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Pin to quick picksEuropa Oil & Gas Share News (EOG)

Share Price Information for Europa Oil & Gas (EOG)

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Share Price: 1.225
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EARNINGS AND TRADING: Zenova's Kitemark award; Carnival's eyes savings

Mon, 22nd Apr 2024 20:03

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and Monday and not separately reported by Alliance News:


GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Says the GS20 Exchange continues to gain market traction, with a continuing increase in signed-up users and it is trading profitably, in line with the board's expectations. Explains the GS20 Exchange recently entered into an agreement with Liminal, a leading blockchain wallet infrastructure company, to enhance the exchange's digital assets custody capabilities and to enable the exchange to securely scale its digital asset operations. Further, states Semnet has been successfully integrated into the group's operations. Says Semnet is trading ahead of expectations and the business is achieving significant profitable growth. GSTechnologies also expects to the acquisition of 60% of EasySend to complete in the second or third quarter of 2024. Continues to explore further value enhancing acquisition opportunities.


Kendrick Resources PLC - London-based, Scandinavia-focused mineral exploration and development company - Enters an unsecured convertible loan funding facility for GBP500,000 with Sanderson Capital Partners Ltd, a long term shareholder in the company. The facility is convertible at 0.75 pence per share and can be drawn down in 4 tranches of GBP125,000. Last tranche to be drawn within six months of November 7. Explains this is a standby facility and a potential additional source of working capital in a period when the funding market for junior exploration companies is subject to market volatility.


Technology Minerals PLC - London-based battery metals and recycling firm - Agrees to sell exploration licences in Leinster, Republic of Ireland, to European Lithium Ltd for USD10 million. States completion is subject to technical and legal due diligence to be completed by European Lithium. Believes this is an excellent outcome for all stakeholders, and validates the strategy to identify and advance early-stage projects up the value curve to attract buyers and/or partners to bring significant additional value.


First Class Metals PLC - Canadian-focused metals exploration company - Signs earn-in agreement for the Keers gold project in Ontario, Canada for up to CAD150,000. Notes the project holds a historic resource estimate of 386,467 ounces of gold. Chief Executive Marc Sale comments: "Given the continuous rise in gold prices, with new all-time highs being reached, the opportunity to earn into Kerrs Gold is an incredibly appealing proposition for FCM." On completion of the deal, FCM will control 100% of the project.


Touchstone Exploration Inc - Canadian-based oil and gas exploration company - Enters third amended and restated loan agreement with its Trinidad-based lender, Explains the amended deal provides for an additional USD10 million five-year non-revolving term loan facility and an increase to its existing revolving loan facility borrowing capacity from USD7 million to USD10 million under the terms previously announced. As a result, states Touchstone's credit facilities currently consist of the unchanged seven-year term loan facility, the new five-year USD10 million non-revolving term loan facility, and the increased USD10 million revolving loan facility.


MC Mining Ltd - South Africa-focused coal mine developer based in Canberra, Australia - Goldway Capital Investment Ltd says it has received acceptances and acquired MCM shares via on-market purchases from MCM shareholders representing around 90% of the issued capital of MCM. Goldway, a consortium including MC Mining's largest shareholders Senosi Group Investment Holdings and Dendocept, first launched its takeover bid for MC Mining in February.


Aptamer Group PLC - York, England-based biotechnology firm - Announces that its Optimer binder against cells associated with fibrotic liver disease, developed for targeted delivery of therapeutic payloads to fibrotic liver disease, has been shipped to a top 15 pharmaceutical company for evaluation in their own therapeutic applications. Chief Technical Officer Arron Tolley says: "We are delighted to be able to supply our Optimer binders to our pharma partner for evaluation. Their positive feedback on our in-house data suggests that the Optimer binders could outperform the alternative molecules they are currently testing."


Seraphim Space Investment Trust PLC - London-based space technology investment firm - Announces the sale of 100% of its interest in nine early stage portfolio companies to Seraphim Space Ventures II LP, a new private venture capital vehicle managed by Seraphim Space Manager LLP for GBP3.8 million. Plans to settle payment through the issue an interest for SSIT in the Venture Fund. Notes the fund will invest during its ten-year life in seed and series A stage SpaceTech companies globally. Explains the one-off deal represents 100% of SSIT's commitment to the fund and SSIT will not make any further commitments to it. SSIT will not incur any management fees in the fund.


Ora Technology PLC - London-based retail carbon trading firm - Reports nil revenue in the six months to January 31, unchanged from the year prior. Pretax loss totals GBP497,183 compared with GBP724,882 in the 8 months to July 31. Basic loss per share is 0.24 pence compared to an 8-month figure of 1.07p. "Our IPO and investment in the business in 2023 provide a solid platform for long term growth and the value necessary to drive revenue in the year ahead and beyond. Our waitlist pipeline remains robust and has exceeded our expectations. We are confident that we have laid the foundation to provide tremendous value to our customers and as well as create long-term shareholder value," company says.


i(x) Net Zero PLC - St Helier, Jersey-based investor focused on energy transition - Says net asset value at December 31 was 142.4 pence, more than doubled from 65.2p the year prior. Chief Executive Par Lindstrom comments: "i(x) Net Zero's investee companies have shown good resilience over the past twelve months and the ability to make continued progress in their goal of helping to decarbonise their respective industries. Given the tailwinds in our favour and the success of our recent 7.2x realised multiple of invested capital on the disposal of Carbon Engineering, the company looks to the future with confidence."


