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Rainbow Rare Earths discuss progress and continued flowsheet optimisation at Phalaborwa Project
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Pin to quick picksEuropa Oil & Gas Share News (EOG)

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TRADING UPDATES: Aeorema reinstates payout; Resolute upsizes fundraise

Mon, 14th Nov 2022 19:52

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

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Aeorema Communications PLC - live events agency - Revenue in year ended June 30 jumps to record GBP12.2 million from GBP5.1 million. Swings to pretax profit of GBP843,564 from GBP159,698 loss. "This is an incredible achievement and is arguably all the more impressive given the global backdrop during the period. This milestone achievement is testament to the skill set of our team, who have adapted and developed our service offering to become an integrated agency, reflecting evolving market demands and underpinning the innovative nature of our business," Aeorema says. Reinstates dividend with 2 pence per share payout.

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Resolute Mining Ltd - Perth-based gold miner in Africa - Upsizes equity raising to AUD164 million, about GBP93.5 million, from AUD140 million. Notes "strong demand from high-quality, eligible existing and new domestic and international investors". Seals placement and institutional entitlement offer to raise AUD96 million. Receives "cornerstone" backing from North American institutional investor to tune of AUD55 million, just over a 16% stake. "Proceeds to strengthen the balance sheet and provide a financial platform for growth," Resolute says.

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Molecular Energies PLC - oil & gas company focused on Latin America, formerly known as President Energy PLC - Reports nine-month earnings under Argentine reporting rules. Revenue in first nine months of 2022 amounts to USD26 million with pretax profit of USD16.9 million. "During the period the average oil reference price in Rio Negro for domestic sales was USD60.94 per barrel compared to the average price for H1 2022 of USD58.89," Molecular adds. "Currently the reference price for domestic sales in Argentina is USD65 per barrel."

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Pensana PLC - London-based rare earth metal miner - Reports results from exploration programme on Coola licence. Says sampling at Sulima West carbonatite reported grades of up to 5.2% total rare earth oxides. "The results from Sulima West are considered to be a significant discovery and will be the main focus of exploration activities in 2023," Pensana says.

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Artemis Resources Ltd - Perth-based miner with gold, copper and cobalt projects in Australia - Says two priority, untested gold and copper targets named Marillion and Europa identified at Greater Carlow asset. "Marillion and Europa are the highest priority greenfield targets developed thus far. A combination of new and existing databases were used to generate these targets and both targets have never been drilled," Executive Director Alastair Clayton says.

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Zenith Energy Ltd - Calgary, Canada-based oil & gas company - Opens representative office in Aden, Yemen. "We are very pleased to have opened a representative office in Yemen. The team and I have had the opportunity to visit Aden and have fruitful interactions with the country's local authorities. Yemen is a country endowed with very significant oil and gas reserves, having attracted sizeable investment from many leading international oil and gas companies in the recent past," Chief Executive Andrea Cattaneo says.

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Oracle Power PLC - Cambridge, England-based power and natural resource project developer with focus on Pakistan - Signs deal with TUV Sud to explore "green hydrogen and green ammonia certification" for a green hydrogen project in development in Pakistan. "TUV Sud will review the project design of Oracle Energy's proposed 400MW capacity green hydrogen plant with annual production capacity of 55,000 tonnes with a view to certifying the green credentials of the proposed production of green hydrogen and ammonia. It is anticipated that this will include all value chain processes including compression, storage, conversion, transport to end customer," Oracle says.

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Arkle Resources PLC - Ireland-focused gold and zinc explorer - Raises GBP200,000 from placing of 50.0 million shares at 0.4 pence each. "The net funds received from the placing will be used for the anticipated drilling programme for zinc in Limerick at the Stonepark joint venture as well as for general corporate activities," Arkle says.

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Gulf Keystone Petroleum Ltd - Bermuda-based oil & gas exploration company - Says gross USD57.7 million, net USD45.3 million to company, received from Kurdistan Regional Government for Shaikan crude oil sales in July.

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IOG PLC - London-based gas and infrastructure operator with projects in the North Sea - First gas expected from Southwark A1 well in the second quarter of 2023. First gas is expected from Southwark A2 well around the end of this year. Also says Saturn Banks Pipeline System has been depressurised to enable safe installation of final subsea spool connecting to Southwark over the coming days. CEO Rupert Newall says: "For the remainder of 2022, our top priorities are safe and timely resumption of Saturn Banks production after the Bacton shutdown and successful stimulation to deliver first gas at the Southwark A2 well."

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Vaalco Energy Inc - Houston, Texas-based hydrocarbon explorer - Expects fourth-quarter output of 13,900 and 16,300 net revenue interest barrels of oil equivalent per day. "The company highlights that, due to completion timing of the merger, Q4 guidance includes the contribution for the TransGlobe assets for only half of the month of October," Vaalco adds. Back in July, Vaalco agreed to an all-share merger with Calgary, Alberta-based TransGlobe. Vaalco shareholders will hold about 54.5% of the combined company, with shareholders of TransGlobe owning the remaining 45.5%.

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Lexington Gold Ltd - mineral explorer with projects in US - Receives maiden mineral resource estimate for Jones-Keystone part of Jones-Keystone-Loflin project. Reports total inferred resource of 7.0 million tonnes at 0.94% grammes of gold per tonnes for 210,800 ounces of contained gold for combined JKL project. For Jones-Keystone deposit alone, it outlines at total inferred resource of 4.4 million tonnes at 0.91% grammes of gold per tonne, for 128,000 ounces of contained gold.

