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Pin to quick picksCabot Energy Share News (CAB)

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Cabot Energy tumbles ahead of proposed fundraising

Fri, 01st Feb 2019 09:12

(Sharecast News) - Oil and gas outfit Cabot Energy is in the process of wrapping up discussions with High Power Petroleum and other significant shareholders regarding an equity fundraising of roughly $3m.Cabot plans to use funds raised to settle its overdue Canadian trade creditors and certain creditors in the UK, as well as providing short-term working capital in the first quarter of its trading year.The AIM-listed firm said it was "confident" that a minimum of $700,000 in discounts to its overdue payment could be secured, representing approximately 17% of its total Canadian debt.Looking forward, Cabot believes cash balance of $500,000 will be "sufficient to maintain operations until the receipt of the proceeds of subscription funds in February."Cabot also noted that it would look to the market again early in the second quarter to seek further debt and equity funding.Cabot said: "The directors are reasonably optimistic that the company can raise debt and additional equity funding from existing and new shareholders, as it has done in the past, but it is not wholly within the company's control and as such represents a material financial uncertainty.""Failure to complete a first fundraising in February 2019 would cast significant doubt upon the group's continued ability to operate as a going concern."As of 0910 GMT, Cabot shares had tumbled 13.68% to 0.41p.
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2 Dec 2019 14:25

Cabot Energy To Depart London's AIM Market Amid Investment Struggle

Cabot Energy To Depart London's AIM Market Amid Investment Struggle

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15 Nov 2019 14:32

Cabot Energy Appoints David Kimery As Canadian Chief Executive Officer

Cabot Energy Appoints David Kimery As Canadian Chief Executive Officer

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29 Oct 2019 10:38

UK WINNERS & LOSERS SUMMARY: BP Shares Head Lower After Tough Quarter

UK WINNERS & LOSERS SUMMARY: BP Shares Head Lower After Tough Quarter

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29 Oct 2019 09:57

Cabot Energy To Leave AIM Amid Struggle To Attract Investment

Cabot Energy To Leave AIM Amid Struggle To Attract Investment

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1 Oct 2019 15:12

Cabot Energy Loss Narrows On Cost Controls, Seeks Further Funding

Cabot Energy Loss Narrows On Cost Controls, Seeks Further Funding

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26 Sep 2019 13:51

Cabot Ends Participation In Italian Licence To Focus Elsewhere

Cabot Ends Participation In Italian Licence To Focus Elsewhere

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20 Aug 2019 08:30

Cabot Energy shares slide as production and sales dive

(Sharecast News) - Cabot Energy's shares slid on Tuesday after it reported a steep decline in second quarter production and sales as cost-cutting efforts took their toll on operations.

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25 Jun 2019 09:49

Cabot Energy updates investors on 'important year of transition'

(Sharecast News) - Oil and gas company Cabot Energy's interim chairman James Dewar told investors at the group's annual general meeting on Tuesday that 2018 had been "an important year of transition", which included the appointment of a new management team and board, but noted that no new funding commitments had yet been secured.

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15 May 2019 15:21

Cabot Energy confident despite revenue and production falls

(Sharecast News) - Oil and gas company Cabot Energy updated the market on its financial position, operations and trading for the quarter ended 31 March on Wednesday, reporting a fall in revenue to $2m from $3.4m year-on-year.

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1 Apr 2019 11:41

Cabot Energy revenues soar on significantly increased output

(Sharecast News) - Oil and gas outfit Cabot Energy expects annual revenues to more double following a sharp increase in output.

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1 Mar 2019 17:07

Cabot Energy Funded To Late April After Open Offer And Subscription (ALLISS)

LONDON (Alliance News) - Oil and gas company Cabot Energy PLC on Friday said it has raised GBP2.5 million from its sharply discounted share subscription and open offer and is now funded until late

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14 Feb 2019 15:35

Cabot Energy confident amid Italian oil and gas review

(Sharecast News) - Oil and gas company Cabot Energy confirmed that late on 12 February, the Italian government signed a decree which enacted the suspension of work on oil and gas exploration permits or applications for new exploration permits in the country while a review was undertaken.

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14 Feb 2019 12:30

Cabot Energy Hopeful In Italy Despite Suspension Of Licensing

LONDON (Alliance News) - Cabot Energy PLC on Thursday said it remains hopeful for positive outcomes on its Italian licences despite new legislation.The stock was down 50% on Thursday at a a

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12 Feb 2019 10:57

Cabot Energy Stock Plummets On Discounted Capital Raise (ALLISS)

LONDON (Alliance News) - Cabot Energy PLC said Tuesday that it will raise GBP2.9 million via a sharply discounted share subscription and open offer and will separately undertake a 1-for-100 share

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1 Feb 2019 11:20

Cabot Energy Plans Fundraise And Negotiates Discount With Creditors (ALLISS)

LONDON (Alliance News) - Cabot Energy PLC on Friday said it has sufficient funds to continue operations until its USD3 million February fundraise and has negotiated a settlement discount with in a

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