Aeorema Communications PLC - London-based live events agency - Says its brand experience agency, Cheerful Twentyfirst, has been reappointed by Stagwell Inc to deliver Sport Beach at the Cannes Lions International Festival of Creativity in June.


Zenova Group PLC - London-based fire safety and heat management product developer - Says it has been awarded a Kitemark, the UK's highest product certification, across a full range of fire causes. Adds this completes the group's goal for proficiency markings on all its fire extinguisher products. Explains, the Kitemark certification has allowed for the immediate release of a pending order for 100 extinguishers to a major UK customer as well as other important sales channels in its home market that require this marking as a pre-requisite for consideration by purchasing managers. Chief Executive

Thomas Melchior comments: "Gaining Kitemark certification in the UK is a major milestone for Zenova Group. In addition to opening up significant new order potential with major customers requiring this highest-standard credential, we now can formally substantiate our long-held belief that, among competitors producing extinguishers that claim to be effective across a wide range of fire types, Zenova's fluids are the industry leader for multi-fire cause proficiency.""


Globalworth Real Estate Inv Ltd - real estate investor focused on Central and Eastern Europe - Further to recent announcements, announces final results following the expiration of the deadline with respect to its Exchange Offer. Notes holders of around EUR381 million of 2025 notes in aggregate principal amount and holders of around EUR345 million of 2026 notes in aggregate have validly offered to exchange their existing notes in the Exchange Offer as of the deadline. As a result, the extraordinary resolutions were passed today with over 99% of the votes cast in each meeting.


Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development and production company - Publishes a third-party report that details the results of an updated study which calculated the expected emissions associated with the development of a future gas discovery on Europa's Irish offshore licence FEL 4/19. Explains the very low emissions found are primarily due to the the close proximity of Inishkea West to the existing Corrib field; the gas being produced through the existing subsea pipeline; the quality of the gas and the low levels of impurities associated with the gas; the quality of the reservoir anticipated; the anticipated size of the gas resource; and the forecast production profiles associated with a gas discovery on the licence.


Macau Property Opportunities Fund - Macau-focused property investment company - Confirms relaxation measures to Macau's long standing real estate anti-speculation policies came into effect on April 20 following official ratification by the Macau government.


Carnival Corp & PLC - Florida, US-based cruise ship operator - On Friday, announces the pricing of its private offering of EUR500 million aggregate principal amount of 5.75% senior unsecured notes due 2030. Expects to use the net proceeds from the offering, together with cash on hand, to redeem its EUR500 million 7.625% senior unsecured notes due 2026, resulting in a reduction in interest expense on this outstanding debt of nearly 2%. Further, receives commitments from lenders to reprice its first-priority senior secured term loan facility maturing in 2028 and its first-priority senior secured term loan facility maturing in 2027. As part of the repricing, Carnival expects to make a partial prepayment of USD500 million under the 2028 secured term loan facility and a partial prepayment of USD300 million under the 2027 secured term loan facility. Together, calculates a reduction of net interest expense of over USD30 million for the remainder of 2024 and over USD50 million on an annualized basis.


Menhaden Resource Efficiency PLC - Makes new private investment with Kohlberg Kravis Roberts in Avantus, one of the leading solar and energy storage developers in the US. Explains the initial USD17.5 million investment equates to 10.0% of the company’s net asset value. Notes Avantus has one of the largest and most advanced development pipelines across California and the Southwest. Believes the deal is highly opportunistic and expects it to generate returns significantly in excess of public equity markets. Notes this transaction represents the company’s fourth co-investment with KKR.


Third Point Investors Ltd - Feeder fund that invests in the Third Point Offshore Fund - Reports net asset value at December 31 totals USD25.43, up 4.0% from USD24.46 the year prior, while share price fell 5.8% to USD19.50 from USD20.70. Notes this compares with a 24.4% return for the MSCI World Index and a 26.3% return for the S&P 500 Index over the same period. But, notes an improved performance in the first quarter of 2024 with an 8.7% NAV return, or 17.6% over the prior six months to March 31.


By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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3 May 2024 20:29

IN BRIEF: Europa Oil & Gas withdraws from UK offshore licensing round

Europa Oil & Gas (Holdings) PLC - UK and Ireland-focused oil and gas exploration, development and production company - Updates on the company's application for a licence as part of the 33rd UK Offshore Licensing Round that closed in January. Says the North Sea Transition Authority proposes a marriage between Europa and another party for the Licence. But, Europa decides not to accept the proposed marriage and also notifies the NSTA that, if the NSTA subsequently decide to award the Licence, in its entirety to the company as the sole owner, Europa would decline the offer. Europa explains that since its original application various aspects of the operating conditions and the fiscal environment have changed and remain uncertain. This reduces the economic and strategic attractiveness of the licence. As such, Europa believes that its resources are better deployed on its existing assets and looking for new opportunities within its core areas of focus.

