Angus Energy plc has reduced its debt to Trafigura from around £26 million to £22.7m after making its first ‘cash sweep’, following its financial restructuring agreed in June of this year. The company, which owns the Saltfleetby gas field in East Lincolnshire, has repaid in full the £1.95m overriding royalty interest (ORRI), and made a […]
Tag: oil and gas
Serica stands firm on Pharos offer after rival raises bid
Serica Energy plc has said it will not increase its £145.7 million offer for Pharos Energy plc after a rival potential buyer raised its own bid. The offer, made at the end of July 2026, would expand the UK North Sea-focused company’s footprint to Egypt and Vietnam. Pharos’ initial suitor, Israel-based Ratio Petroleum Energy LP, […]
Harbour begins $250m share buyback
Harbour Energy plc today started to buy back its own ordinary shares for up to a maximum aggregate value of $250 million (£185.6m). The company announced the news in its 2026 half year results, which showed “excellent” operational performance and record production of more than 500,000 barrels per day. Outlook for its free cash flow […]
Beacon chairman increases shareholding
Beacon Energy plc non-executive chairman and director Mark Rollins has increased his stake in the company after buying 343,810 ordinary shares. Mr Rollins acquired the shares, of no par value, on 5 August 2026 at a price of 2.9 pence per share. He now holds 9,423,507 ordinary shares, representing approximately 7.55% of Beacon’s issued share […]
Union Jack £6.14m sale draws more objections
Union Jack Oil plc’s proposed £6.14 million sale to investor Reabold Resources plc has received further objections from some of its shareholders. GENERAL MEETING The exploration and production company warned that, unless it met its financial obligations, it could lose assets if the transaction fails to complete. On 3 August, Reabold received a letter of […]
Europa secures more time for EG-08 farm-out
Europa Oil & Gas (Holdings) plc has secured more time to complete the farm-out agreement for the EG-08 production sharing contract, offshore Equatorial Guinea. Located in the shallow waters of the Douala Basin, the licence contains three “high-graded” prospects across 731 km2. Europa states that the combined volumes are estimated at mean prospective resources of […]