RNS30 Apr 2026 07:40
Well the draft....I have helped JA draft his next DILOOTION RNS all be had to do is plug in the date.
The Company is pleased to provide an update on its ongoing engagement with the relevant authorities in Cameroon and Namibia in relation to its licence positions and associated farm-out processes. Constructive discussions continue with the respective governments regarding the progression of licence extensions and the alignment of terms to facilitate potential farm-out transactions. These engagements are advancing in parallel with discussions with interested counterparties, and the Company is encouraged by the collaborative approach being taken. While no definitive agreements have been concluded to date, the Board believes that the various workstreams are moving towards resolution, although there can be no certainty as to timing or outcome.
The Company announces that it has conditionally raised gross proceeds of £[X] million through the placing of [X] new ordinary shares (the “Placing Shares”) at a price of [X] pence per share (the “Issue Price”). The Issue Price represents a discount of approximately [X]% to the closing mid-market price on [date]. The net proceeds of the Placing will be used to advance ongoing appraisal and development activities across the Company’s portfolio, including continued progress on the Cameroon and Namibia assets, as well as for general working capital purposes. The Placing Shares, representing approximately [X]% of the Company’s enlarged issued share capital, are expected to be admitted to trading on [market] on or around [date]. Following Admission, the Company’s total issued share capital will consist of [X] ordinary shares.
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