased 25m ordinary shares for £75,000, which takes his total shareholding to 75.5m equal to 1.35% of the issued share capital, along with 31,490,580 options. […]
Spirit sells 46.25% stake in Cygnus to Ithaca
Spirit Energy Ltd has agreed a £215 million sale of a 46.25% interest in the Cygnus gas field, 150km east of the Lincolnshire coast in the Southern North Sea. VALUE The company will retain a 15% stake while Israeli purchaser and operator Ithaca Energy plc will hold 85%. Spirit’s 2P reserves will reduce by 19.4 million […]
Sunda completes $1.5m drawdown for Chuditch
Sunda Energy plc has completed the conversion of the first tranche loan notes and issued warrants for a US$1.5 million drawdown. TVRs The three investors initially subscribed on 13 May and on 16 May converted all of the outstanding balance of their loan notes into ordinary shares of 0.025 pence each, at a 15% discounted […]
Star grants 609,175 nil cost share options
Star Energy Group plc has awarded nil cost options over 609,175 ordinary shares in the company under its 2015 management retention plan. BONUSES Chief executive Ross Glover received nil cost options over 343,424 ordinary shares of nominal value 0.002 pence per share. Chief financial officer Frances Ward received 265,751. The awards, for annual bonuses over […]
Angus looks to diversify with Gulf assets
Angus Energy plc has signed a tentative deal to diversify and expand its footprint to the Gulf of Mexico (Gulf of America) in a reverse takeover. STABILITY The non-binding agreement to buy a “group of producing assets” results in the company’s shares’ suspension today from trading under AIM rules. Angus said that the potential acquisition […]