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Europa Oil & Gas Holdings PLC - oil and gas exploration, development, and production company in the UK, Ireland and Morocco - Revenue in year ended July 31 jumps to GBP6.6 million from GBP1.4 million. Swings to pretax profit of GBP1.4 million from GBP845,000 loss.

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Mobeus Income & Growth 4 VCT PLC - venture capital trust - Net asset value per share at September 30 half-year end falls to 86.50p from 94.66p at end of June amid "fall in unrealised valuations".

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Avation PLC - Singapore-based passenger aircraft leasing firm - Refinances two leased Airbus A220-300 aircraft. "The aircraft were previously financed in Avation's floating rate warehouse finance facility and have now been refinanced with fixed rate term loans from a major Japanese bank," aviation says. Lians amount to USD43.7 million and have extended term of eight-and-a-half years. Loan has euro and dollar tranches.

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Ondo InsurTech PLC - London-based insurtech firm - In the six months ended August 31, pretax loss widens to GBP2.1 million from GBP1.6 million the previous year. This comes as the firm books a GBP706,000 reverse acquisition expense in the period, and costs of sales rise to GBP511,000 from GBP475,000. Revenue, meanwhile, jumps to GBP1.0 million from GBP646,000 the year prior. Ondo says this revenue growth was driven by a growth in registered devices, which were up 43% against the prior year. "While today's economic situation is challenging, we are well placed to weather the storm... We are managing upward cost pressures on our hardware costs successfully, and although we have seen some cost increases, we have managed to pass these on to our customers," the firm adds.

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Powerhouse Energy Group PLC - Bingley, England-based hydrogen-from-waste-plastic producer - Says planning recorder appointed by Scottish government to review planning permission for hydrogen production facility at Rothesay Dock. "The planning application was granted on the site owned by Peel Group, PHE's development partner," Powerhouse says. "The recorder has been asked to consider the Scottish government's position of no support for the development of further municipal waste incineration capacity in Scotland, how the development relates to the waste hierarchy, the deposit return scheme, and a number of other matters related to the source of waste, incineration of the waste and use of the hydrogen produced."

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Galliford Try Holdings PLC - Uxbridge, England-based construction company - Says operations are "performing well and we are trading in line with expectations". Galliford adds: "Against a backdrop of unsettled wider market conditions, the board is confident of meeting its objectives for the current financial year and the group is continuing to make good progress on its sustainable growth strategy."

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Crystal Amber Fund Ltd - Guernsey-based investment company - Declares interim dividend of 10 pence per share amid investee Hurricane Energy PLC's possible sale. CAF holds just under 29% of Hurricane, which earlier in November said it received an unsolicited indicative takeover offer. "Should the formal sale process result in an offer for Hurricane and the realisation of the fund's holding at the indicative offer price of 7.7p a share, it would amount to GBP44.3 million or 53.2p per Crystal Amber share.," CAF says. Hurricane in November also said that should an offer not materialise from formal sales process, it would launch a GBP70 million capital return programme. CAF would stand to receive GBP17.8 million. CAF added: "The board of Crystal Amber has resolved that, rather than await the outcome of the Hurricane formal sale process, it should now resume its returns to shareholders."

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abrdn Latin American Income Fund Ltd - investment firm - Net asset value per share at August 31 year-end rises to 63.16p from 62.89p a year earlier. Maintains dividend at 3.50p per share. Net asset value total return was 6.8%, undershooting benchmark total return of 12%.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
13 Sep 2024 12:49

IN BRIEF: Europa Oil & Gas opts not to extend Serenity licence

Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development and production company - Says that it does not intend to apply to the North Sea Transition Authority for an extension to the Serenity licence, which is due to expire on September 30 of this year. As a result, the incurred costs associated the licence that Europa Oil & Gas has capitalised on its balance sheet will be written off.

Read more
13 Sep 2024 11:23

Europa Oil opts not to extend Serenity licence

(Sharecast News) - Europa Oil & Gas, an company focussed on oil and gas exploration, development, and production in the UK, Ireland and West Africa, announced on Friday that it would not apply for an extension of the Serenity licence, P2358.

Read more
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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22 Apr 2024 20:03

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

(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:

Read more
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."

Read more
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.

Read more
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:

Read more
16 Nov 2023 15:54

UK shareholder meetings calendar - next 7 days

Friday 17 November 
Future Metals NLAGM
Red Rock Resources PLCGM re allot equity securities
Rockpool Acquisitions PLCAGM
Saietta Group PLCGM re annual accounts and reappointment of auditors
US Solar Fund PLCGM re change of investment policy
Monday 20 November 
Hellenic Dynamics SAGM re share subdivision and share reclassification
McBride PLCAGM
Mountview Estates PLCGM re re-election of directors
Ondo InsurTech PLCAGM
Rainbow Rare Earths LtdAGM
Seraphim Space Investment Trust PLCAGM
Tuesday 21 November 
Berkeley Energia LtdAGM
Currys PLCGM re proposed disposal of Kotsovolos
Custodian Property Income REIT PLCGM re articles of association
Physiomics PLCAGM
Starvest PLCGM re cancellation of listing
Trainline PLCGM re capital reduction
Wednesday 22 November 
Castillo Copper LtdAGM
Celtic PLCAGM
Crystal Amber Fund LtdAGM
Genus PLCAGM
GreenX Metals LtdAGM
Leeds Group PLCAGM
Wilmington PLCAGM
Thursday 23 November 
Avation PLCAGM
Bradda Head Lithium LtdAGM
Europa Oil & Gas Holdings PLCAGM
Fiske PLCAGM
Hotel Chocolat Group PLCAGM
Pan African Resources PLCAGM
PZ Cussons PLCAGM
Rosslyn Data Technologies PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more

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