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3 May 2024 08:39

Europa Oil to decline any North Sea licence offer

(Sharecast News) - Europa Oil & Gas said in an update on Friday that it received communication from the North Sea Transition Authority (NSTA) regarding its application for a licence as part of the 33rd UK Offshore Licensing Round.

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17 Apr 2024 12:21

IN BRIEF: Europa Oil loss lower; eyes opportunity in Equatorial Guinea

Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development and production company - Pretax loss narrows 20% to GBP1.0 million in the six months to GBP1.0 million from GBP1.3 million a year prior. Revenue dives to GBP1.4 million from GBP3.7 million, which it says was due to the three-month shut-in period at Wressle in the East Midlands. Total cost of sales decrease 28% to GBP1.6 million from GBP2.2 million. Notably, reports no exploration write off cost, compared to GBP1.7 million a year prior. Looking ahead, Chief Executive Officer Will Holland says: "As we have alluded to in the past, we are always looking for additional geographies where we can reallocate our inhouse expertise. Such an opportunity arose in Equatorial Guinea towards the end of last year, where we are investing in a very high-quality licence with three drill-ready and potentially transformational prospects."

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14 Feb 2024 12:40

Europa Oil & Gas confirms extension to Cloughton licence

(Sharecast News) - Europa Oil & Gas announced a significant extension to its PEDL 343 licence on Wednesday, housing the Cloughton gas discovery in the East Midlands.

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14 Feb 2024 11:55

Europa Oil & Gas gets extension to PEDL 343 gas licence from UK NSTA

(Alliance News) - Europa Oil & Gas Holdings PLC on Wednesday announced an extension to its PEDL 343 licence in the East Midlands of England, which contains the Cloughton gas discovery.

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29 Jan 2024 10:27

IN BRIEF: Europa Oil hails phase extension for flagship Irish licence

Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - Says that Phase One of FEL 4/19, its licence in the Slyne basin, has been extended following approval from the Irish Government's Department of the Environment, Climate & Communications.

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15 Jan 2024 13:37

IN BRIEF: Europa Oil & Gas stock down as cashflow lower than expected

Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - Expects to report free cash flow of approximately GBP800,000 for 2023, lower than forecast of GBP4.2 million announced on Wednesday. Says lower than expected result was primarily due to delayed development at Wressle-1 well reducing revenue receipts for 2023, although it did result in "materially lower" capital expenditure. Says it has sufficient funds to cover expected capital and operational requirements for 2024. Company also reports that its cash position was GBP4.3 million at November 30, and that gross production at Wressle-1 is currently averaging 665 barrels of oil per day.

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2 Jan 2024 11:05

Union Jack and Europa Oil get resources upgrade for Wressle field

(Alliance News) - Union Jack Oil PLC and Europa Oil & Gas Holdings PLC on Tuesday said an independent assessment has increased the oil reserves of their licences at the Wressle field onshore in Lincolnshire, England.

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19 Dec 2023 12:43

Europa Oil & Gas and Union Jack Oil toast flow rate at Wressle-1 well

(Alliance News) - Europa Oil & Gas Holdings PLC and Union Jack Oil PLC on Tuesday said that production had increased at the UK onshore Wressle-1 well.

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29 Nov 2023 17:20

Union Jack, Europa O&G note Egdon update on Wressle future plans

(Alliance News) - Union Jack Oil PLC and Europa Oil & Gas Holdings PLC on Wednesday both noted Egdon Resources UK Ltd's community update on the Wressle oilfield development in North Lincolnshire, including PEDL180 and PEDL182 assets.

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27 Nov 2023 20:02

TRADING UPDATES: Live Co to cut jobs; SDX Energy in strategy shift

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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16 Nov 2023 15:54

UK shareholder meetings calendar - next 7 days

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Wednesday 22 November 
Castillo Copper LtdAGM
Crystal Amber Fund LtdAGM
GreenX Metals LtdAGM
Leeds Group PLCAGM
Wilmington PLCAGM
Thursday 23 November 
Avation PLCAGM
Bradda Head Lithium LtdAGM
Europa Oil & Gas Holdings PLCAGM
Hotel Chocolat Group PLCAGM
Pan African Resources PLCAGM
Rosslyn Data Technologies PLCAGM
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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8 Nov 2023 13:29

IN BRIEF: Union Jack, Europa Oil note Wressle-1 back up and running

Union Jack Oil PLC - UK-focused onshore hydrocarbon production, development, and exploration company - Wressle-1 well has been brought back into production following installation of a downhole jet pump. "Since production resumed, flow-rates in excess of 950 barrels of oil per day have been recorded. The well is now on continuous 24-hour production and is still cleaning up. Export and sale of oil has recommenced," Union Jack says. The firm owns a 40% interest in the asset. Europa Oil & Gas Holdings PLC, with a 30% stake, also notes the development.

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8 Nov 2023 11:14

AIM WINNERS & LOSERS: eEnergy surges after Luceco backing

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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