Union Jack Oil plc has accused a proposed director of the company of “opportunistically trying to gain control of the company” and to remove serving directors. ‘CAMPAIGN’ Craig Howie, initially appointed in April 2024 as a non-executive director, left on 12 January 2026, by a board resolution. Mr Howie is reported to have sent a letter to […]
Tag: oil & gas
Sunda raises £6.7m to diversify into New Zealand
Sunda Energy plc has conditionally raised up to £6.7 million to buy production and exploration permits, onshore Taranaki Basin on the west coast of New Zealand’s North Island. TVRs The fundraise involved Alumni Capital’s firm subscription which raised £900,000 at 0.02975 pence per share Alumni Capital also provided a convertible loan note for £4,250,000, conditional […]
Hurricane Energy profits surge and debt clears
Hurricane Energy plc recorded a surge in post-tax profits from a “challenging and highly successful” year at its Lancaster field operations, west of Shetland. FINANCES Full-year results for the year ended 31 December 2022 showed company revenues increased to $310.8 million from six liftings of Lancaster crude (2021: $240.5m from seven liftings). Profit after tax for the period amounted to […]
Prospex Energy raises £1.87m through loan notes
Prospex Energy plc has raised £1.87 million via the issue of unsecured convertible loan notes to further the Selva gas discovery (37%) on the Podere Gallina permit in the Po Valley, Italy. TERMS A total of 27 individual subscribers include all four current directors and one former director of the company. The loan notes are […]
Hurricane clears final debts and looks to growth
Hurricane Energy plc has paid in full its outstanding debt of $78,515,000 of convertible bonds plus $1.5 million accrued interest. OIL PRICES Chief executive Antony Maris described the repayment as a key milestone as the company moves into a new phase focused on building a long-term future. “The excellent operational performance of the Lancaster field, […]
UKOG granted additional year for Horse Hill work programme
UK Oil & Gas plc (UKOG) said it had been granted a one-year extension to the agreed retention area work programme at Horse Hill oil field and its underlying Kimmeridge oil pool. DEADLINE The North Sea Transition Authority granted the extension for PEDL137 licence, allowing the company to drill a second Horse Hill Kimmeridge well, […]